Demand for Phycocyanin to Soar, as an Attractive Color Variant with Superior Properties
Manufacturers are channelizing efforts on production of phycocyanin from Spirulina to gain better market share in this segment. Phycocyanin has been approved by FDA for usage in food and beverages since 2013 and in the last few years, many companies have started producing phycocyanin due to its growing demand. Companies have also started launching new and innovative colors which can propel the market to newer heights.
Phycocyanin from Spirulina became the most attractive color globally owing to its features and texture and is primarily used in the food and beverage industry. European Food Safety Authority (EFSA), the regulatory agency of EU countries for food safety has banned the use of synthetic color in food products consumed in EU countries. This has boosted the demand for phycocyanin.
Growing Consumption in Cosmetics and Animal Feed Segments to Bolster Phycocyanin Demand
Phycocyanin, being a natural ingredient is seeing immense traction owing to its myriad applications. Phycocyanin from Spirulina has found application in animal feed, pet food and fish food since animals and pets can easily digest phycocyanin and don’t get allergies or medical problems after consuming it. Phycocyanin from Spirulina, rich in protein, vitamin and minerals has been used as fish feed for many decades. This also reduces the cost of production of fish at a commercial scale owing to increased commercial production of Spirulina and phycocyanin for animal feed.
Phycocyanin from Spirulina possesses anti-oxidants, hypolipidemic and anti-inflammatory properties owing to which it is witnessing high demand growth among food, beverage and cosmetics industries. Phycocyanin from Spirulina consists of numerous vitamins, Beta-carotene and antioxidants which are expected to push the demand of phycocyanin in the near future.
Emerging Markets from Asia to Exhibit Potential Growth
Phycocyanin is used in applications such as food coloring, clothing, pharmaceutical, cosmetics, paint additives, paper industry, and cancer research in many countries such as China and India. Moreover, the government of many countries such as India, Angola and Ghana are actively supporting the local spirulina market and building a strong gateway for the development of this super-food which can change the course of the food industry. The increased production of Spirulina has resulted in increased production of phycocyanin. Due to high nutritional content of phycocyanin, many countries have identified it as an economical solution to nutritional deficiencies which support the growth of phycocyanin market. Collectively, both Europe and North America capture the largest share in the market. However, APEJ will exhibit a steady growth trajectory in the phycocyanin market over the forecast period.
Capacity Expansions Emerging as Sweet Spot for Key Players in Phycocyanin Market
Tier 1 phycocyanin market players such as Chr. Hansen Holding A/S, DDW Inc., DIC Corporation, etc, have been expanding their footprint in the potential markets such as India and China. In 2018, DIC announced major expansion of its production capacity for Linablue, a natural blue food coloring which is a phycocyanin variant from Spirulina. This move of the company is expected to solidify its position as global leader in phycocyanin market. Consumer concerns for food safety and security is rising. According to DIC, the global market for natural blue food coloring will grow at 50% annually from 2018 till 2020 which is projected to boost the growth of phycocyanin market.
Phycocyanin market is anticipated to witness a notable upsurge during the forecast period 2019 to 2028, conferring to a new Fact.MR study. The study promotes crucial trends that are presently determining the growth of phycocyanin market. This newly published and perceptive report sheds light on vital dynamics, which are likely to convert the future of phycocyanin market, in turn generating worthwhile opportunities for key companies as well as evolving players who are interested in the production of phycocyanin.
Phycocyanin market study is a detailed market intellect on key revenue progression factors, challenges, industry trends, and opportunities, which will eventually influence the growth of phycocyanin market. The report primarily conveys a summary of phycocyanin market, considering present and upcoming nutritional supplement industry scenarios, to reveal striking sides relating to the acceptance of phycocyanin across prominent regional markets.
A detailed assessment on few of phycocyanin producers and suppliers accessible in the report allows the report readers to obtain detailed findings that have resulted from phycocyanin supply chain analysis, business execution, and value chain analysis across the regional markets incorporated in the report. A list of prominent companies functioning in phycocyanin market provided in the report enhances reliability of this ample research study.
Phycocyanin Market: Report Summary and Scope
The study offers a comprehensive overview on diverse features that are inducing demand, revenue generation and sales in phycocyanin market across the globe.
A comprehensive estimate on phycocyanin market has also been made accessible by the experts, who have considered the market estimates on the basis of a likely scenario, an optimistic scenario, and a conservative scenario regarding sales of phycocyanin during the forecast period. Analysis and estimation of price point comparison by region and by nature with the global average price has been included in this study.
Phycocyanin Market: Segmentation
FactMR’s study has done the segmentation of phycocyanin market on the basis of nature, form, application and region.
Asia Pacific Excluding Japan (APEJ)
Middle East and Africa (MEA)
Phycocyanin Market: Analysis on Market Size Evaluation
Predictions of phycocyanin market, encompassing current as well as forthcoming projected values estimate and analysis on region-wise demand trends and price index have been assimilated in the report.
Market estimates at the regional and global scale for phycocyanin are available in terms of “US$ Mn.” A Y-o-Y growth contrast on prominent phycocyanin market segments, along with the market attractiveness valuation computes understandings brought in the report. Metrics mentioned above are also followed based on phycocyanin applications where phycocyanin witnesses a steady demand.
Phycocyanin Market: Scrutinized Assessment on Regional Segments
Weighted sections have been elaborated in the report on phycocyanin market, which delivers projection on the regional markets. These chapters brighten the regional macros (political, economic, and business environment outlook), which are expected to have a significant impact on the growth of phycocyanin market during period of forecast.
Country-specific valuation on demand for phycocyanin has been offered for each regional market, along with the market scope estimate and forecast, price index, price point assessment, and impact analysis of dynamics of prominent regions and countries. For all regional markets Y-o-Y growth estimates have also been incorporated in the report.
Phycocyanin Market: In-depth Analysis on Competitive Landscape
The report ends with a section on the competition scenario of phycocyanin market, along with the profiles of major companies contributing to the market expansion. Essential and up-to-date data as well as information correlated to the market performers, who principally engage in the production and supply of phycocyanin, has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits the report readers to plan preemptive steps to advance their businesses.
Company profiles have been shared in the report, which exerts essentials such as product portfolio, along with an all-inclusive SWOT analysis on each player recognized along with the company policies identification and analysis. The company presence mapped and presented through the matrix for all the prominent players of the market functioning in phycocyanin market offers readers with actionable intellect, which helps in thoughtfully presenting the market status, and making decisive predictions on the competition levels in phycocyanin market. Major companies operating in global phycocyanin market, include Chr. Hansen Holding A/S, Cyanotech Corp, DDW Inc., DIC Corporation, Dongtai City Spirulina Bio-Engineering Co., Ltd., Fuqing King Dnarmsa Spirulina Co., Ltd., GNT Holding B.V., Sensient Technologies Corp., Parry Nutraceuticals Limited, Naturalin Bio-Resources Co., Ltd, Far East Bio-Tec Co., Ltd., Döhler GmbH, Naturex S.A., Fraken Biochem Co., Ltd. and others.
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