Global Lycopene Market 2023-2030

Global Lycopene Market 2023-2030

Global Lycopene Market Size, Share & Trends Analysis Report by Form (Beadlets, Oil Suspension, Powder, and Emulsion), by Source (Natural, and Synthetic), and by Application (Dietary Supplements, Food and Beverages, Personal Care Products, and Pharmaceuticals) Furthermore by Property (Health Ingredient, and Coloring Agent) for the Forecast Period (2023-2030)

The global lycopene market is expected to witness substantial growth, with a projected CAGR of 5.9% during the forecast period. The market's growth is attributed to growing demand for advanced capabilities across the globe. Nowadays consumers are seeking for the plant has the potential to revolutionize the food industry by producing high-quality, safe, and cost-effective food ingredients. For Instance, in January 2022, Lycored, launched a processing plant in Branchburg, NJ for its carotenoids, vitamins, minerals, amino acids, and genuine food components. This new factory allows the firm to maximize quality, potency, and shelf-stability of its chemicals while expanding output capacity dramatically. It has superior milling, mixing, drying, and coating capabilities, as well as several customizable options.

Segmental Outlook

The lycopene market is segmented based on form, source, application, and property. Based on form, the market is anticipated into beadlets, oil suspension, powder, and emulsion. By source, the market is anticipated into Natural, and Synthetic. By application, the market is anticipated into dietary supplements, food and beverages, personal care products, and pharmaceuticals. Furthermore, by property, the market is segmented into health ingredient, and coloring agent. Among these segments, the natural sub-segment is anticipated to hold a significant market share. The demand for organic products is increasing, manufacturers in a variety of industries are working to create organic products that meet consumer demands. As a result, some manufacturers have developed organic products.

The Powder Sub-Segment is Anticipated to Hold a Prominent Share of the Global Lycopene Market

The growth of the powder sub-segment is attributed to the growing demand for FruHis, a fruit compound, boosts lycopene in the treatment of prostate gland enlargement across the globe. Prostate cancer is on the rise among consumers. Most individuals across the globe suffer from prostate problems. According to National Institutes of Health, although the high incidence rates of prostate cancer, the majority of cases are discovered when the cancer is contained to the prostate. In the USA, the 5-year survival rate for males with prostate cancer is approximately 98%. Accordingly market players are coming up with new products to cater the demand for lycopene. For instance, in November2022, According to Natural Ingredients The fruit compound d-Fructose- l-histidine (FruHis) can boost lycopene efficacy and reduce the growth hormone FruHis, that can boost lycopene efficacy and reduce the growth hormone 'IGF-1' to improve symptoms of prostate gland enlargement. Lycopene performed, in fact, cause a 13.2% reduction in TPSA, whereas FruHis had no effect. Administration of both compounds, on the other hand, reduced levels by 13 to 30.3%, and the same pattern was observed for all other parameters tested.

Regional Outlooks

The global lycopene market is analyzed across key regions, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East and Africa, and Latin America). Among these, the European region is projected to witness prominent growth among the market during forecast period. Meanwhile, the North America region is expected to experience substantial market growth, attributed to demand for rising regional consumer preference for healthy food options.

Global Lycopene Market Growth, by Region 2023-2030

Source: OMR Analysis

The Asia-Pacific Region is Anticipated to Hold a Significant Share in the Global Lycopene Market

Among all the regions, the Asia-Pacific regions is expected to hold a considerable share of the market. The regional market growth is attributed to the increasing demand for Research and development across the region. The development of new technologies and varied formulations has recently attracted the attention of researchers. According to National Institute of Health, Lycopene, one of the primary carotenoids, is the most potent antioxidant found in food. RONS generation as a defense mechanism against infection brought on by the ischemia-reperfusion syndrome, the metabolism of the parasite, and the metabolism of antimalarial medications were highlighted as the key mechanisms causing oxidative stress during malaria in this review. The benefits of lycopene on a number of illnesses for which oxidative stress is thought to be a contributing factor are additionally addressed along with information on its mode of action and a case for its supplementation in malaria based on scientific data.

Market Players Outlook

The major companies serving the global lycopene market include BASF SE, Informa PLC, DDW, Inc., Dhler GmbH, E.I.D. Parry Ltd and others. The market players are considerably contributing to market growth through the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in July 2022, Institute of Food Technologists (IFT) Expo in Chicago, Lycored, derived color and taste-enhancing ingredients for food and beverages, will be showcasing its range of super stable red, orange, gold, and yellow hues and real food ingredients.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global lycopene market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.