Phycocyanin Market to Reach $409.8 Million by 2030, Driven by Rising Demand for Natural Food Colors and Health Benefits

Phycocyanin, known for its therapeutic efficacies, such as its anticancer properties, free radical scavenging activity.

WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATES, May 2, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled Global Phycocyanin Market by Form, Grade and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,

The global phycocyanin market size is expected to reach $409.8 million by 2030, at a CAGR of 9.6% from 2021 to 2030.

𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐆𝐫𝐚𝐩𝐡𝐬 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬 @ https://www.alliedmarketresearch.com/request-sample/A12344

Phycocyanin belongs to the light-harvesting phycobiliprotein family. It is found in Cryptophyceae, cyanobacteria, and Rhodophyceae, and according to the species, it is called as C-PC and R-PC. It has been gaining major popularity in medical and biotechnology fields as C-phycocyanin isolated from S. platensis has many therapeutic efficacies, such as anticancer properties, free radical scavenging activity, and antioxidant and anti-inflammatory properties.

North America and Europe are critically banning use of synthetic colors in food & beverages owing to its health hazards, including hyperactivity in children and skin allergies. For instance, European Food Safety Authority, the regulatory agency of EU countries, has banned the utilization of synthetic color for food safety in the products that are consumed in EU countries, which subsequently promotes the growth of natural color market, thus indirectly boosting the demand for phycocyanin during the forecast period.

During COVID-19 pandemic, people highly preferred to consume natural and organic functional, nutritional and dietary food and supplements in order to increase their immune system, which fueled the demand for natural coloring agents, organic ingredients, and food additives. Thus, growing demand for high-nutrition nutritional food with organic and natural ingredients, additivesand coloring agents have accelerated the growth of the phycocyanin market during the pandemic and is expected to sustain its popularity after pandemic.

The phycocyanin market is segmented on the basis of form, grade, application, and region. On the basis of form, the market is categorized into powder and liquid. On the basis of grade, the market is divided into food grade, pharma grade and reagent & analytical grade. By application, it is segregated into food & beverages, pharmaceuticals, cosmetics, nutraceuticals and others. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, the Netherlands, and rest of Europe), Asia-Pacific (China, Japan, Australia, South Korea, India, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, Saudi Arabia, Turkey, and rest of LAMEA).

According to the phycocyanin market trends, on the basis of form, the liquid segment was valued at $11.8 million in 2020 and is projected to reach $39.0 million by 2030, registering a CAGR of 12.1% from 2021 to 2030. Liquid phycocyanin has been gaining significant traction among end users as liquid phycocyanin is more concentrated than powder so food & beverages manufacturing companies need liquid phycocyanin in lesser quantity.

On the basis of grade, the reagent & analytical grade segment is estimated to reach $14.8 million by 2030, at a CAGR of 10.1%. The grades of the phycocyanin are based on the purity of the phycocyanin and on the basis of purity, it is used in various applications such as pharmaceutical, biomedical, and food & beverage. C-PC purity is defined as the ratio between the absorbances at 620 nm and 280 nm; when this ratio is ≥ 0.7, C-PC is considered to be of food grade purity and when ≥ 4.0, it is considered to be of analytical grade purity. Analytical-grade phycocyanin is used for pharmaceutical and nutraceutical applications as it is a nontoxic and non-carcinogenic natural coloring agent.

As per application, the cosmetic segment is estimated to reach $32.7 million by 2030, growing at a CAGR of 10.9%. Phycocyanin has been gaining considerable popularity in the cosmetic and personal care industries due to its free radical scavenging and anti-inflammatory properties. Growth in demand for premium cosmetic products and greater acceptance of organic and natural ingredient-based cosmetic products are likely to surge the growth of phycocyanin in the cosmetic segment. For instance, Kunye’s Nourish Face Mask has gained major popularity among health-conscious customers. Nourish Face Mask is an organic face mask that combines formula such as phycocyanin, wheatgrass, neem, sea kelp, and Canadian bentonite Clay.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐃𝐚𝐭𝐚 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 @ https://www.alliedmarketresearch.com/purchase-enquiry/A12344

Region-wise, Europe has been gaining considerable traction in the phycocyanin market and is expected to grow at a significant CAGR during the forecast period. EFSA, the regulatory agency of EU countries for food safety, has banned the use of synthetic colors in the products consumed in EU countries, which is expected to boost the growth of the natural color market. Changes in consumer preferences toward nutritious and healthy products is the new trend for which companies are launching innovative products to supplement the demands of modern society. Thus, growing demand for organic and natural food color and high inclination toward nutritious foods products are expected to accelerate the growth of the European phycocyanin market during the forecast period.

𝐓𝐡𝐞 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐨𝐩𝐞𝐫𝐚𝐭𝐢𝐧𝐠 𝐢𝐧 𝐭𝐡𝐞 𝐩𝐡𝐲𝐜𝐨𝐜𝐲𝐚𝐧𝐢𝐧 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐡𝐚𝐯𝐞 𝐚𝐝𝐨𝐩𝐭𝐞𝐝 𝐩𝐫𝐨𝐝𝐮𝐜𝐭 𝐥𝐚𝐮𝐧𝐜𝐡 𝐚𝐧𝐝 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐞𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧 𝐚𝐬 𝐭𝐡𝐞𝐢𝐫 𝐤𝐞𝐲 𝐝𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐚𝐥 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬 𝐭𝐨 𝐞𝐱𝐩𝐚𝐧𝐝 𝐭𝐡𝐞𝐢𝐫 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐡𝐚𝐫𝐞, 𝐢𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐩𝐫𝐨𝐟𝐢𝐭𝐚𝐛𝐢𝐥𝐢𝐭𝐲, 𝐚𝐧𝐝 𝐫𝐞𝐦𝐚𝐢𝐧 𝐜𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐢𝐧 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭.

⁕ 𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

→ 𝐁𝐥𝐮𝐞𝐭𝐞𝐜 𝐍𝐚𝐭𝐮𝐫𝐚𝐥𝐬 𝐂𝐨.
→ 𝐃𝐃𝐖 𝐈𝐧𝐜.
→ 𝐃𝐈𝐂 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧
→ 𝐄𝐚𝐫𝐭𝐡𝐫𝐢𝐬𝐞 𝐍𝐮𝐭𝐫𝐢𝐭𝐢𝐨𝐧𝐚𝐥𝐬 𝐋𝐋𝐂
→ 𝐉𝐚𝐩𝐚𝐧 𝐀𝐥𝐠𝐚𝐞 𝐂𝐨. 𝐋𝐭𝐝.
→ 𝐏𝐚𝐫𝐫𝐲 𝐍𝐮𝐭𝐫𝐚𝐜𝐞𝐮𝐭𝐢𝐜𝐚𝐥𝐬
→ 𝐏𝐡𝐲𝐜𝐨-𝐁𝐢𝐨𝐭𝐞𝐜𝐡 𝐋𝐚𝐛𝐨𝐫𝐚𝐭𝐨𝐫𝐢𝐞𝐬
→ 𝐐𝐢𝐧𝐠𝐝𝐚𝐨 𝐙𝐨𝐥𝐚𝐧𝐁𝐢𝐨 𝐂𝐨. 𝐋𝐭𝐝.
→ 𝐒𝐢𝐠𝐦𝐚-𝐀𝐥𝐝𝐫𝐢𝐜𝐡 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧
→ 𝐘𝐮𝐧𝐧𝐚𝐧 𝐆𝐫𝐞𝐞𝐧 𝐀 𝐁𝐢𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥 𝐏𝐫𝐨𝐣𝐞𝐜𝐭 𝐂𝐨. 𝐋𝐭𝐝.

𝐆𝐞𝐭 𝐘𝐨𝐮𝐫 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 @ https://www.alliedmarketresearch.com/request-for-customization/A12344

⁕ 𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲

The phycocyanin market was valued at $155.3 million in 2020 and is estimated to reach $409.8 million by 2030, growing at a CAGR of 9.6% during the forecast period.

By form, the powder segment is estimated to witness the fastest growth, registering a CAGR of 9.4% during the forecast period.

In 2020, depending on application, the nutraceuticals segment was valued at $18.9 million, accounting for 12.2% of the global functional pet food market share.

In 2020, the U.S. was the most prominent market in North America and is projected to reach $107.8 million by 2030, growing at a CAGR of 7.9% during the forecast period.

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