Nannochloropsis Market Worth $15.8 Million by 2028
According to this latest publication from Meticulous Research®, the Nannochloropsis market is expected to record a CAGR of 8.5% from 2021 to 2028 to reach $15.8 million by 2028. The growth of this market is mainly attributed to the increasing demand for algae protein, growing demand for protein- and lipid-rich aquafeed, and rising demand for omega-3 fatty acids.
In addition, the growing demand from the biodiesel industry creates lucrative opportunities for the vendors operating in the Nannochloropsis market. However, the complex production process for Nannochloropsis hinders the growth of this market to some extent.
This market is segmented by form (frozen, liquid, powder, fresh pastes) and application (aquafeed, extraction companies, other applications). The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Based on form, the Nannochloropsis market is segmented into frozen, liquid, powder, and fresh paste. In 2021, the frozen Nannochloropsis segment is estimated to account for the largest share of the global Nannochloropsis market. The large market share of this segment is attributed to its large application in aquaculture hatcheries to establish the initial step of an artificial food chain as it is rich in fatty acids (EPA, ARA). Additionally, this segment is expected to record the highest CAGR during the forecast period as frozen Nannochloropsis biomass promotes easier management in biomass production of lipid-enriched rotifers.
Based on application, the Nannochloropsis market is segmented into aquafeed, extraction companies, and other applications. In 2021, the aquafeed segment is estimated to account for the largest share of the global Nannochloropsis market. Nannochloropsis sp. is one of the most extensively used microalgae in aquaculture because of its nutritional value and ability to produce valuable chemical compounds, such as pigments (zeaxanthin, astaxanthin, canthaxanthin) and polyunsaturated fatty acids (EPA). The high growth rate of this segment is mainly attributed to the growing global aquaculture industry and the growing aquafeed sector, and the increasing demand for protein-rich aquafeeds.
This research report also analyzes major geographies and provides comprehensive analysis for North America (U.S., Canada), Europe (Spain, Portugal, Germany, Italy, France, and RoE), Asia-Pacific (China, India, Japan, Australia, and RoAPAC), Latin America (Brazil, Mexico, and RoLATAM), and the Middle East & Africa.
Europe is estimated to account for the largest share of the global Nannochloropsis market in 2021, followed by North America and Asia-Pacific. The large market share of this region is mainly attributed to the growing aquaculture industry and need for aquafeed, increasing health awareness, rising demand for omega-3 fatty acids, increasing demand for algae protein, and the presence of key Nannochloropsis biomass manufacturers. Moreover, growing demand from the biodiesel industry is further expected to create lucrative opportunities for Nannochloropsis manufacturers in the region.
The report includes a competitive landscape based on an extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 4–5 years. The key players profiled in the global Nannochloropsis market research report are Green Aqua Company SGPS S.A. (Portugal), Lyxia Corporation (China), Monzón Biotech S.L (Spain), Shaivaa Algaetech LLP (India), Algatech LTD (a part of Solabia Group) (Israel), Allmicroalgae- Natural Products S.A. (Portugal), BlueBioTech Int. GmbH (Germany), Necton S.A. (Portugal), Reed Mariculture Inc. (U.S.), AlgaSpring B.V. (Netherlands), Archimede Ricerche Srl (Italy), Proviron Industries NV (Belgium), and Astaxa GmbH (Germany).
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Scope of the Report:
Nannochloropsis Market, by Form
Nannochloropsis Market, by Application
Nannochloropsis Market, by Geography
Rest of Europe (RoE)
Rest of APAC (RoAPAC)
Rest of Latin America (RoLATAM)
Middle East and Africa
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