Lycopene Market Analysis & Forecast 2024-2030

Global Lycopene Market is expected to reach USD 343.69 million by 2030 with CAGR of 5.1% between 2024 and 2030

Lycopene is a carotenoid and phytonutrient substance which is found in the tomato species known as Solanum lycopersicum, mostly present in Central and South America regions. Lycopene is primarily present in red fruits and vegetables which includes tomatoes, watermelon, papaya, guava, sweet red peppers, mango, carrots, red cabbage, and pink grapefruits. Lycopene is found in high amounts in tomato and tomato-based products as compared with other fruits and vegetables. Lycopene is a very necessary compound which is responsible for the red colour in these foods.  

Lycopene is an essential antioxidant for the human body which helps in protecting from degenerative diseases. Lycopene also helps in the prevention of DNA damage in the cells along with helping them to function better in the body. Lycopene present in the blood and fatty tissues in the body reduces the risk of cancer, heart disease and age-related macular degeneration. Lycopene is useful in protection against stomach, colon, and lung and skin cancer. Lycopene helps in reducing the risk of arteriosclerosis and protects skin from UV damage exposure. Lycopene is mostly used in creams and lotions for anti-ageing.  

The Lycopene Market driving factors are increasing demand for organic-based lycopene products which contains anti-cancer properties that protect against degenerative diseases. The other driving factor for lycopene market is the rising demand for natural colourants in ready-to-eat meat products, coupled with the expansion of end-use applications of lycopene in food and beverage industries, cosmetics and pharmaceuticals.  

Along with rising in the usage of lycopene in several industries, the Lycopene Market is expected to observe robust growth over the forecast period. In addition, development of technologies to create high value lycopene and increase in adoption of lycopene in emerging economies such as China, India and others, will create new opportunities for Lycopene Market. However, higher cost of the research and development, harmful effects of overdose of lycopene, and stringent government regulations and approval process are the key restraints for Lycopene Market.  

The Lycopene Market is segmented on the basis of product type as a Pharmaceutical Grade and food grade. The lycopene market is divided on the basis of type mainly into synthetic lycopene and organic lycopene. The synthetic lycopene is made by using chemical solvents and synthetic raw materials, whereas organic lycopene is made by using natural solvents and natural raw materials. The major key players present in the Lycopene Market are: DSM, BASF, Kagome, LycoRed, Kagome, Tomatia, Wellgreen Technology, Xi'an Lyphar Biotech Corp., and Chr. Hansen. The companies are projected to lengthen their business by improving their product portfolio in Lycopene Market. The companies are projected to frame certain strategies in future to gain a competitive advantage in Lycopene Market till 2027.  

On the basis of application/end-user Lycopene Market is used as food, and pharmaceutical. The lycopene market is segmented on the basis of application type in which lycopene is used in applications such as cosmetics in creams and lotions, pharmaceuticals in tablets and capsules, food colouring agent in food products such as ready-to-eat meat products, beverages, nutritional bars, dietary supplements and dairy products. Therefore, the Lycopene Market is projected to significantly increase the revenue contribution over the forecast period.  

On the basis of geographical analysis Lycopene Market is divided into several regions as India, China, Japan, Europe, North America, and South-East Asia. Geographically, the global lycopene industry can be divided by major regions which include North America, Latin America, Europe, Asia Pacific, Middle East and Africa. Globally, among all regions, Europe has developed as the most dominant region in Lycopene Market followed by North America. Increasing usage of lycopene in meat industry coupled with rising demand for natural colourants has strengthened the growth of Lycopene Market and hence is projected to significantly expand the revenue coupling of the market over the forecasted period. 

Lycopene Market: Product Type

• Natural Lycopene
• Synthetic Lycopene

Lycopene Market: Application

• Food
• Pharmaceutical

Lycopene Market: Competitive Analysis

Report includes accurate analysis of key players with Market Value, Company profile, SWOT analysis. The Study constitutes of following key players in Lycopene Market :

• DSM
• BASF
• Kagome
• LycoRed
• Kagome
• Tomatia
• Wellgreen Technology
• Xi'an Lyphar Biotech Corp.
• Chr. Hansen

Geographical analysis of Lycopene Market :

• North America
  • U.S.A.
  • Canada
• Europe
  • France
  • Germany
  • Spain
  • UK
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South East Asia
• Latin America
  • Brazil
• Middle East and Africa

Global Lycopene Market Report delivers a comprehensive analysis of the following parameters:

• Market Forecast for 2024-2030
• Market growth drivers
• Challenges and Opportunities
• Emerging and Current market trends
• Market player Capacity, Production, Revenue (Value)
• Supply (Production), Consumption, Export, Import analysis
• End user/application Analysis

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