Lycopene Market Forecasts to 2030 – Global Analysis By Product (Synthetic Lycopene and Organic Lycopene), Formulation (Emulsion, Oil Suspension, Powder and Beadlets), Application (Cosmetics, Pharmaceutical, Food Coloring Agent and Other Applications) and

Lycopene Market Forecasts to 2030 – Global Analysis By Product (Synthetic Lycopene and Organic Lycopene), Formulation (Emulsion, Oil Suspension, Powder and Beadlets), Application (Cosmetics, Pharmaceutical, Food Coloring Agent and Other Applications) and By Geography


According to Stratistics MRC, the Global Lycopene Market is accounted for $142.6 million in 2024 and is expected to reach $218.9 million by 2030 growing at a CAGR of 7.4% during the forecast period. Lycopene is a naturally occurring pigment responsible for the red color in fruits and vegetables, particularly tomatoes, watermelon, and pink grapefruit. It belongs to the carotenoid family, which are potent antioxidants. Lycopene is notable for its health benefits, primarily for its potential role in reducing the risk of certain chronic diseases, including cancer and cardiovascular diseases. As an antioxidant, it helps neutralize harmful free radicals in the body, thus protecting cells from damage.

According to World Health Organization (WHO), cancer is a leading cause of death globally, accounting for nearly 10 million deaths in 2020. According to American Academy of Dermatology (AAD) Association, 197,700 new cases of melanoma are expected to be detected in the U.S. in 2022, with 97,920 being noninvasive (in situ) and 99,780 being invasive.

Market Dynamics:

Driver:

Rising demand for lycopene based dietary supplements

Lycopene, a potent antioxidant found in tomatoes, watermelons, and other red fruits and vegetables, has garnered attention for its potential health benefits, including its role in reducing the risk of chronic diseases like cancer and cardiovascular conditions. Rising consumer awareness about the importance of antioxidants in maintaining overall health has fueled the demand for lycopene supplements. Additionally, lifestyle changes, increasing health consciousness, and a growing aging population seeking preventive healthcare solutions have contributed to the uptick in demand.

Restraint:

Fluctuations in the prices of raw materials

Fluctuations in raw material prices pose significant challenges to the Lycopene Market. Unpredictable price shifts in agricultural commodities, such as tomatoes, impact the cost of lycopene extraction and processing. When raw material prices soar, manufacturers face higher production costs, subsequently raising the prices of lycopene-based products. This price volatility undermines market competitiveness and consumer affordability, limiting the growth potential of the lycopene industry.

Opportunity:

Advancements in extraction technologies

Advancements in extraction technologies are revolutionizing the lycopene market by enabling more efficient and cost-effective extraction processes. Traditional methods often involved heat, solvents, and lengthy procedures, leading to degradation of lycopene and increased production costs. Modern extraction techniques, such as supercritical fluid extraction (SFE) and ultrasound-assisted extraction (UAE), offer higher yields, greater purity, and reduced processing times. SFE employs supercritical carbon dioxide to extract lycopene without the use of harmful solvents, preserving its integrity and nutritional value.

Threat:

Seasonal variations

Seasonal changes such as temperature fluctuations and irregular rainfall patterns, can disrupt tomato cultivation, leading to inconsistent yields and quality. This inconsistency in the tomato supply chain directly affects lycopene production, causing fluctuations in market availability and pricing. Additionally, seasonal variations may also affect the nutritional content of tomatoes, influencing the concentration of lycopene within them. Consequently, industries reliant on lycopene, such as pharmaceuticals, nutraceuticals, and food processing, face challenges in maintaining stable production and meeting consumer demand.

Covid-19 Impact:

As the virus spread globally, lockdowns and restrictions disrupted supply chains, causing shortages in raw materials and hindering transportation and distribution networks. This disruption led to fluctuations in lycopene production and availability, affecting both suppliers and consumers. Shifts in consumer behavior during the pandemic, such as increased health consciousness and focus on immunity-boosting products, influenced the demand for lycopene-rich foods and supplements. However, challenges in production and distribution, coupled with economic uncertainties, also posed challenges for market growth.

The Synthetic Lycopene segment is expected to be the largest during the forecast period

Synthetic Lycopene segment is expected to be the largest during the forecast period. Synthetic lycopene, produced through advanced biotechnological processes, provides a more reliable and consistent supply compared to natural sources like tomatoes or watermelons, which can be affected by seasonal variations and environmental factors. Moreover, synthetic lycopene ensures higher purity levels, free from contaminants often present in natural extracts. The scalability of synthetic production facilitates cost-effectiveness and promotes market accessibility, meeting the growing demand for lycopene-based products worldwide.

The Food Coloring Agent segment is expected to have the highest CAGR during the forecast period

Food Coloring Agent segment is expected to have the highest CAGR during the forecast period. Incorporating lycopene into food products not only adds nutritional value but also attracts consumers seeking healthier options. Food coloring agents derived from lycopene provide a safe and natural alternative to synthetic dyes, meeting the growing demand for clean-label products. Moreover, lycopene's vibrant red color enhances the visual appeal of foods, making them more attractive to consumers.

Region with largest share:

As disposable incomes rise, consumers are increasingly prioritizing health-conscious choices, including dietary supplements and functional foods rich in antioxidants like Lycopene, Asia Pacific region is poised to hold the largest market share over the extrapolated period. This growth in demand is further fueled by a burgeoning middle class with a heightened focus on preventive healthcare and wellness. Moreover, the regional expansion of urban populations and changing lifestyles have contributed to a surge in the consumption of processed foods and beverages, which often contain Lycopene as a natural additive or coloring agent.

Region with highest CAGR:

Asia Pacific region is estimated to witness lucrative growth over the projection period. Regulatory bodies are increasingly recognizing the health benefits of lycopene, a powerful antioxidant found in tomatoes and other fruits, in preventing chronic diseases such as cancer and cardiovascular diseases across the region. This recognition has led to the implementation of policies that encourage the inclusion of lycopene in various food and beverage products, as well as dietary supplements in this region. Additionally, regulations aimed at promoting sustainable agricultural practices and ensuring the safety and efficacy of lycopene-based products are boosting consumer confidence and driving regional growth.

Key players in the market

Some of the key players in Lycopene market include Allied Biotech Corporation, Aromatagroup SRL, Archer Daniels Midland Company, BASF SE, Divis Laboratories ltd, Doehler Group SE, Givaudan International SA, Koninklijke DSM N.V, Kalsec INC, Vidya Herbs Pvt. Ltd, Wellgreen Technology Co., Ltd, Guangzhou Leader Bio-Technology Co., Ltd and Shaanxi Huatai Bio-Fine Chemical Co., Ltd.

Key Developments:

In December 2022, Anglo French Drugs & Industries Limited, which is a 99-year-old pharmaceutical company, entered the fertility market with the launch of LYBER Range, which includes LYBER-M, LYBER-PCO, and LYBER+. LYBER-M is an antioxidant combination including Co-Enzyme Q10, Astaxanthin, Lycopene, L-Carnitine, and Zinc that improves testosterone levels, sperm count, concentration, and motility, and helps to reduce sperm DNA damage.

In January 2022, Lycored, a lycopene and carotenoids ingredient provider, 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.

Products Covered:
• Synthetic Lycopene
• Organic Lycopene

Formulations Covered:
• Emulsion
• Oil Suspension
• Powder
• Beadlets

Applications Covered:
• Cosmetics
• Pharmaceutical
• Food Coloring Agent
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Lycopene Market, By Product
5.1 Introduction
5.2 Synthetic Lycopene
5.3 Organic Lycopene
6 Global Lycopene Market, By Formulation
6.1 Introduction
6.2 Emulsion
6.3 Oil Suspension
6.4 Powder
6.5 Beadlets
7 Global Lycopene Market, By Application
7.1 Introduction
7.2 Cosmetics
7.2.1 Creams
7.2.2 Lotion
7.3 Pharmaceutical
7.3.1 Tablets
7.3.2 Capsules
7.4 Food Coloring Agent
7.5 Other Applications
8 Global Lycopene Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Allied Biotech Corporation
10.2 Aromatagroup SRL
10.3 Archer Daniels Midland Company
10.4 BASF SE
10.5 Divis Laboratories ltd
10.6 Doehler Group SE
10.7 Givaudan International SA
10.8 Koninklijke DSM N.V
10.9 Kalsec INC
10.10 Vidya Herbs Pvt. Ltd
10.11 Wellgreen Technology Co., Ltd
10.12 Guangzhou Leader Bio-Technology Co., Ltd
10.13 Shaanxi Huatai Bio-Fine Chemical Co., Ltd
List of Tables
Table 1 Global Lycopene Market Outlook, By Region (2022-2030) ($MN)
Table 2 Global Lycopene Market Outlook, By Product (2022-2030) ($MN)
Table 3 Global Lycopene Market Outlook, By Synthetic Lycopene (2022-2030) ($MN)
Table 4 Global Lycopene Market Outlook, By Organic Lycopene (2022-2030) ($MN)
Table 5 Global Lycopene Market Outlook, By Formulation (2022-2030) ($MN)
Table 6 Global Lycopene Market Outlook, By Emulsion (2022-2030) ($MN)
Table 7 Global Lycopene Market Outlook, By Oil Suspension (2022-2030) ($MN)
Table 8 Global Lycopene Market Outlook, By Powder (2022-2030) ($MN)
Table 9 Global Lycopene Market Outlook, By Beadlets (2022-2030) ($MN)
Table 10 Global Lycopene Market Outlook, By Application (2022-2030) ($MN)
Table 11 Global Lycopene Market Outlook, By Cosmetics (2022-2030) ($MN)
Table 12 Global Lycopene Market Outlook, By Creams (2022-2030) ($MN)
Table 13 Global Lycopene Market Outlook, By Lotion (2022-2030) ($MN)
Table 14 Global Lycopene Market Outlook, By Pharmaceutical (2022-2030) ($MN)
Table 15 Global Lycopene Market Outlook, By Tablets (2022-2030) ($MN)
Table 16 Global Lycopene Market Outlook, By Capsules (2022-2030) ($MN)
Table 17 Global Lycopene Market Outlook, By Food Coloring Agent (2022-2030) ($MN)
Table 18 Global Lycopene Market Outlook, By Other Applications (2022-2030) ($MN)
Table 19 North America Lycopene Market Outlook, By Country (2022-2030) ($MN)
Table 20 North America Lycopene Market Outlook, By Product (2022-2030) ($MN)
Table 21 North America Lycopene Market Outlook, By Synthetic Lycopene (2022-2030) ($MN)
Table 22 North America Lycopene Market Outlook, By Organic Lycopene (2022-2030) ($MN)
Table 23 North America Lycopene Market Outlook, By Formulation (2022-2030) ($MN)
Table 24 North America Lycopene Market Outlook, By Emulsion (2022-2030) ($MN)
Table 25 North America Lycopene Market Outlook, By Oil Suspension (2022-2030) ($MN)
Table 26 North America Lycopene Market Outlook, By Powder (2022-2030) ($MN)
Table 27 North America Lycopene Market Outlook, By Beadlets (2022-2030) ($MN)
Table 28 North America Lycopene Market Outlook, By Application (2022-2030) ($MN)
Table 29 North America Lycopene Market Outlook, By Cosmetics (2022-2030) ($MN)
Table 30 North America Lycopene Market Outlook, By Creams (2022-2030) ($MN)
Table 31 North America Lycopene Market Outlook, By Lotion (2022-2030) ($MN)
Table 32 North America Lycopene Market Outlook, By Pharmaceutical (2022-2030) ($MN)
Table 33 North America Lycopene Market Outlook, By Tablets (2022-2030) ($MN)
Table 34 North America Lycopene Market Outlook, By Capsules (2022-2030) ($MN)
Table 35 North America Lycopene Market Outlook, By Food Coloring Agent (2022-2030) ($MN)
Table 36 North America Lycopene Market Outlook, By Other Applications (2022-2030) ($MN)
Table 37 Europe Lycopene Market Outlook, By Country (2022-2030) ($MN)
Table 38 Europe Lycopene Market Outlook, By Product (2022-2030) ($MN)
Table 39 Europe Lycopene Market Outlook, By Synthetic Lycopene (2022-2030) ($MN)
Table 40 Europe Lycopene Market Outlook, By Organic Lycopene (2022-2030) ($MN)
Table 41 Europe Lycopene Market Outlook, By Formulation (2022-2030) ($MN)
Table 42 Europe Lycopene Market Outlook, By Emulsion (2022-2030) ($MN)
Table 43 Europe Lycopene Market Outlook, By Oil Suspension (2022-2030) ($MN)
Table 44 Europe Lycopene Market Outlook, By Powder (2022-2030) ($MN)
Table 45 Europe Lycopene Market Outlook, By Beadlets (2022-2030) ($MN)
Table 46 Europe Lycopene Market Outlook, By Application (2022-2030) ($MN)
Table 47 Europe Lycopene Market Outlook, By Cosmetics (2022-2030) ($MN)
Table 48 Europe Lycopene Market Outlook, By Creams (2022-2030) ($MN)
Table 49 Europe Lycopene Market Outlook, By Lotion (2022-2030) ($MN)
Table 50 Europe Lycopene Market Outlook, By Pharmaceutical (2022-2030) ($MN)
Table 51 Europe Lycopene Market Outlook, By Tablets (2022-2030) ($MN)
Table 52 Europe Lycopene Market Outlook, By Capsules (2022-2030) ($MN)
Table 53 Europe Lycopene Market Outlook, By Food Coloring Agent (2022-2030) ($MN)
Table 54 Europe Lycopene Market Outlook, By Other Applications (2022-2030) ($MN)
Table 55 Asia Pacific Lycopene Market Outlook, By Country (2022-2030) ($MN)
Table 56 Asia Pacific Lycopene Market Outlook, By Product (2022-2030) ($MN)
Table 57 Asia Pacific Lycopene Market Outlook, By Synthetic Lycopene (2022-2030) ($MN)
Table 58 Asia Pacific Lycopene Market Outlook, By Organic Lycopene (2022-2030) ($MN)
Table 59 Asia Pacific Lycopene Market Outlook, By Formulation (2022-2030) ($MN)
Table 60 Asia Pacific Lycopene Market Outlook, By Emulsion (2022-2030) ($MN)
Table 61 Asia Pacific Lycopene Market Outlook, By Oil Suspension (2022-2030) ($MN)
Table 62 Asia Pacific Lycopene Market Outlook, By Powder (2022-2030) ($MN)
Table 63 Asia Pacific Lycopene Market Outlook, By Beadlets (2022-2030) ($MN)
Table 64 Asia Pacific Lycopene Market Outlook, By Application (2022-2030) ($MN)
Table 65 Asia Pacific Lycopene Market Outlook, By Cosmetics (2022-2030) ($MN)
Table 66 Asia Pacific Lycopene Market Outlook, By Creams (2022-2030) ($MN)
Table 67 Asia Pacific Lycopene Market Outlook, By Lotion (2022-2030) ($MN)
Table 68 Asia Pacific Lycopene Market Outlook, By Pharmaceutical (2022-2030) ($MN)
Table 69 Asia Pacific Lycopene Market Outlook, By Tablets (2022-2030) ($MN)
Table 70 Asia Pacific Lycopene Market Outlook, By Capsules (2022-2030) ($MN)
Table 71 Asia Pacific Lycopene Market Outlook, By Food Coloring Agent (2022-2030) ($MN)
Table 72 Asia Pacific Lycopene Market Outlook, By Other Applications (2022-2030) ($MN)
Table 73 South America Lycopene Market Outlook, By Country (2022-2030) ($MN)
Table 74 South America Lycopene Market Outlook, By Product (2022-2030) ($MN)
Table 75 South America Lycopene Market Outlook, By Synthetic Lycopene (2022-2030) ($MN)
Table 76 South America Lycopene Market Outlook, By Organic Lycopene (2022-2030) ($MN)
Table 77 South America Lycopene Market Outlook, By Formulation (2022-2030) ($MN)
Table 78 South America Lycopene Market Outlook, By Emulsion (2022-2030) ($MN)
Table 79 South America Lycopene Market Outlook, By Oil Suspension (2022-2030) ($MN)
Table 80 South America Lycopene Market Outlook, By Powder (2022-2030) ($MN)
Table 81 South America Lycopene Market Outlook, By Beadlets (2022-2030) ($MN)
Table 82 South America Lycopene Market Outlook, By Application (2022-2030) ($MN)
Table 83 South America Lycopene Market Outlook, By Cosmetics (2022-2030) ($MN)
Table 84 South America Lycopene Market Outlook, By Creams (2022-2030) ($MN)
Table 85 South America Lycopene Market Outlook, By Lotion (2022-2030) ($MN)
Table 86 South America Lycopene Market Outlook, By Pharmaceutical (2022-2030) ($MN)
Table 87 South America Lycopene Market Outlook, By Tablets (2022-2030) ($MN)
Table 88 South America Lycopene Market Outlook, By Capsules (2022-2030) ($MN)
Table 89 South America Lycopene Market Outlook, By Food Coloring Agent (2022-2030) ($MN)
Table 90 South America Lycopene Market Outlook, By Other Applications (2022-2030) ($MN)
Table 91 Middle East & Africa Lycopene Market Outlook, By Country (2022-2030) ($MN)
Table 92 Middle East & Africa Lycopene Market Outlook, By Product (2022-2030) ($MN)
Table 93 Middle East & Africa Lycopene Market Outlook, By Synthetic Lycopene (2022-2030) ($MN)
Table 94 Middle East & Africa Lycopene Market Outlook, By Organic Lycopene (2022-2030) ($MN)
Table 95 Middle East & Africa Lycopene Market Outlook, By Formulation (2022-2030) ($MN)
Table 96 Middle East & Africa Lycopene Market Outlook, By Emulsion (2022-2030) ($MN)
Table 97 Middle East & Africa Lycopene Market Outlook, By Oil Suspension (2022-2030) ($MN)
Table 98 Middle East & Africa Lycopene Market Outlook, By Powder (2022-2030) ($MN)
Table 99 Middle East & Africa Lycopene Market Outlook, By Beadlets (2022-2030) ($MN)
Table 100 Middle East & Africa Lycopene Market Outlook, By Application (2022-2030) ($MN)
Table 101 Middle East & Africa Lycopene Market Outlook, By Cosmetics (2022-2030) ($MN)
Table 102 Middle East & Africa Lycopene Market Outlook, By Creams (2022-2030) ($MN)
Table 103 Middle East & Africa Lycopene Market Outlook, By Lotion (2022-2030) ($MN)
Table 104 Middle East & Africa Lycopene Market Outlook, By Pharmaceutical (2022-2030) ($MN)
Table 105 Middle East & Africa Lycopene Market Outlook, By Tablets (2022-2030) ($MN)
Table 106 Middle East & Africa Lycopene Market Outlook, By Capsules (2022-2030) ($MN)
Table 107 Middle East & Africa Lycopene Market Outlook, By Food Coloring Agent (2022-2030) ($MN)
Table 108 Middle East & Africa Lycopene Market Outlook, By Other Applications (2022-2030) ($MN)

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