Dublin, Aug. 20, 2024 (GLOBE NEWSWIRE) -- The "Nannochloropsis Market Size, Share, Forecast, & Trends Analysis by Form, Application - Global Forecast to 2031" report has been added to ResearchAndMarkets.com's offering.
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.
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 of Nannochloropsis 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.
In terms of value, in 2024, the frozen segment is expected to account for the largest share of 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.
In 2024, the aquafeed segment is expected to account for the largest share of 72.9% of the Nannochloropsis market. The segment's large share 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.
In 2024, Europe is expected to account for the largest share of 35.7% of the Nannochloropsis market. Europe's major 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.
Key Questions Answered in the Report:
- What is the value of revenue generated by the Nannochloropsis market?
- At what rate is the global demand for Nannochloropsis projected to grow for the next 5-7 years?
- What is the historical market size and growth rate for the Nannochloropsis market?
- What are the major factors impacting the growth of this market at global and regional levels?
- What are the major opportunities for existing players and new entrants in the market?
- Which form and application segments create major traction for the manufacturers in this market?
- What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the Nannochloropsis market?
- Who are the major players in the Nannochloropsis market? What are their specific product offerings in this market?
- What recent developments have taken place in the Nannochloropsis market? What impact have these strategic developments created on the market?
Market Insights
- Increasing Demand for Algal Protein Driving Market Growth
- Rising Need for Protein-rich and Lipid-rich Aquafeed Propelling the Demand for Nannochloropsis
- Rising Demand for Omega-3 Fatty Acid Increasing the Utilization of Nannochloropsis
- Complex Production Process of Nannochloropsis Restraining Market Growth
- Growing Demand From the Biodiesel Industry Expected to Generate Opportunities for Market Players
- Risk of Nannochloropsis Contamination Expected to Remain A Major Challenge in Market Expansion
Pricing Analysis
Porter's Five Forces Analysis
Company Profiles
- 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)
- Shaivaa Algaetech LLP (India)
Competition Analysis
- Competitive Benchmarking
- Competitive Dashboard
- Industry Leaders
- Market Differentiators
- Vanguards
- Emerging Companies
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
- 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
For more information about this report visit https://www.researchandmarkets.com/r/snzs3e
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
