Phytonutrients are compounds present in plants, which function as anti-oxidants to enhance the immune system, mimic the functions of hormones, detoxify carcinogens, and suppress development of diseases. Most fruits and vegetables contain phytonutrients. Plants produce these substances naturally to protect themselves against viruses and bacteria. Phytonutrients are simultaneously developed by plants to shield against damage, as well as to provide color, flavor and aroma in plants.
Rising demand of phytonutrients in food & beverages industries is a key factor driving growth of the global phytonutrients market. Adoption of phytonutrients in pharmaceutical industry in order to reduce diabetes related problems and usage in dietary supplements is on the rise. Phytonutrients are increasingly used to prevent heart diseases, cancer, and also blindness, which are other factors anticipated to fuel growth of the global phytonutrients market over the forecast period. Furthermore, rising demand of phytonutrients in feed and cosmetics industries is also expected to boost growth of the global phytonutrients market.
However, absence of techniques to measure quality standards of phytonutrients and its supplements is a key factor restraining growth of the global phytonutrients market. Moreover, one of the main issue with phytonutrient supplements is the lack of regulation in products, which includes labeling and advertising which is another factor expected to hamper growth of the global phytonutrients market over the forecast period.
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The global phytonutrients market report has been segmented on the basis of type, application, and region. On the basis of region, the global phytonutrients market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The market in Europe is expected to dominate the global phytonutrients market and accounts for highest market share in terms of revenue, owing to rising number of health conscious population in countries in the region. The market in North America expected to account for the second-highest revenue share contribution to the global phytonutrients market followed by markets in Asia Pacific, Latin America, and Middle East & Africa, owing to growing awareness of towards the benefits of phytonutrients.
Prominent players in the global phytonutrients market include BASF SE, Koninklijke DSM N.V., Cyanotech Corporation, Raisio Plc., Cargill Inc., The Archer Daniels Midland Company, Chr. Hansen A/S, Cyanotech Corporation, and Kemin Industries.