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Phycocyanin Market Expected to Reach US$ 333 Mn by 2032 - Persistence Market Research

04-09-2025 08:27 AM CET | Food & Beverage

Press release from: Persistence Market Research

Phycocyanin Market Expected to Reach US$ 333 Mn by 2032 -

The global phycocyanin market has emerged as a fast-growing segment within the broader spirulina and natural colorant industry, driven by a surging demand for natural, plant-based, and health-enhancing ingredients. As of 2022, the global market value for phycocyanin stands at approximately US$ 168.8 million, and it is projected to grow at a compound annual growth rate (CAGR) of 7%, reaching US$ 333 million by 2032. This remarkable expansion is attributed to its widespread application across food & beverages, nutraceuticals, cosmetics, and personal care products, along with growing consumer preference for clean-label and vegan-friendly products.

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One of the most significant growth drivers in the market is the increasing shift toward natural food additives, especially natural colorants like phycocyanin. The food and beverages segment leads in terms of end use, accounting for over 69.6% of the market in 2022, valued at around US$ 117.5 million. Geographically, North America dominates the global phycocyanin landscape, with the U.S. alone capturing 87.3% of the North American market. The region's dominance is supported by FDA approvals, robust production infrastructure, and heightened awareness about natural, nutrient-rich ingredients.

Key Highlights from the Phycocyanin Market Report:

➤ The phycocyanin market is expected to reach US$ 333 Mn by 2032, growing at a CAGR of 7%.
➤ Powdered phycocyanin holds 80.6% of the total volume share and continues to be the dominant form.
➤ Over 69.6% of phycocyanin demand stems from the food and beverage sector.
➤ The U.S. leads the North American market, accounting for 87.3% of the regional share.
➤ Conventional phycocyanin holds a value share of over 91.7% in 2022.
➤ Brazil and Mexico are emerging as key markets in Latin America, with CAGRs of 6.5% and 6.2%, respectively.

Market Segmentation Insights

The phycocyanin market is broadly segmented based on nature, form, and end use. On the basis of form, phycocyanin is available in powder and liquid formats. Powdered phycocyanin dominates the market with a significant 80.6% volume share, attributed to its versatility, stability, and ease of transport and storage.

In terms of nature, conventional phycocyanin commands the lion's share of the market-over 91.7% in 2022-primarily due to cost-effectiveness and easier sourcing compared to organic variants.

When it comes to end use, phycocyanin finds application across multiple industries. Food and beverages stand out as the most dominant end-use category, contributing nearly US$ 117.5 million in value, followed by nutraceuticals, cosmetics and personal care, and animal feed. This diversified use further highlights the versatility and nutritional appeal of phycocyanin.

Regional Insights

North America leads the global phycocyanin market, with the U.S. and Canada spearheading growth. The U.S., valued at US$ 50.16 Mn, accounts for the bulk of consumption due to regulatory approvals and strong demand for natural ingredients. Canada is also showing a healthy CAGR of 7.3%, indicating a rising trend toward wellness and plant-based products.

In Latin America, countries like Brazil and Mexico are gaining momentum. Brazil is forecasted to register a 6.5% CAGR, while Mexico follows closely with 6.2%, driven by increasing awareness of clean-label ingredients and dietary supplements.

In Asia, despite being major producers, countries such as India and China face challenges due to environmental pollution, which affects the quality of spirulina and phycocyanin. Meanwhile, Europe remains cautious about imports due to these concerns but is seeing increasing interest in organic and high-quality variants.

Market Drivers

One of the primary growth drivers is the increasing application of phycocyanin in food and beverages, where it acts as a natural blue coloring agent. Products such as yogurts, ice creams, beverages, and confectioneries are witnessing a surge in demand for plant-based colorants. Furthermore, growing consumer awareness about the health benefits of phycocyanin-such as improved immunity, anti-inflammatory properties, and antioxidant capacity-is contributing to its demand across the nutraceutical sector.

In addition, regulatory support-especially from the U.S. FDA and other global food safety agencies-has encouraged manufacturers to replace synthetic dyes with natural alternatives. The global push for sustainability and clean-label products has compelled manufacturers to innovate and invest in natural ingredients, giving a further boost to phycocyanin adoption.

Market Restraints

Despite its promising growth, the phycocyanin market faces significant restraints. Environmental pollution in key producing countries such as India and China poses a serious challenge. Contaminants like arsenic, lead, and other heavy metals found in water bodies used for cultivating spirulina affect the quality and safety of the end product. This leads to supply chain disruptions and import restrictions, particularly from European countries with stringent food safety standards.

Additionally, climate-related challenges such as floods, droughts, and inconsistent weather conditions negatively impact spirulina cultivation. For instance, tornadoes in China in 2014 led to major losses in spirulina supply, which adversely affected the global phycocyanin market.

Market Opportunities

The rising demand for natural food colorants in emerging economies like India, Brazil, and Southeast Asian nations presents untapped growth opportunities. These regions are witnessing a lifestyle shift toward organic and vegan diets, which could drive the adoption of phycocyanin as a safe, plant-based ingredient.

Moreover, increasing investment in research and development for product innovation-such as fortified beverages, plant-based supplements, and natural cosmetics-is anticipated to create new avenues for market players. Additionally, the emergence of new market entrants in developing regions is likely to boost competition and improve product affordability and availability.

Frequently Asked Questions (FAQs):

◆ How Big is the Phycocyanin Market?
◆ What is the Projected Growth Rate of the Phycocyanin Market?
◆ Who are the Key Players in the Global Phycocyanin Market?
◆ What is the Market Forecast for Phycocyanin for 2032?
◆ Which Region is Estimated to Dominate the Phycocyanin Industry through the Forecast Period?

Company Insights

• Cyanotech Corporation
• DDW Inc.
• DIC Corporation
• C.B.N. Bio-engineering Co., Ltd
• Fuqing King Dnarmsa Spirulina Co., Ltd
• Fraken Biochem Co., Ltd.
• Japan Algae Co., Ltd.
• Parry Nutraceuticals
• Chr. Hansen Holding A/S
• Naturex S.A.
• Far East Bio-Tec Co., Ltd.
• NutraCulture
• Merck KGaA
• Tianjin Norland Biotech Co., Ltd
• Bluetec Naturals Co., Ltd
• Wellisen Nutraceuticals Pvt. Ltd.
• Sensient Technologies Corporation
• GNT Group B.V.

Contact Us:
Persistence Market Research
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Brentford, London, TW8 0GU UK
USA Phone: +1 646-878-6329
UK Phone: +44 203-837-5656
Email: sales@persistencemarketresearch.com
Web: https://www.persistencemarketresearch.com

About Persistence Market Research:
At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 25.92, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.

Our approach combines traditional market research methods with modern tools to offer comprehensive research solutions. With a decade of experience, we pride ourselves on deriving actionable insights from data to help businesses stay ahead of the competition. Our client base spans multinational corporations, leading consulting firms, investment funds, and government departments. A significant portion of our sales comes from repeat clients, a testament to the value and trust we've built over the years.

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