TOMATO LYCOPENE MARKET ANALYSIS

Tomato Lycopene MarketSize and Trends

The global tomato lycopene market size was valued at US$ 124.6 Mn in 2023 and projected value US$ 188.3 Mn by 2030 and is expected to register a CAGR of 6.1% during the forecast period, 2023-2030. Lycopene is a carotenoid pigment responsible for the red color of tomatoes and other fruits and vegetables. It is one of the most powerful antioxidants, which helps protect cells from damage caused by free radicals. Lycopene has been linked to a number of health benefits, including a reduced risk of heart disease, stroke, prostate cancer, and other chronic diseases.

The growing demand for lycopene from the nutraceutical sector is one of the key factors driving the growth of the market. Lycopene is used in a variety of dietary supplements, including capsules, powders, and liquids. It is also added to a number of food products, such as yogurt, juices, and snacks. The rising demand for lycopene as a food coloring agent is another key factor driving market growth. Lycopene is a natural red colorant that is used in a variety of food products, such as tomato sauces, ketchup, and salad dressings.

Global Tomato Lycopene Market Trends

• Rising demand for organic and natural products: Consumers are increasingly seeking organic and natural food ingredients and supplements. This trend extends to tomato lycopene, with a growing demand for organic-certified and naturally derived lycopene products. Consumers are conscious of avoiding synthetic additives and prefer products that align with their health and sustainability values.
• Increased focus on personalized nutrition: Personalized nutrition is gaining prominence as consumers recognize the unique nutritional needs of individuals. Tomato lycopene can be positioned as part of personalized nutrition strategies, offering targeted health benefits based on individual requirements. This trend presents opportunities for customized lycopene formulations and tailored dietary solutions.
• Advent of novel extraction techniques: Technological advancements have led to the development of innovative extraction techniques for lycopene. These techniques help preserve the quality, bioavailability, and stability of lycopene, ensuring its effectiveness in various applications. Advanced extraction methods, such as supercritical fluid extraction and nanotechnology-based approaches, are being explored to enhance lycopene extraction efficiency.
• Growing popularity of plant-based diets: The rise of plant-based diets is driving the demand for natural plant-derived ingredients like tomato lycopene. As consumers shift towards vegetarian and vegan lifestyles, they seek plant-based alternatives to traditional animal-derived products. Tomato lycopene provides a natural source of antioxidants and color in plant-based food products, appealing to this growing consumer segment.