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Lycopene Market Analysis

Report ID: GMI5537
Published Date: Apr 2023
Report Format: PDF

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Lycopene Market Analysis

Global Lycopene Market Size, By Application

In terms of application, lycopene market share from the pharmaceuticals segment is expected to witness 5% CAGR through 2032. Lycopene is a non-pro-vitamin A carotenoid and antioxidant and is found to ameliorate cardiac complications, inflammatory conditions, and neural disorders, making it suitable for pharmaceutical applications. It is used in capsule, tablet, and gel forms in the pharmaceutical sector.

In the pharmaceutical sector, Lycopen Gold Capsule, which is a multivitamin capsule for the prevention of radical damage, toxins, and pollutants, is one of the most prominent lycopene products. The capsule helps the digestive system absorb nutrients more rapidly. It also helps boost immunity while ensuring the body’s overall well-being.

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The lycopene market from synthetic source segment will reach USD 185 million by 2032, led by their low production cost in comparison to their natural counterparts. The affordability makes synthetic lycopene easily available across several industries. It serves as a viable alternative to naturally occurring lycopene for use in many dietary supplements. It is added to breakfast cereals, infant formula, meal replacements, and other products. The US FDA has recognized synthetic lycopene and its crystallized extracts to be safe for use in various food products.

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Asia Pacific lycopene market is anticipated to exhibit a CAGR of 6% between 2023 and 2032, on account of the region’s expanding nutraceuticals industry. As per India’s Ministry of Food Processing Industries, the country’s nutraceutical market is set to hit a valuation of nearly USD 18 billion by 2025. Regional expansion can also be attributed to growing health awareness in the region which has bolstered the number of consumers of lycopene supplements. A growing number of people across the region are increasingly consuming lycopene supplements for the material’s potential health benefits, which includes reducing the risk of heart disease and cancer.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of lycopene reached USD 145 million and is anticipated to witness 5.5% CAGR during 2023 to 2032, driven by the surging demand for lycopene from the food industry.

The synthetic source segment is slated to record a valuation of USD 185 million by 2032, fueled by the relatively low manufacturing costs of synthetic lycopene.

Asia Pacific market is poised to expand at 6% CAGR through 2032, on account of the region

Some of the major contenders partaking in the market share include names such as DDW the colour house, Vidhya herbs, Plantnat, Plamed green science group, Dohler group, Hunan sunshine bio tech co ltd, and Divis laboratories.