Phycocyanin Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

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Phycocyanin Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

Status : July, 2020 | Food and Beverages | PPT format

Report Digest


Phycocyanin Market: Overview

Phycocyanin has gained tremendous popularity among the global population in recent period. Growing consumer awareness about the side effects of using artificial dyes in beverages, food products, and skincare products is said to be one of the key reasons for this popularity among all. Phycocyanin is a natural dye used in many industries including personal care. Upward graph of retail foods and beverages sales in the U.S. is expected to offer remarkable demand for phycocyanin.

Based on applications, the phycocyanin market is segmented into food and beverages, medicines and pharmaceuticals, nutraceuticals, cosmetics, and biotechnology. Moreover, on the basis of products, the market is divided into organic and conventional.

Phycocyanin Market: Growth Dynamics

Phycocyanin is known for promoting the elastin synthesis process in body. It offers exceptional levels of essential amino acids.  Growing awareness about the anti-cancer effects of phycocyanin is supporting the growth in demand. Furthermore, demand for this product is expected grow in nutraceuticals industry in the upcoming period. The key reason for this increased demand is presence of numerous muscle enhancing properties in phycocyanin. In addition, plentiful antioxidants and nutrients in this photosynthetic pigment further increase its usefulness, thereby support demand growth.

In the recent times, governments are taking initiatives to promote organic products use. Various companies engaged in this market are growing investments for research and development activities to offer more improved products. This effort is strengthening the global Phycocyanin market. Besides, increasing innovations to develop various natural colors is expected to foster the further growth of this market. Superior health benefits and non-toxic nature are some additional qualities that will help the market to grow.

However, dependence of phycocyanin production on environmental factors is one of the key elements that can hamper the growth of this market. In addition, extreme temperature sensitiveness of this pigment is another concern that makes the market growth sluggish.

Phycocyanin Market: Competitive Landscape

The phycocyanin market holds remarkable growth opportunities. Numerous companies involved in this market chasing diverse strategies such as partnerships and collaborations. These strategies are helping them to strengthen their position. The market shows a promising future with an upward curve in the use of phycocyanin in the food industry.  Growing preference for the use of natural dyes over artificial colors in food items is expected to boost the phycocyanin market. Moreover, the entry of numerous new players into this market is expected to increase the competition level, thereby support its development in the upcoming period.

The competitive landscape of the Phycocyanin market is highly fragmented. Numerous companies are actively contributing to the growth of this market. The list of key players includes

  • Xian Natural Field Bio-Technique Co. Ltd
  • NutraCulture
  • Zhejiang Binmei Biotechnology Co., Ltd
  • Japan Algae Co. Ltd.,
  • Naturex,
  • AlgoSource
  • Natura
  • Wellisen
  • BLUETEC NATURALS Co.
  • Ever

Phycocyanin Market: Regional Assessment

Among the key regions, North America is one of the prominent regions. It offers tremendous growth opportunities for phycocyanin market. Presence of numerous companies manufacturing skincare and personal care products is one of the important reasons for this advancement. Moreover, growing preference of major population from this region for beauty products manufactured using natural and toxin-free colorings is supporting this market growth. Other regions showing positive outlook for the growth of the phycocyanin market are Europe and Asia Pacific.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.