Phytonutrients are compounds found naturally in plant foods that are beneficial to human health. They help provide protection against disease and promote optimal health. Consumption of phytonutrient-rich foods has numerous health benefits such as reducing the risk of heart disease, cancer, diabetes and obesity.
The global Phytonutrients Market is estimated to be valued at US$ 8619.5 Bn in 2024 and is expected to exhibit a CAGR of 20% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising health consciousness among consumers is one of the major factors driving the growth of the global phytonutrients market. Due to the growing awareness about the link between nutrition and reduced risk of chronic diseases, there is a significant increase in demand for phytonutrient-rich foods and beverages. Consumers are increasingly conscious about the role of diet in promoting health and preventing diseases. This has propelled them to opt for food products with additional health and wellness benefits offered by phytonutrients. As a result, leading food companies are introducing new product lines fortified with various phytonutrients to cater to consumer demand.
SWOT Analysis
Strength: Phytonutrients have various health benefits such as helping lower blood pressure or risks of heart disease. They can boost immunity and aid in weight management.
Weakness: The quality and quantity of phytonutrients can vary depending on growing conditions and which plant varieties they are sourced from. Not all consumers understand the benefits of phytonutrients or want to spend extra on foods for them.
Opportunity: As awareness rises about disease prevention and holistic health, more people are seeking out foods rich in phytonutrients. Product developers have an opportunity to create innovative foods and supplements that tap into this demand.
Threats: Competition from other health-focused segments such as probiotics could reduce focus on or sales of phytonutrients. Natural disasters and climate change pose threats to crop yields that supply phytonutrients.
Key Takeaways
The Global Phytonutrients Market Share is expected to witness high growth.
Regional analysis: Asia Pacific holds the largest share of the global phytonutrients market currently due to heavy consumption of fruits and vegetables in diets as well as a large population base. North America follows APAC in terms of market share and is projected to grow at a significant rate during the forecast period attributed to a growing awareness about health benefits.
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 . They are adopting strategies such as new product launches, partnerships and expansions to strengthen their position in the market. For instance, in 2021, Robert Bosch GmbH partnered with Anthropic to incorporate artificial intelligence in their products and services
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
