Phycocyanin Market Size

Phycocyanin Market Size

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.