Market Trends of Phytonutrients Industry
Rising Trend of Functional Food and Supplements Driving the Market Growth
With the changing lifestyle of consumers, the trend for a healthy diet is drastically increasing among consumers. Consumers are more into healthy foods such as vegetables, fruits, nuts, etc.; these products are rich in phytonutrients and other vitamins. Moreover, these food products escalate several health benefits to consumers; thereby, consumer demand is also rising. Due to the increasing demand for phytonutrient products, many pharma companies are also innovating several techniques to innovate several health supplements to meet the consumer's preference. In addition, rapidly increasing eye problems, cancer, heart diseases, and stroke cases stimulate the demand and supply of phytonutrients. All these factors increase the probability of phytonutrients being utilized in dietary supplements and pharmaceutical drugs, driving the market. Alongside this, the demand for functional food and beverages that are fortified with essential phytonutrients like vitamins and minerals is propelling the growth of the market further. Manufacturers are incorporating these ingredients into their products, in turn, increasing the growth of the market studied. Therefore, the rising awareness about healthy eating habits, along with increasing demand for functional and fortified food and beverages and dietary supplements is driving the growth of phytonutrients market globally.
Europe is the largest market
Europe is anticipated to dominate the global phytonutrients market with a significant market share owing to the increasing consumer demand for plant-based food products. Moreover, the growing demand for plant-derived fortified food products across the country is increasing the growth of the market studied. There is an expansion of the phytonutrient market in the region, due to an increase in demand for non-GMO products. On the other hand, the increasing disposable income of consumers is further raising the sales of phytonutrient food products in the market. Alongside this, phytonutrients help in dealing with different health problems like cardiovascular diseases, gastrointestinal problems, and others. Consequently, the growing health problems, along with an increasing geriatric population in the country is driving the growth of the market. Further, government regulations relating to phytonutrients impact the growth of the market. In line with this, phytonutrients are recognized as GRAS (Generally Recognized As Safe), along with having gained regulatory approval from the European Union. Thereby, the increasing consumption of phytonutrient food products, rising health issues, and benefiting government regulations are anticipated to propel market growth over the forecast period.
