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Redding, California - May 30, 2024

Nannochloropsis Market to be Worth $14 Million by 2031

Nannochloropsis Market Size, Share, Forecast, & Trends Analysis by Form (Frozen, Liquid, Powder, Fresh Pastes), Application (Aquafeed, Extraction Companies)- Global Forecast to 2031


Meticulous Research®—a leading global market research company, published a 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.

According to this latest publication from Meticulous Research®, the Nannochloropsis Market is expected to record a CAGR of 8.5% from 2024 to 2031 to reach $14 million by 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. 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, and fresh paste) and application (aquafeed, extraction companies, and 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 2024, the frozen Nannochloropsis segment is estimated to account for the largest share of 61.5% of the 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 of 8.9% 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 2024, the aquafeed segment is estimated to account for the largest share of 72.9% of the Nannochloropsis market. Nannochloropsis 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, the growing aquafeed sector, and the increasing demand for protein-rich aquafeeds.

This research report also analyzes major geographies and provides a comprehensive analysis of North America (U.S. and 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 36.2% of the Nannochloropsis market in 2024, 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.

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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Key Questions Answered in the Report:

  • Which are the high-growth market segments in terms of form, application, and region/country?
  • What was the historical market size for Nannochloropsis across the globe?
  • What are the market forecasts and estimates for 2024–2031?
  • What are the major drivers, restraints, opportunities, and challenges for the Nannochloropsis market?
  • Who are the major players in the Nannochloropsis market?
  • How is the competitive landscape, and who are the market leaders in the Nannochloropsis market?
  • What are the recent developments in the Nannochloropsis market?
  • What are the geographical trends and high-growth regions/countries?
  • Who are the local emerging players in the Nannochloropsis market, and how do they compete with the global players?

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Nannochloropsis Market - Global Opportunity Analysis And Industry Forecast (2024-2031)
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