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North America Phytochemicals & plant extracts (Nutraceuticals) Market is Expected to Reach $930.1 Million in 2018 - New Report by MicroMarket Monitor

(PRWEB) July 31, 2014

The North America Phytochemicals & Plant Extracts Market report defines and segments the phytochemicals & plant extracts market in North America with analysis and forecast of revenue. This market in is estimated to grow from around $576.3 million in 2012 to $930.1 million by 2018, at a CAGR of 8.3% from 2013 to 2018.

Browse through the TOC of the North America phytochemicals & plant extracts market report to get an idea of the in-depth analysis provided. It also provides a glimpse of the segmentation in the market, and is supported by various tables and figures.

The North American region is popular for its niche consumers that have large amounts of disposable income due to a stable economic structure; however, the population in North America faces problems such as cancer, diabetes, hypertension, and obesity to a large extent due to lavish lifestyles. Consumer concerns related to these diseases have created a massive market for nutraceuticals that incorporate natural plant extract ingredients. North America is a colossal market for plant extract and phytochemical ingredients since a majority of food processing and pharmaceutical companies are established in this region.

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North America is one of the major markets, wherein the U.S. holds a maximum share in the phytochemicals & plant extracts market. As of 2013, the U.S. contributed a major share of around 50% to the market in this region. The North American market for phytochemicals and plant extracts has five major players: Cargill, Incorporated (U.S.), Chr. Hansen (Denmark), Döhler Group (Germany), Danisco (Denmark), and others. Cargill, Incorporated (U.S.) is the major player with a share of 12.50% followed by Chr. Hansen (Denmark) with a share of 12.40%.

The phytochemicals & plant extracts market is segmented and projected on the basis of applications, namely, functional food, functional beverages, dietary supplements, animal nutrition, and personal care. The most preferred application is in dietary supplements. The market is further segmented and forecasted on the basis of major countries, such as the U.S., Canada, and Mexico.

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This report also comprises market share, supply chain and value chain analyses, and market metrics such as drivers and restraints. In addition, it also presents a country-level competitive landscape and company profiles of the aforementioned key players.

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Europe Phytochemicals & plant extracts (Nutraceuticals) Market
The phytochemicals and plant extracts (Nutraceuticals) market in Europe had been valued at $710.18 million in the year 2012, and is estimated to reach $1,150.64 million by 2018, at a CAGR of 8.4%.

It is segmented on basis of applications and geographies. The European Union has implemented stringent norms against the utilization of chemical ingredients in food products, pharmaceuticals, and dietary supplements. This has caused manufacturers to utilize ingredients derived from natural sources. Plant extracts and phytochemicals are the obvious choices for this purpose. Therefore, this drives the market for plant extracts and phytochemicals in Europe.

Asia-Pacific Phytochemicals & plant extracts (Nutraceuticals) Market
The phytochemicals & plant extracts (Nutraceuticals) market in Asia-Pacific had been valued at $911.7 million in the year 2012, and is projected to reach $1,463.6 million by 2018, at a CAGR of 8.2%.

It is segmented on basis of applications and geographies.Countries such as China, India, Japan, and Australia, in Asia-Pacific, are witnessing a large number of patents that are being registered under plant extracts and phytochemicals. This provides positive signs of intensive research and development activities that are being undertaken to enhance plant extract applications in various products. Asia-Pacific is no longer only a manufacturing destination, but is also gradually transforming into a research and development hub for plant extracts and phytochemical ingredients.

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