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, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025

Published Date: Sep 2019  |  Report ID: GMI4354  |  Authors: Kunal Ahuja, Shreya Deb

Report Format: PDF   |   Pages: 335   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Phycocyanin Market size was over USD 18.5 million in 2018 and industry expects consumption at over 200 tons by 2025.
 

U.S. Organic Phycocyanin Market Size, By Application, 2018 & 2025, (Tons)

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Increasing consumer awareness towards the toxic effects of artificial colorants in food products and beverages has boosted the demand for naturally extracted colorants which is expected to drive the phycocyanin market growth. Sales of retail food & beverage stores in the U.S. amounted over USD 750 billion in 2018 which shows significant opportunities for product demand. The product is extracted from organic spirulina which not only offers natural food colouring but is also a high protein source. Increasing awareness towards the toxic effects of synthetic compounds has boosted product penetration in medical, cosmetics and nutraceuticals industries which shall further accelerate the industry growth.
 

Phycocyanin provides high levels of essential amino acids, promotes the synthesis of elastin in the body and has anti-cancer effects which are the key attributes augmenting product demand. The product forms an important part of nutraceuticals industry owing to the presence of several nutrients, antioxidants and muscle enhancing properties. Growing government initiatives towards the use of organic products and increasing innovations in the development of varieties of natural colors shall foster the market growth.
 

The production of phycocyanin is majorly dependent on several environmental factors and requires lakes, sand, ponds, clean and pure air as per the production specifications which is expected to hinder the market size. In addition, the product is extremely temperature sensitive and wide fluctuations in environmental conditions can significantly affect the quality of the product. However, superior health benefits of product and non-toxic nature has boosted its demand from various end-use industries which should stimulate the industry growth.
 

Phycocyanin Market Report Coverage
Report Coverage Details
Base Year: 2018
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Pages: 335 Tables, Charts & Figures: 489
Geographies covered (20): U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, South Korea, Thailand, Australia, Brazil, Argentina, Saudi Arabia, UAE, South Africa
Segments covered: Product, and Region
Companies covered (17): Zhejiang Binmei Biotechnology Co.,Ltd, NutraCulture, Japan Algae Co. Ltd., AlgoSource, Naturex, Wellisen, Natura, Ever, BLUETEC NATURALS Co.,, Xian Natural Field Bio-Technique Co. Ltd, Earthrise Nutritional, DIC Corporation, Parry Nutraceuticals, Pond Tech, Cyanotech Corporation, DDW The Color House, Sigma Aldrich, Tianjin Norland Biotech Co. Ltd.

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Key Product Trends

Global organic phycocyanin market size may witness gains over at 8.5% during the forecast time period. Growing consumer inclination towards the adoption of natural colors in cosmetics, food products and supplements applications pertaining to their cost effectiveness and health benefits is expected to stimulate market share. The product fights against various diseases, provides protection & vitality to the body and detoxifies overall health of an individual, thereby stimulating product demand.
 

Global organic phycocyanin market size from pharmaceutical applications is likely to exceed USD 1.5 million during the projected timeframe on account of increasing popularity of the product for its several potential health benefits. It offers therapeutic effects for treating diabetes, cancer and other cardiovascular problems which is the major driving factor of the market. It is extensively utilized in medicines and genetics owing to its natural fluorescence and unique stability under high temperature. Increasing consumer spending on natural products pertaining to their environment friendly nature is expected to boost industry demand.
 

Global conventional phycocyanin market size from cosmetics application may register gains close to 7.5% by 2025 pertaining to the increasing consumer focus on personal care and cosmetic products. These natural colorants offer anti-inflammatory & antioxidant qualities, have high moisturizing & nourishing effects on the skin and do not have any stimulatory effect on human skin which shall drive the market growth. Improvement in the texture of the cosmetics using natural pigments & colors along with growing awareness among consumers for cosmetics which help prevent the possibility of infection combined with skin enhancing properties has significantly boosted the product demand from industry.
 

Global conventional phycocyanin industry size from drinks is expected to record gains of about 8% during the forecast timespan pertaining to the growing consumer preference towards ready to drink beverages. These natural colourants are non-toxic and non-carcinogenic which makes them suitable for colouring soft drinks. The product offers superior oxidation resistance, enhances body immunity and helps in providing optimal health development & growth which is likely to have a positive impact on the market growth. Changing lifestyle patterns and growing preference towards protein enhanced drinks shall further drive the market size.
 

Powder form breaks down quickly and offers high ease of digestion in comparison to other forms. The form allows effective nutrient delivery, offers high flexibility with dosing and are economically feasible which is likely to have a major impact on the market growth.
 

Regional Insights

North America, driven by Canada, Mexico, and the U.S. phycocyanin market size may record gains of about 8.5% in the projected timeperiod pertaining to the robust growth in personal care & skin industry in the region. Growing consumer inclination towards the use of natural colorants in cosmetics owing to their high quality & eco-friendly nature has urged manufacturers to develop organic cosmetics which is the key driving factor of the market. Rising standards of living and increasing consumer interest in chemical-free cosmetics has enabled manufacturers to focus on using colorants derived from natural sources which is likely to augment the product demand.
 

Europe market demand driven by Germany, UK, France, Italy and Spain should exceed USD 14 million by 2025 owing to the huge demand for healthy food & beverages in the region. Increasing food safety concerns and stringent government regulations have triggered the adoption of natural ingredients in food products which are the key attributes for product demand. Growing consumer preference towards clean label products owing to rising awareness towards the use of synthetic ingredients may further boost regional growth.
 

Asia Pacific phycocyanin market size, driven by China, India, Japan, and South Korea may register gains of about 8% during the projected timeframe owing to the increasing penetration of pharmaceutical industry in the region. Significant growth in research & development activities and favourable government support have enabled the use of product in therapeutic drugs owing to its anti-cancer and immune enhancement function. Growing prevalance of several lifestyle diseases and increasing consumer expenditure on healthcare is likely to induce the regional growth.


Competitive Market Share

Global phycocyanin market share is consolidated among various market participants such as Earthrise Nutritional, Zhejiang Binmei Biotechnology, Parry Nutraceuticals and Pond Tech. Major manufacturers are focused on improving strategic partnerships & collaborations and developing new product line to improve their product offerings and attract new customers.
 

Industry Background

It is a blue pigment that is important to support healthy inflammatory response and has many antioxidant effects. The product reduces effects from the body’s inflammatory actions and has the ability to inhibit the key enzyme which is responsible for inflammation and discomfort. It is rich in several vitamins and essential nutrients which has increased its usage in food products, soft drinks, medicines and cosmetics.
 


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