Phytochemicals Market, Size, Share, Growth, Trends, Insight and Industry Forecast, 2021-2028

Research Report

DataM Intelligence

The Global Phytochemicals Market is expected to grow at a high CAGR during the forecasting period (2021-2028).

The Global Phytochemicals Market is expected to grow at a high CAGR during the forecasting period (2021-2028).”

— DataM Intelligence


Market Overview
Phytochemicals are the group of plant-derived compounds that are mainly found in fruits, vegetables, cereals, and plant-based beverages such as tea and wine. Phytochemicals are a combination of essential nutrients and antioxidants that can help with a variety of chronic illnesses, such as cardiovascular disease. Phytochemical components found in food legumes, such as phytohemagglutinins, tannins, phytic acid, saponins, protease inhibitors, oligosaccharides, and phytoestrogens, have both positive and negative health effects.

These have been linked to a variety of health benefits, including lower risks of cardiovascular and kidney disease, anti-aging treatments, and brain enhancement. Also, based on their chemical structure, phytochemicals can principally be categorized into alkaloids, flavonoids, carotenoids, phenolics, terpenoids, steroids, and essential oils. Phytochemicals also contain plant sterols, flavonoids, and sulfur-containing compounds, which have a variety of health benefits. Thus, growing awareness in people regarding the health benefits provided by phytochemicals is likely to support the growth of the market.

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Market Dynamics
Rising awareness in people regarding the health benefits provided by phytochemicals is driving the market growth

With people turning more towards organic lifestyle, there has been an observed growth in the adoption of phytochemicals by people. According to Roswell Organization, a leading medical research institute, people consuming phytochemicals have been shown to have lower rates of certain types of cancers and heart disease. Moreover, the American Institute of Cancer and Research has also advised that including phytochemicals in their diet can prove to be beneficial for cancer patients.

In addition to these benefits, phytochemical extracts, such as Lagerstroemia speciosa and Lagerstroemia floribunda, have a wide range of anti-aging properties in skincare formulations and have no negative side effects on the skin. With changing lifestyle of consumers, combined with the focus on appearance, is expected to drive demand for phytochemicals. Countries with a huge population of cancer patients can serve as an opportunity for the phytochemicals market.

However, phytochemicals have negative effects like they decrease the bioavailability of certain nutrients, interfere with normal development, reproduction and restrict the digestibility of proteins and carbohydrates. Phytoestrogens have also been linked to infertility issues. Such side effects are possible restraints to the growth of the market.

Market Segmentation:
By Type
• Carotenoids
• Flavonoids
• Phytosterols
• Alkanoids
• Terpenoids
• Steriods
• Essential Oils
By End-Use
• Pharmaceuticals
• Functional Beverages
• Functional food
• Dietary Supplements
• Personal Care & Cosmetics
• Animal Nutrition

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Geographical Penetration
North America dominates the market as the United States is increasingly adopting phytochemicals in the nutraceutical industry

North America is the largest shareholder of the market with the United States being the major contributor of the market. As the health-conscious population is increasing in this country, the nutraceuticals industry is increasingly integrating phytochemicals and plant extract ingredients into their products. Plant extracts and phytochemicals have seen substantial growth in the dietary supplement market in recent years. On the other hand, Europe held a significant market revenue share of XX% in the year 2020. Nutraceuticals industries at a fast pace are incorporating phytochemicals and plant extract ingredients in their product range for treatment of chronic diseases, health supplements, anti-aging products, which has generated interest among the aging population, particularly in the European region.

Competitive Landscape
The global phytochemicals market is highly competitive with key players like Chr. Hansen Holding A/S, BASF SE, Royal DSM, Döhler GmbH, Naturex SA, Kemin Industries Inc, Linnea SA, Sabinsa Corporation, Martin Bauer GmbH &Co. KG and Kothari Phytochemicals & Industries Ltd. The phytochemicals market is a highly fragmented market, with leading companies engaged in strategic alliances including mergers & acquisitions along with extensive research & development tactic. For instance, DSM, Vidya Herbs, a leading manufacturer of organic and traditional herbal extracts and natural carotenoids, announced the launch of a sunflower extract containing 40% chlorogenic acids in April 2019. In 2018, Chr. Hansen launched a range of products sourced from nature with coloring properties for use in multiple cats and dog food applications.

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Sai Kiran
DataM Intelligence 4Market Research LLP
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Source: EIN Presswire