The has been experiencing steady growth graph since past years. During the 2017-2025 timeline, the global market for phycocyanin is expected to reflect a 1.8x increase in the revenue growth. In 2018 the global phycocyanin market was valued at and by the end of the assessment year (2025), it is estimated to touch a value more than growing at a value CAGR of 7.6% throughout the period of forecast.
Applications of phycocyanin are anticipated to create new business segments in the market. Phycocyanin is in use for a broad range of food & beverages products such as confectionery, drinks, dairy products & others. The companies are focusing on launching products that are launched in few regions. There lies a great opportunity since only a few companies are into this business due to introductory stage of this product market. Phycocyanin is used in producing various natural colors.