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Phycocyanin Market size to exceed $30mn by 2025
Published Date: September 20, 2019According to a new research report by Global Market Insights Inc., the Phycocyanin Market size is set to surpass USD 30 million by 2025 owing to the rising inclination towards natural and clean label colors owing to increasing government regulations on synthetic extracts has significantly fueled the demand for natural additives in several industries.
The phycocyanin is widely used in the treatment of skin pigment disorders due to its moisture management and pigmentation reducing qualities. Increasing preference towards natural alternatives relating to their high nutritional value and minimal environmental impact should foster the market growth.
Conventional phycocyanin supports and maintains muscle & joint health, enhances skin nourishing properties and promotes natural immune response. The product is extensively served in various industries including cosmetics, food & beverages, and nutraceuticals due to its high protein content and extremely low environmental footprint. It provides adequate levels of micronutrients which help in supporting healthy energy levels and inhibits the production of tumor cells which has further increased its penetration in pharmaceutical industry.
U.S. conventional phycocyanin market growth from pharmaceutical may witness significant gains over 8.5% up to 2025 owing to the increasing consumer spending on healthcare treatments. Growing research and development activities have enabled the production of naturally derived ingredients for use in medicinal drugs which shows huge opportunities for product demand. Rising affordability of therapeutic medicines and increasing government initiatives to promote healthcare industry may induce the market growth.
Rising incidences of chronic illnesses such as cancer, diabetes and other diseases have boosted innovations in biotechnological products for treatment and diagnosis which should accelerate the product demand. The product is considered a healthy ingredient on account of its high stability and antioxidant properties. Growing technological advancements and escalating chronic diseases have propelled the demand for new drug development using naturally extracted products which shall drive the product demand from biotechnology industry.
Browse key industry insights spread across 335 pages with 462 market data tables and 27 figures & charts from the report, “Phycocyanin Market Size By Product (Organic {By Form [Powder, Liquid], By Application [Food & Beverages (Confectionary, Bakery, Dairy Products, Drinks), Medicines/Pharmaceutical, Nutraceuticals, Cosmetics, Biotechnology]}, Conventional {By Form [Powder, Liquid], By Application [Food & Beverages (Confectionary, Bakery, Dairy Products, Drinks), Medicines/Pharmaceutical, Nutraceuticals, Cosmetics, Biotechnology]}), Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2019 - 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/phycocyanin-market
Germany organic phycocyanin market demand may witness significant growth at over 9% up to 2025 on account of growing demand for organic products from food & beverages industry. Increasing consumer consciousness regarding organic pigments & ingredients benefits has enabled the incorporation of product in several food items such as bakery, confectionary and dairy products. Rising number of consumers spending on completely organic products and growing consumer consciousness towards health benefits of natural extracts shall further boost the market growth.
China conventional phycocyanin market demand from nutraceuticals is expected to account over 9% during the projected time period on account of the growing demand for dietary supplements in the country. Growing focus on preventive healthcare treatment has boosted the demand for nutraceuticals containing products & supplements which shows favorable circumstances for product demand. Increasing preference towards high quality and protein enhanced ingredients to enhance health & wellness of individual shall further propel the product demand.
Sigma Aldrich, Norland Biotech, Pond Tech and Welisen are the key industrial participants in the phycocyanin market. Companies are focusing to expand their business by strategic collaborations with focus on R&D to enhance the product portfolio.