Lycopene

Global Lycopene Market to Reach US$221.3 Million by 2030

The global market for Lycopene estimated at US$152.7 Million in the year 2023, is expected to reach US$221.3 Million by 2030, growing at a CAGR of 5.4% over the analysis period 2023-2030. Synthetic Lycopene, one of the segments analyzed in the report, is expected to record a 5.4% CAGR and reach US$146.0 Million by the end of the analysis period. Growth in the Natural Lycopene segment is estimated at 5.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$40.1 Million While China is Forecast to Grow at 8.5% CAGR

The Lycopene market in the U.S. is estimated at US$40.1 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$50.8 Million by the year 2030 trailing a CAGR of 8.5% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.2% and 4.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR.

Global Lycopene Market - Key Trends and Drivers Summarized

What Makes Lycopene a Key Ingredient in Health and Wellness Products?

Lycopene, a powerful antioxidant found in tomatoes and other red fruits, has garnered significant attention in the health and wellness industry for its potential to prevent chronic diseases and promote overall health. As a carotenoid, lycopene is known for its ability to neutralize free radicals, which are linked to conditions such as heart disease, cancer, and age-related vision loss. Lycopene supplements and fortified foods are widely used to support cardiovascular health, boost immune function, and reduce oxidative stress. The growing consumer interest in functional foods and nutraceuticals is driving the demand for lycopene as a natural ingredient with scientifically backed health benefits.

What Innovations Are Shaping the Lycopene Market?

Innovations in extraction and formulation techniques are playing a significant role in the lycopene market. Manufacturers are developing more efficient extraction methods, such as supercritical CO2 extraction, to produce high-purity lycopene without the use of harmful solvents. Additionally, new delivery systems, including nano-encapsulation and liposomal formulations, are improving the bioavailability of lycopene, making it more effective in dietary supplements and functional foods. The rise of organic and non-GMO lycopene is also gaining traction as consumers increasingly seek natural and clean-label products. These innovations are expanding the range of applications for lycopene, from dietary supplements to skincare and cosmetic products.

How Do Market Segments Define the Growth of Lycopene?

Sources of lycopene include synthetic, natural (from tomatoes), and organic, with natural lycopene leading the market due to its clean-label appeal and consumer preference for plant-based ingredients. Forms of lycopene include powder, liquid, and beadlets, with powder being the most commonly used in dietary supplements and food fortification. Applications range from functional foods and beverages to dietary supplements and cosmetics, with the dietary supplements segment driving significant demand due to the growing focus on preventive health. End-use industries include food and beverages, nutraceuticals, pharmaceuticals, and cosmetics, with the nutraceutical sector leading the market.

What Factors Are Driving the Growth in the Lycopene Market?

The growth in the lycopene market is driven by several factors, including the increasing demand for functional foods, rising consumer awareness of the health benefits of antioxidants, and the growing trend toward preventive healthcare. As consumers seek natural ingredients that support heart health, immune function, and overall well-being, lycopene has become a popular choice in the nutraceutical and dietary supplement industries. Additionally, the rise of plant-based diets and the demand for clean-label products are supporting the growth of natural lycopene derived from tomatoes. The expanding application of lycopene in cosmetics, where it is valued for its anti-aging and skin-protective properties, is further contributing to market growth.

Select Competitors (Total 43 Featured) -

• Basf SE
• Bayer AG
• General Nutrition Centers, Inc.
• Hoffmann-La Roche Ltd
• Jameson (Irish Distillers Limited)
• Kagome Co., Ltd.
• Koninklijke DSM N.V.
• LycoRed Ltd.
• NBTY
• Shaanxi Huike Botanical Development Co., Ltd.
• The Nature's Bounty Co.
• Wellgreen Technology

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