Global Phycocyanin Market Analysis and Forecast 2019-2028
$2,800.00 – $5,440.00
Increasing demand for natural food colorants fuels the demand for Phycocyanin globally
The global Phycocyanin market is estimated to witness a moderate growth rate of around 3.3% during the forecast period of 2023–2028 and was valued at around US$ 180 million in 2022. The Phycocyanin market is primarily driven by increasing demand for natural food colorants, rising awareness about health benefits, and technological advancements in algae cultivation and extraction.
Moreover, Phycocyanin is recognized for its potential health benefits, including antioxidant, anti-inflammatory, and immune system support properties. As consumers become more health-conscious and seek functional ingredients, the demand for phycocyanin as a nutritional supplement and functional ingredient in various products increases.
Organic phycocyanin is dominating the global market owing to the perceived health benefits coupled with environmental concerns
The organic segment is expected to dominate the global Phycocyanin market during the forecast period of 2023-2028. Consumers are increasingly seeking organic products due to perceived health benefits, environmental concerns, and a desire to support sustainable and ethical practices. This preference extends to natural food colorants and ingredients like phycocyanin.
Furthermore, many countries have established regulatory frameworks and certification programs for organic products. These regulations ensure compliance with organic standards and provide consumers with confidence in the authenticity and quality of organic products, including organic phycocyanin.
The clean label movement emphasizes transparency and natural ingredients. Organic phycocyanin aligns with this movement as it is derived from organic algae sources without the use of synthetic pesticides, herbicides, or genetically modified organisms (GMOs).
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North America is the prominent market for phycocyanin, accounting for more than 30% of the market share in 2022
North America is the prominent market for phycocyanin, accounting for more than 30% of the market share in 2022. The growth of the Phycocyanin market in this region is attributed to the increasing demand for natural food colorants and dietary supplements.
Europe is another prominent market for phycocyanin, primarily driven by the increasing demand for natural and organic food ingredients. Countries like Germany, France, and the UK are significant contributors to the Phycocyanin market growth. The European Union’s stringent regulations on food additives and the preference for clean-label products have led to a rising demand for natural colorants like phycocyanin.
Asia Pacific is a dominant region in the global phycocyanin market, primarily due to the extensive cultivation and consumption of algae-based products in countries like China, India, and Japan. These countries have a long-standing history of utilizing algae in traditional medicine and food, providing a strong foundation for the phycocyanin market. Additionally, the growing awareness of the health benefits of phycocyanin and the rising demand for natural food colorants drive the Phycocyanin market in this region.
In Latin America and MEA, the market is growing at a steady rate. The growth of Phycocyanin market in the target region is attributed to the increasing demand for natural food colorants and dietary supplements in these regions.
Market Structure and Competition Landscape
The global Phycocyanin market is fragmented in nature with the presence of various players operating in the market. Some of the prominent players that contribute significantly to the Phycocyanin market include Naturex, East India Distilleries Parry Limited, Lumen Bioscience, Seah International, Organicway, Inc., Aim Grow Biotech Co., Ltd., Essential Organic Ingredients, Xi’an Pincredit Biotech Co. Ltd., and C.E. Ropper Gmbh among others. These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the Phycocyanin market.
Key Market Segmentation
RationalStat has segmented the global Phycocyanin market based on nature, form, application, and region.
- By Nature
- Organic
- Conventional
- By Form
- Powder
- Liquid
- By Application
- Food and Beverages
- Nutraceuticals
- Others (Animal Feed, etc.)
- By Region
- North America
- US
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Western Europe
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- Rest of Eastern Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- South Africa
- Turkey
- Rest of the Middle East & Africa
- North America
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
Secondary Sources
- Annual reports, company filings, investor presentations, product catalogs, and company documents
- Industry and market-related documents available in the public domain
- Paid databases including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, and Thomson Reuters, among others
- Whitepapers, research papers, and industry blogs.
Why Buy this Report?
The report is intended for government organizations, market educational organizations, automotive industry players, regulatory agencies, and market research firms, among others. The report provides an in-depth analysis of market size, consumption patterns, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.
Frequently Asked Questions (FAQs)
The global Phycocyanin market is expected to grow at a CAGR of 3.3% during the forecast period 2023-2028.
North America is dominating the global Phycocyanin market in 2022.
The global Phycocyanin market is estimated at around US$ 180 million in 2022.
Increasing demand for natural food colorants fuels the demand for Phycocyanin globally are some of the key drivers fuelling the growth of the global Phycocyanin market.
Major companies operating in the global Phycocyanin market include Naturex, East India Distilleries Parry Limited, Lumen Bioscience, Lumen Bioscience, Seah Internationa, Organicway, Inc., Aim Grow Biotech Co., Ltd., etc.
| REGION | Global |
|---|---|
| RELEASE YEAR | 2023 |
| RESEARCH CODE | RST-SAR-2317 |
| ADDITIONAL FEATURE | 24×7 Post sales support and 15% free customization |
| User License | Single User/Team License, Corporate License |
Table of Contents
1. Market Introduction
1.1. Scope of Study
1.2. Problem Statement
1.3. Market Segmentation
2. Assumptions and Acronyms
3. Executive Summary
3.1. Global Market in 2022
3.2. Analyst Insights & Recommendations
3.3. Growth Opportunities and Key Strategies
3.4. Supply-side and Demand-side Trends
4. Research Methodology
5. Analysis of COVID-19 Impact and Road Ahead
6. Market Indicators and Background
6.1. Macro-Economic Factors
6.1.1. Global Population Overview and Forecast
6.1.2. Per Capita Income by Select Countries
6.1.3. Global GDP Overview and Forecast
6.1.4. Global Chemicals Market Overview
6.1.5. Global Food and Beverages Industry Overview
6.2. Forecasting Factors
Robust assessment of various factors including industrial performance, industry players’ expenditures, and economic conditions, among others
6.3. Supply Chain & Value Chain Analysis
6.3.1. Raw Material Suppliers (Algae Cultivation, Harvesting, and Processing)
6.3.2. Phycocyanin Extraction and Purification
6.3.3. Phycocyanin Producers (Formulation and Product Development)
6.3.4. Distributors
6.3.5. End Users
6.4. Industry SWOT Analysis
6.5. PESTLE Analysis
6.6. Porter’s Five Forces Analysis
7. Government Laws and Industry Regulations
8. Global and Regional Market Dynamics
8.1. Drivers
8.2. Restraints
8.3. Trends
8.4. Opportunities
9. Production and Consumption of Phycocyanin by Key Region
9.1. North America
9.2. Latin America
9.3. Western Europe
9.4. Eastern Europe
9.5. Asia Pacific
9.6. Middle East and Africa
10. Global Distribution Model in Phycocyanin Market
11. Global Phycocyanin Market: Key Investment Analysis
11.1.By Key Companies
11.2.By Key Associations
11.3.By Region
11.4.M&A Activities
Robust assessment of major investments made by various industry players in the areas ranging from the application, key end users, etc.
12. EXIM Analysis: Trade Data
12.1.Import Data by Value (US$ million) and Volume (‘000 Tons)
12.1.1. Major Importing Countries
12.1.2. Key Importing Destinations
12.2.Export Data by Value (US$ million) and Volume (‘000 Tons)
12.2.1. Major Exporting Countries
12.2.2. Key Exporting Destinations
13. Pricing Analysis
13.1.By Nature
13.1.1. Organic
13.1.2. Conventional
13.2.By Region
13.2.1. North America
13.2.2. Western Europe
13.2.3. Eastern Europe
13.2.4. Asia Pacific
13.2.5. Latin America
13.2.6. Middle East & Africa
14. Parent Market Overview
14.1.Global Food and Beverages Industries by Value (US$ Billion)
14.2.Global Chemicals Market by Value (US$ Billion)
15. Segmental Analysis
15.1.Global Phycocyanin Market by Nature in Terms of Value (US$ Million) and Volume (‘000 Tons)
15.1.1. Organic
15.1.2. Conventional
15.2.Global Phycocyanin Market by Form in Terms of Value (US$ Million) and Volume (‘000 Tons)
15.2.1. Powder
15.2.2. Liquid
15.3.Global Phycocyanin Market by Application in Terms of Value (US$ Million) and Volume (‘000 Tons)
15.3.1. Food and Beverages
15.3.2. Nutraceuticals
15.3.3. Others (Animal Feed, etc.)
15.4.Global Phycocyanin Market by Region in Terms of Value (US$ Million) and Volume (‘000 Tons)
15.4.1. North America
15.4.2. Latin America
15.4.3. Western Europe
15.4.4. Eastern Europe
15.4.5. Asia Pacific
15.4.6. Middle East & Africa
16. Regional Analysis
16.1.North America Phycocyanin Market Analysis and Forecast 2019-2028
16.1.1. Regional Market Overview and Key Takeaways
16.1.2. North America Phycocyanin Market by Nature
16.1.3. North America Phycocyanin Market by Form
16.1.4. North America Phycocyanin Market by Application
16.1.5. North America Phycocyanin Market by Country
16.1.5.1. US
16.2.Latin America Phycocyanin Market Analysis and Forecast 2019-2028
16.2.1. Regional Market Overview and Key Takeaways
16.2.2. Latin America Phycocyanin Market by Nature
16.2.3. Latin America Phycocyanin Market by Form
16.2.4. Latin America Phycocyanin Market by Application
16.2.5. Latin America Phycocyanin Market by Country
16.2.5.1. Brazil
16.2.5.2. Mexico
16.2.5.3. Rest of Latin America
16.3.Western Europe Phycocyanin Market Analysis and Forecast 2019-2028
16.3.1. Regional Market Overview and Key Takeaways
16.3.2. Western Europe Phycocyanin Market by Nature
16.3.3. Western Europe Phycocyanin Market by Form
16.3.4. Western Europe Phycocyanin Market by Application
16.3.5. Western Europe Phycocyanin Market by Country
16.3.5.1. Germany
16.3.5.2. UK
16.3.5.3. France
16.3.5.4. Spain
16.3.5.5. Italy
16.3.5.6. Benelux
16.3.5.7. Nordic
16.3.5.8. Rest of Western Europe
16.4.Eastern Europe Phycocyanin Market Analysis and Forecast 2019-2028
16.4.1. Regional Market Overview and Key Takeaways
16.4.2. Eastern Europe Phycocyanin Market by Nature
16.4.3. Eastern Europe Phycocyanin Market by Form
16.4.4. Eastern Europe Phycocyanin Market by Application
16.4.5. Eastern Europe Phycocyanin Market by Country
16.4.5.1. Russia
16.4.5.2. Poland
16.4.5.3. Rest of Eastern Europe
16.5.Asia Pacific Phycocyanin Market Analysis and Forecast 2019-2028
16.5.1. Regional Market Overview and Key Takeaways
16.5.2. Asia Pacific Phycocyanin Market by Nature
16.5.3. Asia Pacific Phycocyanin Market by Form
16.5.4. Asia Pacific Phycocyanin Market by Application
16.5.5. Asia Pacific Phycocyanin Market by Country
16.5.5.1. China
16.5.5.2. Japan
16.5.5.3. India
16.5.5.4. South Korea
16.5.5.5. Australia
16.5.5.6. ASEAN
16.5.5.7. Rest of Asia-Pacific
16.6.Middle East & Africa Phycocyanin Market Analysis and Forecast 2019-2028
16.6.1. Regional Market Overview and Key Takeaways
16.6.2. Middle East & Africa Phycocyanin Market by Nature
16.6.3. Middle East & Africa Phycocyanin Market by Form
16.6.4. Middle East & Africa Phycocyanin Market by Application
16.6.5. Middle East & Africa Phycocyanin Market by Country
16.6.5.1. GCC
16.6.5.2. South Africa
16.6.5.3. Turkey
16.6.5.4. Rest of the Middle East & Africa
17. Competitive Landscape
17.1.Competition Dashboard
17.1.1. Market Share Analysis by Brands
17.1.1.1. Regional
17.1.1.2. Global
17.1.2. Market Structure by Geography
17.2.Competitive Benchmarking
17.3.Key Strategy Analysis
17.4.Company Profiles
17.4.1. Naturex
17.4.1.1. Company Overview
17.4.1.2. Product/Service Offerings
17.4.1.3. Key Financials
17.4.1.4. Recent Developments
17.4.2. East India Distilleries Parry Limited
17.4.2.1. Company Overview
17.4.2.2. Product/Service Offerings
17.4.2.3. Financials
17.4.2.4. Recent Developments
17.4.3. Lumen Bioscience
17.4.3.1. Company Overview
17.4.3.2. Product/Service Offerings
17.4.3.3. Financials
17.4.3.4. Recent Developments
17.4.4. Seah International
17.4.4.1. Company Overview
17.4.4.2. Product/Service Offerings
17.4.4.3. Financials
17.4.4.4. Recent Developments
17.4.5. Organicway, Inc.
17.4.5.1. Company Overview
17.4.5.2. Product/Service Offerings
17.4.5.3. Financials
17.4.5.4. Recent Developments
17.4.6. Aim Grow Biotech Co., Ltd.
17.4.6.1. Company Overview
17.4.6.2. Product/Service Offerings
17.4.6.3. Financials
17.4.6.4. Recent Developments
17.4.7. Essential Organic Ingredients
17.4.7.1. Company Overview
17.4.7.2. Product/Service Offerings
17.4.7.3. Financials
17.4.7.4. Recent Developments
17.4.8. Xi’an Pincredit Biotech Co. Ltd.
17.4.8.1. Company Overview
17.4.8.2. Product/Service Offerings
17.4.8.3. Financials
17.4.8.4. Recent Developments
17.4.9. C.E. Ropper Gmbh
17.4.9.1. Company Overview
17.4.9.2. Product/Service Offerings
17.4.9.3. Financials
17.4.9.4. Recent Developments.
17.4.10. Seah International
17.4.10.1. Company Overview
17.4.10.2. Product/Service Offerings
17.4.10.3. Financials
17.4.10.4. Recent Developments.
A comprehensive list of Phycocyanin producers and distributors will be provided along with geographical reach, employee count, revenue, product capacities, and capabilities
18. Disclaimer
Every Sample Includes
Research Methodology
Complete Table of Contents, List of Charts and Tables
Exclusive Facts & Illustrations
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