Lycopene Market to Reach $187.3 Million, Globally, by 2030 at 5.2% CAGR: Allied Market Research

/PRNewswire/ -- Allied Market Research published a report, titled,  "Lycopene Market by Form, (Powder and Others), Nature (Natural and Synthetic), and Application (Food and Beverage, Nutraceuticals and Pharmaceuticals, and Cosmetics and Personal Care): Global Opportunity Analysis and Industry Forecast, 2021–2030 ". According to the report, the global  lycopene industry generated $107.2 million in 2020, and is anticipated to generate $187.3 million by 2030, witnessing a CAGR of 5.2% from 2021 to 2030.

PORTLAND, Ore., Sept. 8, 2021 Prime determinants of growth

Surge in demand for lycopene in healthcare, food and beverage industries drives the growth of the global lycopene market. However, low stability of lycopene and availability of several other sources for red food coloring hinder the market growth. On the other hand, rise in consumer demand for clean label products presents new opportunities in the coming years.

Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/7049

Covid-19 Scenario

• The outbreak of the Covid-19 pandemic led to global lockdown which witnessed financial losses and significant uncertainties in business operations of the overall lycopene industry.
• Due to imposed lockdown, production facilities were closed and the supply chain was disrupted, which in turn, impacted both the demand and supply of the lycopene negatively.

The powder segment to maintain its leadership status throughout the forecast period

Based on type, the powder segment held the highest market share in 2020, accounting for nearly three-fourths of the global lycopene market, and is estimated to maintain its leadership status throughout the forecast period. This is due to rise in its usage as a component in nutraceutical industries to make natural pills and tablets and as a coloring agent that imparts red color to many types of processed and packaged foods. Moreover, this segment is projected to manifest the highest CAGR of 5.5% from 2021 to 2030, while the others segment projected to have CAGR of 4.3% from 2021 to 2030.

The synthetic segment to maintain its lead position during the forecast period

Based on form, the synthetic segment accounted for the largest share in 2020, contributing nearly two-thirds of the global lycopene market, and is projected to maintain its lead position during the forecast period. This is due to surge in demand for lycopene, rise in consumer preference and awareness regarding their health benefits associated with natural lycopene. However, the natural segment is expected to portray the largest CAGR of 5.9% from 2021 to 2030, owing to rise in demand for lycopene food color in various applications such as bakery & confectionery, dairy, seafood, and meat products.

Europe, followed by North America, to maintain its dominance by 2030

Based on region, Europe, followed by North America, held the highest market share in terms of revenue 2020, accounting for more than one-third of the global lycopene market. This is due to rise in usage of lycopene in the manufacture of confectionery and bakery goods. However, the Asia-Pacific region is expected to witness the fastest CAGR of 6.5% during the forecast period.

For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/7049

Leading Market Players:-

• Allied Biotech Corporation,
• Archer-Daniels-Midland Company,
• AromataGroup SRL,
• BASF SE,
• Divis Laboratories Ltd.,
• Doehler Group SE,
• ExcelVite,
• Givaudan International SA,
• Kalsec Inc.,
• Koninklijke DSM N.V.
• Chr Hasen A/S,
• DDW The Color House,
• International Flavors & Fragrances Inc.,
• Sensient Technologies Corporation,
• Cyanotech Corporation,
• Kemin Industries, Inc.

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

Similar Reports:

Licorice Extract Market: Global Opportunity Analysis and Industry Forecast 2021–2030

Mango Butter Market: Global Opportunity Analysis and Industry Forecast 2021–2027

Dextrin Market: Global Opportunity Analysis and Industry Forecast 2021–2030

Blackstrap Molasses Market: Global Opportunity Analysis and Industry Forecast 2021–2027

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected] 
Web: https://www.alliedmarketresearch.com 
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research

SOURCE Allied Market Research