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Phycocyanin Market Share

Report ID: GMI4354
Published Date: Aug 2024
Report Format: PDF

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Phycocyanin Market Share

The phycocyanin industry is dominated by several key players, each contributing to the industry's growth through innovation, product diversification, and strategic partnerships. Companies like Cyanotech Corp, DDW Inc., and DIC Corporation are recognized for their leadership in producing high-quality phycocyanin, leveraging advanced extraction techniques and a strong commitment to sustainability. Cyanotech Corp is particularly noted for its expertise in microalgae cultivation, while DDW Inc. focuses on natural color solutions, catering to the growing demand for clean-label ingredients. DIC Corporation, a global leader in the chemicals industry, also plays a significant role in the market through its subsidiary Earthrise Nutritionals, which specializes in spirulina production.

Other notable players include Dongtai City Spirulina Bio-Engineering Co., Ltd. and Fuqing King Dnarmsa Spirulina Co., Ltd., both of which are key suppliers of spirulina-derived products in China, a major hub for phycocyanin production. GNT Holding B.V. and Sensient Technologies Corp. are well-established in the global market, providing natural colorants to a wide range of industries, including food and beverage, cosmetics, and pharmaceuticals. Parry Nutraceuticals Limited and Döhler GmbH are also prominent in the market, known for their focus on innovation and high-quality product offerings. Additionally, companies like Naturex S.A., Naturalin Bio-Resources Co., Ltd., Far East Bio-Tec Co., Ltd., and Fraken Biochem Co., Ltd. are contributing to the market's expansion through their expertise in natural ingredients and bioactive compounds, ensuring a steady supply of phycocyanin to meet the growing global demand.

Phycocyanin Market Companies

Top companies operating in the industry include:

Cyanotech Corp
DDW Inc.
DIC Corporation
Dongtai City Spirulina Bio-Engineering Co., Ltd.
Fuqing King Dnarmsa Spirulina Co., Ltd.
GNT Holding B.V.
Sensient Technologies Corp.
Parry Nutraceuticals Limited
Döhler GmbH
Naturex S.A.
Naturalin Bio-Resources Co., Ltd
Far East Bio-Tec Co., Ltd.
Fraken Biochem Co., Ltd.

Authors: Kiran Pulidindi , Kunal Ahuja

Frequently Asked Questions (FAQ) :

Global market size for phycocyanin achieved USD 2 billion in 2023 and will grow at a 6.5% CAGR from 2024 to 2032 as it provides high levels of essential amino acids, promotes the synthesis of elastin in the body and has anti-cancer effects.

The conventional phycocyanin market is projected to witness 6.4% CAGR through 2032, driven by increasing demand for natural colorants in the food and beverage sector, coupled with the rising consumer preference for clean-label and plant-based products.

Asia Pacific market size reached USD 200 million in 2023, largely driven by the increasing health consciousness among consumers, who are now more inclined towards clean-label and sustainably sourced products.

Cyanotech Corp, DDW Inc., DIC Corporation, Dongtai City Spirulina Bio-Engineering Co., Ltd., Fuqing King Dnarmsa Spirulina Co., Ltd., and GNT Holding B.V., among others.