Phytochemical Market

Phytochemical Market Outlook (2024 to 2034)

The global phytochemical market is estimated to attain a valuation of US$ 7,146.2 million in 2024 and is forecast to reach a value of US$ 17,896.2 million by 2034, with a projected CAGR of 9.6% from 2024 to 2034.

Key Market Growth Drivers

• The market for phytochemicals has two notable aspects: a rise in consumer demand, driven by rising health consciousness, for functional foods and supplements containing phytochemicals.

• Continuous research and development initiatives are revealing new advantages and uses for phytochemicals, extending their potential applications outside of conventional fields, and fostering innovation and market expansion.

• The growing demand from consumers for phytochemical-containing supplements and functional meals is a noteworthy feature. Growing consumer knowledge of the health advantages of consuming phytochemicals is fueling this trend and pushing the market for novel and varied product offers.

Report Attributes	Details
Estimated Market Value (2024E)	US$ 7,146.2 million
Forecast Market Value (2034F)	US$ 17,896.2 million
Global Market Growth Rate (2024 to 2034)	9.6% CAGR
Carotenoids Segment Growth Rate (2024 to 2034)	10.7% CAGR
Food and Beverage Segment Growth Rate (2024 to 2034)	9% CAGR
North America Market Share (2024)	24.8%
East Asia Market Share (2024)	22.8%
Key Companies Profiled	Döhler GmbH Naturex SA Kemin Industries Inc. Linnea SA Sabinsa Corporation Kothari Phytochemicals & Industries Ltd. Indena S.p.A Alkaloids Corporation Arboris LLC Allied Biotech Corp. Organic Herb Inc. (OHI)

What Factors are Responsible for the Growth of the Global Phytochemical Market?

“Plant-based and organic diets are the current favorites of the consumers boosting the market demand.”

An important factor propelling the phytochemical market is the growing popularity and understanding of plant-based diets. Demand for foods and supplements high in phytochemicals is rising as people adopt healthier lifestyles. Plant-based and organic diets are linked to a host of health advantages, supporting the rising movement toward sustainable and mindful living.

Plant-based phytochemicals are becoming increasingly popular because of this dietary change, which is driven by both environmental and health concerns. The growing number of consumers looking for plant-based solutions for their health and nutrition is a major industry driver, spurring worldwide innovation and opportunity for phytochemical products.

“Consumer focus on preventive healthcare to open up new avenues for the market.”

One important factor propelling the phytochemical market is the growing emphasis on preventative healthcare throughout the world. Demand for naturally occurring substances like phytochemicals, which are recognized for their capacity to promote health, is rising as consumers place a higher priority on wellbeing.

The growing popularity of these ingredients can be attributed to the notion that they are useful in avoiding chronic illnesses and promoting general well-being. The food, beverage, and supplement sectors are benefiting from this trend, which is encouraging innovation and product development and driving the global phytochemical market's expansion.

What are the Major Restraints to the Growth of the Phytochemical Market?

“Scarcity of raw materials and difficulty in sourcing to impede market growth.”

The supply chain may be disrupted by irregular raw material availability brought on by geographic and climatic conditions. Tight laws governing the usage and marketing of phytochemicals present another obstacle to industry growth. Smaller firms find it difficult to enter the market owing to the high expenses of research, development, and extraction technologies.

Widespread adoption may be hampered by consumer ignorance and skepticism over phytochemicals' effectiveness. The market's expansion is constrained by competition from synthetic substitutes. To maintain long-term market sustainability, addressing these issues calls for industry collaboration, education, and sustainable sourcing practices.

How are Startups Trying to Establish a Strong Position in the Global Phytochemical Market?

“Startups are focusing on ethical and environmental sourcing to gain a strong market position.”

Innovative strategies are being used by startups to gain a foothold in the global phytochemical market. They stand apart by putting a focus on ethical and environmental sourcing.

Numerous companies make large investments in research and development, leading to the discovery of innovative phytochemical uses and extraction techniques. Startups are agile and flexible, swiftly adapting to market trends and meeting the growing demand for natural as well as functional ingredients.

Their skills are enhanced by strategic alliances with research institutes and partnerships with existing players. A lot of these firms place a strong emphasis on transparent labeling, informing customers about the health advantages of phytochemicals. They want to make a name for themselves in the competitive marketplace by combining sustainability, innovation, and consumer education.

Country-wise Insights

The phytochemical market is accelerating in North America and East Asia. In 2024, North America is poised to gain a 22.1% market share. Growing interest in plant-based diets, a boom in health-conscious consumer preferences, and more knowledge of the various health advantages linked to phytochemical intake are driving the market in the region.

In comparison, it is projected that by 2024, East Asia will reach a market share of 23.7%. The market for phytochemicals is booming in East Asia because of the region's growing emphasis on holistic health, societal acceptance of herbal practices, and growing knowledge of the various health benefits of eating foods and supplements high in phytochemicals.

What makes the United States a Potential Market for Phytochemical?

“Increased focus on health and wellness to accelerate the market growth in the U.S.”

Attributes	The United States
Market Value in 2024	US$ 1,453.9 million
CAGR from 2024 to 2034	8.2%
Projected Value in 2034	US$ 3,186.2 million

The market in the United States is expected to be valued at US$ 1,453.9 million in 2024, and it is anticipated to gain a market share of 82.1% in 2024. A growing emphasis on health and well-being is driving the phytochemical market in the United States. Customer demand is driven by a growing understanding of the significance of phytochemicals in avoiding chronic illnesses and boosting general well-being.

The market is expanding as a result of the growing popularity of plant-based diets and consumer desire for natural foods and supplements. A proactive regulatory framework that supports the use of phytochemicals and continuous research that highlights the various health advantages of these compounds are driving the phytochemical market in the United States.

What will be the Outlook of the Phytochemical Demand in China?

“Consumer emphasis on food fortification to boost demand in China.”

Attributes	China
Market Value in 2024	US$ 1,223.6 million
CAGR from 2024 to 2034	9.6%
Projected Value in 2034	US$ 3,063.5 million

In 2024, the China market for phytochemicals is expected to be valued at US$ 1,223.6 million. The industry is also projected to acquire a market share of 75.2%. A growing middle-class population and rapid urbanization have resulted in a health-conscious customer base that is gravitating toward functional foods and nutritional supplements enhanced with phytochemicals. The emphasis on plant-based treatments in traditional Chinese medicine increases demand even more. This trend is supported by government programs that encourage leading a better lifestyle and by adding phytochemicals to food fortification.

Increasing concerns about pollution along with environmental stresses increase the attractiveness of phytochemicals due to their antioxidative qualities, which address certain health issues common in China's distinct environmental setting.

Category-wise Insights

Which Kind of Phytochemical is likely to Boom in Demand during the Forecast Period?

“Carotenoids are likely to gain ample traction during the forecast period.”

By Type	Value Share in 2024
Carotenoid	30.65%

The carotenoid segment is estimated to hold 30.65% of the market share in 2024. During the forecast period, the segment is anticipated to garner a 10.7% CAGR. Carotenoids are expected to gain momentum in the global phytochemical market owing to their well-known antioxidant qualities and health advantages. Demand is being driven by growing consumer knowledge of their significance in promoting immune system function, skin protection, and eye health.

Furthermore, the addition of carotenoids to functional foods as well as dietary supplements is consistent with the growing trend toward health-conscious consumption. The predicted rise of carotenoids within the phytochemical market is further aided by the growing nutraceutical sector and consumer desire for natural ingredients.

In Which Sector, are Phytochemicals Mostly Used?

“Phytochemical are highly used in the food and beverage sector.”

By Application	Value Share in 2024
Food & Beverage Industry	36.76%

In 2024, the food and beverage segment is likely to gain a market share of 36.76%. The food and beverage industry uses phytochemicals extensively since they are natural components with varied health advantages. These plant-derived chemicals improve nutritional profiles and boost wellbeing. They are well-known for their anti-inflammatory, anti-cancer, and antioxidant capabilities.

Their incorporation into a range of food products corresponds with the increasing inclination of consumers towards healthier and more functional solutions. Phytochemicals are widely used in the food and beverage industry because they enable the production of new, health-conscious products in response to the growing consumer demand for natural, nutrient-dense products.

Competitive Landscape

Leading companies in the global phytochemical market concentrate on research and development to find new chemicals that may be beneficial to health. To increase production efficiency, they invest in innovative extraction methods and environmentally friendly sourcing.

Establishing robust raw material supply chain stability is facilitated by strategic alliances and cooperation with research institutes and suppliers. Marketing campaigns highlight the benefits of phytochemicals for health, raising consumer knowledge and demand. These attempts by these companies to maintain profitability in the volatile phytochemical business are aided by ongoing innovation, a commitment to quality standards, and growth into new markets.

Some key players in phytochemical industry are Döhler GmbH, Naturex SA, Kemin Industries Inc., Linnea SA, Sabinsa Corporation, Kothari Phytochemicals & Industries Ltd, Indena SpA, Alkaloids Corporation, Arboris LLC, Allied Biotech Corp., and Organic Herb Inc. (OHI).

Some key developments in this market are :

• In 2023, Döhler, a manufacturer of integrated solutions, ingredient systems, and natural ingredients for the food and beverage sector, announced the location of its new lab hub and office in North Brunswick, New Jersey. The newly opened space is an innovative taste center that emphasizes innovation in flavor and taste modification.

• By bringing its global experience in natural flavors to the US, Döhler is enabling its customers with lab-to-industrial-scale solutions for flavors and finished goods. This new facility joins the company's four current operations in the US.

Segmentation of Phytochemical Market Research

• By Type :

  • Carotenoid
  • Flavonoid
  • Phytosterols
  • Polyphenols
  • Others

• By Application :

  • Food & Beverage Industry
  • Cosmetics & Personal Care Products
  • Pharmaceuticals
  • Nutraceuticals
  • Animal Feed
  • Others

• By Region :

  • North America
  • Eastern Europe
  • Western Europe
  • Latin America
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa