Phytonutrients Market Size

Phytonutrients Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The current size of the market for plant-derived nutrients is estimated to be $ 7.23 billion in 2023, and is expected to remain the same through 2030. With a CAGR of 8.2 percent from 2022 to 2030, this stable growth shows the market for plant-derived nutrients is strong, driven by the increasing awareness of consumers for health and well-being. Natural and plant-based nutrients are increasingly being used in the food and beverage industry, and in dietary supplements, as consumers are more interested in their health benefits, such as their antioxidant properties and disease prevention properties. The market for plant-derived nutrients is driven by several factors, including advances in extraction technology and an increasing number of studies demonstrating the health benefits of plant-derived nutrients. The trend towards clean label products and the formulation of new products also contribute to the market. DSM, BASF and DuPont are also taking strategic steps to strengthen their market position, such as through collaborations and R & D. Recent collaborations on the development of new plant-derived nutrients, for example, show the industry's commitment to meeting evolving consumer demands and promoting the health benefits of plant-based nutrients.

Regional Market Size

Regional Deep Dive

The Phytonutrients market is growing rapidly in all regions, driven by the growing awareness of the health benefits associated with plant-derived compounds. In North America, the market is characterized by a strong demand for natural ingredients in food and beverages. In Europe, the trend is towards organic and clean label products. In Asia-Pacific, the market is characterized by a strong demand for dietary supplements, influenced by the influence of herbal medicine. The Middle East and Africa are gradually embracing the Phytonutrients market, while Latin America is able to take advantage of its rich biological diversity to provide Phytonutrient-rich products. Each region offers opportunities and challenges that are influenced by cultural preferences, regulatory frameworks and economic conditions.

North America

• The U.S. Food and Drug Administration (FDA) has recently issued a revised guideline on the use of health claims for dietary supplements. This is expected to help boost consumer confidence and stimulate market growth.
• DuPont and BASF are investing in the development of new formulations of plant-derived nutrients, particularly focusing on the development of new antioxidants and anti-inflammatory products that are gaining traction with health-conscious consumers.
• In the United States, a growing number of people are turning to vegetarian diets, which are based on plant nutrients. As a result, companies such as Herbalife and Garden of Life have added these nutrients to their range of products.

Europe

• A stricter European Union regulation of health claims on foods has forced companies to invest in scientific research to support the health benefits of their products. This has increased the product’s credibility.
• Extraction techniques developed by companies like Givaudan and Symrise, for example, have made it possible to obtain a higher yield of natural nutrients from plants, thereby making them more accessible for use in food and beverage products.
• In Europe, the trend of 'clean label' is pushing manufacturers to source their plant-based ingredients from organic and sustainable sources, in line with consumer demand for transparency and social responsibility.

Asia-Pacific

• The increasing popularity of herbal medicine in countries such as China and India is driving demand for plant-based dietary supplements. Indian companies such as Himalaya and Dabur are extending their product ranges to include a range of plant-based dietary supplements.
• In Japan, for example, government initiatives are promoting the use of “functional foods,” which often contain plant nutrients, to combat the consequences of a modern way of life. This has created a favorable environment for the market.
• Health-conscious consumers in Asia-Pacific are driving the demand for products with a high level of dietary fiber, especially in the beverage and snack segments.

MEA

• The rising prevalence of chronic diseases in the Middle East has prompted governments to promote healthy lifestyles, which is resulting in increased interest in products rich in plant nutrients.
• Al Ain Farms, a company in Al Ain, is beginning to incorporate these ingredients into its products, in response to the demand for healthier foods in the region.
• Phytonutrients are natural substances that are contained in a wide variety of plants. Phytonutrients are a natural, organic and natural product, which is found in all plants.

Latin America

• Latin America is rich in plant species, and the companies of the group Bimbo and the company of Natura have been able to take advantage of this richness to develop products rich in phenolics and used in the domestic and foreign market.
• This region is increasingly promoting sustainable farming practices that are compatible with the cultivation of high-phytonutrient crops and aligned with the global trend towards sustainable development.
• There is a great deal of interest in the natural health products market. Phytonutrient-based supplements and food supplements are gaining in importance, and the trend towards preventive medicine is becoming apparent.

Did You Know?

“Phytonutrients are not essential nutrients but they do have a beneficial effect on health, including their antioxidant and anti-inflammatory properties. Phytonutrients are increasingly recognized by nutritional science.” — National Institutes of Health (NIH)

Segmental Market Size

Phytonutrients are experiencing robust growth driven by rising consumer awareness of the health benefits of plant-based compounds. Growing preference for natural food and beverage ingredients is also fuelling demand. In addition, the increasing prevalence of chronic diseases is spurring preventive health measures. Regulatory policies supporting clean labeling are further boosting the market, with consumers demanding more transparency about the origin and composition of ingredients.

Phytonutrients are already well accepted in the food industry. DSM and BASF are among the companies that are at the forefront of developing new formulations. Their main application areas are dietary supplements, health foods and cosmetics. Phytonutrients are mainly used for their antioxidant and anti-inflammatory properties. Growth will be driven by trends such as the shift towards sustainable and healthy eating, which will be accelerated by the pandemic. The industry is being driven forward by technological developments, such as advanced extraction methods and improved bioavailability, which will ensure that the market is able to meet consumers’ requirements for efficacy and quality.

Future Outlook

The Phytonutrients market is expected to experience a CAGR of 8.2% from 2023 to 2030. This growth rate is projected to take the market from an estimated $7.23 billion in 2023 to approximately $12.5 billion in 2030. As consumers become more conscious of their health and well-being, demand for natural products in foods, beverages, and dietary supplements is projected to increase. By 2030, it is expected that the penetration of Phytonutrients in the food and beverage market will reach more than 31%, mainly driven by the growing trend towards preventive medicine and the growing health consciousness.

Phytonutrients will continue to grow in importance as the role of technology in extraction and bioavailability of plant compounds increases. Further, the growing support for the use of natural food ingredients in the food industry will lead to further growth. In addition, the increasing trend towards plant-based diets and the growing popularity of clean label products will create new opportunities for the use of phytonutrients in different industries. Consequently, the market will change and the industry will have to adapt to the needs of the consumers and offer solutions that meet the growing demand for health-oriented solutions.