Phycocyanin Market by Product Type, End-Users, and Geography (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2032

Description

Persistence Market Research has recently published an in-depth analysis of the global Phycocyanin Market, offering a comprehensive overview of key market dynamics, growth drivers, challenges, and emerging trends. This report provides valuable insights into the Phycocyanin Market, presenting exclusive data and statistics that forecast the market's growth trajectory from 2024 to 2032.

The global market for phycocyanin sales currently stands at approximately US$ 193.2 million. Projections indicate that the market is poised to grow at a compound annual growth rate (CAGR) of 7%, reaching a valuation of US$ 333 million by the year 2032.

Key Insights:

Phycocyanin Market Size (2024E) - US$ 193.2 Mn
Projected Sales of Phycocyanin (2032F) - US$ 333 Mn
Value CAGR (2024-2032) - 7.0%

Phycocyanin Market - Report Scope:

Phycocyanin, a pigment found in blue-green algae, holds significant importance across various industries, including food and beverages, cosmetics, pharmaceuticals, and nutraceuticals. This report explores the diverse applications and technological advancements driving the adoption of phycocyanin globally.

Market Growth Drivers:

The Phycocyanin Market is fueled by several factors. Increasing consumer awareness regarding the health benefits of phycocyanin, such as its antioxidant and anti-inflammatory properties, drives market demand. Additionally, the rising popularity of natural and plant-based products in various industries, coupled with the growing demand for clean-label ingredients, further propels market growth.

Market Restraints:

Despite the promising growth prospects, challenges persist in the Phycocyanin Market. Limited availability of high-quality phycocyanin due to factors like seasonal variations and geographical constraints poses a restraint on market expansion. Moreover, concerns regarding the sustainability and environmental impact of phycocyanin extraction methods require attention to ensure long-term market sustainability.

Market Opportunities:

The Phycocyanin Market presents significant opportunities for innovation and expansion. Research and development efforts focused on improving extraction techniques, increasing yield, and reducing production costs are crucial for unlocking new market avenues. Additionally, the exploration of novel applications in areas such as medicine, cosmetics, and functional foods holds promise for market growth.

Key Questions Answered in the Report:

What are the primary factors driving the growth of the Phycocyanin Market?
Which industries and applications are driving the demand for phycocyanin?
How are technological advancements reshaping the competitive landscape of the Phycocyanin Market?
Who are the leading players in the global Phycocyanin Market?
What emerging trends and future prospects are anticipated in the global Phycocyanin Market?

Competitive Intelligence and Business Strategy:

In the competitive landscape of the phycocyanin market, companies are strategically prioritizing measures to enhance production efficiency, ensure product quality, and expand their product portfolios. Collaborations, partnerships, and acquisitions serve as common strategies employed by key players to bolster their market presence and cater to evolving consumer demands. With a focus on innovation and market expansion, companies are actively engaged in research and development efforts aimed at optimizing extraction techniques, increasing yield, and exploring novel applications for phycocyanin across various industries.

Key Companies Profiled:

Cyanotech Corporation
DDW Inc.
DIC Corporation
C.B.N. Bio-engineering Co., Ltd
Fuqing King Dnarmsa Spirulina Co., Ltd.
Fraken Biochem Co., Ltd.
Japan Algae Co., Ltd.
Parry Nutraceuticals
Chr. Hansen Holding A/S
Naturex S.A.
Far East Bio-Tec Co., Ltd.
NutraCulture
Merck KGaA
Tianjin Norland Biotech Co., Ltd.
Bluetec Naturals Co., Ltd
Wellisen Nutraceuticals Pvt. Ltd.
Sensient Technologies Corporation
GNT Group B.V.
AlgoSource
Zhejiang Binmei Biotechnology Co., Ltd

Phycocyanin Market Segmentation:

Phycocyanin Market by Nature:

Organic Phycocyanin
Conventional Phycocyanin

Phycocyanin Market by Form:

Liquid Phycocyanin
Powder Phycocyanin

Phycocyanin Market by End Use:

Food and Beverages
Nutraceuticals
Cosmetics and Personal Care
Animal Feed
Others

Phycocyanin Market by Region:

North America Phycocyanin Market
Latin America Phycocyanin Market
Europe Phycocyanin Market
South Asia Phycocyanin Market
East Asia Phycocyanin Market
Oceania Phycocyanin Market
Middle East and Africa Phycocyanin Market

Product Code: PMRREP32281

1. Executive Summary

1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations

3. Key Market Trends

3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends

4. Key Success Factors

4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
4.3. Strategic Promotional Strategies

5. Global Phycocyanin Market Demand (in Value or Size in US$ Mn) Analysis 2019-2023 and Forecast, 2024-2032

5.1. Historical Market Volume (Tons) & Value (US$ Mn) Analysis, 2019-2023
5.2. Current and Future Market Volume (Tons) & Value (US$ Mn) Projections, 2024-2032
- 5.2.1. Y-o-Y Growth Trend Analysis
- 5.2.2. Absolute $ Opportunity Analysis

6. Global Phycocyanin Market - Pricing Analysis

6.1. Regional Pricing Analysis By Nature
6.2. Global Average Pricing Analysis Benchmark

7. Market Background

7.1. Macro-Economic Factors
- 7.1.1. Global GDP Growth Outlook
- 7.1.2. Global Industry Value Added
- 7.1.3. Global Urbanization Growth Outlook
- 7.1.4. Global Food Security Index Outlook
- 7.1.5. Global Rank - Ease of Doing Business
- 7.1.6. Global Rank - Trading Across Borders
7.2. COVID-19 Impact on the Economy
- 7.2.1. Scenarios for the Economic Impact of the COVID-19 Crisis
- 7.2.2. Global Economic Growth - G10 Countries
- 7.2.3. Expected Effect of Pandemic on Economic Growth Rate
- 7.2.4. Economic Growth of Key Countries
7.3. COVID-19 Impact on Food & Beverage Industry
- 7.3.1. Impact of COVID-19 on Food and Beverage Industry
- 7.3.2. Impact of COVID-19 on 2020 Food Trends
- 7.3.3. Impact of COVID on Food Supply Chain
- 7.3.4. Supply Chain Impact on Food Ingredients from the Coronavirus Pandemic
- 7.3.5. Actions for Supply Chain
- 7.3.6. Reaction of Association Towards the Pandemic
7.4. COVID-19 Impact on Phycocyanin Market
- 7.4.1. COVID-19 Impact on Phycocyanin Value Chain
- 7.4.2. Covid-19 Supply Chain Disruption: Worldwide port congestion data
7.5. Global Food & Beverage Industry Outlook
- 7.5.1. Food and Beverages Industry Overview
- 7.5.2. Food & Beverage Industry Key Indicators
7.6. Global Processed Food & Beverage Industry Outlook
7.7. Global Organic Food & Beverage Industry Outlook
7.8. Global Beverage Industry Outlook
7.9. Global Cosmetics & Personal Care Industry Outlook
7.10. Global Pharmaceutical Industry Outlook
7.11. Global Feed Industry Outlook
7.12. Global Nutraceutical Industry Outlook
- 7.12.1. Global Dietary Supplement Market Overview
7.13. End User Demand Analysis
7.14. Sustainable Development Goals
7.15. The Future of Food
7.16. Industry Value and Supply Chain Analysis
- 7.16.1. Profit Margin Analysis at each point of sales
7.17. Key Regulations
7.18. Market Dynamics
- 7.18.1. Drivers
- 7.18.2. Restraints
- 7.18.3. Opportunity Analysis
7.19. Forecast Factors - Relevance & Impact

8. Global Phycocyanin Market Analysis 2019-2023 and Forecast 2024-2032, By Nature

8.1. Introduction / Key Findings
8.2. Historical Market Size (US$ Mn) and Volume Analysis By Nature, 2019-2023
8.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Nature, 2024-2032
- 8.3.1. Organic
- 8.3.2. Conventional
8.4. Market Attractiveness Analysis By Nature

9. Global Phycocyanin Market Analysis 2019-2023 and Forecast 2024-2032, By Form

9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Mn) and Volume Analysis By Form, 2019-2023
9.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Form, 2024-2032
- 9.3.1. Liquid
- 9.3.2. Powder
9.4. Market Attractiveness Analysis By Form

10. Global Phycocyanin Market Analysis 2019-2023 and Forecast 2024-2032, By End Use

10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ Mn) and Volume Analysis By End Use, 2019-2023
10.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By End Use, 2024-2032
- 10.3.1. Food & Beverage
- 10.3.2. Nutraceuticals
- 10.3.3. Cosmetics & Personal care
- 10.3.4. Animal Feed
- 10.3.5. Others
10.4. Market Attractiveness Analysis By End Use

11. Global Phycocyanin Market Analysis 2019-2023 and Forecast 2024-2032, by Region

11.1. Introduction
11.2. Historical Market Size (US$ Mn) and Volume Analysis By Region, 2019-2023
11.3. Current Market Size (US$ Mn) and Volume Analysis and Forecast By Region, 2024-2032
- 11.3.1. North America
- 11.3.2. Latin America
- 11.3.3. Europe
- 11.3.4. East Asia
- 11.3.5. South Asia
- 11.3.6. Oceania
- 11.3.7. Middle East and Africa (MEA)
11.4. Market Attractiveness Analysis By Region

12. North America Phycocyanin Market Analysis 2019-2023 and Forecast 2024-2032

12.1. Introduction
12.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
12.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2024-2032
- 12.3.1. By Country
  - 12.3.1.1. U.S.
  - 12.3.1.2. Canada
- 12.3.2. By Nature
- 12.3.3. By Form
- 12.3.4. By End Use
12.4. Market Attractiveness Analysis
- 12.4.1. By Country
- 12.4.2. By Nature
- 12.4.3. By Form
- 12.4.4. By End Use
12.5. Drivers and Restraints - Impact Analysis

13. Latin America Phycocyanin Market Analysis 2019-2023 and Forecast 2024-2032

13.1. Introduction
13.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
13.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2024-2032
- 13.3.1. By Country
  - 13.3.1.1. Brazil
  - 13.3.1.2. Mexico
  - 13.3.1.3. Rest of Latin America
- 13.3.2. By Nature
- 13.3.3. By Form
- 13.3.4. By End Use
13.4. Market Attractiveness Analysis
- 13.4.1. By Country
- 13.4.2. By Nature
- 13.4.3. By Form
- 13.4.4. By End Use
13.5. Drivers and Restraints - Impact Analysis

14. Europe Phycocyanin Market Analysis 2019-2023 and Forecast 2024-2032

14.1. Introduction
14.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
14.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2024-2032
- 14.3.1. By Country
  - 14.3.1.1. Germany
  - 14.3.1.2. Italy
  - 14.3.1.3. France
  - 14.3.1.4. U.K.
  - 14.3.1.5. Spain
  - 14.3.1.6. BENELUX
  - 14.3.1.7. Nordic
  - 14.3.1.8. Russia
  - 14.3.1.9. Poland
  - 14.3.1.10. Rest of Europe
- 14.3.2. By Nature
- 14.3.3. By Form
- 14.3.4. By End Use
14.4. Market Attractiveness Analysis
- 14.4.1. By Country
- 14.4.2. By Nature
- 14.4.3. By Form
- 14.4.4. By End Use
14.5. Drivers and Restraints - Impact Analysis

15. South Asia Phycocyanin Market Analysis 2019-2023 and Forecast 2024-2032

15.1. Introduction
15.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
15.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2024-2032
- 15.3.1. By Country
  - 15.3.1.1. India
  - 15.3.1.2. Thailand
  - 15.3.1.3. Indonesia
  - 15.3.1.4. Malaysia
  - 15.3.1.5. Rest of South Asia
- 15.3.2. By Nature
- 15.3.3. By Form
- 15.3.4. By End Use
15.4. Market Attractiveness Analysis
- 15.4.1. By Country
- 15.4.2. By Nature
- 15.4.3. By Form
- 15.4.4. By End Use
15.5. Drivers and Restraints - Impact Analysis

16. East Asia Phycocyanin Market Analysis 2019-2023 and Forecast 2024-2032

16.1. Introduction
16.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
16.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2024-2032
- 16.3.1. By Country
  - 16.3.1.1. China
  - 16.3.1.2. Japan
  - 16.3.1.3. South Korea
- 16.3.2. By Nature
- 16.3.3. By Form
- 16.3.4. By End Use
16.4. Market Attractiveness Analysis
- 16.4.1. By Country
- 16.4.2. By Nature
- 16.4.3. By Form
- 16.4.4. By End Use
16.5. Drivers and Restraints - Impact Analysis

17. Oceania Phycocyanin Market Analysis 2019-2023 and Forecast 2024-2032

17.1. Introduction
17.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
17.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2024-2032
- 17.3.1. By Country
  - 17.3.1.1. Australia
  - 17.3.1.2. New Zealand
- 17.3.2. By Nature
- 17.3.3. By Form
- 17.3.4. By End Use
17.4. Market Attractiveness Analysis
- 17.4.1. By Country
- 17.4.2. By Nature
- 17.4.3. By Form
- 17.4.4. By End Use
17.5. Drivers and Restraints - Impact Analysis

18. Middle East and Africa Phycocyanin Market Analysis 2019-2023 and Forecast 2024-2032

18.1. Introduction
18.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2019-2023
18.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2024-2032
- 18.3.1. By Country
  - 18.3.1.1. GCC Countries
  - 18.3.1.2. South Africa
  - 18.3.1.3. Rest of Middle East and Africa
- 18.3.2. By Nature
- 18.3.3. By Form
- 18.3.4. By End Use
18.4. Market Attractiveness Analysis
- 18.4.1. By Country
- 18.4.2. By Nature
- 18.4.3. By Form
- 18.4.4. By End Use
18.5. Drivers and Restraints - Impact Analysis

19. Market Structure Analysis

19.1. Market Analysis by Tier of Companies
19.2. Market Concentration
19.3. Market Presence Analysis

20. Competition Analysis

20.1. Competition Dashboard
20.2. Competition Deep Dive
- 20.2.1. Cyanotech Corporation
  - 20.2.1.1. Overview
  - 20.2.1.2. Product Portfolio
  - 20.2.1.3. Production Footprint
  - 20.2.1.4. Sales Footprint
  - 20.2.1.5. Strategy Overview
- 20.2.2. Cyanotech Corporation
- 20.2.3.DDW Inc.
- 20.2.4.DIC Corporation
- 20.2.5.C.B.N. Bio-engineering Co., Ltd
- 20.2.6.Fuqing King Dnarmsa Spirulina Co., Ltd.
- 20.2.7.Fraken Biochem Co., Ltd.
- 20.2.8.Japan Algae Co., Ltd.
- 20.2.9.Parry Nutraceuticals
- 20.2.10.Chr. Hansen Holding A/S
- 20.2.11.Naturex S.A.
- 20.2.12.Far East Bio-Tec Co., Ltd.
- 20.2.13.NutraCulture
- 20.2.14.Merck KGaA
- 20.2.15.Tianjin Norland Biotech Co., Ltd.
- 20.2.16.Bluetec Naturals Co., Ltd
- 20.2.17.Wellisen Nutraceuticals Pvt. Ltd.
- 20.2.18.Sensient Technologies Corporation
- 20.2.19.GNT Group B.V.
- 20.2.20.AlgoSource
- 20.2.21.Zhejiang Binmei Biotechnology Co., Ltd