According to a new study by TMR, the sales of phycocyanin are estimatedto reach ~11 million metric tons in 2019. Growth ofthe phycocyanin market remains drivenby a slew of aspects, which range from increased market demand for clean labelproducts and changing regulations in the food and beverage industry, to growingawareness among consumers.
Phycocyanin is available in various grades and forms. Phycocyanin is ablue pigment extracted from the blue-green algae - spirulina. Phycocyaninbelongs to the phycobilli protein group, used primarily as a colorant invarious food and beverage products in the global market. PhycocyaninMarket is anticipated to grow at a rate of ~7% over the periodof 2019-2029. Phycocyanin is available in organic and conventionalnature.
Due to the increasing prevalence of diseases and foodborne allergies,consumers are preferring healthy and clean label ingredients for consumption.Consumers highly care for the provenance of the food and beverage products thatthey consume. This is creating a trend for organically-produced ingredients andfood products. This trend is not only limited to food products but is alsobeing seen in cosmetic products. As a result, organically-produced phycocyaninis witnessing increased demand from consumers and manufacturers alike.
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Health Benefits and Nutritional Contents Associatedwith Phycocyanin
Phycocyanin, extracted from the blue-green algae, used primarily as afood and beverage colorant, has numerous health benefits. Phycocyanin has beenreported to have anti-oxidant, anti-inflammatory, anti-cancer, and immune improvingcharacteristics. The use of phycocyanin for reducing cancer cell growth isbeing studied. However, other claimed health and nutritional benefitsassociated with the consumption of phycocyanin are likely to attract theattention of consumers, bolstering the demand for phycocyanin.
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Increasing Consumption of Colored and FlavoredBeverages
Increasing research and development spending has enabled various novelproduct launches in the global food and beverage market. New colored andflavored beverages are gaining momentum in the global market, due to increaseddemand from the younger generation. The use of phycocyanin in flavored andcolored beverages provides blue color to the end product with enhancedfunctional property as well. Due to the increased consumption of beverage andfood products, the demand for phycocyanin is also increasing in the globalmarket.
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Global Phycocyanin Market: CompetitiveLandscape
Some of the key players in the global phycocyanin market are CyanotechCorp., Chr. Hansen Holding A/S, DIC Corporation, Naturalin Bio-Resources Co.,Dongtai City Spirulina Bio-Engineering Co., Ltd., GNT Holding B.V., Fuqing KingDnarmsa Spirulina Co., Ltd., Sensient Technologies Corp., Fraken Biochem Co.,Ltd., Parry Nutraceuticals Limited, Döhler GmbH, Naturex S.A., Ltd., Far EastBio-Tec Co., Ltd., DDW Inc., and others.
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TMR has followedthe C19-TREND approach forconducting a comprehensive analysis on the trends and changes in the food andbeverage sector due to the COVID-19 outbreak. Each factor is analyzed withscrutiny. These points have been compiled in the report and will assure greatassistance to the stakeholders and CXOs in developing sound businessstrategies.
Some C19-TRENDsthat TMR has focused upon while analyzing the food and beverage sector are asfollows:
CulinaryTourism
With the COVID-19outbreak limiting the number of traveling and dining opportunities forindividuals, many opt to experience the fun of a restaurant or destination atthe comfort of their homes. Ready-to-drink beverages are being focused upon toenable the consumers to feel the vibe of a particular destination. This aspectwill churn exponential growth.
Immunity-BoostingItems
A good immunitycan help individuals tackle COVID-19 with ease. Many consumers are switching toimmunity-boosting food and beverage items for improving their resistanceagainst further infections. Many well-established players are paying attentionon launching immunity-rich food and beverage products. This factor will attractpromising revenues.
Strengtheningof Home Delivery Mechanisms
Restaurants andfood chains were closed for a substantial time during the lockdown period.Thus, home delivery of food products, eatables, and groceries became the newnorm. Many people still prefer home delivery due to the fear of not venturingout. Home deliveries will play a crucial role in increasing the growthopportunities across the horizon of the food and beverages sector.
These are themajor trends that will influence the growth of the food and beverage industryconsiderably. Although, the food and beverage sector was exempt from thelockdown restrictions, many cases of supply chain disruptions were observed.With mass vaccination drives and certain relaxations in restrictions, thesupply chain disruptions will be minimized extensively.
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Transparency Market Research (TMR) is a global marketintelligence company providing business information reports and services. Thecompany’s exclusive blend of quantitative forecasting and trend analysisprovides forward-looking insights to thousands of decision makers. TMR’sexperienced team of analysts, researchers, and consultants use proprietary datasources and various tools and techniques to gather and analyseinformation.
TMR’s data repository is continuously updated and revised by ateam of research experts so that it always reflects the latest trends andinformation. With extensive research and analysis capabilities, TransparencyMarket Research employs rigorous primary and secondary research techniques todevelop distinctive data sets and research material for business reports.
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