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Growing Awareness About Toxic Effects of Artificial Colorants to Propel Growth of Phycocyanin Market

The phycocyanin market is expected to continue its growth streak throughout the forecast period 2019 - 2029.

 

San Francisco, CA -- (SBWIRE) -- 04/15/2020 -- The phycocyanin market is expected to continue its growth streak throughout the forecast period 2019 - 2029. Increasing awareness about the harmful effects of artificial dye may impact the phycocyanin market positively. Phycocyanin is a phycobiliprotein complex produced by cyanobacteria. It is used as a natural dye across various applications. It also has anti-inflammatory and antioxidant properties. In addition, it also contains essential nutrients and is vitamin-rich. Phycocyanin is used for applications across food and beverages, nutraceuticals, biotechnology, medicines and pharmaceuticals, cosmetics, and biotechnology.

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Phycocyanin is said to cure nutritional deficiencies owing to its high nutritional content. Considering this factor, the governments of various countries have promoted using phycocyanin for the same. This factor can prove to be beneficial for multiplying the growth rate of the phycocyanin market. Furthermore, frequent technological innovations to enhance phycocyanin properties can also help the phycocyanin market to climb the ladder of growth.

Rising demand from the pharmaceutical sector to augment phycocyanin market growth

The phycocyanin market is making inroads in the pharmaceutical industry as it has a plethora of health benefits. Its anti-cancer properties and therapeutic effects for diabetes and other cardiovascular treatments may prove to be a driving factor for the growth of the phycocyanin market. The rising COVID-19 cases may prove to be a growth generator for the phycocyanin market as people with diabetes are more likely to be severely affected by the virus. It is also used on a large scale in the medicines due to the natural fluorescence and stability properties under high temperatures.

Phycocyanin derived from spirulina to further enhance growth rate of phycocyanin market

Phycocyanin naturally occurs in spirulina, a type of algae. Manufacturers are focusing their attention on deriving phycocyanin from spirulina. The key players are paying attention to cost-effectively increase the production of spirulina. For instance, ScotBio, a biotech company, recently came up with a patented method of growing spirulina algae in a customized facility rather than an open pond system. This method enhances phycocyanin production within the organism as much as five times when compared to the growth in an open pond system. In addition, it will also come out with enhanced blue hue.

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Manufacturers in the phycocyanin market are forging new partnerships to increase phycocyanin production as well as to establish their dominance over the phycocyanin market. The joint venture between Parry Nutraceuticals and Synthite Industries Ltd to enhance large scale phycocyanin production is a classic instance. Such joint ventures create a win-win situation for both the companies and this, in turn, may propel the growth rate of the phycocyanin market.
Key players in the phycocyanin market are Natura, Wellisen, Japan Algae Co. Ltd., Xian Naural Field Bio-Technique Co. Ltd, and Bluetec Naturals Co.

On a geographical basis, the phycocyanin market is spread across North America, South America, the Middle East and Africa, Asia Pacific, and Europe. North America is expected to record the highest growth during the forecast period owing to the rising inclination of consumers toward natural skincare products in the region. Therefore, this has caused a spike in the demand for organic products, thus driving manufacturers to focus more on such products.

The European region is also expected to witness steady growth due to the massive demand for healthy food and beverages. Natural ingredients have become a prerequisite for food and beverage products due to strict government regulations and rising food safety concerns. The Asia Pacific market is also expecting a good growth rate due to increasing incidences of bad lifestyle-related health conditions as well as rising spend on medicines and pharmaceuticals by the consumers. Government support may also turn out to be a significant factor in accelerating the growth rate of the phycocyanin market.

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