Research Nester published a report titled “Phycocyanin Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers a detailed overview of the phycocyanin market in terms of market segmentation by nature, by form, by grade, by application, and by region.
Phycocyanin is a kind of light-based protein pigment generally extracted from organic spirulina which not only offers natural food coloring but also has numerous health benefits. Growing awareness around the toxic effects of synthetic compounds has heightened the product penetration in medical, cosmetics, and nutraceuticals industries which shall further accelerate the industry growth.
The phycocyanin market is anticipated to witness an achievable high CAGR during the forecast period, i.e., 2020-2028. The market is segmented by nature, form, grade, and application. Among product form, the powder segment is projected to hold the leading market share owing to its fast break-down and great ease of digestion in comparison to other forms. Among product applications, the food & beverage segment is expected to register the leading position in the global market as a result of its wide application in the industry, escalating consumer demand as it’s a clean ingredient, increasing curiosity among the vegan population, and raising alertness about a natural lifestyle. The nutraceuticals segment in the application type is projected to grow at the fastest speed owing to several benefits particularly muscle enhancement.
Regionally, the phycocyanin market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
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North America is projected to record significantgrowth during the forecast period on account of increasing consumer consciousness about chemical-free cosmetics, which has facilitated manufacturers to focus on using colorants derived from natural sources, and this is likely to augment the product demand.
Europe is expected to dominate the global market share for phycocyanin market in the predicted forecast period owing to factors such as rising consumer preferences towards clean ingredients, stringent government policies concerning the use of synthetic ingredients in food and cosmetics, growing awareness among civilization, and demand for healthy food and beverages.
Asia Pacific is expected to witness remarkable growth in the coming years. This growth is likely to be influenced by factors such as the growing infiltration of pharmaceuticals players in the region, growing awareness, rising disposable income, growth in R&D, and prevalence of various lifestyle disorders.
The growing application of phycocyanin in diverse industries across the globe and paradigm shift towards natural ingredients will fuel the overall market growth.
Majorly the global phycocyanin market is driven by the rising demand in the food & beverage industry after being approved by the FDA, in pharmaceuticals, and cosmetics industries. It provides therapeutic effects for treating diabetes, cancer, and other cardiovascular problems which is the foremost driving factor for the market growth.
Superior health benefits of phycocyanin and non-toxic nature have enhanced its demand from numerous end-use industries which should fuel the industry growth.
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This report also provides the existing competitive scenario of some of the key players of the Phycocyanin market which includes company profiling of Japan Algae Co., Ltd, Parry Nutraceuticals, Ozone Naturals, EcoFuel Laboratories, Nan Pao International Biotech.CO., LTD., Naturex S.A., Zhejiang Binmei Biotechnology Co.,Ltd, ScotBio, Norland Biotech Co., Ltd, DIC Corporation (TYO: 4631).
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The Food Grade Phycocyanin market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the food grade phycocyanin market include DIC, Japan Algae, Parry Nutraceuticals, Ozone Naturals, EcoFuel Laboratories, Nan Pao International Biotech, King Dnarmsa Spirulina, Zhejiang Binmei Biotechnology, Wuli Lvqi, NorlandS.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Food Grade Phycocyanin Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/food-grade-phycocyanin-market/download-sampleMarket DynamicsRising demand for natural colorants and people's growing healthy lifestyle drive the global food grade phycocyanin market.
With improved living standards and attention to health issues, phycocyanin is a functional food preferred by more and more people.
The phycocyanin market is forecasted to grow at a more robust pace during the forecast period as phycocyanin is getting approval for new uses, which has opened many opportunities for this market.
