The global organic phycocyanin powder market size is expected to showcase substantial growth backed by the increasing preference of consumers for natural ingredients and the high demand for dietary supplements to maintain the overall well-being of the human body globally. Fortune Business Insights, published this information in its upcoming report, titled, “Organic Phycocyanin Powder Market Size, Share & Industry Analysis, By Application (Bakery Products, Confectionery, Dairy Products, Functional Food & Beverages, Alcoholic Beverages, Dietary Supplements, Other Non-food Applications) and Regional Forecast, 2020-2027.”
Food Sector to Rise at a Steady Pace amid COVID-19
Although the global pandemic has led to an unprecedented loss, the food and beverage sector is slowly picking up the pace by adhering to the stringent regulations of social distancing imposed by the government agencies. The high demand for natural and organic food products to boost immunity is likely to favor the growth of the market in the near future.
Organic phycocyanin powder is primarily obtained from the extraction and purification of a pigment sourced from organically cultivated blue-green algae. Phycocyanin is a rich source of antioxidants, along with possessing several health benefits such as anti-allergic and anti-inflammatory. The increasing demand for organic food product owing to their multi-health benefits is likely to propel the demand for these products globally.
What does the Report Include?
The market report includes a detailed analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the market growth in the forthcoming years. Moreover, the research analyst has adopted several research methodologies to obtain information about the current trends and industry developments that will drive the market growth between 2020 and 2027.
Increasing Demand for Natural Chemical Ingredients to Propel Market Growth
The several ill-effects such as skin irritation, congenital disabilities, and cancer associated with the exposure of synthetic chemical ingredients is propelling the demand for natural chemical products across several industrial applications such as pharmaceuticals, food & beverage, and others. This is likely to favor the high adoption of organic phycocyanin powder for the manufacturing of dietary supplements and functional foods across the globe. The rising pharmaceutical sector presents a lucrative opportunity for the substantial growth of the global organic phycocyanin powder market in the forthcoming years.
Growing Consumption of Organic Green Products in North America to Surge Demand
Geographically, the market in North America is expected to showcase substantial growth in the global organic phycocyanin powder market during the forecast period. This is attributable to the growing consumption of organic green products owing to their nutritional benefits that propel the demand for innovative organic phycocyanin powder products in the region between 2020 and 2027.
Europe is anticipated to experience considerable growth during the forecast period. This is ascribable to factors such as the increasing shift of consumers from conventional food products to organic products that is contributing to the high adoption of organic phycocyanin powder for food & beverage and pharmaceutical applications in the region.
Major Companies Investing in R&D Activities to Develop Innovative Organic Products
The global organic phycocyanin powder market is experiencing stiff competition amongst several major companies that are focusing on investing in R&D activities to develop and introduce new organic phycocyanin powder products. Furthermore, other key players are adopting strategies such as facility expansion, merger and acquisition, and partnership that will bode well for the market growth.
- August 2019 – ScotBio, a leading Scotland-based biotech company, announced the development of a patent method to enhance the amount of phycocyanin produced in spirulina. The innovation is expected to produce cost-effective organic phycocyanin powder products for utilization across the food sector.
List of the Companies Profiled in the Global Market for Organic Phycocyanin Powder:
- Naturex (Givaudan)
- East India Distilleries Parry Limited
- Lumen Bioscience
- Seah International
- Organicway, Inc.
- Aim Grow Biotech Co. Ltd.
- Essential Organic Ingredients
- BlutechNnaturals Co. Ltd.
- Xi’an Pincredit Biotech Co. Ltd
- E. Roeper GmbH
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