Global Lycopene Market is expected to grow at a CAGR of 5.3%| DSM Company, Hoffmann-La Roche Ltd, General Nutrition Cente, Wellgreen Technology

According to Publisher, the Global Lycopene Market is expected to grow at a CAGR of 5.3%. Factors such as growing demand for natural colorants in ready-to-eat meat products, increase in the industry of food and beverage, cosmetics and pharmaceuticals are fueling the market growth. However, increase in harmful effects with the usage of lycopene and stringent government regulations are hindrance for the growth of the market. In addition, development in the technology and adoption of lycopene in emerging economies acts as growth opportunities for the market.

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Lycopene is a carotenoid and phytonutrient substance which is found in the tomato species known as Solanum lycopersicum, mostly present in Central and South America regions. Lycopene is primarily present in red fruits and vegetables which includes tomatoes, watermelon, papaya, guava, sweet red peppers, mango, carrots, red cabbage, and pink grapefruits. Lycopene is found in high amounts in tomato and tomato-based products as compared with other fruits and vegetables.

Based on product, synthetic segment fuels the market share during the forecast period. The synthetic lycopene is made by using chemical solvents and synthetic raw materials, whereas organic lycopene is made by using natural solvents and natural raw materials. By geography, Europe region is anticipated to grow by increasing usage of lycopene in meat industry coupled with rising demand for natural colorants.

Top Key Vendors

BASF SE, Bayer AG, NBTY, Kagome, DSM Company, Hoffmann-La Roche Ltd, General Nutrition Cente, Wellgreen Technology, and LycoRed.

Products Covered:
- Organic Lycopene
- Synthetic Lycopene
Applications Covered:
- Food Coloring Agent
- Pharmaceutical
- Cosmetics
Regions Covered:
- North America
o US
o Canada
o Mexico
- Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
- Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
- South America
o Argentina
o Brazil
o Chile
o Rest of South America
- Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

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This release was published on openPR.