Report Overview

Saudi Arabia Lycopene Market - Industry Trends & Forecast Report, 2028

Saudi Arabia Lycopene Market size is expected to expand at a CAGR of 7.1% during the forecast period between 2022 and 2028. The growth of Saudi Arabia lycopene market is driven by increasing adoption of lycopene by an array of industries, growing awareness of health benefits related to natural food colors and high disposable income. Consumption of fast food and the adoption of unhealthy lifestyles have increased lycopene use in the form of nutraceutical supplements, which will drive the lycopene market expansion. The surging demand for natural colorants and functional components from various sectors, as well as technological advancements associated with the production and extraction of lycopene compounds, are other macroeconomic factors positively driving the Saudi Arabia lycopene market. Another important element is the increased use of carotenoids in cosmetics, which will enhance the growth rate of the lycopene market. The increasing number of applications in nutritional and food products would also further drive Saudi Arabia lycopene market during the period in analysis.

Saudi Arabia Lycopene Market

Growth Drivers

Increasing use of lycopene in various products

Lycopene is increasingly used in a wide range of industries, including dietary supplements, food, personal care and beautifiers, and pharmaceuticals because of its qualities, which primarily include being a health ingredient, followed by serving as a coloring agent. The wellbeing ingredient property is accounted for the majority of Saudi Arabia lycopene market. The coloring operator property is affordable, due to the limited use of lycopene as a coloring specialty in the food industry. Likewise, the usage of lycopene as a health component are expanding, which is expected to aid in the growth of lycopene market in Saudi Arabia.

Restraints

Availability of alternatives

The availability of substitute items, such as synthetic food colors, is expected to limit the growth of the lycopene market. The high costs incurred throughout the processing and extraction procedure are also expected to stymie industry expansion.

Impact of COVID -19 on Saudi Arabia Lycopene Market

COVID-19 had a detrimental effect on lycopene market due to imposition of stringent lockdown norms and supply chain disruptions. To survive in the current environment, most large multinational corporations were downsizing. The pharmaceutical and cosmetic industries have been severely impacted such as negative influence on consumer expenditure, resulting in decreasing use of various cosmetic goods. It has also hampered vegetable and fruit crops. Additionally, productivity is decreased due to a scarcity of water and other resources. As a result, the lycopene market is likely to have a mild impact on the market following the recovery from COVID-19. However, nutritional supplement and pharmaceutical sales are likely to rise because of the increased sense of personal care.

Saudi Arabia Lycopene Market

Segmental Coverage

Saudi Arabia Lycopene Market – By Source

Based on source, Saudi Arabia lycopene market is divided into Natural Lycopene, Synthetic Lycopene, and Organic Lycopene. The organic lycopene is expected to hold the highest market share during the forecast period. The market expansion is attributed to growing awareness and preference for organic food and natural products, as organic-based lycopene products offer anti-cancer characteristics that guard against degenerative diseases, and organic lycopene is produced employing natural solvents and natural raw ingredients.

Saudi Arabia Lycopene Market – By Form

Based on form, Saudi Arabia lycopene market is divided into Powder, Syrup, and Capsule segments. The syrup segment is forecast to dominate the Saudi Arabia lycopene market by form. The powder form segment is expected to be the second largest segment in the market.

Saudi Arabia Lycopene Market – By Grade

Based on grade, Saudi Arabia lycopene market is bifurcated into Pharmaceutical Grade and Food Grade segments. The pharmaceutical grade segment is expected to hold a higher market share, due to a surging demand for products associated with health and dietary improvement. Majority of consumers have been actively seeking ways to improve their health and immune systems. Lycopene is one of the most powerful antioxidants, with numerous health benefits including lower risk of certain cancer types, protection from damaging sun rays, and significantly improved cardiac condition. The incidence of heart disease has increased dramatically because of the increasing sedentary lifestyle and added work pressure, and the availability of lycopene as a health ingredient could have a beneficial effect on the growth of the lycopene market in Saudi Arabia.

Saudi Arabia Lycopene Market – By End User

Based on end user, Saudi Arabia lycopene market is segmented into Food and Beverages Industry, Cosmetic and Personal Care Industry, Dietary Supplements and Functional Foods, Animal Nutrition, and Pharmaceutical Industry. The dietary supplements segment is expected to hold the highest market share. Dietary supplements are becoming increasingly popular among the idealistic population in both developed and developing countries. Lycopene is an important component of the dietary supplements that people take on a regular basis. Similarly, it is estimated that dietary supplement adoption will skyrocket in the coming years. As a result, lycopene's critical position in dietary supplement application due to its health benefits is expected to drive growth during the forecast period.

Saudi Arabia Lycopene Market – By Region

Geographically, Saudi Arabia lycopene market is segregated into Central, Southern, Northern, Eastern, and Western regions.

Competitive Landscape

Major players operating in Saudi Arabia lycopene market include Bayer AG, General nutrition center, Döhler, Noreva Biotech, GULFOOD Manufacturing, Merck KGaA, BASF, Kagome, DSM Company, and Hoffmann-La Roche Ltd. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

By Source

• Natural Lycopene

• Synthetic Lycopene

• Organic Lycopene

By Form

• Powder

• Syrup

• Capsule

By Grade

• Pharmaceutical Grade

• Food Grade

By End User

• Food and Beverages Industry

• Cosmetic and Personal Care Industry

• Dietary Supplements and Functional Foods

• Animal Nutrition

• Pharmaceutical Industry

By Region

• Central

• Southern

• Northern

• Eastern

• Western

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Saudi Arabia Lycopene Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Rising consumption of lycopene by array of industries
         2. Rising awareness regarding health benefits of natural food colors
         3. Increase in disposable income
      2. Restraints
         1. Stringent regulatory norms in terms of development and commercialization of lycopene
      3. Opportunities
         1. Rising customer preference for natural products
         2. Technological advancements linked with the development and extraction of lycopene compounds
      4. Challenges
         1. High storage costs
         2. Stability issues
   3. Technology Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Saudi Arabia Lycopene Market Overview
   1. Market Size & Forecast, 2018–2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Source
         1. Natural Lycopene
         2. Synthetic Lycopene
         3. Organic Lycopene
      2. By Form
         1. Powder
         2. Syrup
         3. Capsule
         4. Others
      3. By Grade
         1. Pharmaceutical Grade
         2. Food Grade
      4. By End User
         1. Food and Beverages Industry
         2. Cosmetic and Personal Care Industry
         3.  Dietary Supplements and Functional Foods
         4. Animal Nutrition
         5. Pharmaceutical Industry
      5. By Region
         1. Central
         2. Southern
         3. Northern
         4. Eastern
         5. Western
5. Competitive Landscape
   1. List of Key Players and Their Range
   2. Saudi Arabia Lycopene Company Market Share Analysis, 2021
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Development (Merger, Acquisition, Partnership)
6. Impact of Covid-19 on Saudi Arabia Lycopene Market Industry
7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
   1. Bayer AG
   2. General nutrition center
   3. Döhler
   4. Noreva Biotech
   5. GULFOOD Manufacturing
   6. Merck KGaA
   7. BASF
   8. Kagome
   9. DSM Company
   10. Hoffmann-La Roche Ltd.
   11. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumption & Limitation

List of Figures

Figure 1        Saudi Arabia Lycopene Segmentation

Figure 2        Saudi Arabia Lycopene Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2021

Figure 4        Saudi Arabia Lycopene Market Size, By Value (USD Million), 2018–2028

Figure 5        Saudi Arabia Lycopene Market Share, By Source, By Value, 2018–2028

Figure 6        Saudi Arabia Lycopene Market Share, By Form, By Value, 2018–2028

Figure 7        Saudi Arabia Lycopene Market Share, By Grade, By Value, 2018–2028

Figure 8        Saudi Arabia Lycopene Market Share, By End User, By Value, 2018–2028

Figure 9         Saudi Arabia Lycopene Market Share, By Region, By Value, 2018–2028.

List of Tables

Table 1         Saudi Arabia Lycopene Market Size, By Source, By Value, 2018–2028

Table 2         Saudi Arabia Lycopene Market Size, By Form, By Value, 2018–2028

Table 3         Saudi Arabia Lycopene Market Size, By Grade, By Value, 2018–2028

Table 4         Saudi Arabia Lycopene Market Size, By End User, By Value, 2018–2028

Table 5         Saudi Arabia Lycopene Market Size, By Region, By Value, 2018–2028

Table 6         Bayer AG Company Company Overview

Table 7         Bayer AG Company Financial Overview

Table 8         General Nutrition Center Company Overview

Table 9         General Nutrition Center Financial Overview

Table 10        Döhler Company Overview

Table 11        Döhler Financial Overview

Table 12        Noreva Biotech Company Overview

Table 13        Noreva Biotech Financial Overview

Table 14        GULFOOD Manufacturing Company Overview

Table 15        GULFOOD Manufacturing Financial Overview

Table 16        Merck KGaA Company Overview

Table 17        Merck KGaA Financial Overview

Table 18        BASF Company Overview

Table 19        BASF Financial Overview

Table 20        Kagome Company Overview

Table 21        Kagome Financial Overview

Table 22        DSM Company Overview

Table 23        DSM Company Financial Overview

Table 24        Hoffmann-La Roche Ltd Company Overview

Table 25        Hoffmann-La Roche Ltd Financial Overview