[Redding, California – Feb 06, 2024] – The Phycocyanin Market is poised to attain a valuation of $279.6 million by 2030, marking an impressive Compound Annual Growth Rate (CAGR) of 28.1% during the forecast period from 2023 to 2030. In terms of volume, the market is anticipated to hit 3,587.2 tons by 2030, reflecting a robust CAGR of 33.8% from 2023 to 2030. This projection underscores the escalating demand for phycocyanin, driven by its extensive applications in nutraceuticals, nutrition, and pharmaceuticals.
The surge in market growth is attributed to several factors, including the burgeoning adoption of phycocyanin for nutraceutical and nutritional applications, a notable shift away from synthetic colors, an increasing market demand for natural blue colorants, and substantial investments in phycocyanin production by ventures. Furthermore, the remarkable potential of phycocyanin in pharmaceutical applications, coupled with heightened consumer awareness regarding clean-label products, is expected to present significant growth opportunities for industry players.
Top 10 Companies Dominating the Phycocyanin Market: https://meticulousblog.org/top-10-companies-in-phycocyanin-market/
1. DIC Corporation
• Founded in 1908, Tokyo, Japan
• Specializes in manufacturing printing inks, organic pigments, and synthetic resins
• Offers spirulina and phycocyanin through subsidiaries Earthrise Nutritionals, LLC (U.S.), Sun Chemical Corporation (U.S.), and Hainan DIC Microalgae Co., Ltd. (China)
2. Givaudan SA
• Established in 1895, Vernier, Switzerland
• Manufactures flavors, fragrances, and active cosmetic ingredients
• Provides phycocyanin products through subsidiaries Naturex S.A. (France) and DDW, Inc. (U.S.)
3. GNT Group B.V.
• Founded in 1978, Mierlo, Netherlands
• Produces natural food colors from fruits, vegetables, and edible plants
• Internationally recognized for EXBERRY, a leading global brand in coloring foods
4. E.I.D. – Parry (India) Limited
• Established in 1788, Tamil Nadu, India
• Engaged in manufacturing sugar, biopesticides, and nutraceuticals
• Offers organic spirulina products, including phycocyanin in the nutraceuticals segment
5. Zhejiang Binmei Biotechnology Co.,Ltd
• Founded in 2013, Zhejiang Province, China
• Manufacturers high-quality spirulina extracts (phycocyanin), Carthamus, safflower, and trehalose
• Holds 8 technical patents in marine biology and an independent intellectual property right for spirulina extraction

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6. Yunnan Green A Biological Project Co., Ltd. (A Subsidiary of Yunnan Spirin Biotechnology Co. Ltd)
• Established in 1997, Kunming, China
• Develops, breeds, produces, and markets microalgae-based health products
• Annual microalgae production capacity of 3,000.0 metric tons, offering products in powder, tablets, and extract-phycocyanin forms
7. Bluetec Naturals Co., Ltd
• Founded in 1998, Inner Mongolia, China
• Supplies algal products, producing around 500 tons of spirulina
• Innovated technology for phycocyanin extraction from spirulina, offering custom products for food, cosmetic, and pharmaceutical industries
8. Merck KGaA
• Established in 1668, Hesse, Germany
• Science and technology company operating in Healthcare, Life Science, and Electronics
• Provides phycocyanin products through its Life Science segment, available in lyophilized powder and liquid form under the Sigma-Aldrich brand
9. AlgoSource
• Founded in 1993, Saint-Nazaire, France
• Offers services in microalgae production, biorefinery engineering, and natural products creation
• Specializes in phycocyanin-based products and cold extraction technologies
10. Phyco-Biotech Laboratories
• Established in 2011, Montpellier, France
• Produces and distributes pharmaceutical products, natural food supplements, and organic cosmetics
• Expertise in extracting and purifying phycobiliproteins, providing phycocyanin in powder form through lyophilization
Despite the optimistic outlook, challenges such as the high prices of natural colorants, extraction and purification costs of phycocyanin, and complexities in algae production pose restraints on market growth.
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