Phycocyanin Market to Reach $350.5 Million by 2031, Driven by Demand for Natural Colorants and Nutraceutical Applications

"Phycocyanin Market to Reach $350.5 Million by 2031, Driven by Demand for Natural Colorants and Nutraceutical Applications J

Phycocyanin Market 2024-2031 Meticulous Research , a leading global market intelligence provider, has released its latest report titled Phycocyanin Market Global Opportunity Analysis and Industry Forecast (2024 2031) . According to the report, the global phycocyanin market is expected to grow significantly, reaching $350.5 million by 2031, at a compound annual growth rate (CAGR) of 27.5% from 2024 to 2031. Download Sample Report Here: https://www.meticulousresearch.com/download-sample- report/cp_id=5126 Market Growth Drivers The growth of the phycocyanin market is propelled by the increasing use of phycocyanin in nutritional and nutraceutical products, along with the rising demand for natural blue colorants in the food and beverage industry. As consumers and companies alike shift away from synthetic coloring, phycocyanin has emerged as a preferred alternative due to its natural origin and health benefits. This shift is further supported by growing venture capital investments aimed at expanding phycocyanin production. However, despite its promising growth potential, the market faces challenges. The high cost of natural colorants, coupled with the substantial costs related to the extraction and purification of phycocyanin, presents hurdles for manufacturers. Additionally, the complexities surrounding algae production add further constraints. Yet, the market also offers significant opportunities, particularly in the pharmaceutical sector, where phycocyanin's potential applications are becoming increasingly evident. Furthermore, the growing consumer awareness of clean-label products is expected to drive continued demand for natural ingredients, presenting a lucrative opportunity for key market players. Key Market Players The phycocyanin market features a competitive landscape, with a mix of global, regional, and local players striving to capture market share. Leading companies operating in this sector include: AlgoSource SA (France) Bluetec Naturals Co., Ltd (China) DIC Corporation (Japan) Page 1 of 4 Meticulous Research| sales@meticulousresearch.com

Phycocyanin Market 2024-2031 E.I.D. - Parry (India) Limited (India) Fuqing King Dnarmsa Spirulina Co., Ltd. (China) Givaudan SA (Switzerland) GNT Group B.V. (Netherlands) Merck KGaA (Germany) Sensient Technologies Corporation (U.S.) Market Segmentation Insights The report delves into market segmentation based on form, grade, category, and application: By Form: The phycocyanin powder segment is anticipated to dominate the market, capturing an 81.8% share in 2024. Powdered phycocyanin offers multiple advantages, including longer shelf life, ease of handling, and superior stability against environmental factors like light, heat, and oxygen. This form is increasingly preferred across industries such as food and beverages, cosmetics, and pharmaceuticals due to its enhanced nutrient delivery and flexible dosing. By Grade: Food-grade phycocyanin is projected to hold the largest market share, driven by the global shift toward natural alternatives in the food and beverage sector. As awareness around the adverse effects of synthetic colorants grows, so too does the demand for clean-label products that use natural ingredients like phycocyanin. By Category: The organic phycocyanin segment is expected to witness the fastest growth during the forecast period. This growth is fueled by increasing consumer preference for organic and vegan-certified products, particularly in the food, nutraceutical, and cosmetics industries. Manufacturers are responding by expanding their organic product offerings to meet this rising demand. Page 2 of 4 Meticulous Research| sales@meticulousresearch.com

Phycocyanin Market 2024-2031 By Application: The food and beverage segment is set to dominate the phycocyanin market, accounting for 75.4% of market share in 2024. This is largely driven by the growing use of phycocyanin as a natural food colorant, as companies increasingly move away from synthetic dyes. With its non-toxic and non-carcinogenic properties, phycocyanin is gaining traction as a safer, healthier alternative. Regional Market Insights Europe is poised to maintain its dominant position in the global phycocyanin market, accounting for 34.8% of market share in 2024, followed by North America and Asia- Pacific. Europe s market leadership is driven by stringent regulations favoring natural food colorants, advancements in microalgae research, and the growing adoption of phycocyanin in the personal care and cosmetics sectors. The region s market is projected to reach USD 22.3 million by 2024. In addition to Europe, the Asia-Pacific region is expected to experience robust growth due to expanding food and beverage industries and increasing consumer awareness regarding the health benefits of natural products. Countries like China, India, and Japan are set to play pivotal roles in driving this growth. Future Outlook and Opportunities The report highlights significant opportunities within the pharmaceutical industry, where phycocyanin's potential applications are being increasingly recognized. As the demand for clean-label and natural products continues to grow, companies operating in the phycocyanin market are well-positioned to capitalize on this trend. With rising venture capital investments and advancements in algae production technology, the phycocyanin market is poised for continued innovation and expansion. As regulatory frameworks globally increasingly support the use of natural ingredients, the future outlook for the phycocyanin market remains promising. Quick Buy:- https://www.meticulousresearch.com/Checkout/40138087 About Meticulous Research Meticulous Research was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Page 3 of 4 Meticulous Research| sales@meticulousresearch.com

Phycocyanin Market 2024-2031 The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth. Contact Us: Meticulous Research Email- sales@meticulousresearch.com Contact Sales- +1-646-781-8004 Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research Page 4 of 4 Meticulous Research| sales@meticulousresearch.com