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, 2023-2030.”
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.
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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
- Blutech Nnaturals Co. Ltd.
- Xi’an Pincredit Biotech Co. Ltd
- E. Roeper GmbH
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 2023 and 2030.
Report Aim & Scope:
- An overview of the market based on geographical scope, segmentation and financial performance of key players is presented in the report.
- The report presents the estimated market size by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- The report presents current trends in the industry and future scope of the market in North America, Asia Pacific, Europe, Latin America and Europe.
- The various parameters accelerating the growth of the market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the market during the forecast period.
DRIVING FACTORS
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.
REGIONAL INSIGHTS
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 2023 and 2030.
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.
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COMPETITIVE LANDSCAPE
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.
Key information from the Research Report:
- Extensive information on factors estimated to affect the market growth and share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects of market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the market, underlining the growth rate and opportunities offered in the business.
The Global Organic Phycocyanin Powder Market Research/Analysis Report Contains Answers to your following Questions:
- Which Manufacturing Technology is used for Organic Phycocyanin Powder? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Organic Phycocyanin Powder Market? What are Their Company Profile, Their Product Information, and Contact Information?
- What Was Global Market Status of Organic Phycocyanin Powder Market? What Was Capacity, Production Value, Cost and PROFIT of Organic Phycocyanin Powder Market?
- What Is Current Market Status of Organic Phycocyanin Powder Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Organic Phycocyanin Powder Market Trends by Taking Applications and Types in Consideration?
- What Are Projections of Global Organic Phycocyanin Powder Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?
- What Is Organic Phycocyanin Powder Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact On Organic Phycocyanin Powder Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Organic Phycocyanin Powder Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Organic Phycocyanin Powder Industry?
Industry Development:
- 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.
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