Yahoo Finance Phycocyanin Market Size, share 2022, Top Leading Countries, Market Revenue, Industry Forecast 2028 - Research by Exactitude Consultancy
Top Companies covered in Phycocyanin market are Bluetec Naturals Co., DDW Inc., DIC Corporation, Earthrise Nutritionals LLC, Japan Algae Co. Ltd., Parry Nutraceuticals, Phyco-Biotech Laboratories, Qingdao ZolanBio Co. Ltd., Sigma-Aldrich Corporation, and Yunnan Green a Biological Project Co. Ltd
Luton, Bedfordshire, United Kingdom, July 01, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the global phycocyanin market. The global phycocyanin market size is expected to grow at more than 9.4% CAGR from 2021 to 2029. It is expected to reach above USD 400 million by 2029 from USD 140.67 million in 2020.
Due to the growing demand for natural products, phycocyanin demand in industries such as beverage, food, animal feed, pet food, cosmetics and nutraceutical has increased. Phycocyanin is considered as super food as it is a naturally grown food with highest amount of protein. Natural health benefits of phycocyanin lowers the LDL cholesterol and raises HDL cholesterol in the body. Additionally, phycocyanin also helps in preventing medical conditions such as macular degeneration and arthritis.
Phycocyanin provides high levels of essential amino acids, promotes the synthesis of elastin in the body and has anti-cancer effects. The product forms an important part of nutraceuticals industry owing to the presence of several nutrients, antioxidants and muscle enhancing properties. Growing government initiatives towards the use of organic products and increasing innovations in the development of varieties of natural colors shall foster the phycocyanin market growth.
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Global organic phycocyanin from pharmaceutical applications is likely to exceed USD 1.5 million by 2028 on account of increasing popularity of the product for its several potential health benefits. It offers therapeutic effects for treating diabetes, cancer and other cardiovascular problems.
Global conventional phycocyanin industry from drinks is expected to record gains of about 8% during the forecast timespan pertaining to the growing consumer preference towards ready to drink beverages.
As the F&B industry is rapidly growing, manufacturers are increasing the production of indoor-grown, high-quality, and pure phycocyanin. To achieve this, they are growing their own spirulina algae in custom-growing facilities to extract five times more algae as compared to extracting phycocyanin from open pond systems, which also serves as a cost-effective option for them.
Industry Insights:
ORLANDO, Fla.-- Florida-based Valensa International announced today a joint venture agreement between Valensa's parent company EID Parry, and Synthite Industries Ltd., which expands Valensa's plans to lead the development and distribution of value-added microalgae extracts for nutraceutical applications. The agreement includes a $6.5 million investment to establish a new plant for the extraction of Parry Organic Spirulina to produce Phycocyanin, which Valensa will be developing for dietary supplements, functional and medical foods.
French microalgae player Fermentalg has signed a multi-year technological, industrial, and commercial development agreement with the US industrial group DDW to bring Blue Origins, the natural blue color developed by Fermentalg, to market. The move is expected to substantially strengthen Fermentalg’s financial resources to complete its strategic development plan as consumers lean toward naturality, healthful ingredients and environmental protection. As well as this, Fermentalg has secured financing of at least €19 million (US$21.2 million) until the end of 2022 to fund the industrial scale-up of its product portfolio.
As a part of Phycocyanin market segmentation, our study exhibits a market analysis based on type, Market application and Historic Data:
Attributes | Details (Current Scenario) |
Base-Year | 2020-2021 |
Historic Data | 2019-2020 |
Forecast Period | 2022-2028 |
Regions Covered |
|
By Type/function |
|
By Application |
|
CAGR (XX%) | 9.4% (Current Market Analysis) |
Customization Available | Yes, the report can be customized as per your need. (Free 15% Customization) |
Delivery Format | PDF, and Excel through Email |
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What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Phycocyanin Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
The Phycocyanin Market has been studied via primary and secondary research methods. The findings were validated by speaking to industry experts. We have a data estimation model to predict the rate of growth of the market up to 2028.
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