Powdered Phytochemical Derivatives Market Size, Share, Growth Analysis, By Type(Carotenoids, Carbohydrate, Lipids, Phenolics), By Application(Personal Care, Functional Food & Beverages, Food Supplements, Animal Feed), By Region - Industry Forecast 2024-2031

Powdered Phytochemical Derivatives Market Driver

• Increasing awareness regarding veganism is poised to drive the market growth. Consumers seek multi-component products that are readily available on the market and also help them compensate for their fast-paced lifestyle. With increased demand for nutrient-rich health foods, there is a greater need for the production of healthy foods with healthier ingredients. Researchers have been looking for new food additives to improve the functionality and nutritional value of the product. As a result, farmers are turning to powdered phytochemicals derivatives in order to produce enough vegan, nutrient-rich food for human consumption; which is supporting the market growth.

Powdered Phytochemical Derivatives Market Restraint

• Despite an increased demand for the products, certain factors are limiting market growth. The highly demanding and complex regulatory structure for the commercialization of powdered phytochemical derivatives is one of the factors hindering the growth. The global markets have few unified provisions governing the content of these items. Other botanicals, botanical preparations, and bioactive compounds have yet to have their upper limits and conditions of usage established. The differing views of various government organizations on the kind of ingredients that should be permitted and in what quantities further complicates harmonization; which, thereby, limits the market growth.