According to the new market research report by IndustryARC titled “Lycopene Market: By Type (Synthetic Lycopene and Organic Lycopene), By Application (Pharmaceutical, Cosmetic and Food Colouring Agent) & By Region-Forecast (2018-2025)”, the market is driven by the growth of cosmetics, food & beverage, and pharmaceutical industries. The market will reach $142.68million by 2025 with a CAGR of 3.48%.

Europe to have a major share in the Lycopene Market 

Europe dominates the Lycopene Market due to the growing consumer demand for coloring the food products. The Lycopene Market in Europe is expected to reach $5.5 million by 2025 with a CAGR of 3.6% the coming years during the forecast period. North America is the second largest region in the market. This can be attributed to the increasing use of lycopene in the meat industry along with the increasing demand for natural colorants. It expands the revenue contribution for the market in the region.

In the Asia Pacific region, China has the largest share in the market. APAC food coloring application will reach $21.72 million in 2023, growing at a CAGR of 4.4% during the forecast period.

Selected Regulatory analysis done in the full Report:

Cosmetics is a major application in the Lycopene Market. It improves the general appearance of the face and other parts of the body. Being a powerful antioxidant, lycopene protects the skin from environmental agents responsible for clogged pores. It can even reduce Erythema or skin redness to a large extent. It also soothes rough skin by initiating the growth of new skin cells. Use of high lycopene foods in the diet, in addition to sunscreens, reduces skin damage caused by ultraviolet A and B exposure. It even reduces fatty tissues.

Excerpts on Market Growth Factors:

Food, beverage, and pharmaceutical industries are the top drivers for the Lycopene Market. Food coloring agent is the main application of lycopene. It helps in the production of food and Beverages without artificial colors. It also provides a better appearance in a safer environment. The absence of toxic chemicals in lycopene boosts its adoption in cosmetic formulations, this factor Will drive the Lycopene market. Ban on trade of synthetic colorants due to health hazards elevates the growth of lycopene products. Growing consumer awareness about health benefits of organic food products boosts the growth of the Lycopene Market.Health benefits associated with lycopene leads to an increased consumption of lycopene, prevents heart disease and macular degeneration. 
The changing lifestyle of people, increase in percapita per income and growing awareness about skin infections drive the growth of the Lycopene Market.

Key players of the Lycopene Market:

BASF SE is the top key player in the Lycopene Market. The company receives a huge demand for its food additive product called Lyco Vit. It includes many carotenoid products. Royal DSM NV has acquired Fortitech for strengthening its human nutrition business. General Nutrition Center on the other hand, has GNC PUREDGE line of whole food based supplements that includes lycopene vitamin supplements. Shaanix Huike Botanical Development co. ltd produces products that treat prostate cancer, bladder cancer, skin cancer, and digestive tract cancer.

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The global Lycopene Market size is predicted to outshine with a value of $xxx Million by 2025 growing at an estimated CAGR of more than xx% over the forecast period (2018 to 2025). One of the major factor driving the market is increasing demand for natural colorants in processed food products and the rising use of carotenoids in food, cosmetic, and pharmaceutical industries. Moreover, lycopene has a number of health benefits and is also used for treating some diseases for example asthma, human papilloma virus infection and gingivitis etc. Furthermore, another prime factor impelling the market growth is lycopene’s anti-cancer properties.

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The global lycopene market has been segmented by different application, type and geography. Further, type segment is of the market is sub-divided into synthetic lycopene and organic lycopene. In addition, synthetic lycopene is made up of chemical solvents as well as synthetic raw materials, while organic lycopene is made using natural solvents & natural raw materials. Likewise, application segment of lycopene market is sub-segmented as cosmetics, pharmaceuticals and food coloring agent. Application segment of the market is led by food coloring agent division with highest lycopene market share.

Geographically, global lycopene market has been divided to several key regions covering North America, Latin America, Europe, Asia Pacific and Middle East & Africa. Since past few years Europe dominated the global lycopene market owing to higher adoption of meat industry as well as growing demand for natural colorants in U.K. & Germany. However, Asia Pacific is expected to witness the fastest growth, because of rapidly growing population, food & beverage, cosmetics & pharmaceuticals industries, altering lifestyles of people, rising disposable incomes, consumer demand for healthy products and favorable government regulations in developing economies like China and India in the region.

The global lycopene market is moderately fragmented with major players including Hoffmann-La Roche Ltd, DSM, BASF, Lycored, General Nutrition Center, NBTY, Kagome, Jamieson, Bayer AG and Shaanxi Huike Botanical Development Co. Ltd. Moreover these companies are anticipated to grow their business by improving their product portfolio in lycopene market across the globe.

What to expect from the upcoming report on ‘Global Lycopene Market’:

- Analyzes about future prospects as well as global lycopene market trends market over the forecast period (2018-2025)

- Information regarding technological progressions as well as innovations taking place in developing as well as developed economies and also various macro & microeconomic factors that affect the growth of the market.

- Supportive initiatives by government likely to influence the market dynamics.

- Key drivers influencing market’s growth, opportunities, restraints, sales channels and distributors.

- In-depth analysis of different market segmentations including application, type and geographical regions.

- Deep analysis about the competitive landscape of the market and the initiatives by them to improve this market such as expansions, growth strategies, agreements, new product launches and acquisitions in the market

- Value Chain and Sales Channels Analysis

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