The lycopene food colors market valued at USD 84 million in 2022, anticipates rapid growth with a 10.7% CAGR to reach USD 257 million by 2032. Increased demand in beverages, packaged foods, dairy, confectionery, cosmetics, and the trend towards natural, clean label products drive this surge. Lycopene, a natural pigment found in various sources, serves as an antioxidant, driving its adoption due to perceived health benefits and the rising preference for natural food coloring.
The global lycopene food colors market is projected to expand at a 10.7% compound annual growth rate (CAGR) from 2022 to 2032, with a valuation of USD 84 million in 2022 and USD 257 million by that time. Some of the main causes driving demand for lycopene food colours include the growing use of the colour in beverages, packaged food products, dairy products, confectionery and bakery goods, and cosmetics. There is also a growing demand for natural and clean label products.
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Among the naturally occurring pigments in fruits, vegetables, algae, and fungi is lycopene. When ingested, it acts as an antioxidant to shield the body from damage caused by free radicals. Rising consumer awareness of lycopene’s potential health benefits and the growing demand for natural food colouring are expected to fuel the lycopene market’s significant growth over the forecast timeframe.
Manufacturing industries are adding lycopene colors in their food products as consumers are shifting their preference towards natural and organic food items to maintain overall health.
Lycopene, like natural food colorants, is remedial in nature and is known for preventing several diseases including hypothesis, cancer, cardiovascular diseases, osteoporosis, other bone disorders, male infertility, hypertension, and other human diseases.
The global lycopene market is likely to boost in the forecasted period of the next ten years due to its significant use in the pharmaceutical and food industry. Lycopene also offers benefits in the cosmetics and personal care industry.
An increase in consumer discretionary income in regions such as the Asia Pacific, the Middle East, and Africa has made it easier for customers to consume new and unique food products that are sourced from plants. The consumption pattern of consumers is inclining toward healthy and organic food products, which is impacting the food and beverage category, as well as the lycopene food colors market.
Key Takeaways from Market Study
- By nature, organic segment is likely to be the most remunerative in the global lycopene food colors market during the forecast period.
- By application, the beverages segment is expected to hold the largest share of the global lycopene food colors market while the bakery and confectionery segment is expected to grow at a CAGR of 9.5% throughout the forecast period.
- The lycopene food colors markets in North America and Latin America are poised to expand at a CAGR of 8.02% and 7.9% respectively, through 2032.
- Europe lycopene food colors market stands at 590 metric tons by volume and nearly US$ 23 Mn by value. Furthermore, demand for lycopene food colors in the region is expected to grow at 8.9% CAGR between 2022 and 2032.
- The U.S. lycopene food colors market is expected to grow at a CAGR of 8.34% during the forecast period.
Competitive Landscape
Some key market participants are Chr. Hansen, Koninklijke DSM N.V., Hoffmann-La roche Ltd., General nutrition center company, Jamieson laboratories Ltd., San-Ei Gen, Licofarma S.r.l., Dangshan sinojuice food, DSM, BASF, Kagome, Xi’an lyphar biotech corp, LycoRed, Kagome, Tomatia, Wellgreen Technology, Shaanxi huike botanical development Co. Ltd., Royal DSM N.V., NBTY, and Bayer AG, among other prominent players.
The market for lycopene food colors has several big names who are primarily converging on developing advanced versions of lycopene mainly for increasing its end-use in various industries. They are also striving to achieve economies of scale in order to substitute synthetic red colors in food processing industries.
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Lycopene Food Colors Market Taxonomy
By Nature:
- Organic
- Conventional
By Form:
- Powder
- Capsule
- Syrup
By Application:
- Bakery & Confectionery Products
- Beverages
- Packaged Food/Frozen Products
- Dairy Food Products
- Cosmetics
- Others
By Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
Frequently Asked Questions
- How big is the lycopene food colors Market?
- How much does lycopene food colors market contribute to the natural food colors Market?
- What are the key trends shaping lycopene food colors market?
- At what rate will lycopene food colors demand grow in Europe?
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