Phycocyanin Market to Gain Steady Revenue Stream from Expanding Nutraceuticals Industry, Meeting Clean-labelling Regulatory Norms a Challenge for Manufacturers

TMR

- Patent-protected phycocyanin food additives gathering traction among end users in the food and beverages industry, shift from artificial to natural colorant to offer steady momentum growth to phycocyanin market

- Expanding food and beverages spaces to utilize the health benefits of phycocyanin, notably anti-inflammatory and antioxidant benefits, Global valuation to climb by 2X during 2019 – 2029

ALBANY, N.Y., Jan. 4, 2021 /PRNewswire/ -- Phycocyanin is used extensively as colorant in wide range of functional foods and nutraceuticals, and is usually extracted from blue-green algae - spirulina. The commercial significance of phycocyanin has stemmed from the documented health benefits of this nutritious protein-pigment complex. Manufacturers in phycocyanin market are gaining revenues from the wide range of food and beverages that utilize this as additive. The shift toward all-natural food colorants has also carved out new revenue streams for market participants. There is a significant gap between the demand and supply, and players in the phycocyanin market are leaning on exploring cost-competitive method, such as harvesting their own spirulina algae.

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The growing popularity of phycocyanin market as functional food additive. Nutritional and pharmaceutical properties of microalgal spirulina are opening new avenues for utilizing of phycocyanin in making pharmaceuticals and cosmeceuticals. Analysts at TMR project 2X increase in revenue of the phycocyanin market during 2019 – 2029.

Healthcare industry are striving to extract the clinical potential of phycocyanin for non-small cell lung cancer, by incorporating it in marine functional products.

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The phycocyanin market is projected to clock CAGR of ~7% and reach worth of ~US$ 230 Mn by 2029-end. In 2019, the valuation of the market was pegged at ~US$ 120 Mn.

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Key Findings of Phycocyanin Market Study

• Proliferating Use in Food & Beverages Products

Extensive use of phycocyanin as natural solution for blue colors in wide range of food and beverages products, such as confectionaries, beverages, and ice creams has expanded the avenue for manufacturers in the phycocyanin market. Another key demand comes from the use of phycocyanin in formulating sugar-free food and beverage. A burgeoning hospitality space in several parts of the world has also spurred the demand for functional food products, thereby bolstering the growth of the phycocyanin market.