Lycopene Market

Lycopene Market Size, Growth, Forecast (2023-2028)

The global lycopene market size was estimated to be USD 126 million in 2022 and is foreseen to reach about USD 161 million by 2028, reporting a CAGR of 5.0% during the determined time frame.

Market Overview:

Lycopene is available in tomato species known as SolanumLycopersicum, for the most part, found in Central and South American locales. It is a kind of carotenoid and phytonutrient that is a fundamental cancer prevention agent for the human body, which helps in shielding from degenerative ailments. The market is principally determined by the expanding number of advantages offered by lycopene in preventive medicinal services and its rising applications in a variety of enterprises, internationally.

Market Trends:

Rising utilization of lycopene in a variety of ventures because of its capacities as a wellbeing ingredient and coloring specialist

Lycopene is seeing an ascent in utilization in a variety of businesses including dietary supplements, food, personal care and beautifiers, and pharmaceuticals. It is encountering this development because of its properties that fundamentally incorporate being a wellbeing ingredient, trailed by being a coloring operator. The wellbeing ingredient property represented most of the business in the worldwide lycopene market. The coloring operator property has a nearly smaller offer in the global market for lycopene. This is a consequence of the constrained utilization of lycopene as a coloring specialist in the food business. Likewise, uses of lycopene as a wellbeing ingredient are extending, which is additionally anticipated to help the development of lycopene in the worldwide market.

Recent Developments in Lycopene Industry:

• In January 2018, E.I.D. Repel (India) went into an association with Synthite Industries Ltd to synergize the organization's showcasing quality in its human food portion.
• In September 2018, E.I.D. Repel (India) procured Alimtec S.A. (Chile), which is a piece of Bayer Group (Germany), to fortify its nutraceutical business.
• In June 2019, D.D.W. (U.S.) The Color House procured the regular colouring business from DuPont's Nutrition and Biosciences division to grow its worldwide reach and to include assembling and specialized characteristics in new standard colours.

REPORT COVERAGE:

Drivers and Restraints:

The global lycopene market is driven by the expanding interest for natural-based lycopene items that contain hostile to malignancy properties that secure against degenerative infections. The other prominent aspect pushing the lycopene market is the mounting interest for natural colors in prepared-to-eat meat products, along with the evolution of end-use applications of lycopene in food and beverage companies, beauty care products and pharmaceuticals. Alongside expanding utilization of lycopene in different enterprises, the worldwide lycopene market is relied upon to watch healthy development over the estimated time frame.

The lycopene market is portioned based on application into beautifying agents in creams and salves, pharmaceuticals in tablets and containers, food colouring operator in food items, for example, prepared to-eat meat items, drinks, wholesome bars, dietary supplements and dairy items. Subsequently, the worldwide lycopene market is required to build income commitment over the conjecture time frame fundamentally.

On the other hand, the higher expense of the innovative work, the harmful impacts of an overdose of lycopene, and stringent government guidelines and endorsement processes are the fundamental limitations for the worldwide lycopene market.

Lycopene Market Segmentation Analysis:

The global lycopene market is sectioned based on source, application, structure, property and region.

Source:

• Synthetic
• Natural

The global lycopene market is portioned based on the source into synthetic lycopene and natural lycopene. The artificial lycopene is made by utilizing concoction solvents and engineered crude materials, while natural lycopene is made by using conventional solutions and common crude materials.

Application:

• Dietary Supplements
• Food and Beverages
• Personal Care items
• Pharmaceuticals

Dietary supplements to record the most noteworthy CAGR during the foreseen time. The interest for dietary supplements is on the ascent in created and developing nations among the millennial populace. Lycopene establishes to be a key ingredient in the dietary supplements devoured by a particular day by day. Likewise, industry specialists anticipate the selection rate for dietary supplements to build the most in the following five years. Thus, lycopene's crucial job in the nutritional enhancement application in view of its particular medical advantages is required to support the development during the gauge time frame somewhere in the range of 2020 and 2025.

Form:

• Beadlets
• Oil suspension
• Powder
• Emulsion

Beadlets to be the most favoured type of lycopene in the worldwide market in the future. The beadlets type of lycopene represented the most significant portion in the global lycopene market in 2019 and is anticipated to finish a similar pattern the gauge year until 2025. Beadlets are the most commonly utilized type of lycopene all around, as it includes the most noteworthy substance of lycopene concentrate. Among the various structures, for example, oil suspension, powder, and emulsion, the beadlet structure is seen to be delivered by the more significant part of the lycopene producers, bringing about more popularity for it. Hence, request and suppl, both preferring the beadle type of lycopene, is likely to bring its predominance in the market during the foreseen period.

Property:

• Health ingredient
• Coloring agent

Regional Analysis:

Geologically, the worldwide lycopene industry can be partitioned by significant areas that incorporate North America, Latin America, Europe, Asia Pacific, Middle East and Africa. Among all the regions, Europe has accounted for the most predominant portion in the worldwide lycopene market, which was followed by North America. Expanding utilization of lycopene in the meat industry combined with rising interest for natural colorants has fortified the development of the global lycopene market and thus is anticipated to substantially grow the income commitment of the market over the gauge time frame.

The lycopene market in the Asia Pacific area is anticipated to develop at the most noteworthy CAGR from 2020 to 2025. Elements driving the development of the Asia Pacific market incorporate the nearness of the lycopene manufacturing organizations in this locale. Moreover, the creation of tomatoes is the most noteworthy among all the districts, all around bringing about the lower cost for acquiring crude material. The advancement of advances and bottomless coarse material are driving the makers to create and supply lycopene to a variety of ventures at a severe cost and increasing a bit of leeway over the rivals in different areas.

Besides, the rising mindfulness on advantages of lycopene in food, dietary supplements, and personal care and cosmetic applications is relied upon to help the interest for lycopene, additionally bringing about higher fares from the surplus production of lycopene in this locale, which will additionally support the expansion of this area in the worldwide lycopene market.

Key Players in the Market:

Major Key Players in the Global Lycopene Market are

• Allied Biotech Corporation (China)
• Lycored (Israel)
• DSM (Netherlands)
• Wellgreen Technology Co Ltd (China)
• Divi's Laboratories (India)
• San-Ei Gen F.F.I., Inc (Japan)
• DangshangSannuo Limited (China)
• DDW (US)
• Döhler (Germany)
• Farbest Brands (US)
• Zhejiang NHU CO. Ltd (China)
• EID Parry (India)
• Shaanxi Kingsci Biotechnology Co. Ltd (China)
• Vidya Herbs (India)
• Xi'an Pincredit Biotech Co Ltd (China)