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Phycocyanin Market Trends

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

Phycocyanin Market Trends

The phycocyanin industry is experiencing notable trends driven by the increasing consumer demand for natural and sustainable ingredients. One key trend is the rising use of phycocyanin in plant-based and vegan products, as it serves as a natural blue colorant and offers health benefits, aligning with the clean-label movement. Additionally, there is a growing interest in the application of phycocyanin in functional foods, beverages, and dietary supplements, owing to its antioxidant and anti-inflammatory properties. Technological advancements in extraction and purification methods are also contributing to enhanced product quality and reduced costs, making phycocyanin more accessible for various applications. Moreover, the market is witnessing expanded regulatory approvals in different regions, which is further accelerating its adoption across the food, cosmetic, and pharmaceutical industries.

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.

Phycocyanin Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 13
  • Tables & Figures: 172
  • Countries covered: 22
  • Pages: 200
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