Phytonutrients are plant compounds found in fruits and vegetables that are beneficial for human health. They help in improving immunity, reducing inflammation and chronic diseases risk. Increasing health issues like obesity, heart diseases, and diabetes have raised the demand for phytonutrients rich foods and supplements. They contain antioxidants that fight free radicals in the body.
The global phytonutrients market is estimated to be valued at US$ 7482.2 Mn in 2023 and is expected to exhibit a CAGR of 20% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing penetration of health and wellness trends is one of the key factors driving the growth of phytonutrients market. Rising number of health-conscious consumers focusing on preventive healthcare has boosted the consumption of phytonutrients. Growing awareness about various health benefits of consuming fruits and vegetables daily through social media and health campaigns is inducing consumers to adopt a more plant-based diet and lifestyle. Supplement manufacturers are utilizing this trend by incorporating different plant extracts in their products and marketing them as natural immunity boosters and supplements for chronic disease management.
Segment Analysis
The global phytonutrients market is segmented by product type, application, and geography. By product type, the carotenoids segment dominated with a market share of around 30% in 2024. Carotenoids are essential plant pigments that serve as important antioxidants in the human body and are known to offer various health benefits such as eye health, immune function, and skin health. Their wide usage across dietary supplements and food & beverage products has fueled their market dominance over other phytonutrient types.
By application, the dietary supplements segment held the largest share of over 35% in the same year. Increasing consumer awareness about preventive healthcare and focus on boosting immunity has driven the incorporation of phytonutrients in various dietary supplements. Emergence of personalized nutrition based on individual health conditions and lifestyle has further augmented segmental growth.
Key Takeaways
Global Phytonutrients Market Demand is expected to witness high growth. Regional analysis related content comprises
The North America phytonutrients market accounted for ~35% revenue share in 2024 and is estimated to witness noteworthy gains during the forecast period. Wide availability of plant-based dietary supplement products along with rising health-conscious consumer base focused on prevention and wellness is facilitating regional market expansion. Additionally, proactive initiatives by government agencies to promote the consumption of antioxidant-rich foods in the U.S. and Canada are supplementing the demand for phytonutrient ingredients among manufacturers.
Key players operating in the phytonutrients market are Ather Energy, Bike-energy, Bikeep, Flower Turbines, Get Charged, Inc., Giulio Barbieri SRL, Ground Control Systems, Magment GmbH, Perch Mobility, Robert Bosch GmbH, Solum PV, SWIFTMILE, and the Mobility House GmbH. Major players are engaged in new product launches, strategic collaborations, and acquisitions to strengthen their market position and gain a competitive edge in the highly fragmented industry landscape.
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