Press release
Phycocyanin Market Share, Size, Emerging Trends, Strong Application Scope, Status, Incredible Possibilities, Growth Analysis and Forecast to 2029
Phycocyanin Market Overview: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.
The global Phycocyanin market size was valued at USD 140.67 million in 2020, and is estimated to reach USD 400 million by 2029, registering a CAGR 9.44% during the forecast period 2022-2029.
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Phycocyanin Market Key Players
The study of the growth of the top market player for in the target sector includes new projects with speculative returns, innovations and study of the accessibility of companies. some of the profiled players are Bluetec Naturals Co., DDW Inc., DIC Corporation, Earthrise Nutritionals LLC, Japan Algae Co. Ltd., Parry Nutraceuticals, Phyco-Biotech Laboratories, Qingdao ZolanBio Co and Others
Acquisition and Mergers
In July 2020, French renewable energy firm Global EcoPower (GEP) acquired the spirulina production and marketing assets of Tam, as it continued to focus more towards sustainable agriculture. With this acquisition, GEP targeted enhancing its spirulina and phycocyanin production and strengthen its position in the growing markets.
Product Launches and Product Expansions
In June 2020, GNT Group, the supplier of Coloring Foods had established a variety of blue powders Exberry obtained from Phycocyanin with significantly higher color strength. They are offered in both micronized powder and standard form.
In June 2020, DIC launched a liquid version of its Linablue naturally derived blue food coloring.
In August 2019, as reported by FoodNavigator, Scottish biotech company ScotBio developed a patent-protected method of improving the amount of phycocyanin and said that the innovation would make indoor-grown spirulina a cost-effective option for the food sector.
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Phycocyanin Market Segmentation:
Phycocyanin Market By Form, 2020-2029, (USD Million, Kilotons)
Powder
Liquid
Phycocyanin Market By Grade, 2020-2029, (USD Million, Kilotons)
Food Grade
Pharma Grade
Reagent & Analytical Grade
Phycocyanin Market By Application, 2020-2029, (USD Million, Kilotons)
Food & Beverage
Cosmetics
Pharmaceuticals
Nutraceuticals
Others
Growth Factors:
Increasing demand from the Phycocyanin industries
The growing use of Phycocyanin in Chemical and Material Sectors.
Rising demand for products
Technological advancements in production processes
Growing applications in Phycocyanin Market
Phycocyanin Market Regional Analysis
Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Fiberglass Storage Tank (Fiberglass Tank) Professional in these regions, from 2022-2029, covering
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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Key Phycocyanin Market Trends
- The report identifies, determines, and forecasts the Global Phycocyanin Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Phycocyanin Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is expected to drive the Growth
- Rising Adoption of Market Segments in the Phycocyanin Growth
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Phycocyanin Market.
Frequently Asked Questions
Q1. What will be the Phycocyanin Market Size From 2021 to 2030?
Q2. What is the CAGR of Phycocyanin Market?
Q3. How can I get sample report of phycocyanin market?
Q4. Which is the base year calculated in the Phycocyanin market report?
Q5. What are the segments of Phycocyanin Market?
Q6. Which are the top companies in the Phycocyanin Market?
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