According to the research report titled ‘Phycocyanin Market Size By Product (Organic {By Form [Powder, Liquid], By Application [Food & Beverages (Confectionary, Bakery, Dairy Products, Drinks), Medicines/Pharmaceutical, Nutraceuticals, Cosmetics, Biotechnology]}, Conventional {By Form [Powder, Liquid], By Application [Food & Beverages (Confectionary, Bakery, Dairy Products, Drinks), Medicines/Pharmaceutical, Nutraceuticals, Cosmetics, Biotechnology]}), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, South Korea, Thailand, Australia, Brazil, Argentina, Saudi Arabia, UAE, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report, the global phycocyanin market is expected to cross USD 30 million by the year 2025.
 

Strict regulations pertaining to the use of synthetic colorants are fueling the demand for clean and natural label colors, which in turn is driving the phycocyanin market growth. Phycocyanin is a rich source of iron, protein, and vitamins and hence, is extensively utilized in food & beverage and pharmaceutical industries. Also, it offers enhanced nourishing properties and works as an antioxidant which makes it suitable for cosmetics. Thus, rising awareness regarding benefits of phycocyanin and escalating disposable income are aiding the expansion of the market.
 

As per the report, food & beverage application segment of organic phycocyanin market is expected to exceed USD 6 million by the year 2025. Organic phycocyanin contains high volume of fatty acids, essential nutrients, and complex carbohydrates making it ideal for dairy, confectionary, and bakery products. Also, increasing awareness regarding food safety and ill effects of artificial colors in food items is contributing towards the popularity of organic phycocyanin across food & beverage applications.
 

Considering the geographical landscape, North America phycocyanin industry is anticipated to register a growth of 9% during the analysis period, owing to shifting consumer preference towards natural cosmetics across the region. Rising awareness pertaining to adverse effects of synthetic chemicals and growing occurrence of skin disorders have compelled manufacturers to develop eco-friendly additives, which in turn is stimulating the regional revenue. Growing inclination towards personal hygiene and improving standard of living are also augmenting the demand for phycocyanin across the region.
 

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Meanwhile, Asia-Pacific phycocyanin market is projected to amass USD 14 million during the estimated timeframe. Rising prevalence of chronic disorders such as cancer are diabetes are compelling the demand for advanced therapeutic drugs. This factor, coupled with flourishing pharmaceutical industry and increasing R&D activities in order to develop natural products is fueling the growth of Asia-Pacific phycocyanin market.
 

Sigma-Aldrich, Fuqing King Dnarmsa Spirulina, Dainippon Ink & Chemicals, Ozone Naturals, and Parry Nutraceuticals are some of the prominent companies operating in the global phycocyanin market.