Phycocyanin Market - Global Industry Analysis till 2027

Albany, NY -- (SBWire) -- 12/24/2018 --Now a days due to increasing inclination of the consumers towards natural products and rising awareness for the harmful effects of synthetic compounds has led to exhaustive research on microalgae as a source of natural pigments/colours. Thus, fuelling the global phycocyanin market growth worldwide.

Phycocyanin is a pigment-protein complex obtained from the phycobiliprotein family, along with allophycocyanin and phycoerythrin. Phycocyanin is one of the key pigment in the chlorophyll. Phycocyanin is water-soluble pigment proteins that conglomerates with phycobiliproteins conglomerates, which stick to phycobilisomes.

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C-phycocyanin a phycobiliprotein, is one of the primary pigments of spirulina used as a dietary supplement worldwide. It also find its use in the development of immunoassay kit to study phycocyanin use as a light harvesting protein. Apart from its application nutraceutical, cosmetics, and pharmaceutical industries owing to its health benefits, phycocyanin pigment has natural colorant properties.

The one of the major drivers for the global phycocyanin market are the growing demand for the natural colourants especially in the Western Europe region as artificial colourants or dyes are totally banned in Europe. Also, FDA approval for the spirullina in U.S market drives high opportunity for the phycocyanin market in the U.S. As, the production cost of the parent product spirulina microalgae is also very economical, phycocyanin pigments are finding increased application in food supplements, nutraceuticals, pharmaceuticals, cosmetics and in dietary supplements products such as fermented milk products, ice creams, soft drinks, chewing gum, alcoholic drinks, desserts, sweet cake decoration, milk shakes etc.

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Global Phycocyanin Market: Region wise Outlook

The global phycocyanin market is divided into seven regions, namely North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and Middle East and Africa (MEA). In North America region U. S. is the largest manufacturer for the phycocyanin colourants market, followed by APEJ region. In the APEJ region, India and china are the major producers of phycocyanin colourants in the phycocyanin market showing a significant growth as of the high demand for natural colorants in the region followed by Japan. In the other regions such as Western and Eastern Europe, the phycocyanin market is anticipated top record steady growth during the forecast period.