Lycopene is a natural chemical pigment that provides red color to fruits and vegetables. It is found in fruits & vegetables like guavas, tomatoes, apricots, watermelon, and other reddish colored natural products. Dietary supplement manufacturers use lycopene as it is easy for the body to absorb the nutrients. It is used for controlling high cholesterol, high blood pressure, and some cancers as it works as an antioxidant, which helps to protect the cells from further damage. A wide industrial application of lycopene is being made rather than only as a coloring agent.
Allied Biotech Corporation, Synthite Industries Ltd., Bioveda Naturals, Farbest Brands, Royal DSM N.V., Hoffmann-La Roche Ltd, General Nutrition Center, Hunan Sunshine Bio-Tech Co. Ltd., Wellgreen Technology Co Ltd., Divi’s Laboratories, Vidya Herbs, and Plamed Green Science Group.
COVID-19 Scenario Analysis:
- The impact of the pandemic boosts the growth of the market of supplements and health-related food for better immunity and metabolism.
- The manufacturers are facing problem in procurement of raw materials as most of the country have barred international trade.
- Being a labor and Agri-product based industry, the manufacturers are facing difficulty in getting cheap labor.
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Top Impacting Factors: market Scenario Analysis, Trends, Drivers and Impact Analysis
Surge in use of lycopene as a dietary source as well as a cosmetic ingredient, demand for lycopene in beauty & personal care industry, food & beverage industry as well as pharma industry has seen a significant rise in the past few years. Lycopene is used as an antioxidant and has proven to be beneficial in preventing cardiovascular diseases, different types of cancer, osteoporosis & bone disorders, infertility in man and many other diseases, which drive the adoption of lycopene in pharma industry. Lycopene is used as a raw material in creams, lotions, gels, shampoos & conditioners, an anti-aging agent in skincare products, and sun protection products like after sun & anti-tanning agent, in the beauty & personal care industry. However, excessive use of lycopene in some allergic people causes vomiting, gas in the stomach, nausea, and other minor reactions. Market leaders are continuously investing in R&D so that other benefits of lycopene can be tapped.
The global Lycopene market trends are as follows:
New product launches to flourish the market
There has been development of innovative uses and low-cost extraction process of lycopene by the manufacturers of food & beverages, pharma, and cosmetic companies. The food & beverage industry has developed synthetic lycopene using chemicals and synthetic raw material, which can be used as a coloring agent. Synthetic lycopene is used by meat processing units and other food manufacturers for coloring food.
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Beadlets are the most preferred form of lycopene
The most common form of lycopene intake is in the form of beadlets and the market is expected to grow during the forecast period. All the industries using lycopene prefer the beadlet form because of the high concentrated lycopene present. Other forms of lycopene are oil, powder, and emulsion but the beadlet form is most preferred by all the suppliers and buyers.
Key Benefits of the Report:
- This study presents the analytical depiction of the global lycopene industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global lycopene market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global lycopene market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global lycopene market analysis based on competitive intensity and how the competition will take shape in coming years.
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