Chemical Research Report Phytonutrients-Market | Page 2

Bulk availability of feedstock across the globe is creating immense opportunity for growth of
phytonutrients market. According to the United States Department of Agriculture Report on
World Grain Market and Trade 2018, world’s total production of coarse grains in 2016-2017
was pegged at 1,369,834 thousand metric tons.
Market Outlook
Among product types, carotenoids segment accounted for the highest market share in the
market in 2017. Carotenoids such as beta-carotene, lycopene, lutein, and zeaxanthin prevent the
onset of cancer and eye defects. Other notable health benefits include improved cardiovascular
health, increased fertility, and skin health.
Among end-use industries, food & beverages segment dominated in the market in 2017. Owing
to extensive applications of phytonutrients in the manufacturing of functional food, beverages,
and dietary supplements, the segment is projected to have dominant position in the market over
the forecast period.
Europe held highest market share in the global market in 2017. The region is projected to
maintain its dominance over the forecast period, owing to increasing demand for organic food
products. The organic retail sales in Europe was US$ 30.85 billion in 2014, as estimated by The
International Federation of Organic Agriculture Movements.
Asia Pacific is projected to be the fastest growing region in the market over the forecast period.
Key factors such as bulk availability of raw materials, increasing population, and rapid
penetration of food & beverages and pharmaceutical companies into emerging economies such
as China and India are creating immense opportunities for growth of the market. According to
the India Brand Equity Foundation 2017 report on food processing, India is world’s 2nd largest
producer of fruits and vegetables. The government expects the processing in this sector to grow
by 25 per cent of the total produce by 2025. In 2015-2016, the total production of horticulture
sector was pegged at 282.5 million tons.
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Report includes chapters which deeply display the following deliverable about industry:
• Phytonutrients Market Research Objective and Assumption