Phycocyanin is a blue pigment found in blue-green algae and used in various industries such as food, cosmetics, and dietary supplements. The market for phycocyanin is growing due to increasing demand for natural and organic colorants in the food and beverage industry. Additionally, the growing popularity of functional foods and the increasing awareness about the health benefits of phycocyanin are driving the market growth. However, the high cost of production and limited availability of raw materials may hinder market growth.
With historical data on demand (2014–2018) and anticipated estimates for the time period, Fact.latest MR’s product offers an unbiased overview of the global market for phycocyanin (2019-2028). The phycocyanin report provides compelling insights into the demand for phycocyanin based on product type (liquid and powder), application (food and beverages, nutraceuticals, animal feed, cosmetics and personal care, and others), and nature (organic and conventional) across 7 key regions and 22+ countries.
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Segmentation
Fact.MR’s study has done the segmentation of phycocyanin market on the basis of nature, form, application and region.
- By Nature :
- By Form :
- By Application :
- Food and Beverage
- Nutraceuticals
- Animal Feed
- Cosmetics and
- Personal Care
- Others
- By Region :
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Japan
- Middle East and Africa (MEA)
Key Takeaways of Global Phycocyanin Market
- Conventional nature of phycocyanin accounts for more than two third of market share and is expected to show significant growth in phycocyanin market during period of forecast, due to increased demand from food and beverages manufacturers.
- Powder form of phycocyanin is a major contributor to the global phycocyanin consumption and is projected to grow 1.9X over period of forecast, owing to its increased demand in beverages and cosmetics industry.
- Phycocyanin market in Europe holds more than one third of the market share. Moreover, increasing nutritional supplement demand from consumers will augment growth of phycocyanin during forecast period.
- Organic nature of phycocyanin holds more one third of market share, thus pushing the growth of organic phycocyanin by end of 2029.
- After the approval of the use of phycocyanin in food and beverage products is given by FDA, the demand of phycocyanin from Spirulina has started surging, and companies have begun producing various types of products made from Spirulina phycocyanin such as smoothies, juices, nutritional supplements etc.
Key Benefits For Stakeholders
- In order to pinpoint the most lucrative prospects, the study offers a comprehensive analysis of the current market trends, projections, and dynamics of market size from 2020 to 2030.
- The power of buyers and suppliers to help stakeholders make profit-driven business decisions and expand their supplier-buyer network is highlighted by Porter’s five forces analysis.
- Determining the current phycocyanin market prospects requires in-depth analysis as well as information on market size and segmentation.
- According to their share of the market’s income, the largest nations in each area are plotted.
- The market player positioning section makes benchmarking easier and gives a clear picture of where the market players are right now in the phycocyanin sector.
Questionnaire answered in the Phycocyanin Market report include:
- What is the present and future outlook of the global Phycocyanin on the basis of region?
- What are the challenges and opportunities for the Phycocyanin?
- Why the consumption of Phycocyanin highest in region?
- In which year segment is expected to overtake segment?
