Global Market Study on Phytochemicals - The Next Nutritional Buzzword


Phytochemicals  Market
  • Published On : Aug-2019 |
  • Pages : 250 Pages |
  • Format :

Phytochemicals Market – Complete Analysis and Opportunity Assessment

A new research study published by Persistence Market Research (PMR) offers a perspective on the growth trajectory of ‘Phytochemicals Market’ for the period between 2019 and 2029. The study includes a thorough assessment of historical and current trends of the phytochemicals market that can have significant impact on its future growth prospects. The business intelligence report offers credible insights on various aspects and nuances of the phytochemicals market that can help the stakeholders in well-informed decision-making.

PMR’s details drivers, restraints, trends, and challenges in the phytochemicals market to identify lucrative opportunities for the market vendors. In addition, the report offers forecast statistics of the phytochemicals market in terms of value (US$ million) and volume (tons). It also coverss several sections explaining the global outlook on urbanization growth, F&B industry, pharmaceutical industry, and nutraceutical industry.

In the report, readers can find detailed taxonomy of the phytochemicals market in line with an incisive outlook on the competitive scenario. The report highlights a wide range of incumbent companies as well as new entrants in the phytochemicals market, wherein, development strategies, portfolios, and new launches of each market player have been mentioned.

Phytochemicals Market – Segmentation

In the PMR study, the phytochemicals market has been classified into four broader categories – type, form, application, and region. The study evaluates various dynamics and trends linked to each segment and analyses their impact on the future development of phytochemicals market. This section of the report also includes market value share analysis and market attractiveness assessment.

Type

Form

Application

Region

Carotenoids

Powder

Food and Beverages

North America

Flavonoids

Liquid

Nutraceutical

Latin America

Phytosterols

Pharmaceutical

Europe

Polyphenols

Personal Care and Cosmetics

East Asia

Others

Animal Nutrition

South Asia

Others

Oceania

Middle East and Africa

What are the Key Questions Answered in the Phytochemicals Market Report?

PMR’s study offers qualitative and quantitative breakdown of the phytochemicals market, in order to help identify sustained opportunities for the stakeholders. Detailed information provided in the phytochemicals market report addresses numerous questions for deeper understanding of the market. Some of these questions include:

  • What growth momentum does the phytochemicals market carry during the forecast period?
  • What focused approach and constraints are holding the phytochemicals market tight?
  • Which segment of phytochemicals market may seek incremental growth prospects?
  • What product and consumer trends are evident in the phytochemicals market?
  • What is the consumption rate of phytochemicals based on geographical divisions?
  • Which region will secure a lion’s share of the global phytochemicals market?
  • What are the key business strategies adopted by leading players in the phytochemicals market to stay ahead of the pack?

Research Methodology

PMR’s new report on phytochemicals market is a result of a unique approach and two-step research methodology including primary and secondary resources. By thoroughly analyzing the information obtained through and verified by these resources, analysts could estimate market size and provide in-depth insights on how the phytochemicals market will grow and expand during the forecast period.

In the primary phase, analysts interviewed a number of C-level executive, key opinion leaders (KOLs), regional officers, product managers, sales managers, and marketing managers of companies in the supply chain of phytochemicals market, along with key investors and regional distributors. The information gathered through these interviews have contributed to the compilation of the phytochemicals market report.

Secondary resources referred by analysts for the development of the phytochemicals market report include white papers, research papers, company annual and financial reports, and industry association publications. Other secondary resources are the Food and Drug Administration (FDA), American Dietetic Association, Association of Health Food Nutrition and Dietetics, and American Society for Nutrition.

‘Living healthier, longer lives’ is almost a universal value shared by most of the world’s population. While both developed and developing societies across the globe are experiencing ever-increasing number of population, interventions to help each individual remain healthy and active are at the top of healthcare providers’ list of priorities. As studies continue to report the benefits of plant-focused diets on people as well as the planet, phytochemicals have gained growing interest from the worldwide research communities in recent years.

The intellectual discussions about nutritional values and quality of human diet mostly revolve around fat, cholesterol, calcium, and even anti-oxidants, while phytochemicals aren’t exactly foremost in the minds of today’s health-conscious consumers. However, taking the resources into consideration and numerous researchers devoting in this group of chemicals, it is highly likely to become the next nutritional buzzword.

According to the latest study by Persistence Market Research (PMR), phytochemicals market is predicted to grow 4.7% year-over-year to total US$ 5.2 billion in 2019, up from US$ 4.9 million in 2018. The market has been characterized by rapid investments in R&D activities and expansion of production facilities.

phytochemicals market infographic

Carotenoid and Flavonoid Application to Ramp Up in Dietary Supplements and Functional foods

Phytochemicals exist as long as plants exist, but their existence and potential use as medicines were not known until the 1980s. As opposed to nutritional components such as vitamins or minerals, phytochemicals aren’t considered nutrients as they have no nutritive value and merely impart flavor or color to the plant. However, study reports and data started stacking up that these chemicals found in plants may be important to human body in terms of stimulating the immune system, preventing the body from oxidative damage, and slowing the growth rate of cancer cells. Moreover, a number of end-use industries including F&B, pharmaceutical, and nutraceutical started creating products that cash in on phytochemicals which are seen as the next consumer craze.

Carotenoids, which accounted for 40% of the total phytochemical sales in 2018, continue to gain momentum as fortified substances in dietary supplements and functional foods. As evidences are building that flavonoids and other phytochemicals have myriad health benefits, supplement manufacturers have been considerably quicker to market the benefits of these chemicals.

While flavonoids continue to represent relatively high share in the phytochemicals market, sales of phytosterols and polyphenols are likely to show an increase of ~5% in 2019, according to the PMR study. Gains remain driven by the promotion of natural ingredients in medicine formulation and technological progressions in the food industry.

Aligning with Evolving F&B Industry and Meeting Burgeoning Global Demand for Plant-based Ingredients

The global food industry no longer looks like its former self; consumers are seeking various ways to improve their diets, to manage health and wellness, and to counteract escalating cases of obesity and complex diseases. Changes in consumer desires are coming fast, requiring companies to have deep pockets for innovations.

As consumers are rapidly inclining towards non-GMO or natural ingredients and clean label products with medicinal values, food companies are taking the functional foods and nutrition space by storm with products focused on phytochemicals. In addition, the natural food additives market has been witnessing an exponential growth over the years, due to potential hazards of artificial food additives, thereby raising the demand for phytochemicals.

In 2018, the consumption of phytochemicals by F&B industry accounted for almost 30% of the total sales, whereas growing application in nutraceuticals is likely to result in increased market shares in the years ahead.

Based on scientific evidence, presence of certain phytochemicals in functional foods and nutraceuticals play specific pharmacological effects in human health as anti-inflammatory, antioxidants, anti-allergic, and others. The shift in healthcare from treatment to prevention, creating momentum for nutraceuticals, is likely to offer opportunities for phytochemicals market players to strengthen their bottom lines.

phytochemicals market segmentation

A Search for New Opportunities in Cosmetics and Personal Care Space is Underway

Phytochemicals demand is currently based on emerging trends of ‘veganism’ and ‘vegetarianism’, especially among the millennial demographic, who are constantly focusing on health and wellness, while cutting down the intake of meat and animal-based products. A wave of preference for natural or plant-based ingredients among today’s consumers continues to favor the expansion of phytochemicals market around the globe.

A wide range of green ingredients are making inroads in the cosmetics and personal care products, and phytochemicals are no exception. The beauty industry has been on a tear for years, with consumers on journey of exploration – enjoying new products with clean labels and finding newer brands. Phytochemicals, in particular, have been a key component of research directed towards the science of healthy aging. Considering an emerging concept of using herbal extracts in cosmetic formulations, especially to reduce the skin aging process, the application of phytochemicals in cosmetics and personal care products is likely to increase ~4% in 2019 over 2018, as per the PMR study.

Europe in the Vanguard of Phytochemicals Consumption

The European market for phytochemicals account for almost 30% of the total share, primarily driven by the establishment of large number of food processing and pharmaceutical companies. Consumers in the developed nations are rigorously inclining towards health and wellness with greater awareness of high-quality nutraceuticals and functional foods. As these consumers further seek natural or green alternatives to synthetic food colors and additives, phytochemicals are expected to play an important role in food manufacturers’ innovation strategies. In addition, phytochemicals are making progress in pet food and animal feed.

The dietary and lifestyle preferences of pet parents have been playing a significant role in pet food choices. As healthier and wholesome options for pets’ dietary source are in high demand, phytochemicals market players are tapping opportunities in pet food and animal feed industries. For instance, in 2018, Chr. Hansen launched a range of products sourced from nature with coloring properties for use in multiple cat and dog food applications.

In the case of low- and mid-income countries, lack of awareness regarding the potential benefits of phytochemicals remains a key challenging aspect of the market players. However, easy access to information due to ubiquity of smartphone and rapid internet reach in remote areas along with increasing income levels of the consumers are anticipated to prepare greater grounds of phytochemicals market growth across regions such as South Asia, Latin America, and Middle East & Africa. 

Read More

Phytochemicals Market: Global Industry Analysis 2014 – 2018 and Opportunity Assessment 2019 – 2029

Phytochemicals are chemicals, which are derived from plants and contain highly beneficial nutritional properties. Phytochemicals are further used in a variety of applications including food and beverages, nutraceuticals, pharmaceuticals, cosmetics, animal feed, and others. In food and beverages, phytochemicals are used as natural additives and colorants. These are also anti-inflammatory, and hence offer multiple benefits to food products. There are multiple phytochemicals present in multiple plants, some examples include carotenoid, flavonoid, phytosterols, alkaloid, phenolic acid, and others.

Phytochemicals possess protective characteristics, which make them vital ingredients for use in pharmaceutical and nutraceutical industries. Phytochemicals comprise of antioxidants, are anti-inflammatory, aid hormonal growth, stimulation of enzyme, and anti-bacterial action, as well as offer other beneficial properties. Carotenoids, flavonoids, and other phytochemicals are frequently used as ingredients in dietary supplements and functional foods. Some fruits and vegetables such as blueberries, cranberries, cherries, apple, cabbage, carrots, and others, already contain different phytochemicals. For instance, carrot is one of the key sources of carotenoid, which is among the most used phytochemicals in varied industries.

Preference for Plant-based Ingredients Stimulating the Market Growth

Plant-based ingredients are gaining popularity among food and beverage manufacturers due to changes in consumer behavior patterns. Applications of ingredients sourced from plants are creating a relatively stable condition for the manufacturers in the food and beverages industry. Manufacturers are increasingly favoring chemicals obtained from plant extracts, as they can be used in different food products and are also associated with multiple health benefits. Plants including gooseberry, turmeric, ginger, beetroot, and ginseng are frequently utilized in the food industry to produce consumer-friendly health food products. Plant-based or herbal medicines are also in-demand medicinal products among consumers. Phytochemicals are the major ingredients used in plant-based medicines as these contain antioxidant and anti-inflammatory properties. Since plant-based ingredients are widely in demand in different industries, the demand for phytochemicals will be more in different industries.

Growing Focus of Millennials on Health and Wellness

Health consciousness is a major trend in the food industry, which is increasingly gaining attention in the food and beverages industry. The millennial generation is focusing on health and wellness, and seeking food products that contain more health and nutritional benefits. Phytochemicals comprise of essential nutrients, antioxidants, and other characteristics that aid the treatment of different chronic diseases. Phytochemicals also specialize in reducing the risk of different types of diseases including cardiovascular diseases. Phytochemicals contain plant sterols, flavonoids, and sulfur-containing compounds, which provide numerous health benefits.

Use of Phytochemicals in Anti-Aging Products

Anti-aging products are the most in-demand products in the cosmetics and personal care industries. Phytochemicals contain anti-aging properties and can be utilized in cosmetics to offer stable solutions to overcome anti-aging problems. Some of the examples are extracts obtained from Lagerstroemia speciosa and Lagerstroemia floribunda, which are suitable as anti-aging ingredients in various skincare formulations. These phytochemicals possess different anti-aging properties and also natural ingredients, which don’t cause any side effects to the skin. Anti-aging products demand will further increase in the future due to change in lifestyles and growing focus on appearance. Additionally, the consumer is also becoming aware regarding the skin benefits from natural and herbal products, which further create more demand for plant-based skin products. All these aspects are favoring the usage of phytochemicals in anti-aging products and creating opportunities for the phytochemicals market in the future.

The ‘Organic Trend’ Creating More Demand for Phytochemicals

Organic and natural food consumption is continuously growing among consumers as these ensure more nutritional benefits. Organic food is further linked to growing health awareness among consumers. Phytochemicals are naturally-sourced chemicals, hence, they are organic food ingredients. Furthermore, plant extracts are extensively used in the food and beverages industry and are expected to witness more demand from consumers. Organic and natural food products contain fully natural ingredients and no preservatives and chemical food additives. The changing food landscape for organic and natural food products is ensuring more demand for phytochemicals as natural ingredients in food products.

Company Profiles:

  • Chr. Hansen Holding A/S
  • BASF SE
  • DSM
  • Döhler GmbH 
  • Naturex SA 
  • Kemin Industries Inc
  • Linnea SA 
  • Sabinsa Corporation 
  • Martin Bauer GmbH &Co. KG
  • Kothari Phytochemicals & Industries Ltd.
  • Indena SpA
  • Alkaloids Corporation  
  • Arboris LLC 
  • Allied Biotech Corp. 
  • Organic Herb Inc.(OHI)
  • LIPO Foods
  • Phyto Life Sciences P. Ltd
  • Purextract (DRT) 
  • Nektium 
  • FYTEXIA
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