The global Lycopene Market is estimated to surpass $133 Million by 2023 growing at an estimated rate of more than 3.5% during 2018 to 2023

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The global Lycopene Market is estimated to
surpass 133 Million by 2023 growing at an
estimated rate of more than 3.5 during 2018 to
2023.
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Europe dominates the Lycopene Market due to the
growing consumer demand for coloring the food
products. The Lycopene Market in Europe is
expected to reach 5.5 million by 2025 with a
CAGR of 3.6 the coming years during the forecast
period. North America is the second largest
region in the market. This can be attributed to
the increasing use of lycopene in the meat
industry along with the increasing demand for
natural colorants. It expands the revenue
contribution for the market in the region.   In
the Asia Pacific region, China has the largest
share in the market. APAC food coloring
application will reach 21.72 million in 2023,
growing at a CAGR of 4.4 during the forecast
period.
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Selected Regulatory Analysis Done in the Full
Report
Cosmetics is a major application in the Lycopene
Market. It improves the general appearance of the
face and other parts of the body. Being a
powerful antioxidant, lycopene protects the skin
from environmental agents responsible for clogged
pores. It can even reduce Erythema or skin
redness to a large extent. It also soothes rough
skin by initiating the growth of new skin cells.
Use of high lycopene foods in the diet, in
addition to sunscreens, reduces skin damage
caused by ultraviolet A and B exposure. It even
reduces fatty tissues.
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Excerpts on Market Growth Factors

• Food, beverage, and pharmaceutical industries
  are the top drivers for the Lycopene Market.
• Food coloring agent is the main application of
  lycopene. It helps in the production of food and
  beverages without artificial colors. It also
  provides a better appearance in a safer
  environment. The absence of toxic chemicals in
  lycopene boosts its adoption in cosmetic
  formulations, this factor will drive the Lycopene
  market.
• Ban on trade of synthetic colorants due to
  health hazards elevates the growth of lycopene
  products.

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Key Players of the Lycopene Market

• Bayer AG
• Hoffmann La Roche Ltd
• LycoRed
• DSM
• Jamieson
• NBTY
• General Nutrition Center
• And 15 more

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