Redding, California, May 04, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Europe Nannochloropsis Market by Form (Frozen, Liquid, Powder, Fresh Pastes), Application (Aquafeed, Extraction Companies, Other Application) - Forecast to 2030,’ in terms of value, the Europe Nannochloropsis market is expected to reach $4.79 million by 2030, at a CAGR of 9.0% during the forecast period 2023–2030. In terms of volume, the Europe Nannochloropsis market is expected to reach 39.93 tons by 2030, at a CAGR of 9.6% during the forecast period 2023–2030.
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Nannochloropsis is a genus of green microalgae, a nonmotile sphere shaped with an average diameter of 2–5 microns in diameter. It is found in both fresh and marine environments. There is a great interest in Nannochloropsis production, mainly because this microalga contains a considerable amount of lipids. The high protein content in Nannochloropsis makes it a very interesting nutritional profile. Nannochloropsis cell mass comprises 50–55% crude protein. It has been used to produce aquafeed, nutraceuticals, and feed supplements for several decades. The growth of this market is mainly attributed to the increasing demand for algae protein, the rising need for protein-rich and lipid-rich aquafeed, and the growing demand for omega-3 fatty acids. Moreover, the growing demand from the biodiesel industry creates lucrative growth opportunities for Nannochloropsis stakeholders in Europe.
The Europe Nannochloropsis market is segmented based on form, application, and geography.
Key Findings in the Europe Nannochloropsis Market Study:
Based on form, the Europe Nannochloropsis market is segmented into frozen, liquid, powder, and fresh pastes. In 2023, the frozen segment is expected to account for the largest share of the Europe Nannochloropsis market. The large market of this segment is 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). Moreover, this segment is expected to record the highest CAGR during the forecast period as frozen Nannochloropsis biomass promotes easy management in biomass production of lipid-enriched rotifers.
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Based on application, the Europe Nannochloropsis market is mainly segmented into aquafeed, extraction companies, and other applications. In 2023, the aquafeed segment is expected to account for the largest share of the Europe Nannochloropsis market. Nannochloropsis sp. is one of the most extensively used microalgae in aquaculture due to their nutritional value and the ability to produce valuable chemical compounds, such as pigments (zeaxanthin, astaxanthin, and canthaxanthin) and polyunsaturated fatty acids (EPA). This segment is also expected to record the highest CAGR during the forecast period.
Based on geography, the Europe Nannochloropsis market is segmented into Spain, Portugal, Germany, Italy, France, the U.K., Denmark, Sweden, and the Rest of Europe. In 2023, Spain is expected to account for the largest share of the Europe Nannochloropsis market. The large market share of Spain is attributed to the growing aquaculture industry and the necessity for aquafeed, government support to the fishery sector, and consumer inclination toward a healthier lifestyle. Moreover, demand from the biodiesel industry and the growing vegetarian population are expected to create lucrative growth opportunities for Nannochloropsis manufacturers in this country.
The key players operating in the Europe Nannochloropsis market are BlueBioTech Group (Germany), Reed Mariculture Inc. (U.S.), Necton S.A. (Portugal), Astaxa GmbH (Germany), Proviron Industries NV (Belgium), Allmicroalgae Natural Products S.A. (Portugal), Algatechnologies Ltd. (A Part of Solabia Group) (Israel), Monzón Biotech S.L. (Spain), A4f Algae for Future (Portugal), AlgaSpring B.V. (Netherlands), and Archimede Ricerche Srl (Italy).
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Scope of the report:
Europe Nannochloropsis Market, by Form
- Frozen
- Liquid
- Powder
- Fresh Pastes
Europe Nannochloropsis Market, by Application
- Aquafeed
- Extraction Companies
- Other Applications
Europe Nannochloropsis Market, by Geography
- Spain
- Portugal
- Germany
- Italy
- France
- U.K.
- Denmark
- Sweden
- Rest of Europe
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