Product Code: GVR-4-68040-248-4
Phycocyanin Market Growth & Trends:
The global phycocyanin market size is anticipated to reach USD 276.4 million by 2030 and is anticipated to expand at a CAGR of 6.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. The multifunctional properties of phycocyanin for further utilization in food & beverage formulations have contributed to the market growth. Apart from imparting colors to food products, colors with flavor infusions and health benefits are anticipated to be future growth trends in the industry. Similarly, high preference for sugar-free products due to growing concerns of obesity and diabetes, are rising globally. The declaration of sugar added in food products is a labeling mandate by the FDA, as naturally derived colors from vegetable and fruit sources comprise sugar.
Thus, there will be a high demand for sugar-free natural colors, thereby augmenting the market growth. The natural food ingredients are mainly sourced from crops; wherein limited availability of these raw materials results in high prices of these products. Farmers are thus inclined towards precision farming to increase crop production and lower the dependence on seasonal crops. In addition, the lack of consistency in key regulations related to natural ingredients by the U.S. FDA, SENASA, WHO, CFIA, and EU, can act as a challenge in the industry and influence manufacturing and distribution.
Phycocyanin Market Report Highlights:
- The organic segment is expected to register the fastest CAGR of more than 7.5% from 2024 to 2030 owing to rising consumer preference for organic food & beverages and dietary supplements
- The liquid form segment will register the fastest CAGR of approximately 7% from 2024 to 2030 due to its ease of application as natural colors and growing demand from developed economies, especially in Europe
- Asia Pacific witnessed the fastest CAGR of 7.3% from 2024 to 2030 due to the rapidly growing food & beverage industry in the emerging economies of India and China, coupled with the presence of domestic and regional stakeholders
- The personal care & cosmetics segment will witness the fastest CAGR from 2024 to 2030 due to the natural composition of phycocyanin leading to low allergic reactions to cosmetic products
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Information Procurement
- 1.2.1. Purchased Database
- 1.2.2. GVR's Internal Database
- 1.2.3. Secondary Sources & Third-Party Perspectives
- 1.2.4. Primary Research
- 1.3. Information Analysis
- 1.3.1. Data Analysis Models
- 1.4. Market Formulation & Data Visualization
- 1.5. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segment Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. Phycocyanin Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent Market Outlook
- 3.2. Industry Value Chain Analysis
- 3.2.1. Manufacturing Trends
- 3.2.2. Technology Trends
- 3.2.3. Sales Channel Analysis
- 3.2.4. List of Potential End-users
- 3.3. Price Trend Analysis, 2018 - 2030 (USD/Kg)
- 3.3.1. Factors Influencing Prices
- 3.4. Supply Portfolio Analysis
- 3.4.1. Raw Material Trends
- 3.4.2. List of Key Raw Material Suppliers
- 3.4.3. Kraljic Matrix
- 3.4.4. Negotiating Strategies
- 3.4.5. Engagement Model
- 3.4.6. Sourcing Best Practices
- 3.5. Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.2. Market Restraint Analysis
- 3.5.3. Industry Challenges
- 3.5.4. Industry Opportunities
- 3.6. Industry Analysis Tools
- 3.6.1. Porter's Five Forces Analysis
- 3.6.1.1. Bargaining Power of Buyers
- 3.6.1.2. Bargaining Power of Suppliers
- 3.6.1.3. Competitive Rivalry
- 3.6.1.4. Threat of Substitutes
- 3.6.1.5. Threat of New Entrants
- 3.6.2. Macro-environmental Analysis
- 3.6.2.1. Political Landscape
- 3.6.2.2. Economic Landscape
- 3.6.2.3. Social Landscape
- 3.6.2.4. Technology Landscape
- 3.6.2.5. Environmental Landscape
- 3.6.2.6. Legal Landscape
Chapter 4. Phycocyanin Market: Nature Estimates & Trend Analysis
- 4.1. Nature Movement Analysis & Market Share, 2023 & 2030
- 4.2. Phycocyanin Market Estimates & Forecast, By Nature, 2018 to 2030 (Kilotons) (USD Million)
- 4.3. Organic
- 4.3.1. Organic Phycocyanin Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 4.4. Conventional
- 4.4.1. Conventional Phycocyanin Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
Chapter 5. Phycocyanin Market: Form Estimates & Trend Analysis
- 5.1. Form Movement Analysis & Market Share, 2023 & 2030
- 5.2. Phycocyanin Market Estimates & Forecast, By Form, 2018 to 2030 (Kilotons) (USD Million)
- 5.3. Powder
- 5.3.1. Powder Phycocyanin Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.4. Liquid
- 5.4.1. Liquid Phycocyanin Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
Chapter 6. Phycocyanin Market: Grade Estimates & Trend Analysis
- 6.1. Grade Movement Analysis & Market Share, 2023 & 2030
- 6.2. Phycocyanin Market Estimates & Forecast, By Grade, 2018 to 2030 (Kilotons) (USD Million)
- 6.3. Phycocyanin E18
- 6.3.1. Phycocyanin E18 Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.4. Phycocyanin E25
- 6.4.1. Phycocyanin E25 Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.5. Phycocyanin E30
- 6.5.1. Phycocyanin E30 Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
Chapter 7. Phycocyanin Market: End-use Estimates & Trend Analysis
- 7.1. End-use Movement Analysis & Market Share, 2023 & 2030
- 7.2. Phycocyanin Market Estimates & Forecast, By End-use, 2018 to 2030 (Kilotons) (USD Million)
- 7.3. Food & Beverages
- 7.3.1. Phycocyanin Market Estimates and Forecasts, in Food & Beverages, 2018 - 2030 (Kilotons) (USD Million)
- 7.4. Personal Care & Cosmetics
- 7.4.1. Phycocyanin Market Estimates and Forecasts, in Personal Care & Cosmetics, 2018 - 2030 (Kilotons) (USD Million)
- 7.5. Pharmaceuticals
- 7.5.1. Phycocyanin Market Estimates and Forecasts, in Pharmaceuticals, 2018 - 2030 (Kilotons) (USD Million)
- 7.6. Animal Feed
- 7.6.1. Phycocyanin Market Estimates and Forecasts, in Animal Feed, 2018 - 2030 (Kilotons) (USD Million)
- 7.7. Others
- 7.7.1. Phycocyanin Market Estimates and Forecasts, in Other End-uses, 2018 - 2030 (Kilotons) (USD Million)
Chapter 8. Phycocyanin Market: Regional Estimates & Trend Analysis
- 8.1. Regional Movement Analysis & Market Share, 2023 & 2030
- 8.2. North America
- 8.2.1. North America phycocyanin market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 8.2.2. U.S.
- 8.2.2.1. Key country dynamics
- 8.2.2.2. U.S. phycocyanin market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 8.2.3. Canada
- 8.2.3.1. Key country dynamics
- 8.2.3.2. Canada phycocyanin market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 8.2.4. Mexico
- 8.2.4.1. Key country dynamics
- 8.2.4.2. Mexico phycocyanin market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 8.3. Europe
- 8.3.1. Europe phycocyanin market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 8.3.2. Germany
- 8.3.2.1. Key country dynamics
- 8.3.2.2. Germany phycocyanin market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 8.3.3. UK
- 8.3.3.1. Key country dynamics
- 8.3.3.2. UK phycocyanin market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 8.3.4. France
- 8.3.4.1. Key country dynamics
- 8.3.4.2. France phycocyanin market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 8.3.5. Italy
- 8.3.5.1. Key country dynamics
- 8.3.5.2. Italy phycocyanin market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 8.3.6. Spain
- 8.3.6.1. Key country dynamics
- 8.3.6.2. Spain phycocyanin market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 8.4. Asia Pacific
- 8.4.1. Asia Pacific phycocyanin market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 8.4.2. China
- 8.4.2.1. Key country dynamics
- 8.4.2.2. China phycocyanin market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 8.4.3. Japan
- 8.4.3.1. Key country dynamics
- 8.4.3.2. Japan phycocyanin market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 8.4.4. India
- 8.4.4.1. Key country dynamics
- 8.4.4.2. India phycocyanin market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 8.4.5. South Korea
- 8.4.5.1. Key country dynamics
- 8.4.5.2. South Korea phycocyanin market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 8.5. Central & South America
- 8.5.1. Central & South America phycocyanin market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 8.5.2. Brazil
- 8.5.2.1. Key country dynamics
- 8.5.2.2. Brazil phycocyanin market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 8.5.3. Argentina
- 8.5.3.1. Key country dynamics
- 8.5.3.2. Argentina phycocyanin market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 8.6. Middle East & Africa
- 8.6.1. Middle East & Africa phycocyanin market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 8.6.2. Saudi Arabia
- 8.6.2.1. Key country dynamics
- 8.6.2.2. Saudi Arabia phycocyanin market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 8.6.3. South Africa
- 8.6.3.1. Key country dynamics
- 8.6.3.2. South Africa phycocyanin market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
Chapter 9. Phycocyanin Market - Competitive Landscape
- 9.1. Key global players & recent developments & their impact on the industry
- 9.2. Company Categorization
- 9.3. Company Heat Map Analysis
- 9.4. Company Market Share Analysis, 2023 (%)
- 9.5. Strategy Mapping
- 9.6. Company Listing
- 9.6.1. Givaudan Sense Colour
- 9.6.1.1. Participant's Overview
- 9.6.1.2. Financial Performance
- 9.6.1.3. Product Benchmarking
- 9.6.1.4. Recent Developments
- 9.6.2. Cyanotech Corporation
- 9.6.2.1. Participant's Overview
- 9.6.2.2. Financial Performance
- 9.6.2.3. Product Benchmarking
- 9.6.2.4. Recent Developments
- 9.6.3. AlgoSource
- 9.6.3.1. Participant's Overview
- 9.6.3.2. Financial Performance
- 9.6.3.3. Product Benchmarking
- 9.6.3.4. Recent Developments
- 9.6.4. Bluetec Naturals Co., Ltd
- 9.6.4.1. Participant's Overview
- 9.6.4.2. Financial Performance
- 9.6.4.3. Product Benchmarking
- 9.6.4.4. Recent Developments
- 9.6.5. DIC Corporation
- 9.6.5.1. Participant's Overview
- 9.6.5.2. Financial Performance
- 9.6.5.3. Product Benchmarking
- 9.6.5.4. Recent Developments
- 9.6.6. Sigma-Aldrich Corporation
- 9.6.6.1. Participant's Overview
- 9.6.6.2. Financial Performance
- 9.6.6.3. Product Benchmarking
- 9.6.6.4. Recent Developments
- 9.6.7. Phyco-Biotech
- 9.6.7.1. Participant's Overview
- 9.6.7.2. Financial Performance
- 9.6.7.3. Product Benchmarking
- 9.6.7.4. Recent Developments
- 9.6.8. Japan Algae Co. Ltd.
- 9.6.8.1. Participant's Overview
- 9.6.8.2. Financial Performance
- 9.6.8.3. Product Benchmarking
- 9.6.8.4. Recent Developments
- 9.6.9. Arthrise Nutritionals LLC
- 9.6.9.1. Participant's Overview
- 9.6.9.2. Financial Performance
- 9.6.9.3. Product Benchmarking
- 9.6.9.4. Recent Developments
- 9.6.10. PARRY Nutraceuticals
- 9.6.10.1. Participant's Overview
- 9.6.10.2. Financial Performance
- 9.6.10.3. Product Benchmarking
- 9.6.10.4. Recent Developments