Phytonutrients Market Continues To Gain Significant Traction with BASF Care Creations Launching Four New Skin and Hair Nourishment Products Cultivated From Vietnamese Rambutan

 

Phytonutrients Market

Phytonutrients are food-based chemicals that are produced by plants, usually for the purpose of helping them defend themselves against bacteria, fungi, and other forms of plant-borne disease. Some phytonutrients are now being used as natural poisons and others are still used traditionally as traditional medicine. In recent years, however, phytonutrients have gained much more popularity as a source of dietary nutrition. There are many different types of phytonutrients, including those that have antibacterial, antifungal, antiviral, antiparasitic, quaternary antigens, and synthetic antigens. A number of plants produce phytonutrients in various amounts; some are more abundant than others.

Increasing demand for phytonutrients in the pharmaceutical industry is expected to drive growth of global phytonutrients market. The pharmaceutical industry is increasingly expanding in both developed and emerging economies with increasing use of phytonutrients in diabetes medications. According to the India Brand Equity Foundation (IBEF), India’s domestic pharmaceutical market was valued at US$ 20.03 billion in 2019, increasing from US$ 18.12 billion in 2018. Besides, rapidly increasing heart diseases and stroke cases have increased the demand for phytonutrients worldwide. According to the Centers for Disease Control and Prevention (CDC), over 795,000 people suffer from a stroke in the U.S. Phytonutrients can enhance immunity and intercellular communication, which can help prevent the above-mentioned diseases. Hence, such factors are expected to drive growth of the global phytonutrients market. Furthermore, increasing end-use applications such as in functional foods are expected to propel the global phytonutrients market growth in the near future.

However, a lack of awareness among consumers is expected to hamper the global phytonutrient market growth in the near future. Besides, the promotion of phytonutrients to control cancer can present lucrative growth opportunities in the near future. Among regions, Europe is expected to witness significant growth in the global phytonutrients market. This is owing to growing fitness awareness among consumers in the U.K. and Germany. Furthermore, North America is expected to register a robust growth rate, owing to increasing public awareness regarding the health benefits of a plant-based products in the region.

Key competitors operating in the global phytonutrients market are Archer Daniels Midland Company, Takasago International Corporation, BASF SE, Allied Biotech, Chr. Hansen Holding A/S, Kemin Industries Inc., DSM Nutritional Products Ltd, and Cyanotech Corporation.

For instance, in June 2019, BASF Care Creations launched four new active ingredients Rambutan, Nephydrat, Nephoria, and Rambuvital for skin and hair nourishment cultivated from Vietnamese rambutan.

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