Europe Phycocyanin Market Poised for Significant Growth, Projected to Reach $90 Million by 2030

 

The Europe Phycocyanin Market is on a trajectory of robust growth, with projections indicating a reach of $90 million by 2030. This growth is anticipated at a remarkable compound annual growth rate (CAGR) of 26.4% over the forecast period from 2023 to 2030. In terms of volume, the market is expected to expand to 1,138.0 tons by 2030, driven by a CAGR of 32.1% during the same period.

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The surge in market value and volume is largely attributed to several key factors. The growing adoption of phycocyanin in nutraceutical applications, a rising preference for natural over synthetic colorants, and an increased demand for natural blue colorants are pivotal drivers. Furthermore, escalating venture investments in phycocyanin production underscore the sector’s vibrant potential.

Despite the optimistic outlook, the market faces challenges such as the high costs associated with natural colorants, the expensive extraction and purification processes for phycocyanin, and the complexities inherent in algae production. Nonetheless, the high potential for phycocyanin in pharmaceutical applications, coupled with increasing consumer awareness of clean-label products, presents significant growth opportunities for market participants.

Key Market Players

The following leading companies are shaping the landscape of the Europe Phycocyanin Market: https://meticulousblog.org/top-10-companies-in-europe-phycocyanin-market/?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=23-08-2024

  1. DIC Corporation Established in 1908 and headquartered in Tokyo, Japan, DIC Corporation is a key player in the production of organic pigments and synthetic resins. Through its subsidiaries Earthrise Nutritionals, LLC (U.S.), Sun Chemical Corporation (U.S.), and Hainan DIC Microalgae Co., Ltd. (China), DIC offers a broad portfolio of microalgae products, including phycocyanin, with a strong presence in over 63 countries.
  2. Givaudan SA Founded in 1895 and based in Vernier, Switzerland, Givaudan SA specializes in flavors, fragrances, and active cosmetic ingredients. The company provides phycocyanin products through its subsidiaries Naturex S.A. (France) and DDW, Inc. (U.S.), and maintains a robust presence across multiple global regions.
  3. GNT Group B.V. With a foundation in 1978 and headquarters in Mierlo, Netherlands, GNT Group is renowned for its EXBERRY portfolio of natural food colors derived from fruits, vegetables, and edible plants. The company’s products are used by over 2,000 food and beverage companies worldwide, demonstrating its extensive market reach.
  4. E.I.D. – Parry (India) Limited Headquartered in Tamil Nadu, India, and established in 1788, E.I.D. – Parry produces organic spirulina and phycocyanin. The company serves various industries including confectionery, bakery, and beverages, with a geographical presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
  5. Zhejiang Binmei Biotechnology Co., Ltd. Founded in 2013 and headquartered in Zhejiang Province, China, Zhejiang Binmei Biotechnology is known for its high-quality spirulina extracts and phycocyanin. The company holds several patents and provides products across multiple sectors including food, health, cosmetics, and pharmaceuticals.
  6. Merck KGaA Established in 1668 and based in Hesse, Germany, Merck KGaA operates through three segments: Healthcare, Life Science, and Electronics. The company offers phycocyanin through its Life Science segment, leveraging its extensive geographical presence.
  7. Bluetec Naturals Co., Ltd Founded in 1998 in Inner Mongolia, China, Bluetec Naturals supplies algal products including phycocyanin. The company is noted for its innovative extraction technology and serves the food, cosmetic, and pharmaceutical industries.
  8. AlgoSource Headquartered in Saint-Nazaire, France, and founded in 1993, AlgoSource specializes in the production and industrial development of microalgae. The company offers advanced extraction technologies and high-value phycocyanin products for various applications.
  9. Sensient Technologies Corporation Established in 1882 and based in Milwaukee, U.S., Sensient Technologies develops and supplies both natural and synthetic colors. The company’s proprietary technology for extracting spirulina blue colors serves multiple applications including confectionery and dairy products.
  10. Fuqing King Dnarmsa Spirulina Co., Ltd. Founded in 1995 and headquartered in Fujian, China, King Dnarmsa specializes in algae cultivation and product development. The company’s extensive production capabilities and certifications underscore its commitment to quality and global reach.

Meticulous Research's latest report forecasts a dynamic growth trajectory for the Europe Phycocyanin Market, highlighting the sector’s potential and the strategic opportunities available to industry players.

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Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

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