LONDON, June 26, 2018 /CNW/ -- Frost & Sullivan's recent analysis of the Global Phytonutrient Ingredients Market, Forecast to 2022 reveals that increased consumer awareness of nutritional benefits coupled with advancements in extraction technologies across different ingredient types are key factors driving market growth. Frost & Sullivan anticipates the global phytonutrient ingredient market to reach $7,385.2 million by 2022, with a CAGR of 7.6% between 2017 and 2022.
"The 'Living Healthy' trend among consumers will propel the carotenoids, phytosterols, vitamin E, polyphenols, and flavonoids markets," said Arun Ramesh, Team Leader, Agriculture & Nutrition at Frost & Sullivan. "Furthermore, the global dietary supplements segment is expected to grow the fastest over the next five years due to increased incidence of heart diseases and obesity, and a rise in supplement prescriptions by doctors."
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To gain an advantage in a fragmented market, Ramesh recommends ingredient manufacturers expand their product portfolio through acquisitions to obtain technology access or partner with companies to develop their product range. Focusing on innovative marketing strategies and creating awareness among end consumers will augment advantages.
Eight key trends creating growth opportunities in the market include:
- Rapid development in research studies and clinical evidence prove multiple benefits for specific phytonutrient ingredients;
- Among the end-applications segment, dietary supplements and functional foods are expected to witness higher growth in the American, European, and Asia-Pacific regions due to rising consumer demand;
- The global vitamin E tocotrienol market segment will witness a CAGR of 20.6% over the next four years due to consumers' interest in nutrient-rich products as a preventative measure against rising incidents of lifestyle diseases;
- Innovation across different types of carotenoids, including lutein and zeaxanthin;
- Use of flavonoids to address therapeutic areas, such as reducing menopause symptoms, increasing bone density in women, and preventing prostate and breast cancer;
- A CAGR of 9.8% over the next four years in the polyphenols market, with increased demand from dietary supplements and pharmaceutical applications;
- Phytosterols ingredient manufacturers using innovative drug-delivery systems that demonstrate increased solubility to cater to different food and beverage products; and
- Rise in willingness of consumers to pay for cosmetic products derived from natural extracts.
"Though consumers have benefitted from the wide range of supplements available in the market, their sub-standard quality has always been a formidable barrier to overcome," noted Ramesh. "False claims, deceptive marketing and advertisements, and inadequate clinical evidence on natural extracts by ingredient manufacturers are further factors hindering phytonutrient ingredients market growth."
Growth Opportunities in the Global Phytonutrient Ingredients Market, Forecast to 2022 market intelligence identifies advanced technologies, drivers and restraints, regional trends, market share and competitive environment for players such as BASF, DSM, Omniactive, Dow-Du Pont, Cargill, Kemin, and ADM. Growth opportunities, percent revenues and volume, market trends and product trends for segments such as flavonoids, polyphenols, phytosterols, beta-carotene and other carotenoids, natural vitamin E, and other phytonutrients ingredients are also provided.
Growth Opportunities in the Global Phytonutrient Ingredients Market, Forecast to 2022 is part of Frost & Sullivan's global Agriculture & Nutrition Growth Partnership Service program.
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Growth Opportunities in the Global Phytonutrient Ingredients Market, Forecast to 2022
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SOURCE Frost & Sullivan