Tomato Lycopene Market

Lycopene is a carotenoid found in tomatoes and processed tomato products. It is one of the most powerful antioxidants of the dietary carotenoids. Dietary intake of tomatoes and tomato products containing lycopene can help in reducing the risk of chronic diseases such as cancer and cardiovascular disease. More than 80% of dietary lycopene is derived from processed tomato products includes ketchup, tomato juice, spaghetti sauce, and pizza sauce. Additionally, 8 ounces of tomato juice contains approximately 23 mg of lycopene. The heat treatment of raw tomatoes converts the natural lycopene into easily available forms such as tomato juice, tomato paste and ketchup. People take lycopene to prevent cardiovascular disease and cancers of the prostate, breast, lungs, bladder, ovaries, colon and pancreas.

The major producers of tomato lycopene used fresh and dried tomatoes, tomato paste, and fresh and dried tomato pomace. For example, the production of tomato pasta (finished product) involves washing, sorting, crushing and piercing, heating (65-75 °C), wiping (tomato pomace), canning, pressing, pasteurization (80-85 °C) steps. Furthermore, tomato lycopene is used in various foods such as dairy products, flavoured non-alcoholic beverages, cereals and cereal products, breads and baked goods, and spreads to provide shades ranging from yellow to red, candies, soups, salad dressings, sauces and even fruit and vegetable juices.

The Tomato Lycopene Market Is Projected to Reach USD 155 Million by 2025, At A CAGR of 5.5% During The Forecast Period.

The market is primarily driven by the increasing benefits that lycopene offers in healthcare and its growing applications in many industries around the world. The increasing demand for organic-based lycopene products with anti-cancer properties and the increasing demand for natural colorants in ready-to-eat meat products, coupled with the expanding end-uses of lycopene in the food and beverage, cosmetics, and pharmaceutical industries drive the market growth.

Growing awareness of the benefits of natural food colours, clean label products, improve product appeal, increased R&D activities in the food industry, and increased use of microencapsulation technology are the key factors driving the growth of the tomato lycopene market. In addition, new sources of raw materials and increasing research on emerging markets such as Latin America, Southeast Asia, and Africa offer great opportunities for manufacturers across the tomato lycopene market.

Moreover, growing consumer awareness of organic products, health hazards associated with synthetic colours, and the health benefits of natural colours have increased the demand for natural colours over synthetic colours. The rapid deployment of artificial sources to increase food production has led to various health threats. Factors such as increased health consciousness and desire for eco-friendly products have increased the demand for naturally grown foods around the world. Hence, the growing demand for natural colour additives drive the demand for lycopene tomato. Additionally, the demand for organic food is constantly increasing, mainly due to consumer perception that it is healthier and safer than conventional food. Organic foods are made without the use of synthetic fertilizers, pesticides, growth hormones, antibiotics and genetically modified organisms (GMOs). Moreover, the expansion of the food and beverage industry is having a positive impact on the global tomato lycopene market as the consumption of natural foods is increasing worldwide. Therefore, the growing demand for organic foods and the expanding food and beverage industry have spurred the demand for lycopene tomato.   

Application Insights

The dietary supplements will exhibit the highest CAGR during the forecast period. Demand for dietary supplements is increasing among millennials in both developed and developing countries. Lycopene in tomatoes is an important part of the dietary supplements people consume on a daily basis. Lycopene is available as a dietary supplement in the form of tablets, capsules and gelcaps. A high intake of lycopene has been shown to be beneficial for cardiovascular health. Also, there is increasing evidence that lycopene has the ability to maintain bone strength. Clinical studies have shown that lycopene affects bone metabolism (the constant formation and breakdown of bone tissue). Lycopene is a powerful antioxidant and has many health benefits, including sun protection, improved heart health, and reduced risk of certain cancers.

Regional Insights

By region, the global tomato lycopene market is segmented into North America, Europe, Asia-Pacific, Central and South America, and the Middle East and Africa. Asia-Pacific tomato lycopene market is projected to grow at the highest CAGR from 2021 to 2031. One of the factors driving the growth of the Asia-Pacific market is the presence of tomato lycopene manufacturers in the region. In addition, tomato production is the highest of all regions, resulting in low global procurement costs for raw materials. Therefore, technological development and abundant raw materials enable manufacturers to produce tomato lycopene at competitive prices, supply many industries and gain an edge over competitors in other regions. Moreover, growing awareness of the benefits of tomato lycopene in nutraceutical, personal care, and cosmetic applications is expected to boost the demand for lycopene. This has increased exports from the region's lycopene surplus production and is expected to increase further. In addition, the development of technologies to produce high quality tomato lycopene and increasing adoption of lycopene in emerging markets such as China, India create new opportunities for the tomato lycopene market. However, higher research and development costs, the harmful effects of lycopene overdose, and stringent government regulations and permitting processes are the major constraints on the tomato lycopene market.

Key Companies Insights

Key players are focusing on technology collaborations, partnerships, mergers and acquisitions strategies to gain competitive advantage and expand product portfolios and business footprints. In addition, constant research and development bring innovative products to market. The companies are projected to lengthen their business by improving their product portfolio in tomato lycopene market.

Some of the key players operating in the global tomato lycopene market include:

·         Lycored

·         Shaanxi Undersun Biomedtech

·         San-Ei Gen

·         Morning Star

·         Licofarma

·         BASF

·         Dangshan Sinojuice Food

·         Xi an Sost Biotech CO, Ltd.

·         Sv Agrofood

·         Other Players

Segments

By Type

·         5% Type

·         10% Type

·         Type 3

·         Type 4

By Application

·         Dietary Supplements

·         Food and Beverage

·         Others

By Geography

·         North America

o   U.S.

o   Canada

o   Mexico

·         Europe

o   U.K.

o   Germany

o   France

o   Italy

o   Spain

o   Russia

·         Asia-Pacific

o   Japan

o   China

o   India

o   Australia

o   South Korea

o   ASEAN

·         Latin America

o   Brazil

o   Argentina

o   Colombia

·         MEA

o   South Africa

o   Saudi Arabia

o   UAE

o   Egypt

    Key Points:
• Define, describe and forecast Tomato Lycopene product market by type, application, end user and region.
• Provide enterprise external environment analysis and PEST analysis.
• Provide strategies for company to deal with the impact of COVID-19.
• Provide market dynamic analysis, including market driving factors, market development constraints.
• Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
• Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.
• Analyze the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.