The phycoerythrin market is set for significant growth driven by increasing demand in the food and beverage and pharmaceutical industries. As these sectors expand, the need for phycoerythrin used for its natural colorant properties and health benefits is expected to rise, boosting sales and market value.

NEWARK, DE / ACCESSWIRE / August 20, 2024 / The global phycoerythrin market size is estimated to be worth USD 4.8 million in 2024, and is projected to reach a value of USD 10.3 million by 2034, growing at a compound annual growth rate of 8.1% over the assessment period of 2024 to 2034.

The increased application of natural colour pigments in the food and beverage as well as in the pharmaceutical products such as processed foods, bakery and confectionary, instant foods, medicines, syrups etc. has led a surge in the target market across the globe.

Continuous research and development also improve the existing process for the production of target products reshaping the phycoerythrin market. This continuous development led to new opportunities and pushed the sales of phycoerythrin as a widespread application across a range of industries. This increased application of products in various fields is driven by the ongoing development in the production, purification, and supply of phycoerythrin to the widespread industrial end-use. Continuous development in the target product extraction, purification, and microencapsulation technology which increases its efficiency and stability to withstand any process and application such as for research and study, pharmaceutical, cosmetic, food and beverage industries, etc.

Brands leverage their extensive distribution channels by collaborating with distributors and wholesalers globally. Key market leaders utilizes its extensive global distribution network to ensure that its products are available in multiple markets, ranging from food service to industrial applications.

Key Takeaways from Market Study:

• The phycoerythrin market will reach nearly USD 4.8 million by 2024.

• The United States phycoerythrin market is expected to register 6.9% CAGR between 2024 and 2034.

• The Australia phycoerythrin market is expected to register 9.8% CAGR between 2024 and 2034.

• Top countries driving the phycoerythrin demand are United States, China, India, Germany, and Australia.

"Manufacturing companies with advanced processing facilities and innovative processes to manufacture the end products from algae which is natural, organic and helathy and safety for the consumer keeping the cost-effectiveness of the product will be the winner of the market. An added advantage will be enjoyed by companies that prioritize targeted marketing and product positioning." says Nandini Roy Choudhury, Client Partner at Future Market Insights.

Who is winning?

Key players in the market are engaging in collaboration and partnership to create innovative products. MNC's focus on expanding their geographical presence, and local players focus on catering to niche segments of the market by collaborating with other companies.

• Agilent technology launches the R-Phycoerythrin (R-PE) Conjugation Kit contains everything that is needed to conjugate up to 1 mg (~1000 tests) of your antibody to RPE.

Access the Full Report on Phycoerythrin Market Trends and Projections Now! https://www.futuremarketinsights.com/reports/phycoerythrin-market

Leading Phycoerythrin Brands

• Thermo Fisher Scientific Inc.

• Eurogentec

• Dainippon Ink and Chemicals

• Procurement Limited

• Norland Biotech

• Abcepta

• Europa Biotechnology

• Anaspec

• Jackson Immuno Research

• Chemscene

• SETA BioMedicals

• Agilent Technologies

• Assay Biotech Company Inc.

• Fivephoton Biochemical

• R&D Systems Inc.

• Binmei Biotechnology

Key Segments of Market Report

By Process of Extraction:

As per the process of Extraction, the industry has been categorized into Buffer Extraction, Cell Wall Extraction, and Hydrolysis Extraction.

By Form:

This segment is further categorized into Freeze dried and Liquid form

By Product Type:

This segment is further categorized into R-PE, B-PE, and C-PE

By End Use Application:

This segment is further categorized into the Pharmaceutical Industry, Food Industry, Cosmetics Industry, Diagnostic Industry, Biotechnology, and Agricultural Industry.

By Region:

Industry analysis has been carried out in key countries of North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa.

Authored by:  

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.   

She has exceptional analytical skills and often brings thought leadership to the table.  

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results. 

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor's Degree in Electrical Engineering from Nagpur University, India.  

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor. 

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