The global Phycocyanin Market size is projected to accrue voluminously by 2027 registering a phenomenal CAGR of 16.0% during the review period (2022 to 2027)
Phycocyanin Market Overview
Phycocyanin is a water-soluble, fluorescent, blue pigment protein that belongs to the family of phycobiliproteins, which are the photosynthetic accessory pigments in cyanobacteria and sure red algae. It is gained by extraction from Arthrospira platensis.rising adoption of the phycocyanin for food color processing, manufacturing of dietary supplement, nutraceuticals, and therapeutic products is expected to boost the demand for phycocyanin during the forecast period. Consumer awareness regarding health hazards due to the synthetic colors and use of the spirulina as high nutritional food source and coloring agent are further attributed for the rise of the market during the forecast period. Consumption of the synthetic colors through food & beverages are showing the main serious side effects such as hyperactivity in children, as well as cancer and allergies.Phycocyanin provides high levels of essential amino acids, promotes the synthesis of elastin in the body and has anti-cancer effects. The product forms an important part of nutraceuticals industry owing to the presence of several nutrients, antioxidants and muscle enhancing properties. Growing government initiatives towards the use of organic products and increasing innovations in the development of varieties of natural colors shall foster the phycocyanin market growth.
Industry News
- In February 2018, Florida-based Valensa International and EID Parry announced to venture into the Indian market with a new joint business partnership with India-based Synthite Industries, to produce phycocyanin from organic spirulina.
- In August 2019, Scottish company ScotBio announced receiving a grant for a method for the enhanced production of phycocyanin from spirulina. The new method will enable the lower cost production of phycocyanin.
What are the major Applications, Types and Regions for Phycocyanin Market?
Phycocyanin Market is segmented based on the type, applications, companies and regions.
By Type, Phycocyanin Market has been segmented into
- Natural Food Colorant
- Pharmaceutical Industry
The end user’s industry application on Phycocyanin Market is,
- Food Grade
- Cosmetic Grade
- Pharmaceutical Grade
Phycocyanin Market Regional Analysis
North America dominated the phycocyanin market in 2020, and is projected to sustain its dominance throughout the phycocyanin market forecast period. The North America phycocyanin market is strongly driven by rising applications of phycocyanin in various sectors such as food & beverages, pharmaceutical, and cosmetic sectors. Furthermore, the demand for phycocyanin in North America is due to increase in demand for natural food color products and rise in health consciousness among consumers.
The report offers in-depth assessment of the growth and other aspects of the Phycocyanin Market in important regions, including the
North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- Latin America
Phycocyanin Market highlights the potential growth opportunities in upcoming years, while reviewing the market drivers, restraints, growth indicators, challenges, market dynamics, competitive landscape and other key aspects in the global market. The Global Phycocyanin Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry. This Research Study compares the markets of Pre COVID-19 and Post COVID-19 with the impact of COVID-19 on the regional economy.
What is our Phycocyanin Market report scope?
Report Attributes
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Report Details
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Forecast Period 2022 to 2027 CAGR
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CAGR of 16.0% during the review period (2022 to 2027).
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By Type
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- Natural Food Colorant
- Pharmaceutical Industry
- Others
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By Application
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- Food Grade
- Cosmetic Grade
- Pharmaceutical Grade
- Others
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By Companies
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DIC, Japan Algae, Parry Nutraceuticals, Ozone Naturals, EcoFuel Laboratories, Nan Pao International Biotech, King Dnarmsa Spirulina, Zhejiang Binmei Biotechnology, Wuli Lvqi, Norland and others.
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Regions Covered
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- North America
- Europe
- Asia-Pacific
- Rest of the World
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Countries Covered
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- US
- Canada
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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Base Year
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2022
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Historical Year
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2017 to 2021
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Forecast Year
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2022 to 2027
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Number of Pages
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96
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Customization Available
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Yes, the report can be customized as per your needs
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Key Takeaways from this Phycocyanin Report
- Evaluate Phycocyanin market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market - key driving factors, challenges and hidden opportunities.
- Get in-depth insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the Phycocyanin market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
FAQ -
What is the study period of this market?
The Phycocyanin Market is studied from 2017 - 2027.
What is the growth rate of Phycocyanin Market?
The Phycocyanin Market is growing at a CAGR of 16.0% over the next 5 years.
What regions does this Phycocyanin Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
