Phycocyanin Market Size Worth USD 210.8 Million by 2025 | CAGR: 7.5%
Published Date : July 2019 | Report Code: AV335 | Report Format: PDF
The phycocyanin market is expected to grow at CAGR of 7.5% to reach USD 210.8 million by 2025.
Phycocyanin belongs to the phycobiliprotein family, formed by micro-organism group called as cyanobacteria. The pigment produced by the bacteria is further processed to develop a natural colorant known as Lina Blue, which is widely used as a natural dye in cosmetics and food industry. The chemical is characterized by a intense and deep blue color and consists of α and β subunit. Phycocyanin has a potential applications in medical field, i.e. it act as an excellent antioxidant, anti-inflammatory, anti-cancer and widely used in genetics and medicinal application.
Rising demand for cleaner products i.e. without additives or artificial components coupled with shifting preference of companies, especially MNC’s towards all natural and healthier alternatives support the industry growth. On contrary, companies do not prefer switching to this product owing to the high cost and regulatory pressure, hampering the industry growth. The product’s price and quality vary according to its purity ratio, for example, the concentration of phycocyanin with the amount of other proteins.
- In terms of product categories, the market is divided as cosmetic, food and analytical grades. Food grade is accounted for the significant revenue share, followed by cosmetic grade and analytical grade.
- Cosmetics, food & beverages and healthcare are some of the applications analysed in this research. Food and beverages is the dominating segment and cosmetic application is growing with fastest growth rate.
- The European Food Safety Authority (efsa) has completely banned artificial colorants in most of the European countries. Due to this fact, Europe emerged as one of the largest consumers of natural colorants as dyes i.e. phycocyanin products.
- Besides this, the Asia Pacific region is anticipated to grow with the fastest CAGR owing to growing consumption of this as a healthy foods
- Key manufacturers are Ozone Naturals, EcoFuel Laboratories, Parry Nutraceuticals, Fuqing King Dnarmsa Spirulina Co., Ltd, Nan Pao International Biotech, Wuli Lvqi, DIC Corporation, Tianjin Norland Biotech Co. Limited and Zhejiang Binmel Biotechnology.
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The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCT
- Lyophilized Powder
- Natural Colour Pigment
MARKET, BY EXTRACTION TYPE
- Ion-Exchange Chromatography
- Ammonium Sulphate Precipitation
- Gel Filtration Chromatography
MARKET, BY APPLICATION
- Food Industry
- Pharmaceutical Industry
- Cosmetic Industry
- Dietary Supplements
MARKET, BY REGION
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Rest of the World
- Middle East and Africa
- Latin America
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