The global demand for Phytochemical Market is presumed to reach the market size of nearly USD 12.85 MN by 2028 from USD 7.5 MN in 2021 with a CAGR of 8% under the study period 2022 - 2028.
Plants generate phytochemicals to help them resist diseases from fungi, bacteria, and plant viruses and to be consumed by insects and other animals. Phytochemicals have a high antioxidant capacity and are of great interest because of their positive effects on human health. They also provide significant health benefits to consumers. The same enzymes that metabolize food and medications also metabolize phytochemicals. Polyphenols, flavonoids, isoflavonoids, anthocyanidins, phytoestrogens, terpenoids, carotenoids, limonoids, phytosterols, glucosinolates, and fibres are among the phytochemicals described as having possible health advantages.
Market Dynamics
Over the following years, increasing applications of phytochemicals across several end-use industries like nutraceuticals, food and beverages, and medicines are expected to drive the demand for phytochemicals. The demand for phytochemicals in the food and beverage sector is being fueled by a shift in consumer preference for natural ingredients and clean labelling in food items, and increased consumption of dietary supplements. Phytochemicals have lately gained prominence due to their ability to reduce illness risk and offer anti-aging properties. LDL cholesterol, or bad cholesterol, can be reduced by phytochemicals, lowering the risk of heart disease, cancer, and diabetes. Phytochemical demand is expected to climb as health issues like cardiovascular disease, obesity, and others are becoming more prevalent. Raw material scarcity, price variations, raw material trade, changing price restrictions and policies surrounding natural ingredients, and the availability of other plant-derived products in the market are all substantial stumbling blocks to the expansion of the phytochemical market.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of phytochemical. The growth and trends of phytochemical industry provide a holistic approach to this study.
Market Segmentation
This section of the phytochemical market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Form
- Powder Derivatives
- Liquid Derivatives
By Functionality
- Carotenoids
- Phytosterols
- Flavanoids
- Others
By Application
- Functional Food
- Functional Beverages
- Dietary Supplements
- Wellness And Personal Care
- Pharmaceuticals
- Cosmeceuticals
- Animal Nutrition
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Phytochemical market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Phytochemical Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the phytochemical market include Naturex SA, Indena SpA, Linnea SA, BASF SE, Arboris LLC, Cargill Inc., Dupont De Nemours & Co ltd, Martin Bauer GmbH &Co. KG, Hansen A/S, LIPO Foods, Doehler Group. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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