REDDING, Calif. ,
July 3,
2024 /PRNewswire/ -- According to a new market
research report titled, 'Nannochloropsis Market Size,
Share, Forecast, & Trends Analysis by Form (Frozen, Liquid,
Powder, Fresh Pastes), Application (Aquafeed, Extraction
Companies)- Global Forecast to 2031,' published by Meticulous
Research®, the Nannochloropsis market is projected
to reach $14.0 million by 2031, at a
CAGR of 8.5% from 2024 to 2031. In terms of volume, the
Nannochloropsis market is projected to reach 122 tons by 2031, at a
CAGR of 9.4% during the forecast period of 2024–2031.
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The growth of the Nannochloropsis market is driven by the
increasing demand for algal protein, the growing demand for
protein-rich and lipid-rich aquafeed, and the rising demand for
omega-3 fatty acids. However, the complex production process
restrains the growth of this market.
Furthermore, the growing demand from the biodiesel industry is
expected to offer market growth opportunities. However, the risk of
Nannochloropsis contamination is a major challenge impacting the
growth of the Nannochloropsis market.
Nannochloropsis is a genus of green microalgae, a nonmotile
sphere shaped with an average diameter of 2–5 microns. It is found
in both fresh and marine environments. There is a great interest in
Nannochloropsis production, primarily because it contains a
considerable amount of lipids and protein, making it a very
interesting nutritional profile. Nannochloropsis cell mass
comprises 50–55% crude protein. It has been used in the production
of aquafeed, nutraceuticals, and feed supplements for several
decades.
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The Nannochloropsis market is segmented by form (frozen, liquid,
powder, and fresh pastes), application (aquafeed, extraction
companies, and other applications), and geography (North America, Europe, Latin
America, Asia-Pacific, and
the Middle East & Africa).
The report includes an extensive assessment of the key strategic
developments by leading market participants in the industry over
the past four years (2021–2024). The Nannochloropsis market has
witnessed several partnerships, agreements, collaborations,
mergers, and acquisitions in recent years. The key players
operating in the Nannochloropsis market are Proviron Industries NV
(Belgium), Reed Mariculture Inc.
(U.S.), Necton S.A. (Portugal),
BlueBioTech Group (Germany),
Allmicroalgae Natural Products S.A. (Portugal), Algatechnologies Ltd. (A Part of
Solabia Group) (Israel), A4f Algae
for Future (Portugal), Green Aqua
Company SGPS S.A. (Portugal),
AlgaSpring B.V. (Netherlands),
Archimede Ricerche S.r.l (Italy),
Astaxa GmbH (Germany), and Shaivaa
Algaetech LLP (India).
Key Findings in the Nannochloropsis Market Study:
Among all the forms studied in this report, in terms of value,
in 2024, the frozen segment is expected to account for the largest
share of over 61.5% of the Nannochloropsis market.
The large market share of this segment is attributed to the higher
adoption of frozen Nannochloropsis in aquafeed applications,
especially in aquaculture hatcheries to establish the initial step
of an artificial food chain considering its high nutritional value
and rich source of fatty acids (EPA, ARA). Moreover, this segment
is also projected to register the highest CAGR
of 8.9% during the forecast period of 2024–2031
because frozen Nannochloropsis biomass promotes easier management
in biomass production of lipid-enriched rotifers.
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Among all the applications studied in this report, in 2024, the
aquafeed segment is expected to account for the larger share of
73% of the Nannochloropsis market. The large share of this
segment is attributed to the extensive use of Nannochloropsis sp.
in aquaculture due to its nutritional value and ability to produce
valuable chemical compounds, such as pigments (zeaxanthin,
astaxanthin, and canthaxanthin) and polyunsaturated fatty
acids.
Based on geography, the Nannochloropsis market is majorly
segmented into five regions: North
America, Europe,
Asia-Pacific, Latin America, and the Middle East & Africa. In terms of value, in 2024,
Europe is expected to account for
the largest share of 35.7% of the Nannochloropsis market.
This region is also slated to register the highest CAGR of
9.0% during the forecast period of 2024–2031. Europe's large market share is attributed to
the growing aquaculture industry and need for aquafeed, increasing
health awareness, rising demand for omega-3 fatty acids, and
increasing demand for algae protein. Additionally, the growing
demand from the biodiesel industry is expected to create lucrative
opportunities for Nannochloropsis manufacturers in the region.
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Scope of the Report:
Nannochloropsis Market Assessment—by Form
- Frozen
- Liquid
- Powder
- Fresh Pastes
Nannochloropsis Market Assessment—by Application
- Aquafeed
- Extraction Companies
- Other Applications
Nannochloropsis Market Assessment—by Geography
- North America
- Europe
- Spain
- Portugal
- Germany
- Italy
- France
- U.K.
- Denmark
- Sweden
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
- Egypt
- Saudi Arabia
- South Africa
- UAE
- Rest of Middle East &
Africa
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