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Lycopene Market Size
- Report ID: GMI5537
- Published Date: Apr 2023
- Report Format: PDF
Lycopene Market Size
Lycopene Market size valued at USD 145 million in 2022 and is poised to grow at 5.5% CAGR from 2023 to 2032. Driven by the surging demand for lycopene in the food sector.
Rapidly expanding food industry has proliferated the demand for lycopene which is utilized as a natural food coloring agent and a key ingredient in numerous processed foods. It finds use across a multitude of food products, including cereal and breakfast products, dairy items, non-alcoholic flavored beverages, and baked products among others. Lycopene is also extensively used as a natural food coloring agent in salad dressings, candies, fruit and vegetable juices, and other products for the health-conscious crowd as well. Lycopene is also known to help prevent the autoxidation of fats and is loaded with vitamins, minerals, and other nutrients, which make it further popular among health-conscious consumer base.
The lycopene market growth is attributed to several world governments making investments towards their food processing industries. In fact, as per India’s Press Information Bureau, export of processed food products in the country increased from USD 8.56 billion in 2020-21 to USD 10.42 billion in 2021-2022.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Lycopene Market Size in 2022: | USD 145 Million |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 5.5% |
| 2032 Value Projection: | USD 250 Million |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 350 |
| Tables, Charts & Figures: | 529 |
| Segments covered: | Source, Property, Application, Formulation, Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Lycopene Market Scope
