Soaring Demand for Phycocyanin in Various End-Use
Industries and Trending Shift towards Natural Ingredients Will
Propel the Overall Growth of Phycocyanin Market
Research Nester published a report titled “Phycocyanin Market:
Global Demand Analysis & Opportunity Outlook 2028” which
delivers a detailed overview of the phycocyanin market in terms of market
segmentation by nature, by form, by grade, by application, and by region.
Further, for the in-depth analysis, the report encompasses the industry
growth drivers, restraints, supply and demand risk, market attractiveness,
BPS analysis, and Porter’s five force model.
Phycocyanin is a kind of light-based protein pigment generally extracted
from organic spirulina which not only offers natural food coloring but also
has numerous health benefits. Growing awareness around the toxic effects
of synthetic compounds has heightened the product penetration in
medical, cosmetics, and nutraceuticals industries which shall further
accelerate the industry growth.
The phycocyanin market is anticipated to witness an achievable high
CAGR during the forecast period, i.e., 2020-2028. The market is
segmented by nature, form, grade, and application. Among product form,
the powder segment is projected to hold the leading market share owing
to its fast break-down and great ease of digestion in comparison to other
forms. Among product applications, the food & beverage segment is
expected to register the leading position in the global market as a result of
its wide application in the industry, escalating consumer demand as it’s a
clean ingredient, increasing curiosity among the vegan population, and
raising alertness about a natural lifestyle. The nutraceuticals segment in
the application type is projected to grow at the fastest speed owing to
several benefits particularly muscle enhancement.
Regionally, the phycocyanin market is segmented into five major regions
including North America, Europe, Asia Pacific, Latin America, and the
Middle East & Africa region.