Phycocyanin Market Size

Phycocyanin Market size was over USD 190.72 million in 2024 and is poised to exceed USD 437.76 million by 2037, growing at over 6.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of phycocyanin is evaluated at USD 201.42 million.

Our in-depth analysis of the phycocyanin market includes the following segments:

By Nature

• Organic
• Conventional

By Form

• Liquid
• Powder

By Grade

• Phycocyanin E18
• Phycocyanin E25
• Phycocyanin E3.0

By Application

• Food & Beverages
• Nutraceutical
• Animal Feed
• Pharmaceuticals
• Biotechnology
• Cosmetics & Personal Care
• Aquaculture
• Others

By Region

Geographically, the phycocyanin market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.

North America, driven by Canada, Mexico, and the U.S., is estimated to register significant growth in the global phycocyanin market over the forecast period. The growth is attributed to growing consumer preferences towards the usage of natural colorants in cosmetics due to their high quality & eco-friendly nature, which has urged manufacturers to develop organic cosmetics which is the major motivating factor for the market growth. Increasing standards of living and numerous key players housed in the region is also a massive driving force for the region’s growth.

European market demand, driven by Germany, UK, France, Italy, and Spain, is anticipated to hold the largest market share in the forecast period owing to many factors. The vast demand for healthy food & beverages in the region, increasing food safety concerns, strict government regulations triggering the adoption of natural ingredients in food products, growing consumer inclination towards clean label products owing to rising awareness towards the use of synthetic ingredients, are the major factors that might boost regional growth.

Asia Pacific market for phycocyanin, driven by China, India, Japan, and South Korea is projected to witness remarkable growth during the projected timeframe on account of the increasing infiltration of the pharmaceutical industry in the region. Noteworthy growth in research & development activities and favorable government policies has enabled the use of phycocyanin in therapeutic drugs owing to its anti-cancer and immune enhancement properties. The growing prevalence of several lifestyle diseases and growing consumer expenditure on healthcare is expected to induce regional growth.

Furthermore, the government of many nations such as India, Angola, and Ghana is actively supportive the local spirulina market and constructing a strong gateway for the growth of this super-food which can transform the course of the food industry.

The phycocyanin market is further classified based on region as follows:

• North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
• the Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis