Global Lycopene Market – Industry Trends and Forecast to 2029

Market Analysis and Insights Global Lycopene Market

Data Bridge Market Research analyses that the global lycopene market to be growing at a CAGR of 4.90% in the forecast period of 2022-2029 and is likely to reach the USD 176.11 million by 2029.

Lycopene is a carotenoid that is most typically found in tomatoes and extracted naturally. It possesses a variety of medical characteristics, which has boosted its popularity in the nutraceutical sector. Lycopene is strong in antioxidants, which aid in the battle against free radicals in the body. Free radicals in the body cause cell damage, and lycopene consumption helps to reduce these free radicals. Lycopene has also been linked to a lower risk of heart disease and diabetes, as well as the prevention of cancers such as lung, bone, and prostate cancer. Another benefit of lycopene is that it aids in the preservation of cardiovascular health. Consumption of lycopene-rich fruits and vegetables is the most prevalent source of lycopene in the body.

The rise in fast food consumption and the adoption of unhealthy lifestyles have boosted lycopene use in the form of nutraceutical supplements and will further drive the lycopene market. Furthermore, the high demand for natural colorants and functional ingredients from various applicable industries and technological advancement linked with the development and extraction of lycopene compounds are some macroeconomic factors that are positively impacting the worldwide lycopene market. Other factors including benefits associated with lycopene in preventive healthcare and surging number of population will cushion the market’s growth rate. Another significant factor is increasing utilization of carotenoids in cosmetics will accelerate the growth rate of lycopene market. The rise in number of application in dietary and food products will further expand the growth of lycopene market.

Moreover, the rise in the focus on healthy lifestyle and upsurge in the demand from pharmaceutical industry will boost the beneficial opportunities for the growth of lycopene market. Additionally, rising demand for naturally sourced lycopene will act as major driver and further create new opportunities for market’s growth in the above mentioned forecast period.  

However, stringent regulatory norms in terms of development and commercialization of lycopene will hamper the market growth rate. Additionally, the dearth of research and development in developing nations obstruct the lycopene market's overall growth. Also, harmful effects of lycopene and complications involved in meeting the required quality standards will challenge the lycopene market throughout the forecast period.

This lycopene market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on lycopene market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Lycopene Market Scope and Market Size

The lycopene market is segmented on the basis of type, form, grade, application and end use. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

• Lycopene market on the basis of type is segmented into synthetic lycopene, natural/conventional lycopene and organic lycopene.
• On the basis of form, the lycopene market is segmented into powder, capsule and liquid/syrup.
• Based on grade, the lycopene market is segmented into pharmaceutical grade and food grade.
• On the basis of application, the market consists of pharmaceutical, cosmetics and food colouring agent. Pharmaceutical segment is further sub-segmented into tablets and capsules. Cosmetics segment is further sub-segmented into creams and lotion. Food colouring agent segment is further sub-segmented into ready-to-eat meat products, beverages, nutritional bars, dietary supplements and dairy products.
• Lycopene market is also sub-segmented on the basis of end use into food and beverages, oil extraction and pharmaceutical.

Lycopene Market Country Level Analysis

The lycopene market is segmented on the basis of type, form, grade, application and end use.

The countries covered in the lycopene market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).

Europe dominates the lycopene market and will continue to flourish its trend of dominance during the forecast period owing to the increasing prevalence of prostate cancer and growing awareness about the pharmaceutical benefits linked with lycopene in the treatment of prostate cancer in this region. Asia-Pacific is expected to grow during the forecast period of 2022-2029 due to the growing demand for sunscreen due to rising number of dermatological disorders and high utilization of lycopene in cosmetic products in this region.

The country section of the lycopene market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Global Lycopene Market Share Analysis

The lycopene market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to lycopene market.

Some of the major players operating in the lycopene market are GNC Holdings, LLC, DSM, Lycored, Jamieson Laboratories, BASF SE, Wellgreen Technology Co., Ltd., Chr. Hansen Holding A/S, San-Ei Gen F.F.I., Inc., Pioneer Enterprise, HINDUSTAN MINT & AGRO PRODUCTS PVT. LTD., Top Pharm Chemical Group, Plamed Green Science Group, SV Agrofood, VIDYA HERBS, SunShine Bio-Tech, Xi’an Natural Field Bio-technique Co., Ltd., Plantnat, Allied Biotech Corporation, E.I.D. - Parry (India) Limited, Digestive Disease (DDW), and Döhler GmbH, among others.

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