Westford, USA, March 14, 2023 (GLOBE NEWSWIRE) -- The powdered phytochemical derivatives market in Asia Pacific is experiencing remarkable growth thanks to the surge in demand for nutraceuticals and plant-based products globally. This trend is further supported by the increasing adoption of organic farming practices, which has led to higher availability of organic plant materials to produce powdered phytochemical derivatives. Furthermore, leading industry players are actively investing in developing innovative and advanced products, which is expected to fuel the market's growth in the coming years. In addition, the growing consumer awareness about the health benefits of plant-based products and the rise in demand for natural and organic ingredients in the food and beverage industry are major factors driving market growth.
The organic food and beverages industry is rapidly growing and is expected to reach a staggering value of USD 373.48 billion by 2028, according to SkyQuest. One area of the organic food and beverage industry that is likely to see significant growth is the powdered phytochemical derivatives market. Phytochemicals are naturally occurring compounds found in plants that have numerous health benefits. They are commonly used in supplements, nutraceuticals, and functional foods to boost the immune system, improve digestion, and reduce inflammation.
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Phytochemicals are natural compounds found in plants, and they are known to offer various health benefits. In recent times, there has been a rising interest in powdered phytochemical derivatives, which are concentrated forms of these compounds that can be easily incorporated into various products. Powdered phytochemical derivatives can be added to various products, including supplements, food and beverages, and skincare products. They can also be used as a natural coloring agent or flavor enhancer in food products.
Prominent Players in the Powdered Phytochemical Derivatives Market
- Alkaloids Corporation
- Allied Biotech Corp.
- BASF SE
- Arboris LLC
- Naturex SA
- Sabinsa Corporation
- Indena SpA
- Linnea SA
- Dohler GmbH
- Kothari Phytochemicals & Industries Ltd.
- Organic Herb Inc.
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Food Supplements Segment to Emerge as Key Revenue Contributor as Consumers Becoming Health-Conscious and Seeking Natural and Plant-Based Supplements
According to market analysis, food supplements emerged as the leading segment in the global powdered phytochemical derivatives market in 2022. Such rising growth can be attributed to the increasing trend of people opting for dietary supplements to enhance their overall health and wellness. In addition, the demand for phytochemicals in powdered form is increasing as consumers become more aware of the benefits of consuming natural and organic products. As we move towards 2023 and beyond, the food supplements segment is expected to continue its dominance in the powdered phytochemical market, capturing even higher margins. This can be attributed to the growing health-conscious population worldwide, who are seeking natural alternatives to conventional medications.
The Asia Pacific region has established its supremacy in the powdered phytochemical derivatives market, and this trend is set to continue in the coming years. In 2022, the region continued to dominate the market, thanks to its well-established and rapidly growing pharmaceutical and food industries. As per projections, the Asia Pacific region is expected to maintain its leading position in the powdered phytochemical market by 2030. Furthermore, the region is anticipated to witness significant growth in demand for powdered phytochemicals, driven by factors such as rising health awareness among consumers, rising prevalence of chronic diseases, and trend of using natural and plant-based products.
Carotenoids Segment to Register Higher Growth as Carotenoids Finds Wide Range of Applications in the Food, Beverage, and Dietary Supplement Industries
According to a recent market analysis, the powdered phytochemical derivatives market experienced significant growth in 2022, with the carotenoids segment leading the way. Based on current trends, carotenoids are expected to continue to dominate the market from 2023 through 2030. As consumers become health-conscious and look for natural ways to improve their well-being, the demand for carotenoids as a dietary supplement has increased. In addition, the powdered form of these phytochemicals is particularly popular, as it allows for easy incorporation into various food and beverage products.
According to a recent market analysis, the North American region witnessed a significant increase in the production of phytochemicals in 2022. The United States emerged as the largest contributor to this growth, driven by the country's robust infrastructure and the presence of prominent players in the powdered phytochemical derivatives market. Moreover, the US market has witnessed an increase in demand for phytochemicals due to the growing awareness among consumers about the health benefits of natural products. This has further fueled the industry's growth in the country, as more companies are investing in research and development to meet the increasing demand.
The powdered phytochemical derivatives market has recently been analyzed in depth by a comprehensive report, which sheds light on the major players in the industry. The report covers various market aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into the latest trends and significant breakthroughs. The report also offers a geographic market analysis, providing a regional overview of the major trends and demand for powdered phytochemical derivatives.
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Key Developments in the Powdered Phytochemical Derivatives Market
- Senactiv is a cutting-edge supplement launched by Nuliv Science that has taken the health and wellness industry by storm. This innovative product promotes healthy aging by targeting cellular health and reducing oxidative stress. By targeting the mitochondria, which are responsible for producing energy in the body, Senactiv can help to improve overall energy levels and vitality.
- AeroFarms, a leading company in indoor vertical farming, has announced the launch of its latest project, the AgX indoor vertical farm, in Abu Dhabi. This state-of-the-art facility is set to revolutionize how crops are grown in the UAE, utilizing cutting-edge technology to produce fresh, healthy, and sustainable food.
Key Questions Answered in Powdered Phytochemical Derivatives Market Report
- How have the leading companies in the market attained their positions of influence, and what strategies have they used to maintain their dominance?
- What are the regional variations and trends within the global market, and how might these differences impact the market's growth trajectory in the future?
- What are the emerging opportunities and challenges that will likely shape the market's growth prospects in the coming years?
- How are technological advancements and innovations impacting the market, and what role will they play in driving future growth?
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