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How Rapidly is the Phytonutrients Market Forecasted to Grow Between 2024 and 2033?

In recent times, the phytonutrients market has shown significant growth. It is projected to increase from a value of $4.31 billion in 2023 to a worth of $4.7 billion in 2024, showcasing a compound annual growth rate (CAGR) of 9.1%. Several factors have prompted this upward trend in the historic period, including greater consciousness among consumers regarding health benefits, a rising inclination towards plant-based diets, trending preferences for nutraceuticals and functional food, scientific evidence endorsing health advantages, and an escalating consumer demand for natural antioxidants.

The phytonutrients market is projected to experience substantial growth in the coming years. It is estimated to reach $6.64 billion by 2028, advancing at a compound annual growth rate (CAGR) of 9.0%. The anticipated growth during the predicted period is due to the focus on preventative healthcare, the wide range of uses in functional foods and beverages, the growth of the nutraceutical industry, the increasing popularity of plant-based supplements, and the rising inclusion in personalized nutrition. Notable trends during the forecast period include the use of exotic and novel sources, an emphasis on clean label and natural products, the incorporation of phytonutrients into skincare products, cooperation and partnerships within the industry, and campaigns for consumer education and awareness.

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What Factors Are Behind the Rapid Growth of the phytonutrients Market?

The escalation in cardiovascular health issues is projected to drive the growth in the phytonutrient market. These diseases impact either the heart or blood vessels. Phytonutrients help in decreasing the oxidation of low-density lipoproteins, which in turn augments the lipid profile and manages the apoptotic process in the endothelium. As an illustration, in October 2022, the Centers for Disease Control and Prevention, a national public health agency from the USA, stated that heart attacks and strokes were the cause for 85% of the deaths. Therefore, the increasing prevalence of cardiovascular diseases is resulting in the growth of the phytonutrient market.

What Are the Principal Segments of the Phytonutrients Market?

1) By Type: Carotenoids, Flavonoids, Isothiocyanates, Monoterpenes, Organosulfur, Phenolic, Saponins

2) By Source: Fruits And Vegetables, Cereals, Pulses And Oilseeds, Herbs And Trees, Other Sources

3) By Application: Food And Beverages, Pharmaceuticals, Cosmetics, Supplements, Other Applications

What Emerging Patterns Are Redefining the Phytonutrients Market?

The key trend in the phytonutrients market is product innovation. Concentrating on the development of new offerings to satisfy consumer needs, leading firms in this sector have been active. As an example, DSM Corporation, a Dutch phytonutrients firm, introduced HiPhorius in January 2022, an all-inclusive phytase solution designed to support poultry breeders in generating sustainable and profitable protein. The product’s distinctive capacity to degrade phytate advances precision nutrition through digestible calcium, leading to more uniform performance enhancements and elevated nutrient matrix values; this is critical for peak broiler performance. HiPhorius revolutionizes phytase technology, offering poultry, swine, and aquaculture species producers more options for optimizing diets. The product also enhances the entire lifespan performance of animals while reducing animal emissions and promoting more efficient use of natural resources.

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Which Geographical Regions Are Shaping the Phytonutrients Market Growth?

Europe was the largest region in the phytonutrients market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the phytonutrients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Phytonutrients Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the phytonutrients market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Phytonutrients Market Include

1. Phytonutrients Market Executive Summary

2. Phytonutrients Market Segments

3. Phytonutrients Market Size And Template Market Growth Rate

4. Key Phytonutrients Market Trends

5. Major Phytonutrients Market Drivers

……

25. Key Mergers And Acquisitions In The Phytonutrients Market

26. Top Phytonutrients Companies

27. Phytonutrients Market Opportunities And Strategies

28. Phytonutrients Market, Conclusions And Recommendations

29. Appendix

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