Global phycocyanin market is anticipated to grow at a considerable CAGR of 8.0% during the forecast period (2024-2031). A major factor supporting the growth of the market is the increasing demand for natural blue food colourants across industries such as food and beverages, cosmetics, and pharmaceuticals. Phycocyanin, derived from blue-green algae like spirulina, is sought after for its vivid colour and perceived health benefits. Growing consumer preference for natural ingredients, coupled with the rising awareness of phycocyanin’s antioxidant and anti-inflammatory properties, has fuelled its adoption. Looking towards its high market demand key players are expanding their production capacity of phycocyanin.
For instance, in 2023, DIC Corp. (DIC) unveiled plans for collaborative business expansion in the polyphenols sector and has partnered with California-based biotechnology startup Debut that employs advanced biotechnology and the venture aims to produce polyphenols for application in both the food and cosmetics industries.
Further, in June 2022, DDW, Inc. headquartered in the US, and Fermentalg based in France, commenced the pre-commercialization phase of the revolutionary acid-stable Galdieria Blue Extract and is anticipated to hit the market in the near future, this innovative product represents a significant advancement in the field.
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Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2024-2031
Segment Covered-
- By Form
- By Grade
- By Application
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- includes DIC Corp., Sensient Technologies Corp., Cyanotech, E.I.D. – Parry (India) Ltd, Döhler GmbH and others.
Phycocyanin Market Report Segment
By Form
- Dry
- Liquid
By Grade
- Phycocyanin E18
- Phycocyanin E25
- Phycocyanin E3.0
By Application
- Food & Beverages
- Pharmaceuticals & Nutraceuticals
- Cosmetics & Personal Care
- Diagnostics & Biomedical
- Others (Animal feed)
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Phycocyanin Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- AlgoSource
- Bluetec Naturals Co., Ltd.
- DDW Inc. (Givaudan)
- Döhler GmbH
- I.D. – Parry (India) Ltd.
- Earthrise Nutritionals LLC
- Far East Bio-Tec Co., Ltd.
- FrakenBiochem Co., Ltd.
- Fuqing King Dnarmsa Spirulina Co., Ltd.
- Japan Algae Co. Ltd
- Jiangshan Comp Spirulina Co. Ltd.
- Nan Pao International Biotech Co. Ltd.
- Naturalin Bio-Resources Co., Ltd
- Naturex S.A.
- Parry Nutraceuticals Ltd.
- Laboratoires Phyco-Biotech
- Pond Technologies Holdings Inc.
- QINGDAO ZAOLANBIO CO., LTD.
- Sigma-Aldrich Corporation (Merck KGaA, Darmstadt, Germany)
- Wellisen Nutraceuticals Pvt. Ltd.
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