The Middle East to Witness Considerable Growth in the Lycopene Market

Rising consumer awareness regarding personal health and care due to increasing internet penetration and surging use of social media bolsters market growth. The consumers are inclining towards online shopping for free home-delivery and massive discounts, which is further offering lucrative opportunities for the market players. Independent living, high brand engagement through social media, and attractive packaging provides an impetus to the market growth. Apart from this, the Middle East is projected to witness considerable growth on account of the rapid economic development and presence of manufacturers of lycopene in the region.

Impact of COVID-19

Coronavirus has compelled the global economies to impose a nationwide lockdown. Most of the global multinationals are downsizing to sustain in the current situation. This is likely to have a negative impact on consumer spending, leading to lower consumption of various cosmetic products. However, dietary supplements and pharmaceutical sales are expected to increase, owing to the heightened sense of personal care.

Key Players

• Lycored
• DSM
• Allied Biotech Corporation
• Wellgreen Technology Co Ltd
• San-Ei Gen F.F.I., Inc
• Dangshang Sannuo Limited
• DDW
• Döhler
• Vidya Herbs
• Shaanxi Kingsci Biotechnology Co. Ltd
• Hunan Sunshine Bio-Tech Co.Ltd
• SV AgroFoods
• Plamed Green Science Group
• Xi'an Natural Field Bio-Technology Co.,Ltd
• Zhejiang NHU CO. Ltd

Lycopene Market: Segmentation

By Type

• Synthetic Lycopene
• Natural Lycopene

By Formulation

• Powder
• Beadlets
• Emulsion
• Oil Suspension

By Application

• Food and Beverages
• Personal Care Products
• Pharmaceuticals
• Dietary Supplements

By End-Use

• Colouring Ingredient
• Health Ingredient

By Region

• North America
• Europe
• Asia-Pacific
• Central and South America and the Caribbean
• The Middle East and Africa