The global superfood market size is expected to reach US$ 229.2 Bn by the end of 2029. According to a study by Future Market Insights (FMI), the market will show a steady rise at 4.9% CAGR between 2019 and 2029. According to the report, the rising demand for healthy food will stoke growth of the market. The report covers various growth drivers and restrains impacting the market's growth trajectory. It discovers hidden opportunities for market players and helps them identify the most lucrative segments within the superfood market.

Among various kinds of superfood available in the market, the demand for fruit continues to accelerate at an impressive pace. With consumers getting increasingly conscious about what they eat in a day, fruit sales is poised to surge in the forthcoming years.

The demand for superfood is influenced by umpteen factors from rising inclination towards trendy diets to changing food habits of baby boomers. In addition to this, food innovations and rising geriatric population will continue aiding the expansion of the market through the forecast period.

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COVID-19 Impact on Phycocyanin Market

The phycocyanin market growth is anticipated to be hampered owing to the unprecedented COVID-19 pandemic. Border closures, quarantines, and the supply chain of the market and trade disruptions could limit people's access to adequate/diverse and nutritious food sources, especially in countries hard hit by the virus or already affected by food insecurity at high levels. Moreover, due to lockdowns, the shutdowns of restaurants and fast-service facilities have largely slowed the development of the food & beverage industry. In the aftermath of the global health crisis, safe and diverse food sources are in short supply. In regions hit hard by COVID-19, such as Spain, Italy, and the U.S., greater food insecurity is also prevalent. The negative effect on the global economy, supply chains, and trade are thus indirectly hampering to some degree the development of the phycocyanin market.

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It includes in-depth insights into the superfood market. Some of these are:

• The estimated value of the market was at US$ 156.3 Bn in 2019. Through the course of the report's forecast period, the market is exhibited to show a steady pace of growth.
• Regionally, North America emerged as a key market for superfood.
• Europe and Latin America will remain steady as key markets for superfood.
• Fruits, among product types, is expected to remain the leading segment.
• Key players are likely to focus on technological advancements and improving their online presence to stay relevant in developed markets.

"As a result of the rising application in food and beverages sectors, the superfood market will gain pace in the coming years," said a lead analyst at FMI. "North America, Europe, and Latin America will offer lucrative growth opportunities to the market," he added.

Competitive Landscape

The phycocyanin market players are leaning towards the expansion of the production facilities besides opting for strategic collaborations to attain a competitive edge. Nowadays, because of the high demand from customers, manufacturers are trying to provide phycocyanin at an optimum rate. To produce cost-effective goods, businesses have adopted various integrated manufacturing approaches.

For instance, The application and R&D team of Chr. Hansen created an exclusive, liquid blue in 2020 that protects the color as soon as it reaches the enormously hot candy mass. Some of the leading companies operating in the market are Chr. Hansen Holding A/S, Cyanotech Corp, DDW Inc., DIC Corporation, Dongtai City Spirulina Bio-Engineering Co., Ltd.

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Table Of Content

1. Market Introduction

1.1. Market Coverage / Taxonomy

1.2. Market Definition / Scope / Limitations

2. Market Dynamics

2.1. Drivers

2.2. Restraints

2.3. Opportunity

2.4. Trends

2.5. Key Regulations

2.6. Market Background

2.7. Macro-Economic Factors

2.8. Forecast Factors - Relevance & Impact

2.9. Value Chain Analysis

2.10. Supply Chain Analysis

2.10.1. Raw Material Suppliers

2.10.2. Product Manufacturers

2.10.3. Distributors/Suppliers/Wholesalers

3. Global Phycocyanin Market Analysis Scenario

3.1. Historical Market Volume (Metric Tons) Analysis, 2016-2020

3.2. Current and Future Market Volume (Metric Tons) Projections, 2021-2031

3.3. Y-o-Y Growth Trend Analysis

3.4. Global Phycocyanin Market - Pricing Analysis

3.5. Regional Pricing Analysis (US$/Metric Tons) By Nature

3.6. Global Average Pricing Analysis Benchmark

3.7. Pricing Influencing Factors

4. Global Phycocyanin Market Analysis 2016-2020 and Forecast 2021-2031, By Region

4.1. Introduction

4.2. Historical Market Size (US$ Mn) and Volume Analysis By Region, 2016 - 2020

4.3. Current Market Size (US$ Mn) and Volume Analysis and Forecast By Region, 2020 - 2031

4.3.1. North America

4.3.2. Western Europe

4.3.3. Eastern Europe

4.3.4. Latin America

4.3.5. Japan

4.3.6. APEJ

4.3.7. MEA

4.4. Market Attractiveness Analysis By Region

5. Global Phycocyanin Market Analysis 2016-2020 and Forecast 2021-2031, By Nature

5.1. Introduction / Key Findings

5.2. Historical Market Size (US$ Mn) and Volume Analysis By Nature , 2016 - 2020

5.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Nature, 2020 - 2031

5.3.1. Organic

5.3.2. Conventional

5.4. Market Attractiveness Analysis By Nature

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Tags: North America Superfood Market, Superfood Market Demand, Superfood Market Growth, Superfood Market Revenue, Superfood Market Sales, Superfood Market, Superfood Industry Size, Superfood Industry Share

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