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Demand Of Lycopene Is Set To Rise At 5% CAGR Through 2032

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Pratibha Khopade

The global lycopene market is currently valued at US$ 141.9 million and is expected to grow to US$ 232.3 million by the end of 2032. From 2022 to 2032, global demand for lycopene is expected to rise at a 5% CAGR.

Growing demand for organic lycopene products with anti-cancer properties to protect against degenerative diseases is expected to drive market growth in the coming years.

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Consumers’ attention has shifted away from animal leather and toward synthetic leather, resulting in synthetic leather demand, which generates a plethora of opportunities. It attracts domestic and international investments, which ultimately boosts global revenue growth. Microfiber synthetic leather is widely regarded as the best vegan leather and the best substitute for animal leather.

Lycopene is a powerful antioxidant found in tomatoes and other fruits and vegetables. It is used as a dietary supplement to improve heart health and reduce the risk of certain types of cancer. Demand for lycopene is expected to increase, especially as awareness of its health benefits grows. The global lycopene market is anticipated to expand at a CAGR of 5.8% from 2020 to 2027. This growth is due to the rising demand for natural dietary supplements and the increasing demand for food fortification with lycopene. Furthermore, the growing awareness about the health benefits of consuming lycopene is likely to drive the global lycopene market over the forecast period.

Key Companies Profiled

  • DSM
  • BASF
  • Kagome
  • LycoRed
  • Wellgreen Technology
  • Koninklijke DSM N.V.
  • Hoffmann-La roche Ltd

Key Segments Covered

  • Product Type
  • Bio-Based Leather
  • PU Synthetic Leather
  • PVC-Based Synthetic Leather
  • Application
  • Clothing
  • Furnishing
  • Bags, Purses & Wallets
  • Footwear
  • Automotive
  • Other Applications

The following key insights are included in the report:

  • An in-depth assessment of the leading market players in the Lycopene Market
  • A regional analysis of the various market segments and sub-segments
  • Recent mergers, acquisitions, collaborations, partnerships, and research and development activities.
  • Y-o-Y revenue growth of the Lycopene Market during the forecast period


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Pratibha Khopade
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