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The presence of lycopene in the blood and fatty tissues reduces the risk of heart disease, cancer and age-related macular degeneration. It protects against colon, stomach, skin and lung cancer. Moreover, it also reduces the probability of arteriosclerosis that protect the skin from harmful UV exposure.
Moreover, natural colorants are attracting a large number of consumers from the ready-to-eat food products industry, along with emerging applications in the beverage, cosmetics and pharmaceutical industries. The large and ever-increasing global demand for ready-to-eat food products, emerging applications of lycopene in non-food sectors and further developing applications are factors driving the global lycopene market.
Global Lycopene Market Segmentation
The global lycopene market can be segmented on the basis of lycopene type as:
- Synthetic Lycopene
- Organic Lycopene
The pricing analysis of the global lycopene market will be done on the basis of lycopene type due to significant price variation among segments.
The global lycopene market can be segmented on the basis of application as:
- Cosmetic lotions & creams
- Food coloring agent
- Ready-to-eat meat products
- Nutritional Bars
- Dietary Supplements
- Dairy Products
The global lycopene market can be segmented on the basis of geographical regions as:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Middle East and Africa (MEA)
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Western Europe is estimated to be the leading producer in the lycopene market due to the high production volume of tomatoes, sufficient availability of technology for production, well-established & large healthcare industry and the presence of various developed economies with high awareness regarding health issues among people. Mexico is the largest exporter of tomatoes in the world as the country is not capable of processing or consuming the entire volume of tomatoes produced in the country. The U.S. is one of the top five tomato producers and needs to import a large volume of tomatoes to serve the domestic demand. Moreover, the country exhibits similar trends as the countries of Western Europe. China and India are among the leading global producers of tomatoes and both countries consume almost the entire volume produced. The healthcare and pharmaceutical industry of the Asia Pacific region is continuously growing at a significantly high pace.
Hence, the market in Asia Pacific is rapidly emerging, Latin America has high & untapped potential and the market in North America & Western Europe is large & steady, whereas there is low volume demand for lycopene from the countries of the MEA region.
Global Lycopene Market Key Players
Some of the key players of lycopene market are Koninklijke DSM N.V., Hoffmann-La Roche Ltd., BASF S.E., General Nutrition Center Company, LycoRed Ltd., Jamieson Laboratories Ltd., The Nature's Bounty Co., Kagome Co., Ltd., Bayer AG, Shaanxi Huike Botanical Development Co. Ltd.
Brief Approach to Research
Our analysis will follow a modeling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the applications, types, forms, and end uses of the product segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data are collected at a regional level, consolidated and synthesized at a global level to estimate the overall market sizes.
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