Phycocyanin Market Size to Grow at a CAGR of 8.2% During the Forecast Period 2021-2026
Phycocyanin market size was estimated at $132.45 million in 2020, growing at a CAGR of 8.2% during the forecast period 2021-2026. Phycocyanin is a pigment-protein complex from the light-harvesting phycobiliprotein family. It is a light-harvesting, pigment-binding protein isolated from algae. Phycocyanin are photosynthetic pigments unique to cyanobacteria Phycocyanin. (PC) derived from blue-green algae and red algae are classified as C-PC and R-phycocyanin (R-PC). Phycocyanin contains vitamin B12, which helps the immune system work normally. It can be safely consumed by both adults and children. Phycocyanin also contains a lot of phycobiliproteins and essential amino acids that helps the body make elastin, and has anti-cancer properties. It has therapeutic properties for diabetes, cancer, and other cardiovascular issues. Increasing demand of phycocyanin from food and beverage, nutraceuticals industries coupled with growing awareness about nutritional benefit of phycocyanin a...