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    Phycocyanin Market

    Phycocyanin Market Size, Share, Forecast, & Trends Analysis by Form (Powder, Liquid), Grade (Food-grade, Reagent grade, Cosmetic-grade Phycocyanin), Category (Non-Organic, Organic), Application (Food & Beverages, Pharmaceuticals)—Global Forecast to 2031

    Report ID:MRFB - 104430 Pages: 194 Sep-2024 Formats*: PDF Category: Food and Beverages Delivery: 24 to 48 Hours

    The Phycocyanin market was valued at $49.5 million in 2023. This market is expected to reach $350.5 million by 2031 from an estimated $64.1 million in 2024, at a CAGR of 27.5% during the forecast period from 2024 to 2031.

    Phycocyanin Market Size & Forecast

    The growth of this market is driven by the rising adoption of phycocyanin in nutraceutical and nutritional applications, a growing reluctance to use synthetic colors, increased demand for natural blue colorants from food and beverage manufacturers, and expanding venture investments in phycocyanin production. However, high prices of natural colorants, high costs of extracting and purifying phycocyanin, and complexities in algae production are expected to restrain the growth of this market. Furthermore, the high potential of phycocyanin in pharmaceutical applications and the increasing consumer awareness regarding clean-label products are expected to create market growth opportunities.

    Phycocyanin Market Growth Drivers

    Rising Demand for Natural Blue Colorants

    Phycocyanin is a pigment-protein complex synthesized by blue-green microalgae, such as Arthrospira (Spirulina). Primarily used as a natural coloring agent in the food industry, phycocyanin is approved by the U.S. Food and Drug Administration (FDA) for this purpose. This natural pigment demonstrates antioxidant activity both in vivo and in vitro, qualifying it as a nutraceutical compound. It is commonly used as a dietary supplement and exhibits various pharmacological properties. Additionally, phycocyanin is widely utilized as a natural blue dye in commercial applications within the food and cosmetics industries.

    The stability, safety, bioavailability, interactions with food matrix components, and health-promoting effects of phycocyanin drive its utilization in various applications. In the U.S. FDA Code of Federal Regulations, spirulina extract (phycocyanin) has been approved as a color additive and is exempt from certification. The demand for phycocyanin as a natural blue food colorant has grown exponentially in the past years, especially after the FDA’s 2013 approval of spirulina extract as a food colorant for gum and candy. In 2014, its applications were expanded to include frostings, ice cream and frozen desserts, dessert coatings and toppings, dry beverage mixes and powders, yogurts, custards, puddings, cottage cheese, gelatin, bread, and ready-to-eat cereals. In 2015, its use in coatings for dietary supplements and pharmaceuticals was also approved in the U.S., Europe, and Asia.

    In addition to its applications in the food and beverage industry, phycocyanin is used as a colorant in cosmetics, including lipsticks, eyeliners, and eye shadows. Due to its excellent health-related properties, phycocyanin holds significant potential in food technology as a safe food colorant, functional food additive, and nutraceutical and dietary supplement. Its mass production is both sustainable and relatively cost-effective. Consequently, the increasing demand for natural blue colorants is expected to drive the growth of the phycocyanin market.

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    Stringent Regulations for Synthetic Color Additives

    A synthetic color additive is any chemical dye, pigment, or substance used to impart color to food and beverages, drugs, and cosmetics. While these color additives are valued for enhancing the attractiveness and appeal of products, regulatory standards and labeling requirements for synthetic colors often restrict their use.

    Strict regulations established by federal agencies in various countries restrict the use of synthetic dyes in F&B products. In the U.S., the FDA is the primary body regulating food additives, including artificial food colors. Due to the potential health risks associated with synthetic dyes, regulatory authorities, including the FDA, have set maximum limits for their use in different food categories. These regulations have led to a reduction in the demand for synthetic food colorants. Additionally, the increasing health consciousness among consumers is contributing to the decline in synthetic food coloring demand. As a result, food manufacturers are increasingly focusing on natural alternatives to synthetic colors, given the adverse effects of synthetic dyes on human health.

    In the U.S., the FDA oversees synthetic color additives by listing new additives or new uses for existing additives that are deemed safe for their intended applications in the Code of Federal Regulations (CFR). The FDA conducts certification programs for batches of color additives, which must be certified before they can be sold, and monitors their use, including ensuring proper product labeling. Synthetic color additives used in food, drugs, and cosmetics must adhere to specific listing regulations issued by the FDA. The use of unlisted color additives, improper use of listed additives, or additives that do not meet purity and identity specifications can result in a product being deemed adulterated under the FD&C Act. Currently, the U.S. prohibits the addition of synthetic food colors in over 200 food products.

    In Europe, all additives, including colorants, must receive authorization under European legislation before they can be used in foods. Once authorized, food colors are listed in the permitted food additives as specified in Regulation EC 1333/2008, which also outlines their conditions of use.

    The preference for natural food colors over synthetic ones is rising due to increasing consumer awareness of the benefits of natural products and the health risks associated with synthetic colors. The health hazards linked to artificial ingredients used to boost food production have become a significant concern. Today, consumers' growing health consciousness and preference for environmentally friendly products are driving global demand for naturally sourced food products. Consequently, stringent regulations on artificial food colors are prompting food manufacturers to adopt natural colorants to maintain the visual appeal of processed food and beverage products. Phycocyanin, recognized as one of the safest natural color additives, is expected to see increased demand in the coming years, contributing to market growth.

    Phycocyanin Market Opportunity

    High Potential of Phycocyanin in Pharmaceutical Applications

    Phycocyanin has significant potential for use as a therapeutic drug across a range of clinical applications. It demonstrates various pharmacological effects, including antioxidant, anticancer, and anti-inflammatory properties, as well as photo-induced cytotoxicity and immune system stimulation. As a result, phycocyanin has emerged as a focal point in drug research. Its anticancer effects are notable, as it can inhibit the proliferation of cancer cells and induce cell death. Phycocyanin achieves its anticancer activity by blocking the tumor cell cycle and promoting both apoptosis and autophagy in tumor cells, positioning it as a promising anticancer agent.

    Additionally, some research studies suggest that phycocyanin may lower the levels of a protein secreted by COVID-19 patients that triggers cytokine storms (source: Tecnología en Marcha magazine). Despite its potential, phycocyanin is not yet used as an anticancer drug in clinical settings. While various studies have explored its targets and mechanisms, there is still insufficient information on the molecular mechanisms through which phycocyanin induces cancer cell death. Further research into the effects of phycocyanin on both cancer and normal cells is needed to develop effective strategies and broaden its pharmaceutical applications, thereby creating opportunities for market players.

    Phycocyanin Market Analysis: Key Findings

    The Phycocyanin Powder Segment to Dominate the Phycocyanin Market in 2024

    Based on form, the phycocyanin market is segmented into phycocyanin powder and liquid phycocyanin. In 2024, the phycocyanin powder segment is expected to account for the larger share of 81.8% of the phycocyanin market. The large number of powdered phycocyanin providers primarily drives the significant market share of this segment. The rising demand for phycocyanin powder across industries such as food and beverage, cosmetics, and pharmaceuticals is a key factor, as powdered phycocyanin offers several advantages. These include a longer shelf life, ease of handling, and greater stability to light, heat, and oxygen compared to other forms. Additionally, the powdered form facilitates effective nutrient delivery and provides high flexibility in dosing, further supporting the market's growth.

    However, the liquid phycocyanin segment is expected to register a higher CAGR of 29.6% during the forecast period. This segment's growth is attributed to the rising popularity of liquid phycocyanin, mainly in dietary supplements and personal care products, due to its benefits, such as its availability in ready-to-use formulations, more precise dosing, and flexibility in product developments.

    The Food-grade Phycocyanin Segment to Dominate the Phycocyanin Market in 2024

    Based on grade, the phycocyanin market is segmented into food-grade phycocyanin, cosmetic-grade phycocyanin, and reagent- and analytical-grade phycocyanin. In 2024, the food-grade phycocyanin segment is expected to account for the largest share of 75.4% of the phycocyanin market. This segment's large market share is primarily attributed to the rapidly expanding global food and beverage industry. The increasing use of phycocyanin as an alternative to synthetic colors, growing awareness of the adverse effects of synthetic colors, and rising demand for clean-label brands that emphasize natural colors are key drivers.

    However, the cosmetic-grade phycocyanin segment is anticipated to register the highest CAGR of 29.9% during the forecast period. This growth is driven by the increasing adoption of phycocyanin in the cosmetic industry, attributed to its therapeutic uses and minimal to negligible side effects.

    The Organic Phycocyanin Segment is Expected to Register the Highest CAGR During the Forecast Period

    Based on category, the phycocyanin market is segmented into organic and non-organic. The organic phycocyanin segment is expected to record a higher CAGR during the forecast period. The high growth of this segment is driven by the increasing number of companies offering organic-certified phycocyanin. Additionally, the rising demand for organic-certified phycocyanin from manufacturers in the food and beverage, nutraceutical, and cosmetic sectors—fueled by growing consumer awareness of product claims such as "organic" and "vegan"—is expected to further support the market's growth during the forecast period.

    The Food & Beverages Segment to Dominate the Phycocyanin Market in 2024

    Based on application, the phycocyanin market is segmented into food & beverages, pharmaceuticals & nutraceuticals, cosmetics, and diagnostics & biomedical. In 2024, the food & beverages segment is expected to account for the largest share of 75.4% of the phycocyanin market. The substantial market share of this segment is primarily due to the rapidly growing global F&B sector and the growing demand for phycocyanin as a natural food colorant. This demand is driven by increasing awareness of the health risks associated with synthetic food colorants. Additionally, the trend of substituting artificial colorants with natural alternatives, coupled with phycocyanin's non-toxic and non-carcinogenic properties, further supports the growth of this segment.

    However, the cosmetic segment is expected to record a higher CAGR of 29.9% during the forecast period. The rising demand for organic and natural cosmetic ingredients drives this segment's high growth. Moreover, increasing awareness about the potentially harmful effects of synthetic colorants in beauty products is boosting the demand for phycocyanin due to its zero to minimal side effects.

    Geographical Analysis

    Europe Dominates the Phycocyanin Market

    Based on geography, the phycocyanin market is majorly segmented into five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Europe is expected to account for the largest share of 34.8% of the phycocyanin market, followed by North America and Asia-Pacific. The European phycocyanin market is estimated to be worth USD 22.3 million in 2024. Europe's substantial market share can be attributed to several key factors, including advancements in microalgae research for health foods and dietary supplements and increasing demand for natural food colors driven by stringent regulations on synthetic colors in food and beverage products. Furthermore, the expansion of the cosmetic and personal care industries, coupled with the rising adoption of algae-derived natural colors in cosmetics, is expected to further boost market growth in the region.

    However, Asia-Pacific is expected to record the highest CAGR of 28.8% during the forecast period. This growth is driven by the presence of numerous local and regional stakeholders and the rapidly increasing demand for processed food products in emerging and developing countries such as India, China, Indonesia, and Thailand. Moreover, the expanding F&B, nutraceuticals, and cosmetics industries, along with the rising demand for phycocyanin within these sectors, are expected to present significant growth opportunities for market players in the region.

    Phycocyanin Market: Key Companies

    The report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted in the last three to four years. Some of the key players operating in the phycocyanin market are AlgoSource SA (France), Bluetec Naturals Co., Ltd (China), DIC Corporation (Japan), E.I.D. - Parry (India) Limited (India), Fuqing King Dnarmsa Spirulina Co., Ltd. (China), Givaudan SA (Switzerland), GNT Group B.V. (Netherlands), Hangzhou OuQi Food co., Ltd. (China), Inner Mongolia Rejuve Biotech Co., Ltd. (China), Japan Algae Co., Ltd. (Japan), Jiangshan Comp Spirulina Co., Ltd. (China), Merck KGaA (Germany), Phyco-Biotech Laboratories (France), Pond Technologies Inc. (Canada), Qingdao Haizhijiao Biotechnology Co., Ltd (China), Qingdao ZolanBio Co., Ltd. (China), Sensient Technologies Corporation (U.S.), SPIFORM (France), Tianjin Norland Biotech Co., Ltd. (China), Wellisen Nutraceuticals (U.S.), Xi’an Fengzu Biological Technology Co., Ltd. (FZBIOTECH) (China), Yunnan Green A Biological Project Co., Ltd. (China), and Zhejiang Binmei Biotechnology Co., Ltd (China).

    Phycocyanin Industry Overview: Latest Developments from Key Industry Players

    • In November 2022, GNT Group B.V. (Netherlands) received approval from the U.S. FDA for using spirulina extract in beverages.
    • In September 2022, DIC Corporation (Japan) invested USD 9 million in its subsidiaries, Earthrise Nutritionals, LLC (U.S.) and Hainan DIC Microalgae Co., Ltd. (China), to achieve zero wastewater discharge from their outdoor algae cultivation facilities by January 2023. This investment will support the introduction of new cultivation technologies for algae and mycelia.
    • In June 2022, DDW, Inc. partnered with Fermentalg (France), a company specializing in sustainable solutions and active ingredients from microalgae for nutrition, health, and the environment, to develop and launch Galdieria Blue Extract. This new product is anticipated to enter the market in the coming years.

    Phycocyanin Market Research Summary

    Particulars

    Details

    Number of Pages

    194

    Format

    PDF

    Forecast Period

    2024–2031

    Base Year

    2024

    CAGR (Value)

    27.5%

    Market Size (Value)

    USD 350.5 million by 2031

    CAGR (Volume)

    33.9%

    Market (Volume)

    4,815 Tons by 2031

    Segments Covered

    By Form

    • Phycocyanin Powder
    • Liquid Phycocyanin

    By Grade

    • Food-Grade Phycocyanin
    • Cosmetic-Grade Phycocyanin
    • Reagent- & Analytical-Grade Phycocyanin

    By Category

    • Organic
    • Non-organic

    By Application

    • Food & Beverages
    • Pharmaceuticals & Nutraceuticals
    • Cosmetics
    • Diagnostics & Biomedical

    Countries Covered

    North America (U.S., Canada), Europe (France, Germany, U.K., Italy, Spain, Netherlands, Denmark, Sweden, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, Thailand, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa (Egypt, Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa)

    Key Companies

    AlgoSource SA (France), Bluetec Naturals Co., Ltd (China), DIC Corporation (Japan), E.I.D. - Parry (India) Limited (India), Fuqing King Dnarmsa Spirulina Co., Ltd. (China), Givaudan SA (Switzerland), GNT Group B.V. (Netherlands), Hangzhou OuQi Food co., Ltd. (China), Inner Mongolia Rejuve Biotech Co., Ltd. (China), Japan Algae Co., Ltd. (Japan), Jiangshan Comp Spirulina Co., Ltd. (China), Merck KGaA (Germany), Phyco-Biotech Laboratories (France), Pond Technologies Inc. (Canada), Qingdao Haizhijiao Biotechnology Co., Ltd (China), Qingdao ZolanBio Co., Ltd. (China), Sensient Technologies Corporation (U.S.), SPIFORM (France), Tianjin Norland Biotech Co., Ltd. (China), Wellisen Nutraceuticals (U.S.), Xi’an Fengzu Biological Technology Co., Ltd. (FZBIOTECH) (China), Yunnan Green A Biological Project Co., Ltd. (China), and Zhejiang Binmei Biotechnology Co., Ltd (China)

    Key questions answered in the phycocyanin market report:

    Phycocyanin (PC) is a biologically active nutrient compound that is isolated from various microalgae and purified for application across multiple industries. Phycocyanin is obtained from different sources, such as Aphanizomenon, Spirulina, Phormidium, Lyngbya, Synechocystis, and Synechococcus. It is widely used in industries including food & beverage, cosmetics, pharmaceuticals, and nutraceuticals due to its antioxidant, anticancer, and anti-inflammatory properties.

    The Phycocyanin market study provides valuable insights, market sizes, and forecasts in terms of value and volume by grade, and geography. However, the study provides insights, market sizes, and forecasts only in terms of value based on form, category, and application.

    In terms of value, the phycocyanin market is projected to reach $350.5 million by 2031, at a CAGR of 27.5% during the forecast period.

    In 2024, the phycocyanin powder segment is expected to hold a major share of the phycocyanin market.

    The cosmetics segment is expected to witness the fastest growth during the forecast period of 2024–2031.

    The increasing adoption of phycocyanin for nutraceutical & nutritional applications, the reluctance toward the use of synthetic colors, the rising demand for natural blue colorants, and increasing venture investments in phycocyanin production are the key factors supporting the growth of this market. Moreover, the high potential of phycocyanin in pharmaceutical applications and the increasing consumer awareness regarding clean-label products create opportunities for players operating in this market.

    The key players operating in the phycocyanin market are AlgoSource SA (France), Bluetec Naturals Co., Ltd (China), DIC Corporation (Japan), E.I.D. - Parry (India) Limited (India), Fuqing King Dnarmsa Spirulina Co., Ltd. (China), Givaudan SA (Switzerland), GNT Group B.V. (Netherlands), Hangzhou OuQi Food co., Ltd. (China), Inner Mongolia Rejuve Biotech Co., Ltd. (China), Japan Algae Co., Ltd. (Japan), Jiangshan Comp Spirulina Co., Ltd. (China), Merck KGaA (Germany), Phyco-Biotech Laboratories (France), Pond Technologies Inc. (Canada), Qingdao Haizhijiao Biotechnology Co., Ltd (China), Qingdao ZolanBio Co., Ltd. (China), Sensient Technologies Corporation (U.S.), SPIFORM (France), Tianjin Norland Biotech Co., Ltd. (China), Wellisen Nutraceuticals (U.S.), Xi’an Fengzu Biological Technology Co., Ltd. (FZBIOTECH) (China), Yunnan Green A Biological Project Co., Ltd. (China), and Zhejiang Binmei Biotechnology Co., Ltd (China).

    Asia-Pacific is expected to witness significant growth during the forecast period of 2024–2031, mainly due to the presence of numerous local and regional stakeholders and the rapidly increasing demand for processed food products in emerging and developing economies such as India, China, Indonesia, and Thailand. Additionally, the expanding food and beverage, nutraceutical, and cosmetics industries in these countries, coupled with the rising demand for phycocyanin within these sectors.

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    1. Introduction
        1.1. Market Definition & Scope
        1.2. Market Ecosystem
        1.3. Currency
        1.4. Key Stakeholders

    2. Research Methodology
        2.1. Research Approach
        2.2. Process of Data Collection and Validation
            2.2.1. Secondary Research
            2.2.2. Primary Research/Interviews with Key Opinion Leaders from the Industry
        2.3. Market Sizing and Forecast
            2.3.1. Market Size Estimation Approach
            2.3.2. Growth Forecast Approach
        2.4. Assumptions for the Study

    3. Executive Summary
        3.1. Overview
        3.2. Segmental Analysis
            3.2.1. Phycocyanin Market Analysis, by Form
            3.2.2. Phycocyanin Market Analysis, by Grade
            3.2.3. Phycocyanin Market Analysis, by Category
            3.2.4. Phycocyanin Market Analysis, by Application
        3.3. Phycocyanin Market, by Regional Analysis
        3.4. Competitive Landscape & Market Competitors

    4. Market Insights
        4.1. Overview
        4.2. Factors Affecting Market Growth
            4.2.1. Drivers
                4.2.1.1. Increasing Adoption of Phycocyanin for Nutraceutical & Nutritional Applications
                4.2.1.2. Reluctance Toward the Use of Synthetic Colors
                    4.2.1.2.1. Stringent Regulations for Synthetic Color Additives
                    4.2.1.2.2. Health Hazards of Synthetic Colors
                4.2.1.3. Rising Demand for Natural Blue Colorants
                4.2.1.4. Increasing Venture Investments in Phycocyanin Production
            4.2.2. Restraints
                4.2.2.1. High Prices of Natural Colorants
                4.2.2.2. High Costs of Extracting and Purifying Phycocyanin
                4.2.2.3. Complexities in Algae Production
            4.2.3. Opportunities
                4.2.3.1. High Potential of Phycocyanin in Pharmaceutical Applications
                4.2.3.2. Increasing Consumer Awareness Regarding Clean-label Products
        4.3. Trend
        4.4. Sources of Phycocyanin
        4.5. Porters Five Forces Analysis
            4.5.1. Bargaining Power of Suppliers
            4.5.2. Bargaining Power of Buyers
            4.5.3. Threat of Substitutes
            4.5.4. Threat of New Entrants
            4.5.5. Degree of Competition
        4.6. Pricing Analysis
            4.6.1. Food-grade Phycocyanin
            4.6.2. Cosmetic-Grade Phycocyanin
            4.6.3. Reagent- & Analytical-Grade Phycocyanin
        4.7. Regional Analysis
            4.7.1. North America
            4.7.2. Europe
            4.7.3. Asia-Pacific
            4.7.4. Latin America
            4.7.5. Middle East & Africa
        4.8. Product Adoption Trends across Different Applications

    5. Phycocyanin Market Assessment—by Form
        5.1. Overview
        5.2. Phycocyanin Powder
        5.3. Liquid Phycocyanin

    6. Phycocyanin Market Assessment—by Grade
        6.1. Overview
        6.2. Food-grade Phycocyanin
        6.3. Reagent- & Analytical-grade Phycocyanin
        6.4. Cosmetic-grade Phycocyanin

    7. Phycocyanin Market Assessment—by Category
        7.1. Overview
        7.2. Non-Organic
        7.3. Organic

    8. Phycocyanin Market Assessment—by Application
        8.1. Overview
        8.2. Food & Beverage
            8.2.1. Dairy Products
            8.2.2. Confectionary Products
            8.2.3. Soft Drinks
            8.2.4. Other Food & Beverages
        8.3. Cosmetics
        8.4. Pharmaceuticals & Nutraceuticals
        8.5. Diagnostics and Biomedical

    9. Phycocyanin Market Assessment—by Geography
        9.1. Overview
        9.2. North America
            9.2.1. U.S.
            9.2.2. Canada
        9.3. Europe
            9.3.1. France
            9.3.2. Germany
            9.3.3. U.K.
            9.3.4. Italy
            9.3.5. Spain
            9.3.6. Netherlands
            9.3.7. Denmark
            9.3.8. Sweden
            9.3.9. Rest of Europe (RoE)
        9.4. Asia-Pacific
            9.4.1. China
            9.4.2. India
            9.4.3. Japan
            9.4.4. Australia
            9.4.5. Thailand
            9.4.6. Rest of Asia-Pacific (RoAPAC)
        9.5. Latin America
            9.5.1. Brazil
            9.5.2. Mexico
            9.5.3. Rest of Latin America (RoLATAM)
        9.6. Middle East & Africa
            9.6.1. Egypt
            9.6.2. Saudi Arabia
            9.6.3. South Africa
            9.6.4. UAE
            9.6.5. Rest of Middle East & Africa

    10. Competition Analysis
        10.1. Overview
        10.2. Key Growth Strategies
        10.3. Competitive Benchmarking
        10.4. Competitive Dashboard
            10.4.1. Industry Leaders
            10.4.2. Market Differentiators
            10.4.3. Vanguards
            10.4.4. Emerging Companies
        10.5. Market Ranking/Positioning Analysis of Key Players, 2023

    11. Company Profiles (Company Overview, Financial Overview, Product Portfolio, and Strategic Developments)
        11.1. AlgoSource SA
        11.2. Bluetec Naturals Co., Ltd
        11.3. DIC Corporation
        11.4. E.I.D. - Parry (India) Limited (A Subsidiary Of M/S. Ambadi Investments Limited)
        11.5. Fuqing King Dnarmsa Spirulina Co., Ltd.
        11.6. Givaudan SA
        11.7. GNT Group B.V.
        11.8. Hangzhou Ouqi Food co., Ltd.
        11.9. Inner Mongolia Rejuve Biotech Co., Ltd.
        11.10. Japan Algae Co., Ltd.
        11.11. Jiangshan Comp Spirulina Co., Ltd
        11.12. Merck KGaA
        11.13. Phyco-Biotech Laboratories
        11.14. Pond Technologies Inc.
        11.15. Qingdao Haizhijiao Biotechnology Co., Ltd.
        11.16. Qingdao Zaolanbio Co., Ltd.
        11.17. Sensient Technologies Corporation
        11.18. SPIFORM
        11.19. Tianjin Norland Biotech Co., Ltd
        11.20. Wellisen Nutraceuticals
        11.21. Yunnan Green A Biological Project Co., Ltd. (A Subsidiary of Yunnan Spirin Biotechnology Co. Ltd)
        11.22. Xi’an Fengzu Biological Technology Co., LTD. (FZBIOTECH)
        11.23. Zhejiang Binmei Biotechnology Co., Ltd
                   (Note: SWOT Analysis of Top 5 Companies Will Be Provided)

    12. Appendix
        12.1. Available Customization
        12.2. Related Reports
     

    List of Tables
    Table 1    Average Selling Prices of Food-grade Phycocyanin, by Country/Region, 2022–2031 (USD/Ton)
    Table 2    Average Selling Prices of Reagent- & Analytical-grade Phycocyanin, by Country/Region, 2022–2031 (USD/Ton)
    Table 3    Average Selling Prices of Cosmetic-grade Phycocyanin, by Country/Region, 2022–2031 (USD/Ton)
    Table 4    Global Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 5    Global Phycocyanin Powder Market, by Country, 2022–2031 (USD Million)
    Table 6    Global Liquid Phycocyanin Market, by Country, 2022–2031 (USD Million)
    Table 7    Global Phycocyanin Market, by Grade, 2022-2031 (USD Million)
    Table 8    Global Phycocyanin Market, by Grade, 2022-2031 (Tons)
    Table 9    Global Food-grade Phycocyanin Market, by Country, 2022-2031 (USD Million)
    Table 10    Global Food-grade Phycocyanin Market, by Country, 2022-2031 (Tons)
    Table 11    Global Reagent- & Analytical-grade Phycocyanin Market, by Country, 2022-2031 (USD Million)
    Table 12    Global Reagent- & Analytical-grade Phycocyanin Market, by Country, 2022-2031 (Tons)
    Table 13    Global Cosmetic-grade Phycocyanin Market, by Country, 2022-2031 (USD Million)
    Table 14    Global Cosmetic-grade Phycocyanin Market, by Country, 2022-2031 (Tons)
    Table 15    Global Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 16    Global Non-Organic Phycocyanin Market, by Country, 2022–2031 (USD Million)
    Table 17    Global Organic Phycocyanin Market, by Country, 2022–2031 (USD Million)
    Table 18    Global Phycocyanin Market, by Application, 2022-2031 (USD Million)
    Table 19    Global Phycocyanin Market for Food & Beverage, by Country, 2022-2031 (USD Million)
    Table 20    Global Phycocyanin Market for Cosmetics, by Country, 2022-2031 (USD Million)
    Table 21    Global Phycocyanin Market for Pharmaceuticals & Nutraceuticals, by Country, 2022-2031 (USD Million)
    Table 22    Global Phycocyanin Market for Diagnostics and Biomedical, by Country, 2022-2031 (USD Million)
    Table 23    Global Phycocyanin Market, by Country, 2022-2031 (USD Million)
    Table 24    Global Phycocyanin Market, by Country, 2022-2031 (Tons)
    Table 25    North America: Phycocyanin Market, by Country, 2022-2031 (USD Million)
    Table 26    North America: Phycocyanin Market, by Country, 2022-2031 (Tons)
    Table 27    North America: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 28    North America: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 29    North America: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 30    North America: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 31    North America: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 32    U.S.: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 33    U.S.: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 34    U.S.: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 35    U.S.: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 36    U.S.: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 37    Canada: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 38    Canada: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 39    Canada: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 40    Canada: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 41    Canada: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 42    Europe: Phycocyanin Market, by Country/Region, 2022-2031 (USD Million)
    Table 43    Europe: Phycocyanin Market, by Country/Region, 2022-2031 (Tons)
    Table 44    Europe: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 45    Europe: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 46    Europe: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 47    Europe: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 48    Europe: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 49    France: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 50    France: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 51    France: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 52    France: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 53    France: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 54    Germany: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 55    Germany: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 56    Germany: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 57    Germany: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 58    Germany: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 59    U.K.: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 60    U.K.: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 61    U.K.: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 62    U.K.: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 63    U.K.: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 64    Italy: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 65    Italy: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 66    Italy: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 67    Italy: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 68    Italy: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 69    Spain: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 70    Spain: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 71    Spain: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 72    Spain: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 73    Spain: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 74    Netherlands: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 75    Netherlands: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 76    Netherlands: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 77    Netherlands: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 78    Netherlands: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 79    Denmark: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 80    Denmark: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 81    Denmark: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 82    Denmark: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 83    Denmark: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 84    Sweden: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 85    Sweden: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 86    Sweden: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 87    Sweden: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 88    Sweden: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 89    Rest of Europe: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 90    Rest of Europe: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 91    Rest of Europe: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 92    Rest of Europe: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 93    Rest of Europe: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 94    Asia-Pacific: Phycocyanin Market, by Country/Region, 2022-2031 (USD Million)
    Table 95    Asia-Pacific: Phycocyanin Market, by Country/Region, 2022-2031 (Tons)
    Table 96    Asia-Pacific: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 97    Asia-Pacific: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 98    Asia-Pacific: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 99    Asia-Pacific: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 100    Asia-Pacific: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 101    China: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 102    China: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 103    China: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 104    China: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 105    China: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 106    India: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 107    India: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 108    India: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 109    India: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 110    India: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 111    Japan: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 112    Japan: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 113    Japan: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 114    Japan: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 115    Japan: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 116    Australia: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 117    Australia: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 118    Australia: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 119    Australia: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 120    Australia: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 121    Thailand: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 122    Thailand: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 123    Thailand: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 124    Thailand: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 125    Thailand: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 126    Rest of Asia-Pacific: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 127    Rest of Asia-Pacific: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 128    Rest of Asia-Pacific: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 129    Rest of Asia-Pacific: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 130    Rest of Asia-Pacific: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 131    Latin America: Phycocyanin Market, by Country/Region, 2022-2031 (USD Million)
    Table 132    Latin America: Phycocyanin Market, by Country/Region, 2022-2031 (Tons)
    Table 133    Latin America: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 134    Latin America: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 135    Latin America: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 136    Latin America: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 137    Latin America: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 138    Brazil: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 139    Brazil: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 140    Brazil: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 141    Brazil: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 142    Brazil: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 143    Mexico: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 144    Mexico: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 145    Mexico: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 146    Mexico: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 147    Mexico: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 148    Rest of Latin America: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 149    Rest of Latin America: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 150    Rest of Latin America: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 151    Rest of Latin America: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 152    Rest of Latin America: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 153    Middle East & Africa: Phycocyanin Market, by Country/Region, 2022-2031 (USD Million)
    Table 154    Middle East & Africa: Phycocyanin Market, by Country/Region, 2022-2031 (Tons)
    Table 155    Middle East & Africa: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 156    Middle East & Africa: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 157    Middle East & Africa: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 158    Middle East & Africa: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 159    Middle East & Africa: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 160    Egypt: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 161    Egypt: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 162    Egypt: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 163    Egypt: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 164    Egypt: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 165    Saudi Arabia: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 166    Saudi Arabia: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 167    Saudi Arabia: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 168    Saudi Arabia: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 169    Saudi Arabia: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 170    South Africa: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 171    South Africa: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 172    South Africa: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 173    South Africa: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 174    South Africa: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 175    UAE: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 176    UAE: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 177    UAE: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 178    UAE: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 179    UAE: Phycocyanin Market, by Application, 2022–2031 (USD Million)
    Table 180    Rest of Middle East & Africa: Phycocyanin Market, by Form, 2022–2031 (USD Million)
    Table 181    Rest of Middle East & Africa: Phycocyanin Market, by Grade, 2022–2031 (USD Million)
    Table 182    Rest of Middle East & Africa: Phycocyanin Market, by Grade, 2022–2031 (Tons)
    Table 183    Rest of Middle East & Africa: Phycocyanin Market, by Category, 2022–2031 (USD Million)
    Table 184    Rest of Middle East & Africa: Phycocyanin Market, by Application, 2022–2031 (USD Million)    


    List of Figures
    Figure 1    Research Process
    Figure 2    Secondary Sources Referenced for this Study
    Figure 3    Primary Research Techniques
    Figure 4    Key Executives Interviewed
    Figure 5    Breakdown of Primary Interviews (Supply Side & Demand Side)
    Figure 6    Market Sizing and Growth Forecast Approach
    Figure 7    In 2024, the Phycocyanin Powder Segment to Dominate the Global Phycocyanin Market
    Figure 8    In 2024, the Food Grade Phycocyanin Segment to Dominate the Global Phycocyanin Market
    Figure 9    In 2024, the Non-Organic Segment to Dominate the Global Phycocyanin Market
    Figure 10    In 2024, the Food & Beverages Segment to Dominate the Overall Phycocyanin Market
    Figure 11    Europe Dominates the Overall Phycocyanin Market, While Asia-Pacific Leads in Growth
    Figure 12    Impact Analysis of Market Dynamics
    Figure 13    Phycocyanin Market: Porter’s Five Forces Analysis
    Figure 14    Global Phycocyanin Market, by Form, 2024 Vs. 2031 (USD Million)
    Figure 15    Global Phycocyanin Market, by Grade, 2024 Vs. 2031 (USD Million)
    Figure 16    Global Phycocyanin Market, by Grade, 2024 Vs. 2031 (Tons)
    Figure 17    Global Phycocyanin Market, by Category, 2024 Vs. 2031 (USD Million)
    Figure 18    Global Phycocyanin Market, by Application, 2024 Vs. 2031 (USD Million)
    Figure 19    North America: Phycocyanin Market Snapshot (2024)
    Figure 20    Europe: Phycocyanin Market Snapshot (2024)
    Figure 21    Asia-Pacific: Phycocyanin Market Snapshot (2024)
    Figure 22    Latin America: Phycocyanin Market Snapshot (2024)
    Figure 23    Middle East & Africa: Phycocyanin Market Snapshot (2024)
    Figure 24    Key Growth Strategies Adopted by Leading Players (2021–2024)
    Figure 25    Global Phycocyanin Market Competitive Benchmarking, by Application
    Figure 26    Competitive Dashboard: Global Phycocyanin Market
    Figure 27    Global Phycocyanin Market Ranking/Positioning of Key Players, 2023
    Figure 28    DIC Corporation: Financial Overview (2023)
    Figure 29    E.I.D. - Parry (India) Limited: Financial Overview (2024)
    Figure 30    Givaudan SA: Financial Overview (2023)
    Figure 31    Merck KGaA: Financial Overview (2023)
    Figure 32    Sensient Technologies Corporation: Financial Overview (2023)

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    Author Name:

    Shubham Lawande, Prashant Bombe

    Related Tag: Phycocyanin Market natural blue natural blue pigment spirulina blue spirulina extract organic
    Algae Products
    Food and Beverages

    The Phycocyanin Market is projected to reach $279.6 million by 2030, at a CAGR of 28.1% during the forecast period 2023–2030. In terms of volume, this market is projected to reach 3,587.2 tons by 2030, at a CAGR of 33.8% from 2023 to 2030. The growth of this market is driven by the increasing adoption of phycocyanin for nutraceutical & nutritional applications, the reluctance toward the use of synthetic colors, the rising demand for natural blue colorants, and increasing venture investments in phycocyanin production. Additionally, the high potential of phycocyanin in pharmaceutical applications and the increasing consumer awareness regarding clean-label products are further expected to provide growth opportunities for the players operating in the global phycocyanin market. However, the high prices of natural colorants, high costs of extracting and purifying phycocyanin, and complexities in algae production restrain the growth of this market.

    Here are the top 10 companies operating in the Phycocyanin Market

    DIC Corporation

    Founded in 1908 and headquartered in Tokyo, Japan, DIC specializes in the manufacturing of printing inks and also produces organic pigments and synthetic resins. The company offers its products to the automotive, electronics, food, and housing industries. It operates in three business segments, namely, Packaging & Graphic, Functional Products, and Color & Display. The Color & Display segment offers spirulina and phycocyanin.

    DIC has a broad portfolio of microalgae. It offers microalgae products, including spirulina and phycocyanin in the form of powder and tablets, through its subsidiaries Earthrise Nutritionals, LLC (U.S.), Sun Chemical Corporation (U.S.), and Hainan DIC Microalgae Co., Ltd. (China).

    Givaudan SA

    Founded in 1895 and headquartered in Vernier, Switzerland, Givaudan manufactures flavors, fragrances, and active cosmetic ingredients. The company operates through two business segments, namely, Taste & Wellbeing and Fragrance & Beauty. Further, it offers phycocyanin products through its two subsidiaries Naturex S.A. (France) and DDW, Inc. (U.S.).

    Naturex S.A. is engaged in sourcing, producing, and selling natural ingredients for the food, health, and beauty sectors. The company’s new extraction line has boosted its spirulina production capacity. This expansion of Naturex’s manufacturing capacity has been designed to meet the growing global demand for clean-label blues and greens.

    DDW is engaged in the production and distribution of caramel color and natural color solutions for food & beverage applications. The company offers natural colors derived from agricultural, biological, or mineral sources.

    GNT Group B.V.

    Founded in 1978 and headquartered in Mierlo, Netherlands, GNT Group is engaged in the production of natural food colors. The company offers a wide range of natural food colors mainly derived from fruits, vegetables, and edible plants through physical processing methods. It is internationally renowned for its EXBERRY, a leading global brand in coloring foods.

    The company offers more than 400 color shades through this brand, suitable for all food and drink, including confectionery, dairy and bakery products, soft and alcoholic beverages, and savory applications. As of 2020, EXBERRY is used by more than 2,000 food and beverage companies.

    E.I.D. – Parry (India) Limited

    Founded in 1788 and headquartered in Tamil Nadu, India, E.I.D. – Parry is engaged in manufacturing sugar, biopesticides, and nutraceuticals. The company has four product segments, namely, Sugar, Cogeneration, Distillery, and Nutraceuticals. The Nutraceuticals segment offers organic spirulina, chlorella, astaxanthin, and microalgal products.

    E.I.D. offers its products to the confectionery, bakery, beverages, and dairy industries. The company offers organic spirulina products such as phycocyanin in the nutraceuticals space.

    Zhejiang Binmei Biotechnology Co.,Ltd

    Founded in 2013 and headquartered in Zhejiang Province, China, Zhejiang Binmei Biotechnology manufacturers high-quality and reliable powder, liquid, and oil-soluble spirulina extracts (phycocyanin), Carthamus, safflower, and trehalose. The company offers its products to the food, health, cosmetics, and pharmaceutical industries.

    Zhejiang Binmei has obtained 8 technical patents in marine biology and has an independent intellectual property right for spirulina extraction. The company manufactures four grades of phycocyanin: food, cosmetic, medical, and reagent, and provides both spirulina protein powder and blue spirulina liquid extract with patent certifications. Further, Zhejiang Binmei’s current annual production capacity comprises 200 tons of phycocyanin, 200 tons of spirulina liquid extract, and 500 tons of spirulina powder.

    Yunnan Green A Biological Project Co., Ltd. (A Subsidiary of Yunnan Spirin Biotechnology Co. Ltd)

    Founded in 1997 and headquartered in Kunming, China, Yunnan Green is engaged in developing, breeding, producing, and marketing microalgae-based health products. The company’s annual microalgae production capacity, comprising the production of spirulina, chlorella, and Haematococcus pluvialis, is 3,000.0 metric tons.

    Yunnan Green offers its products in the form of powder, tablets, and extract-phycocyanin to the healthcare, medicine, cosmetics, and food industries. The company provides powdered-form spirulina extract phycocyanin for food & beverages. It is also used as a colorant in cosmetics.

    Bluetec Naturals Co., Ltd

    Founded in 1998 and headquartered in Inner Mongolia, China, Bluetec Naturals supplies algal products. The company produces around 500 tons of spirulina and provides phycocyanin and spirulina extracts. In 2016, the company developed an innovative technology to extract phycocyanin from spirulina. Additionally, the company also provides chlorella and astaxanthin.

    The company offers its products to the food, cosmetic, and pharmaceutical industries and produces phycocyanin to meet customers’ custom requirements. Bluetec Naturals also produces blue spirulina, spirulina extract, and phycocyanin products according to special formulations from its customers.

    Merck KGaA

    Founded in 1668 and headquartered in Hesse, Germany, Merck KGaA is a science and technology company. It operates through three business segments, namely, Healthcare, Life Science, and Electronics. The company offers phycocyanin products through its Life Science segment.

    The Life Science business segment operates through three sub-segments, namely, Process Solutions, Research Solutions, and Applied Solutions. The company offers its products to various industries, such as pharmaceuticals, research, food & beverages, materials science & engineering, protein, and clinical & diagnostics. Further, Merck provides phycocyanin products in both lyophilized powder and liquid form through its brand Sigma-Aldrich.

    AlgoSource

    Founded in 1993 and headquartered in Saint-Nazaire, France, AlgoSource offers an end-to-end range of services, such as production engineering, value creation, and the industrial development of microalgae. The company is engaged in microalgae production within controlled systems, biorefinery engineering, and creating and selling natural products such as Spirulina, Chlorella, and Phycocyanin.

    AlgoSource specializes in phycocyanin-based products and cold extraction technologies. With its expertise, the company has developed an exclusive extraction technology to optimize concentration and obtain high-value molecules to provide functional ingredients for nutraceuticals, cosmetics, and health applications.

    Phyco-Biotech Laboratories

    Founded in 2011 and headquartered in Montpellier, France, Phyco-Biotech is engaged in producing and distributing pharmaceutical products and innovative natural food supplements for therapeutic purposes and organic cosmetics. The company has expertise in extracting and purifying phycobiliproteins and developing fluorescent labels for medical diagnosis.

    Phyco-Biotech produces four types of phycobiliproteins in precipitated and lyophilized forms. Further, it provides phycocyanin in powder form obtained through lyophilization.

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