Europe Phycocyanin Market by Form (Powder, Liquid), Grade (Food Grade Phycocyanin, Cosmetic Grade Phycocyanin, Reagent and Analytical Grade Phycocyanin), Application (Food and Beverages, Pharmaceuticals and Nutraceuticals)–Forecast To 2030

Europe Phycocyanin Market by Form (Powder, Liquid), Grade (Food Grade Phycocyanin, Cosmetic Grade Phycocyanin, Reagent and Analytical Grade Phycocyanin), Application (Food and Beverages, Pharmaceuticals and Nutraceuticals)–Forecast To 2030

Europe Phycocyanin Market by Form (Powder, Liquid), Grade (Food Grade Phycocyanin, Cosmetic Grade Phycocyanin, Reagent and Analytical Grade Phycocyanin), Application (Food and Beverages, Pharmaceuticals and Nutraceuticals)–Forecast to 2030

The research report titled, ‘Europe Phycocyanin Market by Form (Powder, Liquid), Grade (Food Grade Phycocyanin, Cosmetic Grade Phycocyanin, Reagent and Analytical Grade Phycocyanin), Application (Food and Beverages, Pharmaceuticals and Nutraceuticals)–Forecast to 2030’ provides an in-depth analysis of the phycocyanin market in the European countries and emphasizes on the current market trends, market size, market shares, recent developments, and forecasts to 2030. In terms of value, the Europe Phycocyanin market is projected to reach $90 million by 2030, at a CAGR of 26.4% from 2023 to 2030. In terms of volume, the Europe phycocyanin market is projected to reach 1,138.0 tons by 2030, at a CAGR of 32.1% during the forecast period 2023–2030.

The growth of this market is mainly driven by the increasing adoption of phycocyanin for nutraceutical applications, the increasing preference for natural colors over synthetic colors, the rising demand for natural blue colorants, and increasing venture investments in phycocyanin production. However, the high prices of natural colorants, high costs of extracting and purifying phycocyanin, and complexities in algae production restrain the growth of this market. Additionally, the high potential of phycocyanin in pharmaceutical applications and increasing consumer awareness regarding clean-label products are expected to create growth opportunities for the players operating in the Europe phycocyanin market.

The Europe phycocyanin market is segmented by form (phycocyanin powder, liquid phycocyanin), grade (food-grade phycocyanin, cosmetic-grade phycocyanin, reagent-& analytical-grade), and application (food & beverages, pharmaceuticals & nutraceuticals, cosmetics, diagnostics & biomedical). The study also evaluates industry competitors and analyzes the country-level markets.

Based on form, the liquid phycocyanin segment is projected to register the highest CAGR during the forecast period. The growth of this segment is mainly driven by the increasing demand for liquid phycocyanin for applications in dietary supplements and personal care products.

Based on grade, in 2023, the food-grade phycocyanin segment is expected to account for the largest share of the Europe phycocyanin market due to the increasing use of phycocyanin as an alternative to synthetic colors in the food & beverage industry, the growing awareness about the adverse effects of synthetic colors, and the increasing demand for clean-label brands that promote natural colors.

Based on application, the cosmetic segment is slated to register the highest CAGR during the forecast period. The fast growth of this segment is mainly driven by the rising demand for natural cosmetics products and increasing awareness among consumers about the adverse effects of synthetic cosmetic products.

Geographically, the Europe phycocyanin market is segmented into France, Germany, the U.K., Italy, Spain, the Netherlands, Denmark, Sweden, and the Rest of Europe. In 2023, France is expected to account for the largest share of the Europe phycocyanin market. The large share of this market is mainly attributed to the increasing awareness regarding the side effects of synthetic colors; consumers' shift towards natural, organic, and clean ingredients; and increasing health consciousness.

Key Players
The key players operating in the Europe phycocyanin market include AlgoSource (France), Bluetec Naturals Co., Ltd (China), DIC Corporation (Japan), E.I.D. - Parry (India) Limited (India), Fuqing King Dnarmsa Spirulina Co., Ltd. (China), Givaudan SA (Switzerland), GNT Group B.V. (Netherlands), Hangzhou OuQi Food co., Ltd. (China), Inner Mongolia Rejuve Biotech Co., Ltd. (China), Jiangshan Comp Spirulina Co., Ltd (China), Merck KGaA (Germany), Phyco-Biotech Laboratories (France), Pond Technologies Inc. (Canada), Qingdao Haizhijiao Biotechnology Co., Ltd (China), Qingdao ZolanBio Co., Ltd. (China), Sensient Technologies Corporation (U.S.), SPIFORM (France), Tianjin Norland Biotech Co., Ltd (China), Xi’an Fengzu Biological Technology Co., Ltd (FZBIOTECH) (China), and Zhejiang Binmei Biotechnology Co., Ltd (China).

Scope of the Report:

Europe Phycocyanin Market Assessment–by Form

Phycocyanin Powder
Liquid Phycocyanin

Europe Phycocyanin Market Assessment–by Grade

Food-Grade Phycocyanin
Cosmetic-Grade Phycocyanin
Reagent- & Analytical-Grade Phycocyanin

Europe Phycocyanin Market Assessment–by Application

Food & Beverages
Pharmaceuticals & Nutraceuticals
Cosmetics
Diagnostics & Biomedical

Europe Phycocyanin Market Assessment–by Geography

Overview
France
Germany
U.K.
Italy
Spain
Netherlands
Denmark
Sweden
Rest of Europe

Key Questions Answered in the Report:

Which are the high-growth market segments in terms of form, grade, application, and country?
What is the size of the Europe phycocyanin market, and at what CAGR is this market projected to grow during 2023–2030?
What are the market forecasts and estimates for 2023–2030?
What are the major drivers, restraints, and opportunities in the Europe phycocyanin market?
Who are the major players operating in the Europe phycocyanin market?
How is the competitive landscape, and who are the market leaders in the Europe phycocyanin market?
What are the recent developments in the Europe phycocyanin market?
Which is the high-growth country in the market?

Europe Phycocyanin Market - Report Summary

Report Metrics	Details
Years Considered	2021 - 2030
Base Year	2022
Forecast Period	2023-2030
Page Count	115
Units Referenced	Value (USD Thousand)Volume (Tons)
Segments/Key Topics	Market by Form, Market by Grade, Market by Application, Market by Geography
Regions Covered	France, Germany, the U.K., Italy, Spain, the Netherlands, Denmark, Sweden, and the Rest of Europe.
Key Companies Mentioned	AlgoSource (France), Bluetec Naturals Co., Ltd (China), DIC Corporation (Japan), E.I.D. - Parry (India) Limited (India), Fuqing King Dnarmsa Spirulina Co., Ltd. (China), Givaudan SA (Switzerland), GNT Group B.V. (Netherlands), Hangzhou OuQi Food co., Ltd. (China), Inner Mongolia Rejuve Biotech Co., Ltd. (China), Jiangshan Comp Spirulina Co., Ltd (China), Merck KGaA (Germany), Phyco-Biotech Laboratories (France), Pond Technologies Inc. (Canada), Qingdao Haizhijiao Biotechnology Co., Ltd (China), Qingdao ZolanBio Co., Ltd. (China), Sensient Technologies Corporation (U.S.), SPIFORM (France), Tianjin Norland Biotech Co., Ltd (China), Xi’an Fengzu Biological Technology Co., Ltd (FZBIOTECH) (China), and Zhejiang Binmei Biotechnology Co., Ltd (China).

FAQs About the Report

What is the revenue generated from the sale of phycocyanin in Europe? At what rate is their demand expected to grow for the next 5–7 years?

The Europe phycocyanin market is projected to reach $90 million by 2030 at a CAGR of 26.4% during the forecast period.

Which grade segment showcases high growth opportunities for the Europe phycocyanin market players?

In 2023, the food-grade phycocyanin segment is expected to account for the largest share of the Europe phycocyanin market. The large market share of this segment is mainly attributed to the increasing use of phycocyanin as an alternative to synthetic colors in the food & beverage industry, the growing awareness about the adverse effects of synthetic colors, and the increasing demand for clean-label brands that promote natural colors.

Which application segment of the market is projected to create more traction in the Europe phycocyanin market?

In 2023, the food & beverages segment is expected to account for the largest share of the Europe phycocyanin market. The segment's growth is mainly attributed to the rising trend of replacing artificial colorants with natural colorants in the food industry, growing awareness about the adverse effects of synthetic food colorants on health, and the non-toxic & non-carcinogenic properties of phycocyanin.

What are the key factors driving the growth of the Europe phycocyanin market? What are the major opportunities for existing market players and new entrants in the market?

The growth of this market is mainly driven by the increasing adoption of phycocyanin for nutraceutical applications, the increasing preference for natural colors over synthetic colors, the rising demand for natural blue colorants, and increasing venture investments in phycocyanin production. Furthermore, the high potential of phycocyanin in pharmaceutical applications and increasing consumer awareness regarding clean-label products are expected to create growth opportunities for the players operating in the Europe phycocyanin market.

Who are the major players operating in the Europe phycocyanin market?

The key players operating in the Europe phycocyanin market include AlgoSource (France), Bluetec Naturals Co., Ltd (China), DIC Corporation (Japan), E.I.D. - Parry (India) Limited (India), Fuqing King Dnarmsa Spirulina Co., Ltd. (China), Givaudan SA (Switzerland), GNT Group B.V. (Netherlands), Hangzhou OuQi Food co., Ltd. (China), Inner Mongolia Rejuve Biotech Co., Ltd. (China), Jiangshan Comp Spirulina Co., Ltd (China), Merck KGaA (Germany), Phyco-Biotech Laboratories (France), Pond Technologies Inc. (Canada), Qingdao Haizhijiao Biotechnology Co., Ltd (China), Qingdao ZolanBio Co., Ltd. (China), Sensient Technologies Corporation (U.S.), SPIFORM (France), Tianjin Norland Biotech Co., Ltd (China), Xi’an Fengzu Biological Technology Co., Ltd (FZBIOTECH) (China), and Zhejiang Binmei Biotechnology Co., Ltd (China).

Which regions/countries in Europe are expected to witness significant demand for phycocyanin in the coming years?

France dominates the Europe phycocyanin market, and Italy is projected to register the highest growth rate over the coming years.