Asia Pacific Phytonutrients Market

Asia Pacific Phytonutrients Market Size, Growth, Trends and Forecast:

Asia Pacific region holds the major share of the market of Phytonutrients among all the regions, which is likely to reach a value of 1983.8 million US dollars by the end of 2021 and record a compound annual growth rate of 8.7% during the forecast period of 2022 - 2027. Growing demand for phytonutrient rich products and increasing awareness for health & wellness among older & younger population propels the growth of the market of Phytonutrients in the Asia Pacific region.

Covid-19 Impact on Asia Pacific Phytonutrients Market:

Coronavirus has impacted the global industries in three ways, by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and associated markets.

The ongoing situation has become a major threat for the Asia Pacific Phytonutrients market. The companies are ready to restart their manufacturing units since the lockdown has lifted in so many companies with some stringent regulations by the local authorities and gave permissions to all the industries to restart their manufacturing units.

As per the analysis, the Phytonutrients market is expected to have an impeccable growth rate in the Asia Pacific region in the next few years owing to the surge in demand from end-user businesses, increasing purchasing power and funding by the companies for technological advancements in the field, which is estimated to drive the expansion of the local market.

Drivers and Restraints of Asia Pacific Phytonutrients Market:

Drivers:

Increasing demand from several end-user applications and ingredient types is the major driving factor that propels the growth of the Phytonutrients market in the Asia Pacific region.

Growing demand for phytonutrients in pharmaceutical industry is also one of the major driving factors of phytonutrients in the Asia Pacific region. Another major driving factor is the increasing investments by the companies from the emerging economies such as China, Japan and India for developing novel technological advancements, which is supporting the market expansion in the Asia Pacific region.

Restraints:

One of the major limitations effecting the Asia Pacific Phytonutrients Market is the stringent regulations from the government authorities. Another major restraint impeding the development of the Phytonutrient market is the side effects associated with increased and excessive usage and consumption of phytonutrient and absence of appropriate and standardized equipment for the extraction of phytonutrient from plants.

Asia Pacific Phytonutrients Market Segmentation:

Asia Pacific Phytonutrients Market – By Type:

• phytosterols

• flavonoids
• caretonoids
• phenolic compounds
• vitamin E
• other types

• betalains
• alkaloids
• monoterpenes
• anthocyanins
• lignans

Asia Pacific Phytonutrients Market – By Application:

• pharmaceuticals
• food & beverages
• cosmetics and feed

Asia Pacific Phytonutrients Market – By Source:

• fruits & vegetables
• herbs & trees
• cereals
• pulses & oilseeds
• other sources

Regional Analysis:

Asia Pacific region holds the major share of the market value of Phytonutrients among the other regions due to the surge in demand from various end-user verticals.

Furthermore, increasing investments by the companies for developing new products by the companies in the emerging nations such as China, India and Japan also helps the market to increase in the region, which will promote the growth of the Phytonutrients market in the Asia Pacific region in future.

Key Players

Some of the key players of the Asia Pacific Phytonutrients Market are Takasago International Corporation, Archer Daniels Midland Company, Chr Hansen Holding A/S, Kemin Industries Inc., Cyanotech Corporation, among others.