Phycocyanin Market to Exhibit a Remarkable CAGR of 8.23% by 2029, Size, Share, Trends, Key Drivers, Demand, Opportunity Analysis and Competitive Outlook

Data Bridge Market Research analyses that the global phycocyanin market will project a CAGR of 8.23% for the forecast period of 2022-2029. Growth and expansion of the food and beverages industry, growing focus on innovations by the food and beverages sector, rising consumer consciousness towards the consumption of food and beverages that provide high protein and other nutritional benefits, surging rate of application of food colorants and additives and increasing personal disposable income by the major companies are the major factors attributable to the growth of phycocyanin market.

Market Definition:

Phycocyanin is a light-based protein pigment that belongs to the family of phycobiliproteins. Phycocyanin is a water-soluble, fluorescent and blue pigment protein obtained by the extraction from Arthrospira platensis. Phycocyanin is used as a food colorant or additive in a wide range of applications such as confectionaries, beverages, bakery and various others. Phycocyanin is highly beneficial for consumers and useful in a number of biotechnology applications such as fluorescent reagents, probes and tracers.

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Some of the major players operating in the phycocyanin market are Cyanotech Corporation, Chr. Hansen Holding A/S, DIC CORPORATION, Dongtai City Spirulina Bio-engineering Co., Ltd., Scottish Bioenergy Cooperative Ventures Limited, GNT Group B.V., Fuqing King Dnarmsa Spirulina Co., Ltd., Fraken Biochem Co., Ltd, Parry Nutraceuticals, NATUREX, Far East Bio-Tec Co., Ltd., DDW The Color House, Zhejiang Binmei Biotechnology Co., Ltd, NutraCulture, Japan Algae Co., Ltd, AlgoSource, Wellisen Nutraceuticals Pvt. Ltd., Bluetec Naturals Co., Ltd, Pond Tech, Tianjin Norland Biotech Co., Ltd and Merck KGaA among others.

Competitive Landscape and Phycocyanin Market Share Analysis:

The phycocyanin market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to phycocyanin market.

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