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In terms of value, the Europe Phycocyanin Market is projected to reach $90 million by 2030, at a CAGR of 26.4% during the forecast period 2023–2030. In terms of volume, the Europe phycocyanin market is projected to reach 1,138.0 tons by 2030, at a CAGR of 32.1% during the forecast period 2023–2030. The growth of this market is mainly driven by the increasing adoption of phycocyanin for nutraceutical applications, the increasing preference for natural colors over synthetic colors, the rising demand for natural blue colorants, and increasing venture investments in phycocyanin production. However, the high prices of natural colorants, high costs of extracting and purifying phycocyanin, and complexities in algae production restrain the growth of this market. Additionally, the high potential of phycocyanin in pharmaceutical applications and increasing consumer awareness regarding clean-label products are expected to create growth opportunities for the players operating in the Europe phycocyanin market.
Here are the top 10 companies operating in the Europe Phycocyanin Market
Founded in 1908 and headquartered in Tokyo, Japan, DIC specializes in the manufacturing of printing inks and also produces organic pigments and synthetic resins. The company offers its products to the automotive, electronics, food, and housing industries. It operates in three business segments, namely, Packaging & Graphic, Functional Products, and Color & Display. The Color & Display segment offers spirulina and phycocyanin. The company has a broad portfolio of microalgae. It offers microalgae products, including spirulina and phycocyanin in the form of powder and tablets, through its subsidiary companies Earthrise Nutritionals, LLC (U.S.), Sun Chemical Corporation (U.S.), and Hainan DIC Microalgae Co., Ltd. (China).
The company has a geographic presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa through its strong distribution network in over 63 countries.
Givaudan SA
Founded in 1895 and headquartered in Vernier, Switzerland, Givaudan manufactures flavors, fragrances and active cosmetic ingredients. The company operates through two business segments, namely, Taste & Wellbeing and Fragrance & Beauty. The company offers phycocyanin products through its two subsidiaries Naturex S.A. (France) and DDW, Inc. (U.S.).
Naturex S.A. is engaged in sourcing, producing, and selling natural ingredients for the food, health, and beauty sectors. The company’s new extraction line has boosted its spirulina production capacity. This expansion of Naturex’s manufacturing capacity has been designed to meet the growing global demand for clean-label blues and greens.
DDW is engaged in producing and distributing caramel color and natural color solutions for food & beverage applications. The company offers natural colors derived from agricultural, biological, or mineral sources.
The company has a strong geographical presence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Founded in 1978 and headquartered in Mierlo, Netherlands, GNT Group is engaged in the production of natural food colors. The company offers a wide range of natural food colors mainly derived from fruits, vegetables, and edible plants through physical processing methods. It is internationally renowned for its EXBERRY portfolio, the leading global brand in coloring foods.
The company offers more than 400 color shades through this brand. It is suitable for all food and drink, including confectionery, dairy and bakery products, soft and alcoholic beverages, and savory applications. As of 2020, the company’s color solution, EXBERRY, is used by more than 2,000 food and beverage companies, including the world’s leading food and beverage producers.
The company has a geographical presence in over 75 countries across Europe, North America, the Middle East & Africa, and Asia-Pacific.
E.I.D. – Parry (India) Limited
Founded in 1788 and headquartered in Tamil Nadu, India, E.I.D. – Parry is engaged in manufacturing sugar, biopesticides, and nutraceuticals. The company’s four product segments are Sugar, Cogeneration, Distillery, and Nutraceuticals. The Nutraceuticals segment offers organic spirulina, chlorella, astaxanthin, and microalgal products.
E.I.D. offers its products to the confectionery, bakery, beverages, and dairy industries. The company offers organic spirulina products such as phycocyanin in the nutraceuticals space. The company has a geographic presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Zhejiang Binmei Biotechnology Co., Ltd.
Founded in 2013 and headquartered in Zhejiang Province, China, Zhejiang Binmei Biotechnology manufacturers high-quality and reliable powder, liquid, and oil-soluble spirulina extracts (phycocyanin), Carthamus, safflower, and trehalose. The company offers its products to the food, health, cosmetics, and pharmaceutical industries.
Zhejiang Binmei has obtained 8 technical patents in marine biology and has an independent intellectual property right for spirulina extraction. Its independent innovation and high-activity phycocyanin natural purification technology is patented. The company manufactures four grades of phycocyanin: food, cosmetic, medical, and reagent, and provides both spirulina protein powder and blue spirulina liquid extract with patent certifications.
Zhejiang Binmei’s current annual production capacity comprises 200 tons of phycocyanin, 200 tons of spirulina liquid extract, and 500 tons of spirulina powder. The company has a geographic presence across the U.S., Germany, Japan, South Korea, and other countries.
Meticulous Research in its latest publication on Europe Phycocyanin Market has predicted the growth of 26.4% during the forecast year 2023-2030.
Merck KGaA
Founded in 1668 and headquartered in Hesse, Germany, Merck KGaA is a science and technology. The company operates through three business segments, namely, Healthcare, Life Science, and Electronics. The company offers phycocyanin products through its Life Science segment.
The Life Science business segment operates through three sub-segments, namely, Process Solutions, Research Solutions, and Applied Solutions. The company offers its products to various industries, such as pharmaceuticals, research, food & beverages, materials science & engineering, protein, and clinical & diagnostics.
Merck provides phycocyanin products in both lyophilized powder and liquid form through its brand Sigma-Aldrich.
The company has a geographical presence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Founded in 1998 and headquartered in Inner Mongolia, China, Bluetec Naturals is engaged in supplying algal products. The company produces around 500 tons of spirulina and provides phycocyanin and spirulina extracts. In 2016, the company developed an innovative technology to extract phycocyanin from spirulina. Additionally, the company also provides chlorella and astaxanthin.
The company offers its products to the food, cosmetic, and pharmaceutical industries and produces phycocyanin to meet customers’ custom requirements. Bluetec Naturals also produces blue spirulina, spirulina extract, and phycocyanin products according to special formulations from its customers.
This FSSC22000, ISO9001, HACCP, BRC, Organic, Kosher, and Halal-certified company offers its phycocyanin products in liquid and powder forms for food, cosmetics, and pharmaceutical industries.
Bluetec Naturals has a geographic presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
AlgoSource
Founded in 1993 and headquartered in Saint-Nazaire, France, AlgoSource offers an end-to-end range of services, such as production engineering, value creation, and the industrial development of microalgae. The company is engaged in microalgae production within controlled systems, biorefinery engineering, and creating and selling natural products such as Spirulina, Chlorella, and Phycocyanin.
AlgoSource specializes in phycocyanin-based products and cold extraction technologies. With its expertise, the company has developed an exclusive extraction technology to optimize concentration and obtain high-value molecules to provide functional ingredients for nutraceuticals, cosmetics, and health applications.
AlgoSource has a geographic presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Sensient Technologies Corporation
Founded in 1882 and headquartered in Milwaukee, U.S., Sensient Technologies develops, manufactures, and supplies natural and synthetic colors, flavors, and specialty ingredients. The company operates through three reportable business segments, namely, Flavors & Extracts Group, Color Group, and Asia-Pacific Group. It offers natural and synthetic colors for food & beverages, cosmetics and pharmaceuticals industries; inkjet inks for printers; and industrial colors for textiles and paper industries. Through its Color Group business segment, the company offers food colors for bakery, confectionery, dairy, dry grocery, pet food, and other applications.
In 2015, the company developed a proprietary technology for the extraction of spirulina blue. With the help of this proprietary extraction technology, the company produces a vibrant blue shade from Spirulina suitable for use in confections and gum as well as ice cream, water ice and frosting-type applications.
The company has 40 manufacturing and R&D locations in more than 20 countries. Its principal color manufacturing plants are located in Missouri, Brazil, Canada, China, France, Germany, Italy, Mexico, Peru, and the U.K.
The company has a geographic presence in more than 150 countries across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Fuqing King Dnarmsa Spirulina Co., Ltd.
Founded in 1995 and headquartered in Fujian, China, King Dnarmsa is engaged in the breeding, production, sales, and scientific research of algae. The company owns seven cultivation farms, an algae research institute, and an algae product deep-processing workshop. King Dnarmsa offers spirulina powder/tablets, chlorella powder/tablets, phycocyanin, and Dunaliella salina. The company is ISO9001:2015, HACCP, BRC, Kosher, Halal, NOP, and EU organic certified.
With algae farms in Hainan province, King Dnarmsa produces 1600 tons of spirulina, 400 tons of chlorella, and 30 tons of phycocyanin per year. The company’s annual output reaches 2,000 tons.
Further, the company has a geographic presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa and exports its products to the U.S., Europe, Australia, Southeast Asia, and other countries and regions.
Authoritative Research on the Europe Phycocyanin Market – Opportunity Analysis and Industry Forecast (2023-2030)
Need more information? Meticulous Research®’s new report covers each of these companies in much more detail, providing analysis on the following:
- Recent financial performance
- Key products
- Significant company strategies
- Partnerships and acquisitions
The Comprehensive report provides market size estimates, market share analysis, revenue numbers, and coverage of key issues and trends.
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