Phycocyanin Market

By Nature;

Organic and Conventional

By Form;

Powder and Liquid

By Application;

Food & Beverage, Nutraceutical, Animal Feed, Cosmetics & Personal Care and Others

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa and Latin America - Report Timeline (2021 - 2031)
Report ID: Rn446506496 Published Date: August, 2025 Updated Date: September, 2025

Phycocyanin Market Overview

Phycocyanin Market

Phycocyanin Market was valued at USD 549.06 million in the year 2024. The size of this market is expected to increase to USD 959.43 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 8.3%.


Phycocyanin Market

*Market size in USD million

CAGR 8.3 %


Study Period2025 - 2031
Base Year2024
CAGR (%)8.3 %
Market Size (2024)USD 549.06 Million
Market Size (2031)USD 959.43 Million
Market ConcentrationMedium
Report Pages309
549.06
2024
959.43
2031

Major Players

  • Sensient Technologies Corporation
  • CHR Hansen A/S
  • DIC Corporation
  • DDW The Color House
  • Naturex S.A.
  • Dohler Group
  • Cyanotech Corporation
  • Dongtai City Spirulina Bio-engineering Co., Ltd
  • Fuqing King Dnarmsa Spirulina Co., Ltd
  • Naturalin Bio-Resources Co., Ltd
  • Fraken Biochem
  • Parry Nutraceuticals
  • Far East Bio-Tec Co.
  • GNT Holding B.V.

Market Concentration

Consolidated - Market dominated by 1 - 5 major players

Phycocyanin Market

Fragmented - Highly competitive market without dominant players


The Phycocyanin Market is witnessing robust growth, supported by increasing demand for natural pigments and functional ingredients. Nearly 55% of adoption is linked to the food and beverage sector, where phycocyanin is widely used as a natural colorant. Its antioxidant, anti-inflammatory, and health-boosting properties further enhance its market potential.

Applications Across Industries
Phycocyanin is extensively used in nutraceuticals, cosmetics, pharmaceuticals, and biotechnology. Around 30% of usage comes from nutraceutical products, while cosmetics and personal care applications contribute nearly 20%. Its role as both a functional ingredient and a natural pigment makes it versatile across multiple industries.

Key Growth Drivers
The rising preference for plant-based, clean-label, and sustainable ingredients is fueling adoption. More than 40% of companies in the food and nutraceutical sectors are actively incorporating phycocyanin into new product formulations. Additionally, its use in dietary supplements and functional foods contributes nearly 25% of market growth, highlighting its strong health-related appeal.

Technological Advancements
Continuous progress in microalgae cultivation, protein extraction, and purification technologies is transforming the market. Over 30% of new product developments emphasize high-purity phycocyanin, improved stability, and cost-effective production. These advancements are expanding its availability and ensuring consistent quality for industrial use.

Future Outlook
The Phycocyanin Market is set for significant expansion, driven by demand in food, nutraceuticals, cosmetics, and pharmaceuticals. Increasing emphasis on sustainability, health benefits, and natural alternatives will con

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Nature
    2. Market Snapshot, By Form
    3. Market Snapshot, By Application
    4. Market Snapshot, By Region
  4. Phycocyanin Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Increasing Demand for Natural and Healthy Ingredients
        2. Growing Health and Wellness Trends
        3. Expanding Applications in Food and Beverage Industry
        4. Rising Use in Cosmetics and Personal Care Products
        5. Technological Advancements in Extraction Processes
        6. Global Expansion of Algae Farming
      2. Restraints
        1. Complex Cultivation Process
        2. Sustainability Concerns
        3. Limited Consumer Awareness
        4. Competition from Synthetic Colorants
        5. Vulnerability to Contamination
        6. Limited Research on Potential Side Effects
      3. Opportunities
        1. Expanding Applications in Functional Foods and Beverages
        2. Increasing Demand for Natural Colorants in Cosmetics
        3. Rising Awareness of Plant-Based and Vegan Products
        4. Technological Innovations in Extraction Processes
        5. Collaboration in Research and Development
        6. Strategic Marketing and Education Initiatives
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bragaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Phycocyanin Market, By Nature, 2021 - 2031 (USD Million)
      1. Conventional
      2. Organic
    2. Phycocyanin Market, By Form, 2021 - 2031 (USD Million)
      1. Powder
      2. Liquid
    3. Phycocyanin Market, By Application, 2021 - 2031 (USD Million)
      1. Food & Beverage
      2. Nutraceutical
      3. Animal Feed
      4. Cosmetics & Personal Care
      5. Others
    4. Phycocyanin Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN(Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Sensient Technologies Corporation
      2. CHR Hansen A/S
      3. DIC Corporation
      4. DDW The Color House
      5. Naturex S.A.
      6. Dohler Group
      7. Cyanotech Corporation
      8. Dongtai City Spirulina Bio-engineering Co., Ltd
      9. Fuqing King Dnarmsa Spirulina Co., Ltd
      10. Naturalin Bio-Resources Co., Ltd
      11. Fraken Biochem
      12. Parry Nutraceuticals
      13. Far East Bio-Tec Co., Ltd. (ALGAPHARMA BIOTECH CORP.).
      14. GNT Holding B.V.
  7. Analyst Views
  8. Future Outlook of the Market