Lycopene Market to Reflect Impressive Growth Rate During 2018 – 2028

Global lycopene Market Overview

Lycopene is found abundantly in vegetables and red fruits including watermelon, tomato, apricots, pink guava, papaya, grapefruit, asparagus, red cabbage, mango and carrots. Lycopene is an antioxidant, which protects the human body from damage caused by compounds called free radicals. Further, Lycopene is known for preventing diseases including hypothesis, cancer (prostate cancer, digestive tract cancer, bladder cancer, skin cancer, breast cancer, and cervical cancer), cardiovascular diseases, osteoporosis and other bone disorders, male infertility, hypertension and other human diseases. Global lycopene market is likely to boost in forecast period due to its significant use in the pharmaceutical and food industry. Lycopene also offers benefits in the cosmetics industry. The leading cosmetic brand L’Oréal Paris uses lycopene in most of their products. Lycopene protects against skin-damaging oxidation. Furthermore, lycopene also shows other benefits including skin elasticity, skin moisturization, skin texture, superficial skin structure and others. Lycopene can prevent or slow down reaction within eye cells that are caused by macular degeneration. However, excess consumption of lycopene shows some minor side-effects on humans including diarrhea, nausea, vomiting, gas and stomach problems. Lycopene haS tremendous opportunities in three major industry, and with the right R&D, its market is likely to boost in the future.

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Global lycopene market is likely to register higher-digit CAGR over forecast period

The global market of lycopene is likely to increase in the upcoming forecast period because of its three primary end-use industries including food, pharmaceutical and cosmetic industry. According to Fact.MR, its market is likely to grow at an average higher-digit CAGR (compound annual growth rate) in the forecast period. APEJ dominated the global market for lycopene in 2017 followed by North America. Europe and MEA region are expected to witness a sizable rise in the overall sales of lycopene. Countries including China, Japan and Germany are expected to witness a significant market share of lycopene due to manufacturing companies and research facilities for lycopene are concentrated in these countries.

Increasing demand for lycopene among various industry

Lycopene is a dietary source of carotenoid antioxidant and has attracted significant interest in recent years as a prominent phytochemical with a beneficial role in human health. Lycopene, which offers various end-use benefits and acts as a nourishing and moisturizing agent, is the most effective antioxidant available in the market. Further, it also helps to increase the softness of the skin apart from having excellent wound healing properties. Manufactures and researchers have a lot of opportunities to use lycopene in various products considering its end-use benefits. The pharmaceutical industry is boosting the market of lycopene. However, the use of lycopene in the cosmetic industry is likely to increase by higher bps in the forecast period. In cosmetic industry, lycopene can be used in creams, lotions, gels, hair care (shampoos, conditioners, and styling), suncare products (sun protection, after-sun & self-tanning), skincare (facial care, facial cleansing, body care, babycare), oral care, others. Lycopene anti-aging benefit is a major driving factor for increasing its demand in the cosmetic industry.

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Global lycopene market segmentation

The lycopene market can be segmented into its nature, end use industry, form, and by packaging type. By nature, global lycopene market can be categorized into naturaland organic. The global lycopene market can be segmented in a different end use industries such as food, pharmaceutical, cosmetic, and others. Form of the lycopene can be segmented into powder, capsule, and syrup. In packaging type segment global lycopene market is segmented into bottle, bulk, and tetra packaging. The global lycopene market can be segmented on the basis of the geographical region such as North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East & Africa (MEA), and Emerging Countries.

Global lycopene key market players

The global market for lycopene comprises several developers, who are primarily converging on developing advance version on lycopene mainly for increasing its end-use in various industries. Some key market participants are DSM, BASF, Kagome, LycoRed, Kagome, Tomatia, Wellgreen Technology, Xi’an lyphar biotech corp, Chr. Hansen, Koninklijke DSM N.V., Hoffmann-La roche Ltd., General nutrition center company, Jamieson laboratories Ltd., The nature’s bounty Co., Bayer AG, Shaanxi huike botanical development Co. Ltd., San-Ei Gen, Licofarma S.r.l., Dangshan sinojuice food, Royal DSM N.V., NBTY and Bayer AG, among other prominent players.

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