Phycocyanin Market Size, Share and industry Analysis report 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]}), Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025

Industry Overview

Phycocyanin Market size was over USD 18.5 million in 2018 and  expects consumption at over 200 tons by 2025 owing to  increasing consumer awareness towards the toxic effects of artificial colorants in food products and beverages, which has boosted the demand for naturally extracted colorants.

Sales of retail food & beverage stores in the U.S. amounted over USD 750 billion in 2018 which shows significant opportunities for product demand. Increasing awareness towards the toxic effects of synthetic compounds has boosted product penetration in medical, cosmetics and nutraceuticals industries which shall further accelerate the phycocyanin market share.

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Phycocyanin provides high levels of essential amino acids, promotes the synthesis of elastin in the body and has anti-cancer effects. 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 phycocyanin 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. 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.

Market, By Product

Global organic phycocyanin market size may witness gains over at 8.5% through 2025 owing to the growing consumer inclination towards the adoption of natural colors in cosmetics, food products and supplements applications pertaining to their cost effectiveness and health benefits. The product fights against various diseases, provides protection & vitality to the body and detoxifies overall health of an individual.

Global organic phycocyanin from pharmaceutical applications is likely to exceed USD 1.5 million by 2025 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. 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 the phycocyanin market revenue.

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Global conventional phycocyanin market from cosmetics application may register gains close to 7.5% through 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 the human skin. 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.
 

Global conventional phycocyanin industry 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 colorants are non-toxic and non-carcinogenic which makes them suitable for coloring soft drinks. The product offers superior oxidation resistance, enhances body immunity and helps in providing optimal health development & growth. Changing lifestyle patterns and growing preference towards protein enhanced drinks shall further drive the phycocyanin market sales.
 

Regional Insights

North America, driven by Canada, Mexico, and the U.S. may record gains of about 8.5% through 2025 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. Rising standards of living and increasing consumer interest in chemical-free cosmetics has enabled manufacturers to focus on using colorants derived from natural sources.
 

Europe market 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. Growing consumer preference towards clean label products owing to rising awareness towards the use of synthetic ingredients may further boost the phycocyanin market growth.
 

Asia Pacific phycocyanin market 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 favorable government support have enabled the use of product in therapeutic drugs owing to its anti-cancer and immune enhancement function. Growing prevalence of several lifestyle diseases and increasing consumer expenditure on healthcare is likely to induce the regional growth.
 

Competitive Market Share

Global phycocyanin industry 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

Phycocyanin 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.
 

Phycocyanin market report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in Tons and revenue in USD from 2019 to 2025, for the following segments:

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Phycocyanin Market, By Product

• Organic
  • By Form
    • Powder
    • Liquid
  • By Application
    • Food & Beverages
      • Confectionary
      • Bakery
      • Dairy Products
      • Drinks
      • Others
    • Medicines/Pharmaceutical
    • Nutraceutical
    • Cosmetics
    • Biotechnology
• Conventional
  • By Form
    • Powder
    • Liquid
  • By Application
    • Food & Beverages
      • Confectionary
      • Bakery
      • Dairy Products
      • Drinks
      • Others
    • Medicines/Pharmaceutical
    • Nutraceutical
    • Cosmetics
    • Biotechnology

The above information is provided on a regional and country basis for the following:

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Thailand
• LATAM
  • Brazil
  • Argentina
• MEA
  • UAE
  • Saudi Arabia
  • South Africa