Phytonutrients Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The growing pharmaceuticals industry with the increasing usage of phytonutrients in reducing diabetes and related problems along with the need for slowing down the aging process. For instance, the University of California Los Angeles had carried out a study that revealed daily consumption of pomegranate juice helps in increased stability of the prostate antigens in the prostate cancer survivors with an approximate measure of 4times. In addition, rapidly increasing blindness, cancer, heart diseases, and stroke cases is further stimulating the demand and supply of phytonutrients. All these factors increase the probability of phytonutrients being utilized in dietary supplements and pharmaceutical drugs.

Europe dominated the global phytonutrients market in 2018. Dietary supplements and food products are the major application segments in the European market, attributable to the rising fitness awareness among consumers in the United Kingdom and Germany. In North America, plant nutrition demand has witnessed a significant increase in the past few years, owing to the growing awareness about the health benefits of plant-based products. The market in the Asia Pacific is expected to grow significantly owing to the growing exports and domestic demand for plant-based ingredients. China is one of the largest producers of plant-based ingredients in the region due to the easy availability of raw materials in the country. Also, growth in pharmaceutical, cosmetics, animal feed, and food & beverage industries is likely to propel the demand for phytonutrients from developing economies such as China, India, Indonesia, Malaysia, and South Korea over the next few years.