Phycocyanin

Global Phycocyanin Market to Reach US$257.6 Million by 2030

The global market for Phycocyanin estimated at US$181.9 Million in the year 2024, is expected to reach US$257.6 Million by 2030, growing at a CAGR of 6.0% over the analysis period 2024-2030. Organic, one of the segments analyzed in the report, is expected to record a 7.2% CAGR and reach US$166.1 Million by the end of the analysis period. Growth in the Conventional segment is estimated at 4.0% CAGR over the analysis period.

The U.S. Market is Estimated at US$49.6 Million While China is Forecast to Grow at 9.6% CAGR

The Phycocyanin market in the U.S. is estimated at US$49.6 Million in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$53.1 Million by the year 2030 trailing a CAGR of 9.6% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.8% and 5.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR.

Global Phycocyanin Market – Key Trends & Drivers Summarized

Phycocyanin, a natural blue pigment derived from cyanobacteria such as Spirulina, is witnessing increasing demand across diverse industries, including food & beverages, cosmetics, pharmaceuticals, and biotechnology. Recognized for its antioxidant, anti-inflammatory, and immune-boosting properties, phycocyanin is gaining popularity as a functional ingredient and natural colorant. With the global shift toward clean-label, plant-based, and sustainable products, the market for phycocyanin is expanding rapidly, driven by regulatory approvals for natural colorants and growing consumer awareness of health benefits.

One of the most significant trends shaping the phycocyanin market is the increasing adoption of natural food colorants. The global food industry is undergoing a transformation, with manufacturers moving away from synthetic dyes such as FD&C Blue No. 1 (Brilliant Blue FCF) due to their potential health risks and regulatory scrutiny. Phycocyanin, being a non-toxic, water-soluble, and heat-stable blue pigment, is emerging as a viable alternative, particularly in confectionery, beverages, dairy products, and plant-based foods. Regulatory agencies such as the U.S. FDA and the European Food Safety Authority (EFSA) have recognized phycocyanin as a safe and approved natural colorant, further fueling market demand.

Another major driver is the rising demand for plant-based and functional foods. With consumers becoming more health-conscious and seeking immune-boosting ingredients, phycocyanin is increasingly used in nutraceuticals, dietary supplements, and sports nutrition products. Its anti-inflammatory, anti-cancer, and neuroprotective properties make it a sought-after ingredient in functional beverages, protein powders, and wellness-focused formulations. As the market for superfoods and algae-based supplements grows, the demand for high-purity phycocyanin extracts is expected to surge.

How Are End-Use Applications Shaping the Demand for Phycocyanin?

Phycocyanin is gaining widespread application across multiple sectors, including food & beverages, cosmetics, pharmaceuticals, and biotechnology. In the food industry, phycocyanin is primarily used as a natural blue pigment in candies, ice creams, dairy products, plant-based yogurts, and functional beverages. The rising consumer preference for clean-label and organic foods has led manufacturers to replace synthetic blue dyes with phycocyanin-based colorants, particularly in vegan and health-conscious product lines.

The cosmetics and personal care industry is also witnessing increasing use of phycocyanin in skincare, hair care, and beauty formulations. Its antioxidant and anti-aging properties make it a valuable ingredient in serums, creams, and anti-pollution skincare products. The rising demand for algae-based, cruelty-free, and eco-friendly cosmetics is further driving the adoption of phycocyanin in clean beauty formulations.

The pharmaceutical and nutraceutical industries are leveraging phycocyanin’s anti-inflammatory, hepatoprotective, and immunomodulatory properties. Research suggests that phycocyanin may play a role in cancer prevention, neuroprotection, and metabolic health. It is being increasingly incorporated into dietary supplements, functional foods, and therapeutic formulations aimed at reducing oxidative stress, supporting liver health, and improving cognitive function. With rising cases of chronic diseases such as diabetes, cardiovascular disorders, and neurodegenerative conditions, the demand for phycocyanin-based nutraceuticals is expected to grow significantly.

What Innovations Are Driving the Expansion of Phycocyanin Production?

Technological advancements in microalgae cultivation, extraction techniques, and bioprocessing are enhancing the efficiency, purity, and scalability of phycocyanin production. Traditional extraction methods often face challenges such as low yields, degradation under heat, and stability issues. However, recent innovations in cold extraction, enzymatic hydrolysis, and supercritical CO2 extraction have significantly improved phycocyanin purity and stability, making it more suitable for commercial food, pharmaceutical, and cosmetic applications.

Another major development is the shift toward large-scale, sustainable microalgae cultivation. Companies are investing in photobioreactors (PBRs), closed-loop algae farms, and precision fermentation technologies to optimize phycocyanin yield and quality. These sustainable production methods reduce land and water usage, ensuring that phycocyanin production aligns with eco-friendly and carbon-neutral initiatives.

The rise of high-purity phycocyanin grades for specialized applications is another key innovation. Traditionally, food-grade phycocyanin was the dominant market segment. However, the growing demand for pharmaceutical and cosmetics-grade phycocyanin, with higher stability and enhanced bioactivity, is leading to the development of ultra-pure phycocyanin extracts. These high-grade formulations are being used in advanced drug delivery systems, regenerative medicine, and precision nutrition.

Additionally, research on synthetic biology and genetic engineering is paving the way for genetically modified cyanobacteria with enhanced phycocyanin expression. Scientists are exploring ways to increase phycocyanin yield through strain optimization, metabolic engineering, and synthetic biology approaches, ensuring a more cost-effective and scalable production process.

What Are the Key Factors Driving the Growth of the Phycocyanin Market?

The growth in the phycocyanin market is driven by several factors, including rising consumer demand for natural colorants, increasing health awareness, regulatory support for clean-label ingredients, and technological advancements in algae cultivation. With synthetic food dyes facing regulatory scrutiny, major food manufacturers are shifting toward natural, plant-based alternatives, boosting the demand for phycocyanin as a safe and vibrant blue pigment.

Another major driver is the expanding functional food and nutraceutical industry. With consumers actively seeking antioxidant-rich, immune-boosting, and anti-inflammatory ingredients, phycocyanin’s therapeutic potential is making it a valuable addition to superfoods, protein shakes, and herbal supplements. The rising popularity of algae-based and plant-derived proteins is also creating new market opportunities for phycocyanin-enriched protein blends and dietary formulations.

The growth of the clean beauty and cosmetic industry is further contributing to market expansion. The demand for algae-based, natural skincare ingredients is driving the adoption of phycocyanin in serums, face masks, and anti-aging formulations. With beauty brands emphasizing sustainable, vegan, and cruelty-free products, phycocyanin is being recognized as a functional ingredient with skin-protective and anti-inflammatory benefits.

Additionally, ongoing research on phycocyanin’s potential applications in pharmaceuticals and biotechnology is opening new avenues for market growth. Scientists are investigating its role in anti-cancer treatments, neuroprotective drugs, and metabolic health therapies, which could lead to clinical advancements and expanded medical applications.

With continuous R&D, innovations in sustainable production, and rising consumer preference for natural, functional ingredients, the phycocyanin market is poised for significant expansion in food, healthcare, and cosmetic industries. Companies investing in high-yield cultivation techniques, stability-enhanced formulations, and pharmaceutical-grade applications will be well-positioned to capitalize on the growing global demand for this versatile and health-promoting pigment.

SCOPE OF STUDY:

The report analyzes the Phycocyanin market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Nature (Organic, Conventional); Form (Powder, Liquid); Grade (Phycocyanin E18, Phycocyanin E25, Phycocyanin E30); End-Use (Food & Beverages, Personal Care & Cosmetics, Pharmaceuticals, Animal Feed, Others)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 48 Featured) -

• ALGANEX
• Arthrise Nutritionals LLC
• Bluetec Naturals Co., Ltd.
• Chr. Hansen Holding A/S
• Cyanotech Corporation
• DDW Inc.
• DIC Corporation
• Earthrise Nutritionals LLC
• EcoFuel Laboratories
• Givaudan Sense Colour
• Japan Algae Co., Ltd
• Nan Pao International Biotech Co., Ltd.
• Naturex S.A.
• Norland Biotech Co., Ltd.
• Ozone Naturals
• Parry Nutraceuticals
• Phyco-Biotech Laboratories
• Pond Technologies Holdings Inc.
• Qingdao ZolanBio Co., Ltd.
• Zhejiang Binmei Biotechnology Co., Ltd.

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

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APRIL 2025: NEGOTIATION PHASE

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