Augmenting Demand for Phycocyanin to Bolster Global Market Revenue Growth During the Crisis Period of COVID-19

XploreMR presents useful insights on the competitive landscape and key player strategies in a new study titled “Phycocyanin Market: Food & Beverage Application to Hold Close to 85% Value Share Throughout the Forecast Period: Global Industry Analysis (2013 – 2017) & Opportunity Assessment (2018 – 2028)”

XploreMR offers a ten-year forecast for the global phycocyanin market between 2018 and 2028. The report also includes macroeconomic indicators along with an outlook on phycocyanin for the global market. The study demonstrates in-depth analysis of the key market dynamics, which are expected to influence the market performance in the long run. The report also comprises the study of current issues with consumers and opportunities for phycocyanin. The report also offers updates on recent trends, key drivers and restraints, volume and value forecasts, and various opportunities for manufacturers operating in the global and regional phycocyanin markets.

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After an extensive study of the global phycocyanin market, it has been noted that food & beverages industry has highly influenced this market in the past, and is expected to account for a considerable demand for phycocyanin throughout the projected period of 10-years. We have observed that stringent standards by regulatory bodies across the globe has created a major impact on the global phycocyanin market. After examining this market thoroughly, our analysts have arrived at a conclusion that the key players operating in this market are focusing on enhancing production capacity and innovation in terms of various forms and nature that find its way in a plethora of different applications. According to the report, the market concentration of key players in the global phycocyanin market is increasing continuously, both on vertical as well as on horizontal levels. Producers of phycocyanin are entering into mergers and acquisitions in order to increase their production capacity.

In order to provide users of this report with a comprehensive view of the market, we have included detailed competition analysis of the key market players and strategic overview. The dashboard provides a detailed comparison of phycocyanin manufacturers on parameters such as total revenue, product offerings, and key strategy. The study encompasses market attractiveness analysis by nature, form, application, and region. The report includes phycocyanin market company profiles and the revenue generated from the companies across North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan and the Middle East & Africa.

By region, Western Europe is expected to be the largest market. The phycocyanin market in Western Europe is estimated to reach US$ 78.3 Mn by the end of 2028. However, North America is also expected to reflect higher growth potential. The North America phycocyanin market is projected to grow at the highest pace to register a value CAGR of 8.4% throughout the period of forecast. This region is the second highest in terms of market value.

By nature, the conventional segment leads the market with a high revenue share. The organic segment is poised to register a higher CAGR of 8.6% in the said period.

By form, the powder segment is the most beneficial and highly accepted form of phycocyanin. The powder segment is expected to grow at the highest pace to reflect a 7.6% CAGR during the period of forecast and is estimated to reach a market value of a little under US$ 219 Mn by 2028 end.

By application, the food & beverages segment is the largest in terms of market value and is estimated to reflect a market valuation of more than US$ 190 Mn by the end of the period of assessment. The nutraceuticals segment in the application category is expected to grow at the fastest pace to register a value CAGR of 8.6% during 2018-2028.

Top-down approach has been used to estimate the phycocyanin market by countries. Global market numbers by source have been derived using the bottom-up approach, which is cumulative of each country’s demand. The market has been forecast based on constant currency rates.

A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, and Hoover’s, and company annual reports and publications.

The report provides detailed competitive and company profiles of key participants operating in the global market. Some of the major companies operating in the global phycocyanin market are Chr. Hansen A/S, Sensient Technologies Corp, Parry Nutraceuticals Limited, Cyanotech Corp, DIC Corporation, GNC Holdings, Inc., DDW Inc., Now Health Group Inc., Parry Nutraceuticals Limited, Fraken Biochem Co., Ltd., Naturex S.A, Döhler GmbH and Far East Bio-Tec Co., Ltd. (ALGAPHARMA BIOTECH CORP) have been included.

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In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR but also analyze on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities.

Also, another key feature of this report is the analysis of all key segments in terms of absolute dollar. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the global phycocyanin market.

Key Segments Covered in the Report Include –

Analysis by Nature

• Organic
• Conventional

Analysis by Form

• Powder
• Liquid

Analysis by Application

• Food and Beverage
• Nutraceutical
• Animal Feed
• Cosmetics & Personal Care
• Others

Analysis by Region

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific excluding Japan
• Japan
• Middle East & Africa