REDDING, Calif., June 6, 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," the Nannochloropsis market is expected to reach $14.0 million by 2031, at a CAGR of 8.5% during the forecast period 2024-2031. In terms of volume, the Nannochloropsis market is expected to reach 122 tons by 2031, at a CAGR of 9.4% from 2024 to 2031.
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Nannochloropsis is a genus of microalgae from the phylum Ochrophyta, class Eustigmatophyceae. These unicellular algae are spherical or oblong, measuring 2-5 microns in diameter. Nannochloropsis sp. contains high amounts of omega-3 fatty acids in the form of eicosapentaenoic acid (EPA), which is a vegan alternative to fish oil. Moreover, the high content of proteins present in Nannochloropsis makes it a very interesting nutritional profile. Nannochloropsis cell mass comprises 50-55% crude protein. In addition, Nannochloropsis has been used for several decades to produce aquafeed, nutraceuticals, and feed supplements.
The global Nannochloropsis market is segmented by form (frozen, liquid, powder, and fresh pastes) and application (aquafeed, extraction companies, and other applications). The study also evaluates industry competitors and analyzes the market at the regional and country levels.
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Key Findings in the Nannochloropsis Market Study:
Based on form, the frozen Nannochloropsis segment is estimated to account for the largest share of 61.5% of the Nannochloropsis market in 2024. The large market share of this segment is mainly attributed to its wide range of applications in aquaculture hatcheries to establish the initial step of an artificial food chain, as frozen Nannochloropsis 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 aquafeed segment is estimated to account for the largest share of 72.9% of the Nannochloropsis market in 2024. Nannochloropsis sp. is one of the most extensively used microalgae in aquaculture due to its nutritional value and ability to produce valuable chemical compounds, such as pigments (zeaxanthin, astaxanthin, canthaxanthin) and polyunsaturated fatty acids (EPA). The growth of this segment is mainly attributed to the growing global aquaculture industry along with the growing aquafeed sector and the increasing demand for protein-rich aquafeeds.
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Geographically, Europe is estimated to account for the largest share of 36.2% of the Nannochloropsis market in 2024, followed by North America and Asia-Pacific. The large market share of this region 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. Moreover, the rising demand from the biodiesel industry is further expected to create lucrative opportunities for Nannochloropsis manufacturers in the region.
Key Players
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 Nannochloropsis market research report are Allmicroalgae Natural Products S.A. (Portugal), Algatechnologies Ltd. (A Part of Solabia Group) (Israel), BlueBioTech International GmbH (Germany), Shaivaa Algaetech LLP (India), Monzón Biotech S.L. (Spain), A4f Algae for Future (Portugal), Green Aqua Company SGPS S.A. (Portugal), Lyxia Corporation (China), 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 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
- U.S.
- Canada
- Europe
- Spain
- Portugal
- Germany
- Italy
- France
- U.K.
- Denmark
- Sweden
- Germany
- Rest of Europe (RoE)
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific (RoAPAC)
- Latin America
- Brazil
- Mexico
- Rest of Latin America (RoLATAM)
- Middle East & Africa
- Egypt
- Saudi Arabia
- South Africa
- United Arab Emirates (UAE)
- Rest of the Middle East & Africa (RoMEA)
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