Lycopene Market is predicted to reach USD 0.23 billion at a CAGR of 5.20% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Lycopene Market”.

The lycopene market is estimated to register a CAGR of 5.20%during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the lycopene market— GNC Holdings, LLC, DSM, Lycored, Jamieson Laboratories, BASF SE, Wellgreen Technology Co., Ltd., Chr. Hansen Holding A/S.

Market Highlights

The lycopene market is accounted to register a CAGR of 5.20%during the forecast period and is estimated to reach USD 0.23 billion by 2032.

The lycopene market is driven by increasing awareness about its health benefits, including its antioxidant properties and potential role in preventing chronic diseases like cancer and cardiovascular ailments. However, market growth may be restrained by factors such as limited availability of raw materials and stringent regulatory requirements. Opportunities lie in expanding applications in nutraceuticals and cosmetics. Challenges include competition from alternative antioxidants and price volatility due to fluctuations in supply.

Segment Analysis

The lycopene market has been segmented into source, application, form and property.

On the basis of source, the market is segmented into Synthetic, Natural. The natural segment was attributed to holding the largest market share in 2022. Because consumers prefer natural components in food and healthcare goods, natural lycopene derived from sources like tomatoes and watermelons is preferred due to its perceived health advantages.

Based on application, the lycopene market has been segmented into Dietary supplements, Food & beverages, Personal care products, Pharmaceuticals. The food & beverages segment was expected to hold the largest market share in 2022. Because of its antioxidant qualities and possible health advantages, lycopene is widely utilised in food and beverage items, including sauces, juices, and supplements, which helps explain why it dominates this category..

Based on form, the lycopene market has been segmented into Beadlets, Oil suspension, Powder, Emulsion. The oil suspension segment was expected to hold the largest market share in 2022. Because of its improved stability, bioavailability, and ease of inclusion into different food and nutritional supplement items, oil suspension is a highly desired form of lycopene. This makes it the preferred option among producers and contributes to its domination in this area.  

Based on property, the lycopene market has been segmented into Health ingredient, Coloring agent. The health ingredient segment was expected to hold the largest market share in 2022. Lycopene is widely recognized for its health-promoting properties, including antioxidant and anti-inflammatory effects. Its association with various health benefits, such as cardiovascular health and skin protection, positions it as a sought-after health ingredient, contributing to its dominance in this category.

Access full report @ https://www.marketresearchfuture.com/reports/lycopene-market-20296

Regional Analysis

The lycopene market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe lycopene market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The lycopene market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World lycopene market comprises of Middle East, Africa, and Latin America.

The largest market share for lycopene was maintained by the North American regional sector.This increase is attributed to well-established health and wellness industry with a high demand for natural supplements and ingredients. Additionally, consumer awareness about the health benefits of lycopene, such as its antioxidant properties and potential role in preventing chronic diseases, is relatively high in this region.

Moreover, the Europe market has been persistently growing over the forecast period. The demand for lycopene is driven by increasing consumer awareness about the health benefits of lycopene, such as its role in reducing the risk of certain cancers, cardiovascular diseases, and eye conditions. This growing health consciousness among consumers has led to a higher demand for lycopene-rich products and supplements in the European market.

Additionally, Asia Pacific is anticipated to experience the quickest growth in the lycopene market due to several factors. Firstly, rising disposable incomes and improving standards of living in countries across the Asia Pacific region have led to changes in dietary habits, with consumers increasingly seeking healthier and more natural food ingredients. Lycopene, known for its antioxidant properties and health benefits, is witnessing growing demand as consumers become more health-conscious.

Furthermore, the rest of the world's lycopene market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the growing awareness of the health benefits of lycopene-rich foods and supplements in these regions, driven by increasing health consciousness among consumers. Furthermore, expanding urbanization, rising disposable incomes, and improving healthcare infrastructure are contributing to the growing demand for lycopene products in these regions.

Key Findings of the Study

• The lycopene market is expected to reach USD 0.23 billion by 2032, at a CAGR of 5.20% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to the rising disposable incomes and improving standards of living in countries.


• Based on source, the natural segment was attributed to holding the largest market in 2022, with an approximate market share of 45–55%.


• GNC Holdings, LLC, DSM, Lycored, Jamieson Laboratories, BASF SE, Wellgreen Technology Co., Ltd., Chr. Hansen Holding A/S.