Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The Global Lycopene market is bolstering the growth due to emerging cardiovascular diseases and changing consumer eating habits
The global lycopene market has the potential to grow with USD 126 million and with historical CAGR in the forecast period from 2020-2027. The increase in the prevalence of prostate cancer is one of the main drivers of the increased demand for lycopene. Coupled with the growing demand for natural cosmetics is expected to increase lycopene sales.
Lycopene is a red carotenoid pigment that is abundant in tomatoes and other red fruits. Lycopene is an effective antioxidant, so it used in various industries such as food, beverages, dietary supplements, functional foods, animal nutrition, cosmetics, and pharmaceuticals. It is non-toxic and has an intense color, so it is used for food coloring.
Moreover, lycopene is a type of carotenoid, a fat-soluble red pigment contained in tomatoes, watermelons, and pink grapefruit. Carotenoids are naturally occurring pigments, which are abundant in green and yellow vegetables, and more than 600 kinds are known today. The antioxidant power that actively removes active oxygen is a characteristic of carotenoids.
Furthermore, under the action of durable antioxidant power, lycopene has the effects of lowering blood sugar level, preventing arteriosclerosis, improving breathing, beautiful skin, losing weight, maintaining eyesight, etc., as well as preventing the oxidation of LDL cholesterol.
Source overview in the Global Lycopene Market
Based on the source, the global Lycopene market bifurcated into Synthetic, Natural. The synthetic source segment accounted for the largest share in the global lycopene market. It is mainly owing to the usage of the artificial source that is widely adopted by manufacturing companies to produce lycopene. It is quickly produced with low cost and has elementary processing steps as well. Thus, the synthetic source is fueling the market demand for lycopene. Moreover, the natural source will dominate its share in the future market, owing to a change in consumer eating habits.
Application overview in the Global Lycopene Market
Based on the application, the global Lycopene market segmented into Dietary supplements, Food & beverages, Personal care products, Pharmaceuticals. The dietary supplement segment has the largest market share in the global lycopene market. The widely changing dynamics of consumer behavior and the adoption of healthy food without nutritional fibers and other benefits are bolstering the market demand for the global lycopene market.
Form overview in the Global Lycopene Market
Based on the form, the global Lycopene market categorized into Beadlets, Oil suspension, Powder, Emulsion. The beadlets segment accounts for the largest share in the global lycopene market. The beadlets are considered as the most widely used form of lycopene as it contains the highest amount of lycopene it. Therefore, other than different way such as powder, emulsion, and other have lucrative growth than beadlets. Thus, beadlets are propelling the market value for the global lycopene market.
Property Overview in the Global Lycopene Market
Based on the property, the global Lycopene market classified into a Health ingredient, a Coloring agent. The health ingredient property segment accounts for the largest share in the forecast period from 2020-2027 in the global lycopene market. It is mainly owing to rising cases of cancer, and cardiovascular diseases and lycopene have anti-cancer properties used to treat prostate cancer. Moreover, increasing the use of lycopene in a dietary supplement for increasing immunity is bolstering the market segment of health ingredients.
Region Overview in the Global Lycopene Market
Based on geography, the global lycopene market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific expected to hold the largest share of the global stucco market. It is mainly owing to the rising population and increasing awareness about healthy ingredients. Rising demand for sunscreen to protect from ultra-violet rays are also increasing the application of lycopene in the cosmetic industries.
Global Lycopene Market: Competitive Landscape
Companies such as Allied Biotech Corporation, Lycored, DSM, Wellgreen Technology Co Ltd, Divi's Laboratories, San-Ei Gen F.F.I., Inc, Dangshang Sannuo Limited, DDW, Döhler, Farbest Brands, Zhejiang NHU CO. Ltd, EID Parry, Shaanxi Kingsci Biotechnology Co. Ltd, Vidya Herbs, Xi'an Pincredit Biotech Co Ltd, Hunan Sunshine Bio-Tech Co.Ltd, Xi'an Natural Field Bio-Technology Co., Ltd, Plantnat, SV AgroFoods, Plamed Green Science Group and others are key players in the global Lycopene market.