Phycocyanin Market Outlook:
Phycocyanin Market size was valued at USD 899.6 million in 2025 and is projected to reach USD 1,769.3 million by the end of 2035, rising at a CAGR of 7.5 % during the forecast period, i.e., 2026-2035. In 2026, the industry size of phycocyanin is evaluated at USD 962.8 million.
The continued demand for natural ingredients across various sectors, such as food, beverage, pharmaceutical, and cosmetic sectors, is the key factor propelling growth in the market. According to the article published by WITS, Thailand exported a total of 422,635 kg of synthetic organic coloring matter in 2023, which was valued at USD 6.33 million. The report further underscored that Brazil, the U.S., Spain, Vietnam, and Myanmar are the major exporters that jointly represent a significant share of both the total volume and export value.
Furthermore, the existence of substantial R&D in strain investments is evidently enhancing supply chain efficiency in this field. As evidence, in September 2022, DIC Corporation reported that it readily made an investment of ¥1.2 billion (~USD 9 million) in environmental upgrades at its Spirulina cultivation subsidiaries situated in California and China. These facilities produce LINABLUE, which is a phycocyanin-based natural colorant, wherein the investment focuses on achieving zero wastewater discharge and reducing environmental impact.
