Product Code: FBI113799
Growth Factors of lycopene Market
The global lycopene market continues to gain substantial momentum as demand for natural, nutrient-rich ingredients accelerates across food, dietary supplements, and personal care sectors. According to the latest industry assessment, the market was valued at USD 93.42 million in 2024, supported by strong adoption of carotenoid-based ingredients across developed and emerging regions. By 2025, the market is projected to reach USD 96.30 million, indicating stable progress driven by food fortification trends and the rising popularity of functional ingredients. Long-term projections show the global lycopene market climbing to USD 122.09 million by 2032, reflecting a CAGR of 3.45% during the forecast period.
In 2024, Europe dominated the global market with a 39.6% share, driven by a mature nutraceutical sector, stringent clean-label preferences, and strong demand for natural antioxidants. Leading companies shaping the landscape include Lycored, BASF SE, Divi's Nutraceuticals, Allied Biotech Corporation, Vidya Herbs, and several China-based carotenoid manufacturers expanding their capabilities.
Market Drivers
A major factor stimulating market expansion is the growing awareness of the health benefits of carotenoids. In today's health-conscious environment, consumers increasingly prefer natural, plant-derived ingredients. Lycopene, a potent antioxidant naturally found in tomatoes, watermelon, and pink grapefruit, aligns well with this trend. It enhances immune function, supports cardiovascular health, protects against oxidative stress, and enriches the nutritional profile of food and beverages.
Food manufacturers are leveraging lycopene for both fortification and natural color enhancement, replacing synthetic additives. The ingredient's dual functionality-as a natural pigment and a bioactive compound-significantly increases its demand across processed foods, dairy products, and beverages. As a result, global brands are launching lycopene-enriched products to appeal to health-driven consumers.
Market Restraints
Despite its advantages, the market faces significant challenges. Lycopene is highly unstable and prone to degradation when exposed to heat, light, and oxygen. This instability reduces its antioxidant efficacy and limits its use in certain processing methods such as drying and pasteurization. As a result, manufacturers often incur additional costs to protect and stabilize lycopene during production and storage.
Additionally, limited consumer awareness regarding carotenoids and their recommended dosages continues to hinder adoption, particularly in developing regions. The lack of education around nutritional benefits restricts the market's growth potential.
Market Opportunities
The rapid expansion of personal care and cosmetics presents a major opportunity. Lycopene is increasingly used in skincare formulations for its anti-inflammatory, anti-aging, and skin-brightening properties. It supports collagen production, enhances elasticity, and protects against environmental pollutants. As consumer preference shifts toward natural cosmetic ingredients, lycopene-infused creams, serums, tinted moisturizers, and lipsticks are witnessing heightened demand.
Market Trends
A notable trend is the growing inclination toward fortified foods and beverages. Carotenoid fortification is expanding as brands address nutrient deficiencies through natural solutions. Lycopene strengthens shelf life, improves visual appeal, and enhances antioxidant value. Its benefits-including lowering blood pressure, improving cognition, and supporting skin health-are prompting manufacturers to innovate with lycopene-fortified snacks, drinks, and dairy items.
Segmentation Overview
By Source
Synthetic lycopene dominated in 2024 due to its cost-effectiveness, stability, and suitability for mass production.
Natural lycopene is the fastest-growing segment, driven by clean-label trends and sustainability initiatives.
By Form
Powdered lycopene held the largest share due to superior stability, easier transport, and wider formulation flexibility.
The liquid form is expected to grow fastest owing to higher absorption and ease of use in supplements and cosmetics.
By Application
The food & beverage sector led the market as lycopene is widely used for coloring, fortification, and antioxidant enrichment.
The animal feed segment is expected to grow fastest due to rising focus on animal health and quality feed additives.
Regional Outlook
Europe remained the leading market in 2024, valued at USD 36.99 million, backed by high nutraceutical adoption and strong demand for natural colorants.
North America follows, supported by advanced extraction technologies and a growing supplements market.
Asia Pacific is the fastest-growing region, driven by an aging population, rising supplement consumption, and strong tomato production.
South America and Middle East & Africa are emerging markets with increasing awareness of functional nutrition.
Conclusion
With the market expanding from USD 93.42 million (2024) to USD 122.09 million (2032), lycopene continues to strengthen its position as a valuable natural ingredient across the global food, supplements, cosmetic, and feed industries. Continuous product innovation and rising clean-label demand will further accelerate global adoption.
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Segmentation By Source
By Form
By Application
- Food & Beverages
- Dietary Supplements
- Personal Care & Cosmetics
- Animal Feed
- Pharmaceuticals
By Region
- North America (By Source, Form, Application, and Country)
- U.S. (By Application)
- Canada (By Application)
- Mexico (By Application)
- Europe (By Source, Form, Application, and Country)
- Germany (By Application)
- France (By Application)
- Italy (By Application)
- Spain (By Application)
- U.K. (By Application)
- Rest of Europe (By Application)
- Asia Pacific (By Source, Form, Application, and Country)
- China (By Application)
- India (By Application)
- Japan (By Application)
- Australia (By Application)
- Rest of Asia Pacific (By Application)
- South America (By Source, Form, Application, and Country)
- Brazil (By Application)
- Argentina (By Application)
- Rest of South America (By Application)
- Middle East & Africa (By Source, Form, Application, and Country)
- South Africa (By Application)
- UAE (By Application)
- Rest of the Middle East & Africa (By Application)
Table of Content
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Market Trends
4. Key Insights
- 4.1. Market Overview of Related/Parent Market
- 4.2. Supply Chain Landscape
- 4.3. Regulatory Analysis
- 4.4. Industry SWOT Analysis
- 4.5. Recent Industry Developments - Policies, Mergers & Acquisitions, and New Product Launches
5. Global Lycopene Market Analysis, Insights and Forecast, 2025-2032
- 5.1. Key Findings / Summary
- 5.2. Market Size Estimates and Forecast
- 5.2.1. By Source (Value)
- 5.2.1.1. Natural
- 5.2.1.2. Synthetic
- 5.2.2. By Form (Value)
- 5.2.2.1. Liquid
- 5.2.2.2. Powder
- 5.2.2.3. Beadlet
- 5.2.3. By Application (Value)
- 5.2.3.1. Food & Beverages
- 5.2.3.2. Dietary Supplements
- 5.2.3.3. Personal Care & Cosmetics
- 5.2.3.4. Animal Feed
- 5.2.3.5. Pharmaceuticals
- 5.2.4. By Region (Value)
- 5.2.4.1. North America
- 5.2.4.2. Europe
- 5.2.4.3. Asia Pacific
- 5.2.4.4. South America
- 5.2.4.5. Middle East & Africa
6. North America Lycopene Market Analysis, Insights and Forecast, 2025-2032
- 6.1. Key Findings / Summary
- 6.2. Market Size Estimates and Forecast
- 6.2.1. By Source (Value)
- 6.2.1.1. Natural
- 6.2.1.2. Synthetic
- 6.2.2. By Form (Value)
- 6.2.2.1. Liquid
- 6.2.2.2. Powder
- 6.2.2.3. Beadlet
- 6.2.3. By Application (Value)
- 6.2.3.1. Food & Beverages
- 6.2.3.2. Dietary Supplements
- 6.2.3.3. Personal Care & Cosmetics
- 6.2.3.4. Animal Feed
- 6.2.3.5. Pharmaceuticals
- 6.2.4. By Country
- 6.2.4.1. U.S.
- 6.2.4.1.1. By Application (Value)
- 6.2.4.1.1.1. Food & Beverages
- 6.2.4.1.1.2. Dietary Supplements
- 6.2.4.1.1.3. Personal Care & Cosmetics
- 6.2.4.1.1.4. Animal Feed
- 6.2.4.1.1.5. Pharmaceuticals
- 6.2.4.2. Canada
- 6.2.4.2.1. By Application (Value)
- 6.2.4.2.1.1. Food & Beverages
- 6.2.4.2.1.2. Dietary Supplements
- 6.2.4.2.1.3. Personal Care & Cosmetics
- 6.2.4.2.1.4. Animal Feed
- 6.2.4.2.1.5. Pharmaceuticals
- 6.2.4.3. Mexico
- 6.2.4.3.1. By Application (Value)
- 6.2.4.3.1.1. Food & Beverages
- 6.2.4.3.1.2. Dietary Supplements
- 6.2.4.3.1.3. Personal Care & Cosmetics
- 6.2.4.3.1.4. Animal Feed
- 6.2.4.3.1.5. Pharmaceuticals
7. Europe Lycopene Market Analysis, Insights and Forecast, 2025-2032
- 7.1. Key Findings / Summary
- 7.2. Market Size Estimates and Forecast
- 7.2.1. By Source (Value)
- 7.2.1.1. Natural
- 7.2.1.2. Synthetic
- 7.2.2. By Form (Value)
- 7.2.2.1. Liquid
- 7.2.2.2. Powder
- 7.2.2.3. Beadlet
- 7.2.3. By Application (Value)
- 7.2.3.1. Food & Beverages
- 7.2.3.2. Dietary Supplements
- 7.2.3.3. Personal Care & Cosmetics
- 7.2.3.4. Animal Feed
- 7.2.3.5. Pharmaceuticals
- 7.2.4. By Country
- 7.2.4.1. Germany
- 7.2.4.1.1. By Application (Value)
- 7.2.4.1.1.1. Food & Beverages
- 7.2.4.1.1.2. Dietary Supplements
- 7.2.4.1.1.3. Personal Care & Cosmetics
- 7.2.4.1.1.4. Animal Feed
- 7.2.4.1.1.5. Pharmaceuticals
- 7.2.4.2. France
- 7.2.4.2.1. By Application (Value)
- 7.2.4.2.1.1. Food & Beverages
- 7.2.4.2.1.2. Dietary Supplements
- 7.2.4.2.1.3. Personal Care & Cosmetics
- 7.2.4.2.1.4. Animal Feed
- 7.2.4.2.1.5. Pharmaceuticals
- 7.2.4.3. Italy
- 7.2.4.3.1. By Application (Value)
- 7.2.4.3.1.1. Food & Beverages
- 7.2.4.3.1.2. Dietary Supplements
- 7.2.4.3.1.3. Personal Care & Cosmetics
- 7.2.4.3.1.4. Animal Feed
- 7.2.4.3.1.5. Pharmaceuticals
- 7.2.4.4. Spain
- 7.2.4.4.1. By Application (Value)
- 7.2.4.4.1.1. Food & Beverages
- 7.2.4.4.1.2. Dietary Supplements
- 7.2.4.4.1.3. Personal Care & Cosmetics
- 7.2.4.4.1.4. Animal Feed
- 7.2.4.4.1.5. Pharmaceuticals
- 7.2.4.5. U.K.
- 7.2.4.5.1. By Application (Value)
- 7.2.4.5.1.1. Food & Beverages
- 7.2.4.5.1.2. Dietary Supplements
- 7.2.4.5.1.3. Personal Care & Cosmetics
- 7.2.4.5.1.4. Animal Feed
- 7.2.4.5.1.5. Pharmaceuticals
- 7.2.4.6. Rest of Europe
- 7.2.4.6.1. By Application (Value)
- 7.2.4.6.1.1. Food & Beverages
- 7.2.4.6.1.2. Dietary Supplements
- 7.2.4.6.1.3. Personal Care & Cosmetics
- 7.2.4.6.1.4. Animal Feed
- 7.2.4.6.1.5. Pharmaceuticals
8. Asia Pacific Lycopene Market Analysis, Insights and Forecast, 2025-2032
- 8.1. Key Findings / Summary
- 8.2. Market Size Estimates and Forecast
- 8.2.1. By Source (Value)
- 8.2.1.1. Natural
- 8.2.1.2. Synthetic
- 8.2.2. By Form (Value)
- 8.2.2.1. Liquid
- 8.2.2.2. Powder
- 8.2.2.3. Beadlet
- 8.2.3. By Application (Value)
- 8.2.3.1. Food & Beverages
- 8.2.3.2. Dietary Supplements
- 8.2.3.3. Personal Care & Cosmetics
- 8.2.3.4. Animal Feed
- 8.2.3.5. Pharmaceuticals
- 8.2.4. By Country
- 8.2.4.1. China
- 8.2.4.1.1. By Application (Value)
- 8.2.4.1.1.1. Food & Beverages
- 8.2.4.1.1.2. Dietary Supplements
- 8.2.4.1.1.3. Personal Care & Cosmetics
- 8.2.4.1.1.4. Animal Feed
- 8.2.4.1.1.5. Pharmaceuticals
- 8.2.4.2. India
- 8.2.4.2.1. By Application (Value)
- 8.2.4.2.1.1. Food & Beverages
- 8.2.4.2.1.2. Dietary Supplements
- 8.2.4.2.1.3. Personal Care & Cosmetics
- 8.2.4.2.1.4. Animal Feed
- 8.2.4.2.1.5. Pharmaceuticals
- 8.2.4.3. Japan
- 8.2.4.3.1. By Application (Value)
- 8.2.4.3.1.1. Food & Beverages
- 8.2.4.3.1.2. Dietary Supplements
- 8.2.4.3.1.3. Personal Care & Cosmetics
- 8.2.4.3.1.4. Animal Feed
- 8.2.4.3.1.5. Pharmaceuticals
- 8.2.4.4. Australia
- 8.2.4.4.1. By Application (Value)
- 8.2.4.4.1.1. Food & Beverages
- 8.2.4.4.1.2. Dietary Supplements
- 8.2.4.4.1.3. Personal Care & Cosmetics
- 8.2.4.4.1.4. Animal Feed
- 8.2.4.4.1.5. Pharmaceuticals
- 8.2.4.5. Rest of Asia Pacific
- 8.2.4.5.1. By Application (Value)
- 8.2.4.5.1.1. Food & Beverages
- 8.2.4.5.1.2. Dietary Supplements
- 8.2.4.5.1.3. Personal Care & Cosmetics
- 8.2.4.5.1.4. Animal Feed
- 8.2.4.5.1.5. Pharmaceuticals
9. South America Lycopene Market Analysis, Insights and Forecast, 2025-2032
- 9.1. Key Findings / Summary
- 9.2. Market Size Estimates and Forecast
- 9.2.1. By Source (Value)
- 9.2.1.1. Natural
- 9.2.1.2. Synthetic
- 9.2.2. By Form (Value)
- 9.2.2.1. Liquid
- 9.2.2.2. Powder
- 9.2.2.3. Beadlet
- 9.2.3. By Application (Value)
- 9.2.3.1. Food & Beverages
- 9.2.3.2. Dietary Supplements
- 9.2.3.3. Personal Care & Cosmetics
- 9.2.3.4. Animal Feed
- 9.2.3.5. Pharmaceuticals
- 9.2.4. By Country
- 9.2.4.1. Brazil
- 9.2.4.1.1. By Application (Value)
- 9.2.4.1.1.1. Food & Beverages
- 9.2.4.1.1.2. Dietary Supplements
- 9.2.4.1.1.3. Personal Care & Cosmetics
- 9.2.4.1.1.4. Animal Feed
- 9.2.4.1.1.5. Pharmaceuticals
- 9.2.4.2. Argentina
- 9.2.4.2.1. By Application (Value)
- 9.2.4.2.1.1. Food & Beverages
- 9.2.4.2.1.2. Dietary Supplements
- 9.2.4.2.1.3. Personal Care & Cosmetics
- 9.2.4.2.1.4. Animal Feed
- 9.2.4.2.1.5. Pharmaceuticals
- 9.2.4.3. Rest of South America
- 9.2.4.3.1. By Application (Value)
- 9.2.4.3.1.1. Food & Beverages
- 9.2.4.3.1.2. Dietary Supplements
- 9.2.4.3.1.3. Personal Care & Cosmetics
- 9.2.4.3.1.4. Animal Feed
- 9.2.4.3.1.5. Pharmaceuticals
10. Middle East & Africa Lycopene Market Analysis, Insights and Forecast, 2025-2032
- 10.1. Key Findings / Summary
- 10.2. Market Size Estimates and Forecast
- 10.2.1. By Source (Value)
- 10.2.1.1. Natural
- 10.2.1.2. Synthetic
- 10.2.2. By Form (Value)
- 10.2.2.1. Liquid
- 10.2.2.2. Powder
- 10.2.2.3. Beadlet
- 10.2.3. By Application (Value)
- 10.2.3.1. Food & Beverages
- 10.2.3.2. Dietary Supplements
- 10.2.3.3. Personal Care & Cosmetics
- 10.2.3.4. Animal Feed
- 10.2.3.5. Pharmaceuticals
- 10.2.4. By Country
- 10.2.4.1. South Africa
- 10.2.4.1.1. By Application (Value)
- 10.2.4.1.1.1. Food & Beverages
- 10.2.4.1.1.2. Dietary Supplements
- 10.2.4.1.1.3. Personal Care & Cosmetics
- 10.2.4.1.1.4. Animal Feed
- 10.2.4.1.1.5. Pharmaceuticals
- 10.2.4.2. UAE
- 10.2.4.2.1. By Application (Value)
- 10.2.4.2.1.1. Food & Beverages
- 10.2.4.2.1.2. Dietary Supplements
- 10.2.4.2.1.3. Personal Care & Cosmetics
- 10.2.4.2.1.4. Animal Feed
- 10.2.4.2.1.5. Pharmaceuticals
- 10.2.4.3. Rest of the Middle East & Africa
- 10.2.4.3.1. By Application (Value)
- 10.2.4.3.1.1. Food & Beverages
- 10.2.4.3.1.2. Dietary Supplements
- 10.2.4.3.1.3. Personal Care & Cosmetics
- 10.2.4.3.1.4. Animal Feed
- 10.2.4.3.1.5. Pharmaceuticals
11. Competitive Matrix
- 11.1. Business Strategies Adopted by Leading Players
- 11.2. Global Lycopene Market Revenue Share/Ranking Analysis, By Key Manufacturer, 2024
12. Company Profiles
- 12.1. Lycored
- 12.1.1. Overview
- 12.1.2. Description
- 12.1.3. Product Portfolio
- 12.1.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.5. Recent Developments
- 12.2. Allied Biotech Corporation
- 12.2.1. Overview
- 12.2.2. Description
- 12.2.3. Product Portfolio
- 12.2.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.5. Recent Developments
- 12.3. Divi's Nutraceuticals
- 12.3.1. Overview
- 12.3.2. Description
- 12.3.3. Product Portfolio
- 12.3.4. Financials (Data as available in public domain and/or on paid databases)
- 12.3.5. Recent Developments
- 12.4. Vidya Herbs
- 12.4.1. Overview
- 12.4.2. Description
- 12.4.3. Product Portfolio
- 12.4.4. Financials (Data as available in public domain and/or on paid databases)
- 12.4.5. Recent Developments
- 12.5. BASF SE
- 12.5.1. Overview
- 12.5.2. Description
- 12.5.3. Product Portfolio
- 12.5.4. Financials (Data as available in public domain and/or on paid databases)
- 12.5.5. Recent Developments
- 12.6. Shaanxi Kingsci Biotechnology CO, Ltd.
- 12.6.1. Overview
- 12.6.2. Description
- 12.6.3. Product Portfolio
- 12.6.4. Financials (Data as available in public domain and/or on paid databases)
- 12.6.5. Recent Developments
- 12.7. Wellgreen Technology Co., Ltd.
- 12.7.1. Overview
- 12.7.2. Description
- 12.7.3. Product Portfolio
- 12.7.4. Financials (Data as available in public domain and/or on paid databases)
- 12.7.5. Recent Developments
- 12.8. Farbest Brands
- 12.8.1. Overview
- 12.8.2. Description
- 12.8.3. Product Portfolio
- 12.8.4. Financials (Data as available in public domain and/or on paid databases)
- 12.8.5. Recent Developments
- 12.9. Jamieson Wellness
- 12.9.1. Overview
- 12.9.2. Description
- 12.9.3. Product Portfolio
- 12.9.4. Financials (Data as available in public domain and/or on paid databases)
- 12.9.5. Recent Developments
- 12.10. Plamed Green Science Group
- 12.10.1. Overview
- 12.10.2. Description
- 12.10.3. Product Portfolio
- 12.10.4. Financials (Data as available in public domain and/or on paid databases)
- 12.10.5. Recent Developments
13. Strategic Recommendations
14. Appendix