Lycopene Market 2022 | Current and Future Demand, Analysis, Growth and Forecast By 2029

Lycopene is a red colored carotenoid pigment which is present in high amounts in tomatoes and other red fruits. Lycopene is a potent antioxidant, and thus, has application in various industries such as food, beverage, dietary supplement, functional foods, animal nutrition, cosmetics, and pharmaceutical. Lycopene is non-toxic and has a strong colour, and is therefore used as a food colouring agent. As the demand for organic products is increasing, the manufacturers in various industries are trying to develop organic products that are aligned with the consumer requirements. Thus, some manufacturers have developed organic lycopene which can be further utilized by the other industries in the formation of organic products.

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Lycopene Market: Regional Analysis

The demand for lycopene is estimated to increase in the Europe region. The increasing number of prostate cancer patients is one of the drivers for the rise in demand for lycopene. According to the World Cancer Research Fund International, Guadeloupe had the highest rate of prostate cancer in 2018. Martinique and New Caledonia also have a high occurrence of prostate cancer. Therefore, the demand for lycopene is anticipated to increase in the Europe region due to its potential in the treatment and prevention of prostate cancer.

Lycopene market is anticipated to increase in the Asia Pacific region. The increase in consumer spending and changing lifestyle are a few drivers for the growth of lycopene market in the Asia Pacific region. Also, as the number of working women is increasing, the inclination towards the use of sunscreen products is rising to protect the skin from the pollution. Therefore, the demand for sunscreen products is expected to boosts the sales of lycopene in the Asia Pacific region.

Lycopene Market: Key Participants

Few of the key market players in the lycopene market are:

• BASF SE
• LycoRed Ltd.
• Koninklijke DSM N.V.
• Pioneer Enterprise
• Hindustan Mint & Agro Products Pvt. Ltd.
• Top Pharm Chemical Group

The report covers exhaustive analysis on:

• Lycopene Market Segments
• Market Dynamics
• Market Size
• Supply and Demand
• Current Trends/Issues/Challenges pertaining to market
• Competition Landscape and Emerging Market Participants in market
• Technology related to Production/Processing of lycopene
• Value Chain Analysis of the market

The regional analysis includes:

• North America (U.S., Canada)
• Latin America (Mexico, Brazil)
• Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
• East Asia (China, Japan, South Korea)
• South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
• Oceania (Australia, New Zealand)
• Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)

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Lycopene Market Segmentation

The lycopene market can be segmented on the basis of nature, form, and end-use –

The lycopene market can be segmented on the basis of nature as:

• Organic
• Conventional

The lycopene market can be segmented on the basis of the form as:

• Powder
• Liquid

The lycopene market can be segmented on the basis of the end-use as:

• Food and Beverage
• Dietary Supplements and Functional Foods
• Pharmaceutical Industry
• Cosmetic and Personal Care
• Animal Nutrition

Report Highlights:

• Detailed overview of parent market
• Changing dynamics of the Lycopene market in the industry
• In-depth market segmentation and analysis
• Historical, current, and projected market size in terms of volume and value
• Recent industry trends and developments in the Lycopene market
• Competitive landscape of the Lycopene market
• Strategies of key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on lycopene market performance
• Must-have information for lycopene market players to sustain and enhance their market footprint

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