Global Phycocyanin Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at a CAGR of XX% during the forecast period.
Drivers & Restraints:
Things like bright blue colored topping on a cupcake or an ocean-blue colored candy have been appealing to the attention of consumers belonging to different age groups. Phycocyanin is a blue pigment derived from a maritime source, blue-green algae, and used as a food colorant. Marine-originated phycocyanin has numerous key attractive aspects that are answerable for the growth of the phycocyanin market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Also, consumer demands and perceptions are reforming the food & beverage market with a new wave of natural ingredients & products. Phycocyanin is derived from natural resources, provided that natural solutions for blue colorants in the global phycocyanin market. Because of the augmented market demand for natural ingredients, phycocyanin is expected to experience a surge in the market demand over the estimated period.
Nevertheless, phycocyanin contamination is affecting production, break-in import and export of phycocyanin and rough environment change challenging the production of phycocyanin are hampering the growth of the global phycocyanin market.
Market Segmentation:
The phycocyanin market is segmented into nature, form, grade, application, and region.
By the application, the food and beverage market is expected to reach XX% during the forecast period. Because producers are targeting stakeholders in the food and beverage space to increase the application of phycocyanin in confectionaries, ice creams, and beverages. As phycocyanin delivers more stability as compared to other natural blue colorants, stakeholders in the food and beverage landscape are progressively using this pigment for alcoholic beverages.
As the food and beverage industry is quickly growing, producers are increasing the production of indoor-grown, high-quality, and pure phycocyanin. For achieving this, they are rising their spirulina algae in custom-growing facilities to excerpt five times more algae as compared to extracting phycocyanin from open pond systems, which also helps as a cost-effective option for them.
Region-wise, North America, Latin America, Europe, Asia Pacific, and ME&A are the regions that are involved in this report. Europe is the largest phycocyanin market particularly Western Europe is the leading market in the global phycocyanin market in terms of value. The Western Europe phycocyanin market held the largest market share and is expected to grow at a value CAGR of XX% in the estimated period. Moreover, the North American market is expected to grow at a healthy CAGR of XX% in the future because of the gradually increasing production capacity for soy food products in this region.
Strategic Development:
Some of the main developments seen in the phycocyanin market, such as In Feb 2018, Florida-based Valensa International and EID Parry declared to venture into the Indian market with a new joint business partnership with India-based Synthite Industries, to produce phycocyanin from organic spirulina.
In Aug 2019, Scottish company ScotBio stated receiving a grant for a method for the improved production of phycocyanin from spirulina. The new method will allow the lower-cost production of phycocyanin.
Furthermore, DIC is the largest company in the global Phycocyanin market, followed by King Dnarmsa Spirulina and Parry Nutraceuticals, which accounted for the revenue market share. The Phycocyanin industry is not concentrated, these producers range from large multinational corporations to small privately-owned companies compete in this industry.
The objective of the report is to present a comprehensive analysis of the Global Phycocyanin Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by Region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by Region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Phycocyanin Market dynamics, structure by analyzing the market segments and project the Global Phycocyanin Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Phycocyanin Market make the report investor’s guide.
Scope of the Global Phycocyanin Market
Global Phycocyanin Market, By Nature
• Organic
• Conventional
Global Phycocyanin Market, By Form
• Powder
• Liquid
Global Phycocyanin Market, By Grade
• Phycocyanin E18
• Phycocyanin E25
• Phycocyanin E3.0
Global Phycocyanin Market, By Application
• Food & Beverages
o Confectioneries
o Beverages
o Dairy Products
o Bakery Products
o Baby Food Formula
o Others
• Cosmetics & Personal Care
o Face Creams
o Moisturizers & Lotions
o Lipsticks
o Eye Liners
o Eye Shadow
o Soaps
o Body Wash
• Nutraceuticals
• Animal Feed
• Aquaculture
Global Phycocyanin Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in Global Phycocyanin Market
• Chr. Hansen Holding A/S
• DDW Inc.
• Cyanotech Corp.
• Dongtai City Spirulina Bio-Engineering Co., Ltd.
• Parry Nutraceuticals Limited
• Fuqing King Dnarmsa Spirulina Co., Ltd.
• Sensient Technologies Corp.
• GNT Holding B.V.,
• Döhler GmbH
• Naturex S.A.
• DIC Corporation
• Naturalin Bio-Resources Co., Ltd.
• Far East Bio-Tec Co., Ltd.
• Fraken Biochem Co., Ltd.
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