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Lycopene Market Size, Growth Trends & Forecast 2032

  • Writer: Pallavi Garudkar
    Pallavi Garudkar
  • 4 hours ago
  • 2 min read
Lycopene Market
Lycopene Market

The global lycopene market size was valued at USD 93.42 million in 2024. The market is projected to grow from USD 96.30 million in 2025 to USD 122.09 million by 2032, exhibiting a growth at CAGR of 3.45% during the forecast period. Lycopene is a red, acyclic, and fat-soluble carotenoid commonly found in tomatoes and various red fruits and vegetables. It is produced through three primary methods: natural extraction, microbial fermentation, and chemical synthesis. Natural sources include watermelon, papaya, pink grapefruit, and several other red-hued produce. Lycopene is widely used in the food and beverage industry, particularly as a functional ingredient and for nutritional fortification.

Market Dynamics

Drivers

  • Growing Health Awareness: Rising consumer interest in carotenoids and antioxidants boosts the demand for lycopene in supplements and functional foods.

  • Increasing Use of Functional Ingredients: Lycopene is widely used for nutrient fortification and as a natural colorant in food & beverages.

  • Shift Toward Clean-Label Products: Demand for natural, plant-derived ingredients continues to grow, supporting the use of naturally sourced lycopene.

Restraints

  • Stability Issues: Lycopene degrades when exposed to heat, oxygen, and light, reducing its effectiveness.

  • Low Awareness in Developing Markets: Many consumers still lack knowledge about carotenoids and their benefits.

Market Dynamics

Drivers

  • Growing Health Awareness: Rising consumer interest in carotenoids and antioxidants boosts the demand for lycopene in supplements and functional foods.

  • Increasing Use of Functional Ingredients: Lycopene is widely used for nutrient fortification and as a natural colorant in food & beverages.

  • Shift Toward Clean-Label Products: Demand for natural, plant-derived ingredients continues to grow, supporting the use of naturally sourced lycopene.

Restraints

  • Stability Issues: Lycopene degrades when exposed to heat, oxygen, and light, reducing its effectiveness.

  • Low Awareness in Developing Markets: Many consumers still lack knowledge about carotenoids and their benefits.

Regional Insights

  • Europe: Largest regional market with the highest share in 2024. Driven by strong nutraceutical usage and health awareness.

  • North America: Mature supplements market and advanced food processing technologies support growth.

  • Asia Pacific: Fastest-growing region due to rising disposable incomes, aging population, and expansion of functional foods.

  • South America: Growing agriculture base and increasing demand for natural ingredients.

  • Middle East & Africa: Improving awareness and rising interest in nutrition-based products.

Competitive Landscape

Leading companies include:

  • Lycored (U.S.)

  • Allied Biotech Corporation (Taiwan)

  • Divi's Nutraceuticals (U.S.)

  • Vidya Herbs (India)

  • BASF SE (Germany)

  • Shaanxi Kingsci Biotechnology CO, LTD. (China)

  • Wellgreen Technology Co., Ltd. (China)

  • Farbest Brands (U.S.)

  • Jamieson Wellness (Canada)

Key Industry Development:

  • July 2024: Lycored introduced Resilient Red BF, a new lycopene-based colorant made from farm-grown tomatoes, at the U.S. Institute of Food Technologists Annual Event.

  • November 2023: Nutraland Inc. launched Somato, a dried whole-tomato ingredient rich in natural lycopene and melatonin for use in dietary supplements and functional foods and beverages.

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