Phycocyanin Market: Demand from Nutraceuticals and Cosmetics Industries Behind Growth

Transparency Market Research has published a new report, titled “Phycocyanin Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2027.” Phycocyanin is a key pigment in chlorophyll, which is water soluble. It is one of the chief pigments of spirulina which is used world over as a dietary supplement. Phycocyanin also finds its application in the development of immunoassay kits for studying use of phycocyanin as a light harvesting protein. Phycocyanin is used in a nutraceuticals, pharmaceutical, and cosmetic industries on account of its various health benefits. Moreover, phycocyanin has its own pigment or natural colorant properties. This is helping the market to grow at a fast pace as today consumers are increasingly driven towards everything natural. The growing awareness regarding the harmful or side effects of synthetic and artificial products will create an inclination towards adopting phycocyanin as it is a natural source of pigment or colour.

The rising demand for natural dyes and colourants by consumers across the globe but especially from the Western Europe part of the world will be the key driver for the growth of the phycocyanin market. As artificial colouring and dyes are completely banned in Europe, this region is the leading regional market for phycocyanin. Moreover, the approval for spirulina by the FDA is it driving the market for phycocyanin in the US. Since the production cost of Spirulina microalgae is very cheap, phycocyanin increasingly finding their use in nutraceuticals, food supplements, cosmetics, pharmaceuticals, and dietary supplement products, ice creams, fermented milk products, chewing gum, soft drinks, deserts, alcoholic drinks, sweet cake decoration, and milkshakes.

The report not only discusses the various factors driving the growth of the global phycocyanin market but also holds an equal a long discussion on the factors that are anticipated to act as roadblocks and hamper the growth of the market. One of the key factors and putting the growth of the phycocyanin market is the fact that its production is completely dependent on environmental factors such as the purity of air, presence of lake, ponds, and water bodies, need for the presence of sand, and all of this as per the production specifications. Extremely sensitive to temperature and therefore any change in the environment conditions can result in the destruction of the entire product.

The report segments the global phycocyanin market on the basis of extraction type into ammonium sulphate precipitation, ion-exchange chromatography, and gel filtration chromatography. By geography, the global phycocyanin market is segmented into Latin America, North America, Asia Pacific excluding Japan, Eastern Europe, Western Europe, Japan, and the Middle East and Africa. The largest manufacturer of phycocyanin is North America followed by APEJ. China and India are key producers of phycocyanin in the APEJ region. These two countries are showing a significant demand for natural colorants and so is Japan. This will help the market to grow in the region. Steady growth is also predicted in Western and Eastern Europe.

The report profiles prominent players which are identified as important within the global phycocyanin market. The names of these companies are Parry Nutraceuticals, Japan Algae Co., Ltd, Prozyme, Ozone Naturals, EcoFuel Laboratories, Hash BioTech Labs Private Limited,

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Parry Nutraceuticals, Nan Pao International Biotech, Norland Biotech, Fuqing King Dnarmsa Spirulina.

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