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Phycocyanin Market Industry Improvement Status and Outlook by 2029
Phycocyanin Market
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Phycocyanin is available in various grades and forms. Phycocyanin is a blue pigment extracted from the blue-green algae - spirulina. Phycocyanin belongs to the phycobilli protein group, used primarily as a colorant in various food and beverage products in the global market. Phycocyanin Market is anticipated to grow at a rate of ~7% over the period of 2019-2029. Phycocyanin is available in organic and conventional nature.
Due to the increasing prevalence of diseases and foodborne allergies, consumers are preferring healthy and clean label ingredients for consumption. Consumers highly care for the provenance of the food and beverage products that they consume. This is creating a trend for organically-produced ingredients and food products. This trend is not only limited to food products but is also being seen in cosmetic products. As a result, organically-produced phycocyanin is witnessing increased demand from consumers and manufacturers alike.
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Health Benefits and Nutritional Contents Associated with Phycocyanin
Phycocyanin, extracted from the blue-green algae, used primarily as a food and beverage colorant, has numerous health benefits. Phycocyanin has been reported to have anti-oxidant, anti-inflammatory, anti-cancer, and immune improving characteristics. The use of phycocyanin for reducing cancer cell growth is being studied. However, other claimed health and nutritional benefits associated with the consumption of phycocyanin are likely to attract the attention of consumers, bolstering the demand for phycocyanin.
Increasing Consumption of Colored and Flavored Beverages
Increasing research and development spending has enabled various novel product launches in the global food and beverage market. New colored and flavored beverages are gaining momentum in the global market, due to increased demand from the younger generation. The use of phycocyanin in flavored and colored beverages provides blue color to the end product with enhanced functional property as well. Due to the increased consumption of beverage and food products, the demand for phycocyanin is also increasing in the global market.
Global Phycocyanin Market: Competitive Landscape
Some of the key players in the global phycocyanin market are Cyanotech Corp., Chr. Hansen Holding A/S, DIC Corporation, Naturalin Bio-Resources Co., Dongtai City Spirulina Bio-Engineering Co., Ltd., GNT Holding B.V., Fuqing King Dnarmsa Spirulina Co., Ltd., Sensient Technologies Corp., Fraken Biochem Co., Ltd., Parry Nutraceuticals Limited, Döhler GmbH, Naturex S.A., Ltd., Far East Bio-Tec Co., Ltd., DDW Inc., and others.
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Global Phycocyanin Market: Segmentation
Phycocyanin Market by Nature
Organic
Conventional
Phycocyanin Market by Form
Powder
Liquid
Phycocyanin Market by Grade
Phycocyanin E18
Phycocyanin E25
Phycocyanin E3.0
Phycocyanin Market by Application
Food & Beverages
Confectioneries
Beverages
Dairy Products
Bakery Products
Baby Food Formula
Others
Cosmetics & Personal Care
Face Creams
Moisturizers & Lotions
Lipsticks
Eye Liners
Eye Shadow
Soaps
Body Wash
Nutraceuticals
Animal Feed
Aquaculture
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