Phycocyanin Market

Phycocyanin Market Study by Powder and Liquid Form for Food & Beverages, Nutraceuticals, Animal Feed, and Others from 2023 to 2033

Analysis of Phycocyanin Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Phycocyanin Market Outlook (2023 to 2033)

As of 2023, global demand for phycocyanin accounts for US$ 180.5 million in value and is predicted to reach a market size of US$ 353 million by the end of 2033. The global phycocyanin market is forecasted to exhibit expansion at a noteworthy 6.9% CAGR from 2023 to 2033, as per this latest Fact.MR market research analysis.

Phycocyanin is a pigment-protein complex that is an accessory pigment to chlorophyll and is from the light-harvesting phycobiliprotein family. Phycocyanin is used to create natural blue color for foods and beverages. Ban on the use of synthetic colors in food and beverages in several countries has led to a substantial hike in demand for natural food colors and natural food color additives.

  • At the beginning of 2022, member states of the European Union began the six-month phasing out period for the banned E171 food coloring from all types of food products.

Rising focus on health and fitness coupled with expanding awareness regarding the health benefits associated with phycocyanin is also projected to bolster market development over the next ten years. The surging popularity of spirulina products and increasing consumption of spirulina by health-conscious consumers around the world are also expected to supplement shipments of phycocyanin in the future.

Increasing use of phycocyanin and spirulina in a multitude of applications such as animal feed, pet food, cosmetics, etc. is also predicted to open up new windows of opportunity for phycocyanin companies across the forecast period and beyond. Growing awareness regarding the effects of phycocyanin on lowing LDL cholesterol and improving HDL cholesterol levels is also projected to promote its uptake from cardiovascular patients going forward.

The high amount of protein found in phycocyanin naturally makes it a favorite among superfood consumers around the world, who are increasing in number at a rapid pace. Regulatory approvals for the use of phycocyanin in food coloring applications have also helped the market reach its high growth potential and are expected to do the same in the future as well.

On the contrary, increasing soil and water pollution around the world is expected to contribute to the contamination of spirulina and ultimately contamination of phycocyanin, which could obstruct market development going forward. Changing climatic conditions and variations in imports and exports are also expected to emerge as major challenges for phycocyanin companies in the long run.

Report Attributes


Phycocyanin Market Size (2023)

US$ 180.5 Million

Projected Market Value (2033F)

US$ 353 Million

Global Market Growth Rate (2023 to 2033)

6.9% CAGR

Market Share of Powdered Phycocyanin (2023)


Brazil Market Growth Rate (2023 to 2033)

6.5% CAGR

United States Market Share in North America(2022)


Key Companies Profiled

  • Cyanotech Corp.
  • Naturalin Bio-Resources Co. Ltd.
  • DIC Corporation
  • DDW Inc.
  • Sensient Technologies Corp.
  • GNT Holding B.V.
  • Chr. Hansen Holding A/S
  • Fuqing King Dnarmsa Spirulina Co. Ltd.
  • Parry Nutraceuticals Limited
  • Dongtai City Spirulina Bio-Engineering Co. Ltd.
  • Far East Bio-Tec Co. Ltd.

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How Can Start-ups Make a Mark in the Phycocyanin Industry Landscape?

“Commercialization of Phycocyanin - Prime Focus of Aspiring Companies”

Incoming phycocyanin suppliers are focusing on the commercialization of phycocyanin as a natural food coloring owing to the high demand for natural food colors and natural food additives. An increasing number of bans on synthetic food colors in different countries are expected to create a highly opportunistic growth scope for new phycocyanin manufacturers going forward.

  • Synergia Biotech, a start-up founded by Agasteswar Vadlamani and Angela Kouris who were researchers at the University of Calgary in 2019, is focusing on the commercialization of phycocyanin to create food-grade blue pigment dye. The process is completely environment friendly as it uses cyanobacteria to harvest and concentrate blue color into a powder.
  • Gavan, a food technology start-up based in Israel, has found a way to extract phycocyanin through its proprietary non-GMO technology from spirulina without producing any type of waste. The start-up then creates a natural coloring formulation that can be used in foods and beverages. The health benefits associated with phycocyanin can also push its use in functional foods and fortified beverages.

New companies can also capitalize on the growing demand for superfoods by offering food products that are rich in phycocyanin and other antioxidants and nutrients.

  • Tahi Spirulina, a New Zealand-based start-up founded in 2017, is offering Tahi Spirulina Crunchies, a superfood that is rich in micronutrients such as phycocyanin and is created from sustainably-sourced bioactive ingredients.

An elaborative account of all industry-influencing aspects such as product standards, new developments, safety regulations, and pricing trends affecting the start-up scenario has been discussed extensively in this latest phycocyanin market research study by the skilled analysts at Fact.MR, a market research and competitive intelligence provider.

Phycocyanin market size & growth forecast by Fact.MR

Country-wise Insights

Why Should Phycocyanin Suppliers Invest in Europe?

“Growing Consumption of Functional Foods and Ban on Synthetic Food Colors”

European consumers have become more aware of their health and fitness, which has led to a substantial increase in demand for functional foods and superfoods. Spirulina is considered to be a superfood containing phycocyanin and other rich nutrients whose consumption has been witnessing an upward trend in recent years. Moreover, the ban on the use of synthetic food colors by regulatory authorities in the European region is also expected to boost demand for phycocyanin as a natural food color throughout the forecast period.

Surging demand for organic food products and a growing number of vegans are also projected to bolster demand for phycocyanin spirulina and organic phycocyanin over the next ten years. France, Germany, Italy, and the United Kingdom are estimated to emerge as highly opportune markets in the European region for phycocyanin companies through 2033.

High focus on sustainability and the growing adoption of sustainable agricultural practices are also projected to benefit market growth in the European region over the coming years.

What Makes the United States a Remunerative Market for Phycocyanin Manufacturers?

“High Demand for Nutraceuticals and Rising Health Consciousness”

Consumption of nutraceutical supplements has been increasing at a rapid pace in the United States in recent years owing to the high prevalence of chronic diseases and rising focus on health and fitness. High incidence of lifestyle disorders such as obesity and diabetes has resulted in an increased focus on health and fitness, which in turn is slated to bolster shipments of phycocyanin products in the country.

Adoption of natural food additives by food and beverage manufacturers citing high demand from health-conscious consumers is also anticipated to uplift the demand for blue phycocyanin over the next ten years.

  • Phycocyanin shipments in the United States accounted for more than 85% share of the North American phycocyanin industry in 2022.

Why is Japan an Investment-worthy Space for Phycocyanin Producers?

“Ban on Trading of Food Products with Synthetic Food Color”

  • Trading of food products containing synthetic food color has been banned in Japan since 2017 and this is projected to be a primary aspect promoting blue phycocyanin demand in the country going forward.
  • As per an article published on florovitas, spirulina is highly popular in the country and is consumed by nearly 45% of the total population of Japan regularly as a dietary supplement.

The aforementioned factors are anticipated to influentially augment the demand for phycocyanin in Japan over the coming years and provide attractive opportunities for phycocyanin manufacturers. Increasing consumption of nutraceuticals and dietary supplements, the growing aging population, and rising awareness regarding the benefits of phycocyanin spirulina are other factors that could foster market development in Japan over the next ten years.

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Category-wise Insights

Demand for Which Type of Phycocyanin Will Surge Going Ahead?

“Organic Phycocyanin to Exhibit Hike in Demand”

Based on nature, the market for phycocyanin is segmented into organic and conventional.

Currently, sales of conventional phycocyanin account for a significant share of the global marketplace. Increasing awareness regarding the benefits associated with organic and natural products is projected to boost sales of organic phycocyanin over the coming years. The growing popularity of veganism and the adoption of plant-based natural food products are also anticipated to benefit organic phycocyanin demand through 2033.

Competitive Landscape

Prime phycocyanin manufacturers are adopting strategies such as mergers, acquisitions, and collaborations to expand their business scope around the world.

  • In December 2021, Givaudan, a multinational Swiss manufacturer of flavor and fragrances, announced that it had completed the acquisition of DDW, The Color House, which is a natural color company based in the United States. This acquisition made Givaudan one of the two top players in the natural colors marketplace.
  • In July 2020, Global EcoPower (GEP), a French renewable energy company, announced that it had acquired spirulina production and marketing assets from Tam, a Brittany-based spirulina producer. With this acquisition, GEP had plans to expand its phycocyanin and spirulina production capacity, which would have strengthened its stance in the global competitive landscape.

The launch of new products containing phycocyanin by several companies owing to the rising consumption of superfoods and fortified beverages is also expected to create expansive business scope for phycocyanin suppliers going forward.

  • In December 2021, Ful announced the launch of its new range of non-alcoholic mixers in the United Kingdom. The mixers comprised a specifically-formulated spirulina and came in three distinct flavors.

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

Key Segments of Phycocyanin Industry Research

  • By Nature :

    • Organic
    • Conventional
  • By Form :

    • Powder
    • Liquid
  • By Application :

    • Food and Beverages
    • Nutraceuticals
    • Animal Feed
    • Cosmetics & Personal Care
    • Others
  • By Region :

    • North America
    • Latin America
    • Europe
    • APAC
    • MEA

- FAQs -

How big is the global phycocyanin market?

The global phycocyanin market is valued at US$ 180.5 million in 2023.

What will the phycocyanin market size be by 2033?

By 2033-end, sales of phycocyanin are forecasted to reach US$ 353 million.

What is the growth rate of the phycocyanin market?

From 2023 to 2033, worldwide phycocyanin demand is expected to rise at 6.9% CAGR.

What are the segments of the phycocyanin market report?

Nature, form, application, and region are the key segments detailed in this Fact.MR research survey.

Who are the prime phycocyanin suppliers?

Cyanotech Corp., Naturalin Bio-Resources Co. Ltd., DIC Corporation, DDW Inc., and GNT Holding B.V. are leading phycocyanin manufacturers.

Phycocyanin Market

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