Phycocyanin Market Insights & Forecasts | Exploring the Growth Trajectory

Expanding demand for natural pigments drives steady growth in the phycocyanin market.

WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATES, May 6, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled “Global Phycocyanin Market by Form, Grade and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,”

The global phycocyanin market size is expected to reach $409.8 million by 2030, at a CAGR of 9.6% from 2021 to 2030.

𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 : https://www.alliedmarketresearch.com/request-sample/A12344

Phycocyanin is a pigment-protein complex found in cyanobacteria and certain algae, particularly spirulina. It is responsible for the blue coloration observed in these organisms. Phycocyanin absorbs light most efficiently at wavelengths around 620–640 nanometers, which is in the red–orange part of the spectrum, and it emits light at around 650–660 nanometers, appearing blue to the human eye.

This pigment plays a crucial role in photosynthesis, where it serves as a light-harvesting pigment. It captures light energy and transfers it to chlorophyll for photosynthetic processes. Additionally, phycocyanin has gained attention for its potential health benefits, including antioxidant, anti-inflammatory, and immune-boosting properties. As a result, it is sometimes used as a dietary supplement and in various food and cosmetic products.
The global phycocyanin market has been experiencing steady growth due to increasing consumer awareness about the health benefits of natural pigments and the rising demand for natural food colorants. Market reports often provide data on the market size, historical trends, and projected growth rates.

Phycocyanin belongs to the light-harvesting phycobiliprotein family. It is found in Cryptophyceae, cyanobacteria, and Rhodophyceae, and according to the species, it is called as C-PC and R-PC. It has been gaining major popularity in medical and biotechnology fields as C-phycocyanin isolated from S. platensis has many therapeutic efficacies, such as anticancer properties, free radical scavenging activity, and antioxidant and anti-inflammatory properties.

North America and Europe are critically banning use of synthetic colors in food & beverages owing to its health hazards, including hyperactivity in children and skin allergies. For instance, European Food Safety Authority, the regulatory agency of EU countries, has banned the utilization of synthetic color for food safety in the products that are consumed in EU countries, which subsequently promotes the growth of natural color market, thus indirectly boosting the demand for phycocyanin during the forecast period.

𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬
Phycocyanin finds applications across various industries, including food and beverages, pharmaceuticals, cosmetics, and nutraceuticals. Market research often delves into the specific applications within these industries, highlighting current uses and emerging opportunities.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬
Market research may include regional analysis, examining the demand for phycocyanin in different geographic regions such as North America, Europe, Asia-Pacific, and others. This analysis helps stakeholders understand regional market dynamics, regulatory frameworks, and growth prospects.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞
Reports typically provide insights into the competitive landscape of the phycocyanin market, profiling key players, their product portfolios, strategies, and market positioning. This information helps stakeholders identify potential collaborators, competitors, and investment opportunities.

𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐬
Understanding consumer preferences and trends is crucial for businesses operating in the phycocyanin market. Market research may include consumer surveys, purchasing behavior analysis, and trend forecasting to identify emerging consumer preferences and market opportunities.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 : https://www.alliedmarketresearch.com/purchase-enquiry/A12344

Regulatory Environment
Compliance with regulatory standards and guidelines is essential in the phycocyanin market. Market research often covers regulatory frameworks governing the production, labeling, and marketing of phycocyanin-based products in different regions.

𝐏𝐫𝐢𝐜𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬
Pricing trends and factors influencing the pricing of phycocyanin products are important aspects of market research. Analysts may conduct price analysis to understand price dynamics, competitive pricing strategies, and price elasticity of demand.

𝐒𝐮𝐩𝐩𝐥𝐲 𝐂𝐡𝐚𝐢𝐧 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬

Understanding the supply chain dynamics, including raw material sourcing, manufacturing processes, distribution channels, and logistics, is crucial for stakeholders in the phycocyanin market. Market research may provide insights into the supply chain ecosystem and key players involved.

𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐑𝐞𝐯𝐢𝐞𝐰

In accordance with several interviews conducted, top-level CXOs agree that the food & beverage industry has slowly started phasing out artificial colors due to a rise in safety concerns and an increase in demand for natural colors. Phycocyanin is considered to be one of the most popular natural food colors among food & beverage manufacturers. Phycocyanin, extracted from spirulina, is a protein that imparts a vibrant blue color. In addition, it can be combined with other colors to make customized colors such as green, lavender, or violet shades, which makes it ideal for usage in various food & beverage products.

Phycocyanin extracted from Spirulina has high antioxidant, hypolipidemic, beta-carotene, and anti-inflammatory properties. It offers health benefits such as reduced cholesterol and blood pressure, owing to its exceptional properties. Growth in penetration of spirulina-based phycocyanin in the cosmetics and pharmaceutical industries is further expected to fuel the growth of the market during the forecast period.

North America was the leading revenue contributor to the global phycocyanin market in 2020 and is expected to remain dominant throughout the forecast period. This is attributed to the increase in demand for naturally derived food coloring agents in the region. However, Asia-Pacific is expected to grow at the highest CAGR during the study period, as it offers lucrative opportunities for market players owing to the favorable production environment for the phycocyanin processing industry in the region.

However, the existing challenges, such as close substitutes and a lack of awareness regarding the phycocyanin benefits, are expected to hamper the growth of the phycocyanin market during the forecast period. Furthermore, the high cost of natural colors, purification, and extractions, as well as the risk of algae contamination, are likely to restrain the growth of the market.

𝐌𝐚𝐤𝐞 𝐚 𝐃𝐢𝐫𝐞𝐜𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 : https://www.alliedmarketresearch.com/phycocyanin-market/purchase-options

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view of providing business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

We have professional corporate relations with various companies, and this helps us dig out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high-quality data and help clients in every way possible to achieve success. Each and every piece of data presented in the reports published by us is extracted through primary interviews with top officials from leading companies in the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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