Press release
Phycocyanin Market Growth: Projected to Reach USD 391.72 Million by 2030 at a 9.82% CAGR
Phycocyanin Market
The market for phytocyanin is anticipated to expand quickly over the course of the forecast period as a result of growing consumer health consciousness, a growing need for natural food coloring, and a wide range of applications across many industries. The use of phycocyanin as a natural substitute for artificial coloring in food and drink, its acceptance in dietary supplements due to its established health benefits, and the rise in research and development projects investigating its potential as a medicine are some of the factors driving this growth.
The food and beverage industry has seen tremendous progress thanks to investments made by DIC Corporation, Sensient Technologies Corporation, and Chr. Hansen Holding A/S in efficient extraction processes, increased production capacity, and creative applications for phycocyanin. There have been recent breakthroughs in extraction processes to improve yield and purity, as well as strategic partnerships, mergers, and acquisitions targeted at expanding product portfolios and geographic reach in order to meet the growing demand for this natural pigment. The market for phycocyanin looks promising in the future due to continued advancements in product development, increased awareness of its health benefits, and a growing trend toward natural ingredients in a variety of industries. These factors are expected to propel the market's growth in the years to come.
๐๐ฑ๐ฉ๐๐๐ญ๐๐ ๐๐๐ฏ๐๐ง๐ฎ๐ ๐๐ซ๐จ๐ฐ๐ญ๐ก:
The Phycocyanin Market size was valued at USD 203.33 Million in 2023 and the total Phycocyanin revenue is expected to grow at a CAGR of 9.82 % from 2024 to 2030, reaching nearly USD 391.72 Million by 2030.
๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐๐๐๐ข๐ญ๐ข๐จ๐ง๐๐ฅ ๐๐๐ญ๐๐ข๐ฅ๐ฌ ๐๐ฒ ๐๐ฅ๐ข๐๐ค๐ข๐ง๐ ๐ญ๐ก๐ ๐ฅ๐ข๐ง๐ค ๐ฉ๐ซ๐จ๐ฏ๐ข๐๐๐: https://www.maximizemarketresearch.com/request-sample/45492/
๐๐ก๐ฒ๐๐จ๐๐ฒ๐๐ง๐ข๐ง ๐๐๐ซ๐ค๐๐ญ ๐๐ฒ๐ง๐๐ฆ๐ข๐๐ฌ:
๐๐ซ๐จ๐ฐ๐ข๐ง๐ ๐๐๐๐ ๐๐จ๐ซ ๐๐๐ญ๐ฎ๐ซ๐๐ฅ ๐ ๐จ๐จ๐ ๐๐จ๐ฅ๐จ๐ซ๐๐ง๐ญ๐ฌ ๐ฉ๐ซ๐จ๐ฉ๐๐ฅ๐ฌ ๐ญ๐ก๐ ๐ ๐ซ๐จ๐ฐ๐ญ๐ก ๐จ๐ ๐ญ๐ก๐ ๐ฉ๐ก๐ฒ๐๐จ๐๐ฒ๐๐ง๐ข๐ง ๐ฆ๐๐ซ๐ค๐๐ญ.
The market for phycocyanin has expanded quickly, mostly due to the growing need for natural food colorings. Phycocyanin meets the demand for clean-label, natural food coloring solutions by standing out with its brilliant blue hue generated from blue-green algae like spirulina, which is becoming more and more popular among customers looking for natural alternatives. This tendency places Phycocyanin as a sought-after natural pigment in a variety of industries, in line with the broader market drive towards cleaner, healthier materials.
The market for phycocyanin has been driven by consumers' growing health consciousness and its natural antioxidant and nutritional benefits. Research has shown that the sales of products with natural antioxidants have increased by 20%, suggesting that consumers are becoming more and more interested in substances that improve health. The market expansion of phycocyanin has been greatly aided by the growing knowledge of its health benefits, especially in the pharmaceutical and nutritional supplement industries.
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐๐ซ๐ค๐๐ญ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐จ๐ซ ๐๐ก๐ฒ๐๐จ๐๐ฒ๐๐ง๐ข๐ง:
๐๐จ๐ฆ๐ข๐ง๐๐ง๐๐ ๐จ๐ ๐๐ฌ๐ข๐ ๐๐๐๐ข๐๐ข๐ ๐ข๐ง ๐ญ๐ก๐ ๐๐๐ซ๐ค๐๐ญ ๐๐จ๐ซ ๐๐ก๐ฒ๐๐จ๐๐ฒ๐๐ง๐ข๐ง
The Asia Pacific region commanded the majority of the phycocyanin market in 2023 and is anticipated to hold this position going forward. China and India become important centers of production because of their climates, which are ideal for growing algae. Driven by its large algae farming, China, a top producer, boasts a manufacturing capability of over 2000 tonnes annually. India comes in second, sending about 1200 tonnes per year to the world market.
๐๐๐๐๐ฌ๐ฌ ๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐จ๐ ๐จ๐ฎ๐ซ ๐๐จ๐ฆ๐ฉ๐ซ๐๐ก๐๐ง๐ฌ๐ข๐ฏ๐ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก ๐ซ๐๐ฉ๐จ๐ซ๐ญ: https://www.maximizemarketresearch.com/request-sample/45492/
๐๐ก๐ฒ๐๐จ๐๐ฒ๐๐ง๐ข๐ง ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง
๐๐ฒ ๐๐๐ญ๐ฎ๐ซ๐
Organic
Conventional
๐๐ฒ ๐ ๐จ๐ซ๐ฆ
Powder
Liquid
Based on form, powdered phycocyanin dominated the market for phycocyanin since it is widely used as a natural blue colorant in food and drinks, among other industries. Because of its dry form, it is simple to incorporate into supplements, dry mixes, and solid formulations, which improves the products' visual attractiveness. Because powdered phycocyanin is stable in formulas such as powdered cosmetics products, it is preferred in the cosmetic sector.
๐๐ฒ ๐๐ซ๐๐๐
Phycocyanin E18
Phycocyanin E25
Phycocyanin E3.0
๐๐ฒ ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง
Food & Beverages
Cosmetics & Personal Care
Nutraceuticals
Animal Feed
Aquaculture
๐๐ก๐ฒ๐๐จ๐๐ฒ๐๐ง๐ข๐ง ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
Major Contributors in the Phycocyanin Industry in North America:
1. Cyanotech Corp., Hawaii, US
2. Sensient Technologies Corporation, Wisconsin, US
3. Algorigin USA, California, US
4. Earthrise Nutritionals, California, US
5. Parry Nutraceuticals, Arizona, US
Leading players in the Europe Phycocyanin Market:
1. Algatech, Israel
2. Farmaespaรฑa, Spain
3. Algenics, France
4. VHB Herbs, Bulgaria
5. GNT Group, Germany
Key players driving the Asia-Pacific Phycocyanin market:
1. DIC Corporation, Tokyo, Japan
2. Far East Bio-Tec Co., Ltd., Taiwan
3. Fraken Biochem Co., Ltd, Shandong, China
4. Kingherbs Limited, Hunan, China
๐๐จ ๐๐๐๐๐ฌ๐ฌ ๐ฆ๐จ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ซ๐๐ก๐๐ง๐ฌ๐ข๐ฏ๐ ๐ข๐ง๐๐จ๐ซ๐ฆ๐๐ญ๐ข๐จ๐ง, ๐๐ฅ๐ข๐๐ค ๐ก๐๐ซ๐: https://www.maximizemarketresearch.com/market-report/global-phycocyanin-market/45492/
๐๐๐ฒ ๐ช๐ฎ๐๐ฌ๐ญ๐ข๐จ๐ง๐ฌ ๐๐ง๐ฌ๐ฐ๐๐ซ๐๐ ๐ข๐ง ๐ญ๐ก๐ ๐๐ก๐ฒ๐๐จ๐๐ฒ๐๐ง๐ข๐ง ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐:
What is Phycocyanin?
What is the growth rate of the Phycocyanin Market?
Which are the factors expected to drive the Phycocyanin market growth?
What are the different segments of the Phycocyanin Market?
What growth strategies are the players considering to increase their presence in Phycocyanin?
What are the upcoming industry applications and trends for the Phycocyanin Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Phycocyanin Market?
Who are the leading companies and what are their portfolios in Phycocyanin Market?
What segments are covered in the Phycocyanin Market?
Who are the key players in the Phycocyanin market?
๐๐๐ฒ ๐๐๐๐๐ซ๐ข๐ง๐ ๐ฌ:
Past Market Size and Competitive Landscape
Past Pricing and price curve by region
Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation - A detailed analysis by segment with their sub-segments and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
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๐๐จ๐ง๐ญ๐๐๐ญ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
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๐๐๐จ๐ฎ๐ญ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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The global phycocyanin market is expected to witness healthy growth during the forecast period, due to the increasing demand for natural products from around the world. Phycocyanin is a pigment-proteinโฆ
