Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Lycopene exists in tomato species, which is known as Solanum lycopersicum, frequently originate in Central and South American regions. It is a carotenoid and phytonutrient ingredient and is a vital antioxidant for human body which aids in shielding from worsening diseases. Most of the times, lycopene can be seen in red fruits and vegetables such as tomatoes, watermelon, papaya, guava, sweet red peppers, mango, carrots, red cabbage, and pink grapefruits.
Lycopene benefits in preventing of DNA damage in the cells together with serving them to function properly in the body. Lycopene when present in the blood and fatty tissues in the body lessens the risk of cancer, heart disease and age-related macular degeneration. It is useful in defending against stomach, colon, and lung and skin cancer. Lycopene helps in dropping the risk of arteriosclerosis and guards skin from UV damage exposure.
The rising request for organic cosmetic products is likely to accelerate the market of lycopene. In past few years, the consumer trend about the use of natural personal care products is on the verge on increase because of the growing concerns regarding the ill-effects of the chemicals used in cosmetics. Thus, lycopene operates as an exceptional natural element in the advancement of natural cosmetic products. Lycopene’s antioxidant features shield the skin from damage, assists in better skin moisturization, and enhances skin texture and elasticity. Thus, the growing consumer shift towards natural products is probable to fuel the lycopene market. Likewise, growing demand for sunscreen products is assessed to push the lycopene market over the forecast period. Lycopene is an operative colorant that looks after the skin from the damage by the U.V. rays.
The study analyses Global Lycopene market based on source, application, form and geography.
Synthetic source lycopene is aimed by majority of the production companies owing to several aspects including minimal production cost, ease in processing and vast applications in numerous industries. Moreover, the synthetic source lycopene is broadly available, which in fact dominates the market globally. Conversely, the shifting consumer trends toward improved lifestyles is the consequence of greater demand for natural products. Hence, the natural source lycopene is seen to display the highest growth rate in the lycopene market during the forecast period.
The market finds application in dietary supplements, food, pharmaceuticals and personal care products. The need for dietary supplements is increasing in developed and developing nations among the idealistic population. Lycopene comprises of a key element in the dietary supplements consumed by an individual daily. Similarly, industry experts predict the acceptance rate for dietary supplements to surge the most in the next five years. Hence, lycopene’s crucial role in the dietary supplement application owing to its distinctive health benefits is estimated to boost the growth during the forecast period.
Likewise, people with more lycopene intake are observed to have a lower risk of bladder cancer. Similarly, individual having sufficient intake of lycopene in their regular diet are likely to avoid the risk of diabetes and Parkinson disease.
Lycopene are available in the form of beadlets, oil suspension, emulsifier and powder. The beadlets form of lycopene contributed majorly in the lycopene market in previous years and is likely to continue its domination over the coming years. Beadlets are the generally used form of lycopene by collective industries globally, as it covers the highest content of lycopene concentrate. Among all the other forms such as oil suspension, powder, and emulsion, the beadlet form is seen to be produced by majority of the lycopene producers, resulting in higher demand for it.
Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World. The need for lycopene is estimated to surge in the European region. The growing number of prostate cancer patients is one of the many aspects for the increase in demand for lycopene. The demand for lycopene is anticipated to increase in the Europe region due to its latent in the action and prevention of prostate cancer.
However, lycopene market is foreseen to expand in the Asia Pacific region at a faster rate. The rising consumer spending and a shift in daily routine are a few reasons for the growth of lycopene market in the Asia Pacific region. Also, owing to the rising number working women in countries like India and China, the shift towards the application of sunscreen products is growing in order shield the skin from the pollution. Therefore, the demand for sunscreen products is expected to fuel the sales of lycopene in the Asia Pacific region.
Robust global worries about the pandemic coronavirus have significantly but negatively inclined the global functioning of the food & beverage industry and the mentality of consumers, given the health risks. Moreover, factors such as consumer uncertainties, demand-supply volatility, trade and logistics, raw material supply and on the economic front, although prices of F&B products and agricultural produce have remained stable, a prolonged outbreak of COVID-19 will lead to economic instability and food inflation. While the short-term impacts are more evident, it is yet to be understood what impacts and what magnitude of impact the outbreak of COVID-19 will have on the supply chain in the long term.
DSM, Allied Biotech Corporation, Zhejiang Nhu Co. Ltd., E.i.d. Parry, Divi’s Laboratories Limited, Lycored, Wellgreen Technology Co. Ltd., San-Ei Gen F.F.I., Inc., Dangshan Sinojuice Food Co Ltd., DDW The Color House, Döhler group among others are the major players active in the Lycopene market.
The study analyses Global Lycopene market based on application, form, function and geography. Lycopene finds major application in food and personal care products. Food application is anticipated to fuel its requirement. Lycopene are generally available in the form of powder, liquid and pellets. The powder segment is likely to overshadow other forms over the forecast period. Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World. Sucrose ester market in Europe is projected to occupy majority of the market.
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