Global Phycocyanin Market Forecast to 2030: High Potential of Phycocyanin in Pharmaceutical Applications Presents Opportunities – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Phycocyanin Market by Form, Grade, Application, Geography – Global Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.

This report provides an in-depth analysis of the phycocyanin market in five major geographies and emphasizes on the current market trends, market size, market shares, recent developments, and forecasts to 2030.

In terms of value, the phycocyanin market is projected to reach $279.6 million by 2030, at a CAGR of 28.1% during the forecast period 2023-2030. In terms of volume, this market is projected to reach 3,587.2 tons by 2030, at a CAGR of 33.8% from 2023 to 2030.

The growth of this market is driven by the increasing adoption of phycocyanin for nutraceutical & nutritional applications, the reluctance toward the use of synthetic colors, the rising demand for natural blue colorants, and increasing venture investments in phycocyanin production.

Additionally, the high potential of phycocyanin in pharmaceutical applications and the increasing consumer awareness regarding clean-label products are further expected to provide growth opportunities for the players operating in the global phycocyanin market. However, the high prices of natural colorants, high costs of extracting and purifying phycocyanin, and complexities in algae production restrain the growth of this market.

Scope of the Report:

by Form

• Phycocyanin Powder
• Liquid Phycocyanin

by Grade

• Food-Grade Phycocyanin
• Cosmetic-Grade Phycocyanin
• Reagent- & Analytical-Grade Phycocyanin

by Application

• Food & Beverages
• Pharmaceuticals & Nutraceuticals
• Cosmetics
• Diagnostics & Biomedical

Key Questions Answered in the Report:

• Which are the high-growth market segments in terms of form, grade, application, and region/country?
• What was the historical market size for phycocyanin across the globe?
• What are the market forecasts and estimates for 2023-2030?
• What are the major drivers, restraints, and opportunities in the phycocyanin market?
• Who are the major players in the phycocyanin market?
• How is the competitive landscape, and who are the market leaders in the phycocyanin market?
• What are the recent developments in the phycocyanin market?
• What are the geographical trends and high-growth regions/countries?
• Who are the local emerging players in the phycocyanin market, and how do they compete with the global players?

Market Insights

Drivers

• Increasing Adoption of Phycocyanin for Nutraceutical & Nutritional Applications
• Reluctance Toward the Use of Synthetic Colors
• Rising Demand for Natural Blue Colorants
• Increasing Venture Investments in Phycocyanin Production

Restraints

• High Prices of Natural Colorants
• High Costs of Extracting and Purifying Phycocyanin
• Complexities in Algae Production

Opportunities

• High Potential of Phycocyanin in Pharmaceutical Applications
• Increasing Consumer Awareness Regarding Clean-label Products

Companies Mentioned

• AlgoSource (France)
• Bluetec Naturals Co. Ltd (China)
• DIC Corporation (Japan)
• E.I.D. – Parry (India) Limited (India)
• Fuqing King Dnarmsa Spirulina Co. Ltd. (China)
• Givaudan SA (Switzerland)
• GNT Group B.V. (Netherlands)
• Hangzhou OuQi Food co. Ltd. (China)
• Inner Mongolia Rejuve Biotech Co. Ltd. (China)
• Japan Algae Co. Ltd. (Japan)
• Jiangshan Comp Spirulina Co. Ltd (China)
• Merck KGaA (Germany)
• Phyco-Biotech Laboratories (France)
• Pond Technologies Inc. (Canada)
• Qingdao Haizhijiao Biotechnology Co. Ltd (China)
• Qingdao ZolanBio Co. Ltd. (China)
• Sensient Technologies Corporation (U.S.)
• SPIFORM (France)
• Wellisen Nutraceuticals (U.S.)
• Xi’an Fengzu Biological Technology Co. Ltd. (FZBIOTECH) (China)
• Yunnan Green A Biological Project Co. Ltd. (China)
• Zhejiang Binmei Biotechnology Co. Ltd (China).

For more information about this report visit https://www.researchandmarkets.com/r/j21neg

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