phycocyanin market is expected to reach $409.8 million by 2030, with a projected CAGR of 9.6% from 2021 to 2030.

According to a new report published by Allied Market Research, titled, "Global Phycocyanin Market by Form, Grade and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030,"

The global phycocyanin market size is expected to reach $409.8 million by 2030 at a CAGR of 9.6% from 2021 to 2030.

𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐆𝐫𝐚𝐩𝐡𝐬 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬 @ https://www.alliedmarketresearch.com/request-sample/12709

Phycocyanin belongs to the light harvesting phycobiliprotein family. It is found in Cryptophyceae, cyanobacteria, Rhodophyceae and according to the species it is called as C-PC and R-PC. It has been gaining major popularity in medical and biotechnology filed as C-phycocyanin isolated from S. platensis having many therapeutic efficacies such as anticancer properties, free radical scavenging activity, and antioxidant and anti-inflammatory properties.

North America and Europe are critically banning use of synthetic colors in food & beverages, owing to its health hazards hyperactivity in the children and skin allergies. For instance, European Food Safety Authority, the regulatory agency of EU countries has banned the utilization of synthetic color for food safety for the products that are consumed in EU countries, which subsequently promotes the growth for natural color market; thus, indirectly boosting the demand for phycocyanin during the forecast period.

𝐆𝐞𝐭 𝐘𝐨𝐮𝐫 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 @ https://www.alliedmarketresearch.com/request-for-customization/12709

During COVID-19 pandemic, people were highly preferred to consume natural and organic functional, nutritional and dietary food and supplements in order to increase the immune system, which fueled the demand for natural coloring agents, organic ingredients, and food additives. Thus, growing demand for high nutritional food with organic and natural ingredients, additive and coloring agents have accelerated the growth of the phycocyanin market during the pandemic, and is expected to sustain its popularity after pandemic.

The phycocyanin market is segmented on the basis of form, grade, application, and region. On the basis of form, the market is categorized into powder and liquid. On the basis of grade, the market is divided into food grade, pharma grade and reagent & analytical grade. By application, it is segregated into food & beverages, pharmaceuticals, cosmetics, nutraceuticals and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, the Netherlands, and rest of Europe), Asia-Pacific (China, Japan, Australia, South Korea, India, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, Saudi Arabia, Turkey, and rest of LAMEA).

According to the phycocyanin market trends, on the basis of form, the liquid segment was valued at $11.8 million in 2020, and is projected to reach $39.0 million by 2030, registering a CAGR of 12.1% from 2021 to 2030. Liquid phycocyanin has been gaining significant traction among end users as liquid phycocyanin is more concentrated than powder so food & beverages manufacturing companies need liquid phycocyanin in lesser quantity.

𝐒𝐏𝐄𝐀𝐊 𝐖𝐈𝐓𝐇 𝐀𝐍𝐀𝐋𝐘𝐒𝐓 @ https://www.alliedmarketresearch.com/connect-to-analyst/12709

On the basis of grade, the reagent & analytical grade segment is estimated to reach $14.8 million by 2030, at a CAGR of 10.1%. The grades of the phycocyanin are based on the purity of the phycocyanin and on the basis of purity, it is used in various applications such as pharmaceutical, biomedical, and food & beverages. C-PC purity is defined as the ratio between the absorbances at 620 nm and 280 nm; when this ratio is ≥ 0.7, C-PC is considered to be of food grade purity and when ≥ 4.0 it is considered to be of analytical grade purity. Analytical grade phycocyanin is used for pharmaceutical and nutraceuticals applications as it is a nontoxic and non-carcinogenic natural coloring agent.

As per application, the cosmetic segment is estimated to reach $32.7 million by 2030, growing at a CAGR of 10.9%. Phycocyanin has been gaining considerable popularity cosmetic and personal care industry, owning to its free radical scavenging and anti-inflammatory properties. Growth in demand for premium cosmetic products and greater acceptance for the organic and natural ingredient-based cosmetic products are likely to surge the growth of the phycocyanin through cosmetic segment. For instance, Kunye's Nourish Face Mask has gained major popularity among the health-conscious customers. Nourish Face Mask is an organic face mask that combines formula such as phycocyanin, wheatgrass, neem, sea kelp, and Canadian bentonite Clay.

Region wise, Europe has been gaining considerable traction in the phycocyanin market, and is expected to grow at a significant CAGR during the forecast period. EFSA, the regulatory agency of EU countries for food safety, has banned the use of synthetic colors in the products consumed in EU countries, which is expected to boost the growth of the natural color market. Changes in consumer preferences toward nutritious and healthy products is the new trend for which companies are launching innovative products to supplement the demands of the modern society. Thus, growing demand for organic and natural food color and high inclination toward nutritious foods products are expected to accelerate the growth of the Europe phycocyanin market during the forecast period.

𝐌𝐚𝐤𝐞 𝐚 𝐃𝐢𝐫𝐞𝐜𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 @ https://www.alliedmarketresearch.com/checkout-final/c6053013809ae9ef7b5e32f939c85e01

The players operating in the phycocyanin industry have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market.

📍 { 𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 }

𝟭. 𝗕𝗹𝘂𝗲𝘁𝗲𝗰 𝗡𝗮𝘁𝘂𝗿𝗮𝗹𝘀 𝗖𝗼.
𝟮. 𝗗𝗗𝗪 𝗜𝗻𝗰.
𝟯. 𝗗𝗜𝗖 𝗖𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗶𝗼𝗻
𝟰. 𝗘𝗮𝗿𝘁𝗵𝗿𝗶𝘀𝗲 𝗡𝘂𝘁𝗿𝗶𝘁𝗶𝗼𝗻𝗮𝗹𝘀 𝗟𝗟𝗖
𝟱. 𝗝𝗮𝗽𝗮𝗻 𝗔𝗹𝗴𝗮𝗲 𝗖𝗼. 𝗟𝘁𝗱.
𝟲. 𝗣𝗮𝗿𝗿𝘆 𝗡𝘂𝘁𝗿𝗮𝗰𝗲𝘂𝘁𝗶𝗰𝗮𝗹𝘀
𝟳. 𝗣𝗵𝘆𝗰𝗼-𝗕𝗶𝗼𝘁𝗲𝗰𝗵 𝗟𝗮𝗯𝗼𝗿𝗮𝘁𝗼𝗿𝗶𝗲𝘀
𝟴. 𝗤𝗶𝗻𝗴𝗱𝗮𝗼 𝗭𝗼𝗹𝗮𝗻𝗕𝗶𝗼 𝗖𝗼. 𝗟𝘁𝗱.
𝟵. 𝗦𝗶𝗴𝗺𝗮-𝗔𝗹𝗱𝗿𝗶𝗰𝗵 𝗖𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗶𝗼𝗻
𝟭𝟬. 𝗬𝘂𝗻𝗻𝗮𝗻 𝗚𝗿𝗲𝗲𝗻 𝗔 𝗕𝗶𝗼𝗹𝗼𝗴𝗶𝗰𝗮𝗹 𝗣𝗿𝗼𝗷𝗲𝗰𝘁 𝗖𝗼. 𝗟𝘁𝗱.

{ 𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 }

▶️ The phycocyanin market was valued at $155.3 million in 2020, and is estimated to reach $409.8 million by 2030, growing at a CAGR of 9.6% during the forecast period.

▶️ By form, the powder segment is estimated to witness the fastest growth, registering a CAGR of 9.4% during the forecast period.

▶️ In 2020, depending on application, the nutraceuticals segment was valued at $18.9 million, accounting for 12.2% of the global functional pet food market share.

▶️ In 2020, the U.S. was the most prominent market in North America, and is projected to reach $107.8 million by 2030, growing at a CAGR of 7.9% during the forecast period.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll-Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.