Market for lycopene is expected to reach $187.3 million by 2030, growing at a 5.2% CAGR from 2021 to 2030.
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"The Global Lycopene Market 2020-2030 (USD Million)")
One of the major factor driving the market is increasing demand for natural colorants in processed food products and the rising use of carotenoids in food, cosmetic, and pharmaceutical industries. Moreover, lycopene has a number of health benefits and is also used for treating some diseases for example asthma, human papilloma virus infection and gingivitis etc. Furthermore, another prime factor impelling the market growth is lycopene’s anti-cancer properties.
The global lycopene market has been segmented by different application, type and geography. Further, type segment is of the market is sub-divided into synthetic lycopene and organic lycopene. In addition, synthetic lycopene is made up of chemical solvents as well as synthetic raw materials, while organic lycopene is made using natural solvents & natural raw materials. Likewise, application segment of lycopene market is sub-segmented as cosmetics, pharmaceuticals and food coloring agent. Application segment of the market is led by food coloring agent division with highest lycopene market share.
Geographically, global lycopene market has been divided to several key regions covering North America, Latin America, Europe, Asia Pacific and Middle East & Africa. Since past few years Europe dominated the global lycopene market owing to higher adoption of meat industry as well as growing demand for natural colorants in U.K. & Germany. However, Asia Pacific is expected to witness the fastest growth, because of rapidly growing population, food & beverage, cosmetics & pharmaceuticals industries, altering lifestyles of people, rising disposable incomes, consumer demand for healthy products and favorable government regulations in developing economies like China and India in the region.
The global lycopene market is moderately fragmented with major players including Hoffmann-La Roche Ltd, DSM, BASF, Lycored, General Nutrition Center, NBTY, Kagome, Jamieson, Bayer AG and Shaanxi Huike Botanical Development Co. Ltd. Moreover these companies are anticipated to grow their business by improving their product portfolio in lycopene market across the globe.
Lycopene Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2030 |
| Study Period | 2018-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | $187.3 million |
| Growth Rate | CAGR of 5.2 % during 2021-2030 |
| Segment Covered | Type, Application, Ready-to-eat meat products, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Hoffmann-La Roche Ltd, DSM, BASF, Lycored, General Nutrition Center, NBTY, Kagome, Jamieson, Bayer AG and Shaanxi Huike Botanical Development Co. Ltd. |
Key segments of the global lycopene market include:
- Type Segment of lycopene market
- Synthetic Lycopene
- Organic Lycopene
- Application Segment of lycopene market
- Cosmetic lotions & creams
- Pharmaceuticals
- Food coloring agent
- Ready-to-eat meat products
- Beverages
- Nutritional Bars
- Dietary Supplements
- Dairy Products
- Others
- Geographical Segment of lycopene market
- North America (U.S. & Canada)
- Latin America (Mexico & Brazil)
- Europe (Germany, France, U.K., Spain, Nordic countries, Italy, Poland, Benelux & Russia)
- Asia Pacific (China, ASEAN, Japan, India, Australia & New Zealand)
- Middle East and Africa (Southern Africa, GCC & North Africa
Frequently Asked Questions (FAQ) :
The application of the lycopene market Cosmetic lotions & creams, Pharmaceuticals, Food coloring agent and other.
The major players are Hoffmann-La Roche Ltd, DSM, BASF, Lycored, General Nutrition Center, NBTY, Kagome, Jamieson, Bayer AG and Shaanxi Huike Botanical Development Co. Ltd.
The base year for the report is 2023 in lycopene market.