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Kenneth Research recently added a report on the Global Lycopene Market which provides an in-depth analysis of the market scenario based on the market size and the compound annual growth rate (CAGR) of the market over the forecast period, i.e., 2022-2031. The European Chemical Industry Council, in one of its statistics, stated that Europe is the second-largest producer of chemicals globally and is further predicted to observe a significant growth in the coming years.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical/Energy industries, creating a huge demand for Global Lycopene Market products.
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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.
Global Lycopene Market is valued approximately at USD 118 million in 2019 and is anticipated to grow with a growth rate of more than 5% over the forecast period 2020-2026. Lycopene is found in abundance in red fruits and vegetables involving watermelon, apricots, tomato, papaya, pink guava, grapefruit, red cabbage, mango, asparagus, and carrots. It is an antioxidant, that protects the human body from harmful effects of compounds called free radicals. Further, Lycopene is recognized for thwarting diseases such as, cancer (digestive tract cancer, prostate cancer, bladder cancer, breast cancer, skin cancer, and cervical cancer), osteoporosis, cardiovascular diseases, hypertension, male infertility and other human diseases.
The market is mainly driven by the growing number of benefits offered by lycopene in preventive healthcare and its increasing applications in a range of industries worldwide. The key players of global Lycopene market have adopted various strategies to gain competitive advantage including product launch, mergers and acquisition, partnerships and agreements, investment, funding and others. For instance, In January 2018, E.I.D. Parry (India) entered into a partnership with Synthite Industries Ltd to strengthen its market presence in its human nutrition segment. Similarly, in June 2019, DDW (US) acquired the natural color company from DuPont's Nutrition & Biosciences division aiming to increase its worldwide reach and also to add manufacture and technical attributes in innovative natural colors. Furthermore, growing demand in the pharmaceutical industry is expected to create significant growth opportunity in the market over the forecast period. However, stringent regulatory norms impede the growth of the market over the forecast period of 2020-2026.
The regional analysis of global Lycopene market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to rising demand for natural colorants and higher adoption of lycopene in meat industry. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as presence of the lycopene manufacturing companies, rising awareness on benefits of lycopene in food, dietary supplement, rapidly increasing population and personal care & cosmetic applications would create lucrative growth prospects for the Lycopene market across Asia-Pacific region.
Major market player included in this report are:
Allied Biotech Corporation
LycoRed Ltd.
DSM (Koninklijke DSM N.V.)
Wellgreen Technology Co Ltd
Divi's Laboratories Ltd.
San-Ei Gen F.F.I., Inc
Dangshan Sannuo Limited
DDW (Douw Ditmars Williamson) The Color House corporation
Dohler
Farbest Brands
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Source:
Synthetic
Natural
By Application:
Dietary supplements
Food & beverages
Personal care products
Pharmaceuticals
By Form:
Beadlets
Oil suspension
Powder
Emulsion
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2022 to 2031
Target Audience of the Global Lycopene Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
About Kenneth Research
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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Myra Fletcher
Myra Fletcher is a research expert and freelance writer. She is very dedicated to her work and writing. She enjoys writing on current news in any industry and concludes the news with a highly professional report. She has almost 8 years of experience in the same field. She has strong professional skills in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.
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