The global phycocyanin market will be largely influenced by substantial traction for phycocyanin as a naturally sourced ingredient in food products, beverages, cosmetics, and animal feed. A new Fact.MR study suggests that the thriving demand for clean label ingredients in F&B and personal care products will heavily contribute towards market growth in the near future.
“Food processors are leveraging the nutritional properties of phycocyanin by sourcing the pigment from spirulina. Successful outcomes of this would help them solidify their market positioning over competition,” says Fact.MR.
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Key Takeaways from the Phycocyanin Market Study
- Conventional phycocyanin outsells other variants
- Demand for powdered phycocyanin is set to grow 1.9X, with key applications emerging in cosmetics and beverage products
- Spirulina-based phycocyanin is witnessing a surge in adoption, on the back of FDA approvals
- Europe remains the largest market for phycocyanin globally
Phycocyanin Market: Key Drivers
- Greater emphasis on nutritional profile is bolstering demand for spirulina based phycocyanin within food and nutraceuticals sectors
- Regulatory ban on synthetic ingredients across Europe will remain a significant contributor towards global market growth
- Phycocyanin hypolipidemic, anti-oxidant, and anti-inflammatory properties continue to gain traction in healthcare application areas
- Increasing consumer concerns over food safety and growing awareness about potential side effects from synthetic additives are working in favor of market growth
Key Constraints for Phycocyanin Market
- Increasing stringency of production standards in terms of traceability, supply, and controlled environments stands an impediment to market growth.
- Demand-supply imbalance remains a longstanding challenge liming the growth of phycocyanin market.
- Pond sources of phycocyanin are at a high risk of contamination, posing a major challenge facing phycocyanin market.
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Targeting rapid expansion of F&B and personal care & cosmetics industries, major players operating in the phycocyanin market are focusing on expansion in fast developing economies. Investments in new production bases will primarily remain concentrated in India and China, on the solid ground of low labor costs. This Fact.MR report covers some of the prominent players operating in the global phycocyanin market, which include Chr. Hansen Holding A/S, DDW Inc., DIC Corporation, Sensient Technologies Corp., GNT Holding B.V., Parry Nutraceuticals Ltd., and Naturalin Bio-Resources Co. Ltd.
About the Report
A comprehensive, 200-page report that offers detailed market analysis by type (cellulose, hemicellulose, chitin and chitosan, lignin, fiber/bran, and resistant starch), source (fruits, vegetables), application (pet food, functional food & beverages, pharmaceutical & dietary supplements) across 30+ countries in six major regions.
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Fact.MR’s Food & Beverages domain helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million plus data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.