Published by Jessica Weisman-Pitts
Posted on February 28, 2025
In 2024, the global phytochemical market is poised to reach a valuation worth US$ 7,146.2 million. During the forecast period, the demand is anticipated to garner a CAGR of 9.6% and hence reach a sum of US$ 17,896.2 million by the end of 2034.
The market is driven by the industry's focus on both collaboration and sustainability. As consumers grow more environmentally conscious, businesses are adopting ethical and sustainable sourcing practices. Strategic partnerships between established and emerging companies are fueling research and development, enhancing the market's continued growth and competitiveness.
Key Takeaways from the Market Study:
“Growth in the global phytochemical market is driven by a rise in plant-based diets, a change in healthcare towards preventative care, and growing health consciousness. Collaborations and ongoing research lead to innovations, spurring market expansion,” remarks a Fact.MR analyst.
Competitive Landscape:
Leading companies in the phytochemical industry are driving innovation through advancements in extraction technology, sustainable sourcing, and research. They form strategic partnerships to ensure a consistent raw material supply chain, while highlighting health benefits in their marketing to boost consumer demand. Long-term profitability is driven by continuous innovation, maintaining quality standards, and expanding into new markets.
Startups in the phytochemical sector are disrupting the industry by focusing on ethical, sustainable, and innovative sourcing. They invest heavily in research to discover new uses and benefits, adapting quickly to market changes. These startups also prioritize partnerships and authentic marketing to establish their presence in the competitive market.
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Key Market Players in the Phytochemical Market:
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Product Portfolio:
Linnea SA, which is based in Switzerland, focuses on the manufacturing and distribution of plant extracts and natural ingredients. Specializing in phytochemicals, specifically those from plants, Linnea caters to a range of industries such as pharmaceuticals, nutritional supplements, and cosmetics with a wide selection of high-quality plant-derived ingredients.
Sabinsa Corporation specializes in probiotics, nutritional compounds, and plant extracts. Among its renowned products, supported by scientific evidence, are Curcumin C3 Complex, Boswellin, ForsLean, LactoSpore, BioPerine, and Silbinol. These unique ingredients address a diverse array of health and wellness demands, which affirm Sabinsa's dedication to quality and innovation in the worldwide ingredients industry.
More Valuable Insights Available:
Fact.MR offers an unbiased analysis of the global phytochemical market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.
To understand opportunities in the phytochemical market, the market is segmented based on type (carotenoid, flavonoid, phytosterols, polyphenols, others), application (food & beverage industry, cosmetics & personal care products, pharmaceuticals, nutraceuticals, animal feed, others) and region (North America, Europe, Latin America, East Asia, South Asia & Oceania, Middle East & Africa).
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