Phytonutrients Market set to hit $10.5 billion by 2035, as transition to organic products steers transformation

Industry revenue for Phytonutrients is estimated to rise to $10.5 billion by 2035 from $4.2 billion of 2023. The revenue growth of market players is expected to average at 7.9% annually for period 2023 to 2035. Phytonutrients is critical across several key applications, including Functional Foods, Dietary Supplements, Skincare and Nutraceuticals. The report unwind growth & revenue expansion opportunities at Type, Source and Application with industry revenue Forecast.

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The Phytonutrients market is characterized by intense competition, with a number of leading players such as DSM, BASF, Kemin, Cargill and Bayer. These players are pushing the boundaries of innovation & technological advancements and forging strategic partnerships to expand the existing reach of the market, thereby shaping its growth trajectory and future prospects by enlarging the total addressable market.

The Phytonutrients market is projected to expand substantially, driven by the Rising Health Awareness and Sustainable Ingredient Sourcing. This growth is expected to be further supported by Industry trends like Advancements in Nutraceuticals; and position the market's continued expansion to reach $7.2 billion by 2030. Moreover, the key opportunities, such as Expanding Applications in Functional Foods, Emerging Markets for Cosmetics and integration with ai technologies, are anticipated to create opportunistic revenue pockets in major demand hubs including U.S., Germany and Japan.

The U.S., Germany, Japan, China and India are leading the market, driving a significant share of global demand. Businesses in these countries can expect steady revenue growth of 5.1% to 7.6% annually from 2023 to 2035. At the same time, Brazil, Indonesia and South Korea are emerging as exciting new opportunities, with fast-growing markets and evolving industry landscapes creating fresh avenues for expansion.

North America and Asia-Pacific are the two most active and leading regions in the market. With challenges like High Production Costs, Lack of Consumer Awareness and regulatory challenges, market Supply Chains from Cultivation / Extraction / Manufacturing and to Applications is expected to evolve & expand further; and industry player’s will be pushed to make strategic shifts towards emerging markets including Brazil, Indonesia and South Korea for expansion of the total addressable market (TAM).

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