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.
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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.
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