Meticulous Research® –a leading global market research company published a research report titled “Nannochloropsis-Derived Lipids (Fatty Acids) Market by Application (Human Nutrition (Health Supplements & Nutraceuticals, Pharmaceuticals, Other Human Nutritional Applications), Animal Nutrition, and Other Applications) - Global Forecast to 2028.”
According to this latest publication from Meticulous Research®, the Nannochloropsis-Derived Lipids (Fatty Acids) Market is expected to record a CAGR of 8.5% from 2021 to 2028 to reach $4.20 million by 2028. The growth of this market is mainly attributed to the growing awareness about the health benefits of omega-3 Polyunsaturated fatty acids (PUFAs), rising demand for functional food products, and growing prevalence of diabetes and obesity. Moreover, the growing demand for algae oil-based biofuel and increasing demand for omega-3 from the pharmaceutical industry creates lucrative growth opportunities for Nannochloropsis-derived lipid (fatty acids) manufacturers. However, the complex production process of Nannochloropsis-derived lipids (fatty acids) hinders market growth to some extent.
The global Nannochloropsis-Derived Lipids (Fatty Acids) Market study presents historical market data in terms of values (2019 and 2020), estimated current data (2021), and forecasts for 2028- by application (human nutrition (health supplements & nutraceuticals, pharmaceuticals, other human nutritional applications), animal nutrition, and other applications). The study also evaluates industry competitors and analyzes at the regional and country-level.
Based on application, the Nannochloropsis derived lipids (fatty acids) market is mainly segmented into human nutrition, animal nutrition, and other applications. The human nutrition segment is estimated to account for the largest share of the global Nannochloropsis derived lipids (fatty acids) market in 2021, owing to the increasing demand for algae oil from nutraceuticals, dietary supplements, infant formula, and F&B industries. Rising consumption of packaged baby nutrition products owing to an increasing working population is further expected to drive the growth of the Nannochloropsis derived lipids (fatty acids) market for human nutrition, as algae omega-3 DHA plays an important role in the development of an infant's nervous system, vision, brain, and overall growth. Moreover, the increasing demand for immunity-boosting products is expected to create lucrative opportunities for the stakeholders in the Nannochloropsis-derived lipids (fatty acids) market for human nutrition.
Based on type (human nutrition-related applications), the Nannochloropsis derived lipids (fatty acids) market is mainly segmented into health supplements and nutraceuticals, pharmaceuticals, and other human nutrition applications. The health supplements & nutraceuticals segment is estimated to account for the largest share of the global Nannochloropsis derived lipids (fatty acids) market for human nutrition in 2021, owing to the growing health supplements and nutraceutical industry and rising use of algae oil instead of fish oil in the health supplements and nutraceutical industry.
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This research report also analyzes major geographies and provides comprehensive analysis for North America (U.S., Canada), Europe (Spain, Portugal, Germany, Italy, France, Scandinavia, and RoE), Asia-Pacific (China, India, Japan, Australia, and RoAPAC), Latin America (Brazil, Mexico, and RoLATAM), and Middle East & Africa.
Europe is estimated to account for the largest share of the global Nannochloropsis derived lipids (fatty acids) market in 2021, followed by North America and Asia-Pacific, owing to the increasing consumption of health and wellness products and growing prevalence of heart diseases. Also, the easy availability of raw materials due to the presence of key Nannochloropsis biomass suppliers for lipid extraction further drives the growth of this market in the region. Moreover, the growing nutraceuticals and dietary supplements industry and rising popularity of omega 3 fortified/functional food and beverages among the aging population are expected to create lucrative opportunities for the stakeholders in the Nannochloropsis derived lipids (fatty acids) market 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-derived lipids (fatty acids) market research report are Arizona Algae Products, LLC (U.S.), Lyxia Corporation (China), Shaivaa Algaetech LLP (India), and iwi Life (U.S.), among others.
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