Market overview:

Phycocyanin Market has been valued $155.3 million in the year 2019 and it is estimated to reach $245.5 million by the year 2026, with a CAGR of 9.7 % from 2021 to 2026. Phycocyanin is most commonly used to promote the animal blood cell regeneration, and improve lymphocyte activity and lymphatic system to improve immune function, and also comprehensively enhance the disease resistance of the body . In addition, C-phycocyanin could inhibit TGF-β1-induced EMT and C-PC might be a potential anti-fibrosis drug; these are the main factors that have considerably increased the demand for the Phycocyanin in the market, thereby driving the hug growth of the Phycocyanin market in the upcoming years

Market Drivers and Restrains:

The main factors that have considerably increased the demand for the Phycocyanin in the market is mainly due to the huge rise in the adoption of the phycocyanin in the manufacturing of therapeutic & nutritional products, and increase in the reluctance towards the usage of synthetic colors, increase in demand for the natural blue colorants, and also investments from leading color houses in the phycocyanin space; these are the main factors that have considerably increased the demand for the Phycocyanin in the market, thereby driving the hug growth of the Phycocyanin market in the upcoming years

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https://www.marketdataforecast.com/market-reports/phycocyanin-market

Report is segmented as:

Phycocyanin Market is segmented on the basis of by application ; on the basis of by form ; on the basis of by grade :

Phycocyanin Market is segmented on the basis of by application into Pharmaceutical, Food & Beverages, Nutraceuticals, Cosmetic and Others
Phycocyanin Market is segmented on the basis of by grade into Pharma Grade, Food Grade, Reagent and Analytical grade
Phycocyanin Market is segmented on the basis of by form into Liquid and Powder
Geographical Segmentation:

Phycocyanin Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa and rest of world. Asia Pacific has the dominant share in the Phycocyanin is due to the changing lifestyle of people, and the growing demand for processed food products in emerging & developing countries, including India, China, Indonesia these are the main factors that have considerably increased the demand for the Phycocyanin in the Asia Pacific region, followed by Europe, North America, Latin America and Middle East & Africa will register a slower increase in the Phycocyanin Market

Impact of COVID-19 on Market

Covid -19 pandemic has affected the growth of business of every sector and it also affected the growth of the Phycocyanin market, and temporary lack of growth in export and import activities, which has impacted the rays of Phycocyanin market growth. Covid-19 pandemic has impacted huge on the sales revenue of Phycocyanin market. Due to the government restrictions like lockdown in many countries has shutdown the commercial and industrial establishments and also stopped in transportation these made huge loss for Phycocyanin market. In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of corona virus.

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