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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 HoursThe 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 |
|
|
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
By Grade
By Category
By Application
|
|
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.
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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