Dublin, June 11, 2020 (GLOBE NEWSWIRE) -- The "Lycopene Market by Source (Synthetic and Natural), Application (Dietary Supplements, Food, Pharmaceuticals, and Personal Care Products), Form (Beadlets, Oil Suspension, Emulsifiers, and Powder), Property, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The lycopene market is estimated to be valued at USD 126 million in 2020 and is projected to grow at a CAGR of 5.0%, recording a value of USD 161 million by 2025.
The increasing number of benefits offered by lycopene in preventive healthcare and its rising applications in various industries across the globe are driving the lycopene market. The rising application in dietary supplements and food products, resulting in the prevention of human health-related diseases is leading to an increased demand for lycopene. However, its variety of functionalities in industries such as personal care & cosmetics and pharmaceuticals, helping in treating various diseases and skin-related issues, also contributes to the overall demand for lycopene. Furthermore, the increasing usage of lycopene as a food colorant is exposing its widespread properties, thus, empowering manufacturers to bring in more and more innovation to the products to increase the market share.
The beadlet form is projected to dominate the global lycopene market during the forecast period.
The beadlet form is estimated to account for the largest market share in the global lycopene market. Among the other forms of lycopene available, the beadlet form of lycopene projects to witness the highest CAGR between 2020 and 2025. The factors determining its largest share is its content of lycopene concentration and mass availability, because of major lycopene manufacturers producing lycopene in this form. In addition, majority of the end-industry users consume lycopene in their line of products coming from the beadlet form. Hence, all these factors are driving the growth for this form, resulting in its dominance in the global market.
The market for synthetic source is estimated to dominate the global market in 2020.
The synthetic lycopene segment dominated the market, since it is lower in price and offers the same benefits as that of natural lycopene. Also, the availability of raw material for natural lycopene is restrained, since high-quality tomatoes are directly used for processing in other food industries. Thus, the demand for synthetic lycopene is higher.
The market for dietary supplement application is projected to witness the highest growth during the forecast period.
The antioxidant properties of lycopene have been used extensively by manufacturers of dietary supplements. Hence, the consumption of lycopene has been the highest by this industry. The use of lycopene by the food industry remains high due to both its properties of colorants and health benefits. Hence, the food segment is estimated to account for a major market share, followed by the dietary supplements segment in 2020.
Asia Pacific to grow at the highest CAGR in the lycopene market between 2020 and 2025.
The European region dominated the market in 2019, and the Asia Pacific region is projected to be the fastest-growing market during the forecast period. Factors driving the Asia Pacific market growth include the increasing adoption of lycopene-based products in the region, growing number of manufacturing facilities, and the rising number of research & development centers in the regions. Due to the developing economic conditions across the majority of the countries, consumers in the region prefer the consumption of natural products, and hence, mostly opt for organic ingredient-based products, which is further bolstering the market growth in Asia Pacific.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Lycopene Market
4.2 Europe: Lycopene Market, by Key Application & Country
4.3 Lycopene Market, by Formulation
4.4 Lycopene Market, by Source & Region
4.5 Lycopene Market: High-Growth Countries
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Benefits of Lycopene in Preventive Healthcare
5.2.1.2 Increasing Usage of Lycopene as a Food Colorant
5.2.2 Restraints
5.2.2.1 Stringent Regulatory Norms Hampering the Market Growth
5.2.2.2 Lack of R&D in Underdeveloped Countries
5.2.3 Opportunities
5.2.3.1 Growing Demand in the Pharmaceutical Industry
5.2.3.2 Growing Demand for Naturally Sourced Lycopene
5.2.4 Challenges
5.2.4.1 Difficulty in Meeting Requisite Quality Standards
5.3 Regulations
5.3.1 Us Fda
5.3.2 Epa
5.3.3 Eu and Nordic Guidelines
5.3.4 Food Safety and Standards Authority of India (Fssai)
6 Lycopene Market, by Source
6.1 Introduction
6.2 Natural Lycopene
6.2.1 Regulations by Governments to Avoid Using Synthetic Lycopene in Various Regions Expected to Drive the Market for Natural Lycopene
6.3 Synthetic Lycopene
6.3.1 Low Price of Synthetic Lycopene is Driving Its Market Growth
7 Lycopene Market, by Property
7.1 Introduction
7.2 Health Ingredient
7.2.1 Health Ingredient Property of Lycopene Has Helped Broaden Its Application Spectrum
7.3 Coloring Agent
7.3.1 Growth in the Convenience Food Sector Has Been Providing Opportunities for Lycopene Application as a Coloring Agent
8 Lycopene Market, by Application
8.1 Introduction
8.2 Food & Beverages
8.2.1 Changing Lifestyle of People Has Led to An Increase in Demand for Processed Food & Beverages, Which is Driving the Growth of the Lycopene Market
8.3 Personal Care Products
8.3.1 Effective Antioxidant and Anti-Aging Properties of Lycopene Are Projected to Drive Its Demand in Personal Care Products
8.4 Dietary Supplements
8.4.1 Increase in Benefits of Lycopene to Drive Its Market in the Dietary Supplements Sector
8.5 Pharmaceuticals
8.5.1 Role of Lycopene in the Prevention of Cancer to Drive Its Market Growth in Pharmaceutical Products
9 Lycopene Market, by Formulation
9.1 Introduction
9.2 Beadlets
9.2.1 High Stability of Lycopene in the Beadlets Form Driving Market Growth
9.3 Powder
9.3.1 Instability of the Powder Form of Lycopene Restraining Market Growth
9.4 Oil Suspension
9.4.1 Growing Applications of Lycopene in Oil Suspension Across the Food & Beverage Industry
9.5 Emulsion
9.5.1 Improper Form of Emulsions Leads to Cracking, Which Restrains Market Growth
10 Lycopene Market, by Region
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 Rise in Demand for Dietary Supplements Due to the Increase in the Number of Aged People in the Country is Driving the Market for Lycopene
10.2.2 Canada
10.2.2.1 Government Regulations for the Limited Usage of Food Additives Are Restraining the Market Growth for Lycopene
10.2.3 Mexico
10.2.3.1 Increase in Consumer Preference for Processed Food & Beverages to Drive the Market Growth for Lycopene
10.3 Europe
10.3.1 Germany
10.3.1.1 Potential Market for Manufacturers to Expand With Rising Production of Tomatoes
10.3.2 France
10.3.2.1 Dietary Supplements to Steadily Drive the Growth for Lycopene
10.3.3 UK
10.3.3.1 Lucrative Market Due to Less Competition in the Country and a Higher Demand for Dietary Supplements
10.3.4 Italy
10.3.4.1 High Industrial Applications in the Processed and Dietary Food and Cosmetic Industries
10.3.5 Spain
10.3.5.1 Organic Lycopene as a Food Additive & Colorant to Drive the Growth of this Market
10.3.6 Russia
10.3.6.1 Antioxidant Properties of Tomato Are Driving the Demand in Various Applications
10.3.7 Netherlands
10.3.7.1 Entry of New Players is Expected to Increase Market Demand in the Netherlands
10.3.8 Rest of Europe
10.4 Asia-Pacific
10.4.1 China
10.4.1.1 Leading Tomato Producing Country That Offers Manufacturers a Competitive Advantage Over Other Players in the Market
10.4.2 Japan
10.4.2.1 Dynamic Changes in Consumer Diets to Drive the Growth of the Lycopene Market
10.4.3 India
10.4.3.1 Increased Health Awareness and Rising Number of Skin-Related Issues to Drive the Growth of the Lycopene Market in the Country
10.4.4 Indonesia
10.4.4.1 Increase in the Aging Population to Drive the Growth of the Lycopene Market
10.4.5 Thailand
10.4.5.1 the Dietary Supplement Segment is Projected to Drive the Market Growth and Provide High Potential for Manufacturers to Expand Their Business
10.4.6 Rest of Asia-Pacific
10.5 South America
10.5.1 Brazil
10.5.1.1 High Demand for Personal Care Products is Driving the Market for Lycopene
10.5.2 Argentina
10.5.2.1 Rising Health Awareness is Driving the Market for Dietary Supplements Which in Turn is Fueling the Market for Lycopene
10.5.3 Rest of South America
10.6 Rest of the World (Row)
10.6.1 Middle East
10.6.1.1 Rising Consumer Trends Toward Dietary Supplements Present Potential Growth for Lycopene
10.6.2 Africa
10.6.2.1 Growing Consumer Demand for Diversified Food Products to Drive the Market in Africa
11 Competitive Landscape
11.1 Introduction
11.2 Competitive Leadership Mapping
11.2.1 Visionary Leaders
11.2.2 Dynamic Differentiators
11.2.3 Innovators
11.2.4 Emerging Companies
11.3 Competitive Scenario
11.3.1 New Product/Technology Launches
11.3.2 Acquisitions
11.3.3 Agreements
12 Company Profiles
12.1 DSM
12.2 Allied Biotech Corporation
12.3 Zhejiang Nhu Co. Ltd
12.4 E.I.D. Parry
12.5 Divi's Laboratories Limited
12.6 Lycored
12.7 Wellgreen Technology Co. Ltd
12.8 San-Ei Gen F.F.I. Inc
12.9 Dangshan Sinojuice Food Co Ltd
12.10 DDW the Color House
12.11 Dhler Group
12.12 Farbest - Tallman Foods Corporation
12.13 Xi'An Pincredit Biotech Co Ltd
12.14 Vidya Herbs
12.15 Shaanxi Kingsci Biotechnology Co. Ltd
12.16 Hunan Sunshine Bio-Tech Co. Ltd
12.18 Plantnat
12.19 Plamed Green Science Group
12.20 S.V. Agro
For more information about this report visit https://www.researchandmarkets.com/r/oldzll
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.