Overview: 

Lycopene is a carotenoid and phytonutrient substance which is found in the tomato species known as Solanum lycopersicum, mostly present in Central and South America regions. Lycopene is primarily present in red fruits and vegetables which includes tomatoes, watermelon, papaya, guava, sweet red peppers, mango, carrots, red cabbage, and pink grapefruits. Lycopene is found in high amounts in tomato and tomato-based products as compared with other fruits and vegetables. Lycopene is an essential compound which is responsible for the red color in these foods. Lycopene is an essential antioxidant for human body which helps in protecting from degenerative diseases. Lycopene also helps in prevention of DNA damage in the cells along with helping them to function better in the body. Lycopene present in the blood and fatty tissues in the body reduces the risk of cancer, heart disease and age-related macular degeneration. Lycopene is useful in protection against stomach, colon, and lung and skin cancer. Lycopene helps in reducing the risk of arteriosclerosis and protects skin from UV damage exposure. Lycopene is mostly used in creams and lotions for anti-aging. 

Global Lycopene: Market Segmentation

The global lycopene market is segmented on the basis of type, application and region. The lycopene market is segmented on the basis of type mainly into synthetic lycopene and organic lycopene. The synthetic lycopene is made by using chemical solvents and synthetic raw materials, whereas organic lycopene is made by using natural solvents and natural raw materials.

The lycopene market is segmented on the basis of application type in which lycopene is used in applications such as cosmetics in creams and lotions, pharmaceuticals in tablets and capsules, food coloring agent in food products such as ready-to-eat meat products, beverages, nutritional bars, dietary supplements and dairy products. Hence, the global lycopene market is expected to significantly increase the revenue contribution over the forecast period.

Global Lycopene Market: Regional Outlook

Geographically, the global lycopene industry can be divided by major regions which include North America, Latin America, Europe, Asia Pacific, Middle East and Africa. Globally, among all regions, Europe has developed as the most dominant region in global lycopene market followed by North America. Increasing usage of lycopene in meat industry coupled with rising demand for natural colorants, has strengthened the growth of global lycopene market and hence is projected to significantly expand the revenue contribution of the market over the forecast period.

Global Lycopene Market: Growth Drivers

The global lycopene market driving factors are increasing demand for organic-based lycopene products which contains anti-cancer properties that protects against degenerative diseases. The other driving factor for lycopene market is the rising demand for natural colorants in ready-to-eat meat products, coupled with the expansion of end-use applications of lycopene in food and beverage industries, cosmetics and pharmaceuticals. Along with increasing usage of lycopene in various industries, the global lycopene market is expected to observe robust growth over the forecast period.

Global Lycopene Market: Key Players

Some of the key players identified across the value chain of the global Lycopene market include DSM, Hoffmann-La Roche Ltd, BASF, General Nutrition Center, Lycored, Jamieson, NBTY, Kagome, Bayer AG and Shaanxi Huike Botanical Development Co. Ltd. The companies are expected to expand their business by enhancing their product portfolio in global Lycopene market. The companies are projected to frame certain strategies in future in order to gain the competitive advantage in global Lycopene market till 2024.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Lycopene Market

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