US Phycocyanin Market is projected to grow from $xx Mn in 2022 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2022 - 2030. Phycocyanin market is growing globally due to the growth and expansion of the food and beverage industry, the food and beverage sector's increasing focus on innovations, consumers' growing awareness of the benefits of consuming foods and beverages high in protein and other nutrients, the accelerating rate of the use of food additives and colorants, and rising personal disposable income.
US Phycocyanin Market is valued at around $68.5 Mn in 2022 and is projected to reach $107.5 Mn by 2030, exhibiting a CAGR of 5.8% during the forecast period 2023-2030.
The family of phycobiliproteins includes the protein pigment known as phytocyanin, which is based on light. A blue, luminous, water-soluble pigment protein called phycocyanin is extracted from the bacterium Arthrospira platensis. Phycocyanin is utilized as a food coloring or addition in a variety of products, including baked goods, beverages, and confections. Consumers can benefit greatly from phytocyanin, which is also helpful in a variety of biotechnology applications such as fluorescent reagents, probes, and tracers. The market for phycocyanin is impacted by several trends, including the rise in vegan and vegetarian diets, the demand for natural, plant-based products, and a greater emphasis on sustainable sourcing and production practices. Cyanotech Corporation, DIC Corporation, Parry Nutraceuticals, Tianjin Norland Biotech Co., Ltd., and Döhler GmbH are the key global market players.
Market Growth Drivers
Growth and expansion of the food and beverage industry, the food and beverage sector's increasing focus on innovations, consumers' growing awareness of the benefits of consuming foods and beverages high in protein and other nutrients, the accelerating rate of the use of food additives and colorants, and rising personal disposable income. All these factors act as market growth drivers.
Market Restraints
The high cost of natural colors, their purity, and their extractions. The market's potential for expansion will be further constrained by fluctuations in the cost of machinery and equipment and supply chain interruptions. The high expense of research and development efforts and the danger of algal contamination also act as market growth restraints.
Key Players
1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country
2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)
3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints
4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)
4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)
5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment
6. Methodology and Scope
By Nature
By Form
By Grade
By Applications
Methodology for Database Creation
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