Phytonutrients Market Detailed Analysis of Future Trends & Growth Opportunities
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<strong>Phytonutrients</strong> <strong>Market</strong> <strong>Detailed</strong> <strong>Analysis</strong> <strong>of</strong> <strong>Future</strong> <strong>Trends</strong> & <strong>Growth</strong> <strong>Opportunities</strong><br />
<strong>Phytonutrients</strong>, originated from Greek word ‘phyto’ (plants), plays an important role in plants by<br />
protecting them against insect attacks or UV rays. <strong>Phytonutrients</strong>, organic compounds especially<br />
found in plants, are important to promote human health. <strong>Phytonutrients</strong> are antioxidants &<br />
anti-inflammatory agents, which helps in enhancing immunity & intercellular communication<br />
within the human body.<br />
<strong>Market</strong> Dynamics<br />
Multiple health benefits <strong>of</strong>fered by phytonutrients is a key factor driving phytonutrients market<br />
growth. <strong>Phytonutrients</strong> help to stay healthy & energetic by protecting against aging effect.<br />
Extensive researches in the field <strong>of</strong> medical sciences have proven benefits <strong>of</strong> carotenoids,<br />
flavonoids, and other phytonutrients in curing chronic diseases such as cancer, heart stroke, high<br />
blood pressure, and diabetes. For instance, a study conducted by the University <strong>of</strong> California Los<br />
Angeles found that daily consumption <strong>of</strong> 8 ounces <strong>of</strong> pomegranate juice increased the stability <strong>of</strong><br />
prostate antigens in prostate cancer survivors by nearly four times when compared to those who<br />
did not consume phytonutrients. Owing to such benefits, phytonutrients are extensively adopted<br />
in pharmaceutical drugs and dietary supplements. Therefore, rising prevalence <strong>of</strong> such diseases<br />
across the world is projected to boost demand for phytonutrients over the forecast period.<br />
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Bulk availability <strong>of</strong> feedstock across the globe is creating immense opportunity for growth <strong>of</strong><br />
phytonutrients market. According to the United States Department <strong>of</strong> Agriculture Report on<br />
World Grain <strong>Market</strong> and Trade 2018, world’s total production <strong>of</strong> coarse grains in 2016-2017 was<br />
pegged at 1,369,834 thousand metric tons.<br />
However, phytonutrients are not suitable for everyone and excessive intake <strong>of</strong> these may lead to<br />
allergy or unconsciousness, which is a major challenge affecting the market growth.<br />
<strong>Market</strong> Outlook<br />
Among product types, carotenoids segment accounted for the highest market share in the market<br />
in 2017. Carotenoids such as beta-carotene, lycopene, lutein, and zeaxanthin prevent the onset <strong>of</strong><br />
cancer and eye defects. Other notable health benefits include improved cardiovascular health,<br />
increased fertility, and skin health.<br />
Among end-use industries, food & beverages segment dominated in the market in 2017. Owing<br />
to extensive applications <strong>of</strong> phytonutrients in the manufacturing <strong>of</strong> functional food, beverages,<br />
and dietary supplements, the segment is projected to have dominant position in the market over<br />
the forecast period.<br />
Europe held highest market share in the global market in 2017. The region is projected to<br />
maintain its dominance over the forecast period, owing to increasing demand for organic food
products. The organic retail sales in Europe was US$ 30.85 billion in 2014, as estimated by The<br />
International Federation <strong>of</strong> Organic Agriculture Movements.<br />
Asia Pacific is projected to be the fastest growing region in the market over the forecast period.<br />
Key factors such as bulk availability <strong>of</strong> raw materials, increasing population, and rapid<br />
penetration <strong>of</strong> food & beverages and pharmaceutical companies into emerging economies such<br />
as China and India are creating immense opportunities for growth <strong>of</strong> the market. According to<br />
the India Brand Equity Foundation 2017 report on food processing, India is world’s 2nd largest<br />
producer <strong>of</strong> fruits and vegetables. The government expects the processing in this sector to grow<br />
by 25 per cent <strong>of</strong> the total produce by 2025. In 2015-2016, the total production <strong>of</strong> horticulture<br />
sector was pegged at 282.5 million tons.<br />
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Key players in Global <strong>Phytonutrients</strong> <strong>Market</strong><br />
Key players operating in the global phytonutrients market include FMC Corporation, Royal<br />
DSM N.V., Raisio Plc., Archer Daniels Midland Company, Cargill Inc., BASF SE, DowDuPont<br />
Inc., Kemin Industries, Chr Hansen A/S, and Sabinsa Corporation<br />
Key market players are launching new phytonutrient products, in order to meet the rising<br />
demand for phytonutrients from consumers. For instance, in October 2016, Archer Daniels<br />
Midland Company launched a unique line <strong>of</strong> fruit & vegetable extracts enriched in beta-carotene<br />
& anthocyanins for variety <strong>of</strong> applications in food, beverages & dietary supplements. Such<br />
activities by key players are fueling growth <strong>of</strong> the market.<br />
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