Nannochloropsis Market to Reach $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 projected to reach $14 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.

Key Players

The Nannochloropsis market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the Nannochloropsis market are 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), and Shaivaa Algaetech LLP (India).

The Nannochloropsis market is segmented by form (frozen, liquid, powder, and fresh pastes), application (aquafeed, extraction companies, and other applications), and geography (North America, Europe, Latin America, Asia-Pacific, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the regional and country-level markets.

Based on form, the Nannochloropsis market is segmented into frozen, liquid, powder, and fresh pastes. 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).

Based on application, the Nannochloropsis market is segmented into aquafeed, extraction companies, and other applications. 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.

Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis of North America (the U.S. and Canada), Europe (Spain, Portugal, Germany, Italy, France, U.K., Denmark, Sweden, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa (Egypt, Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa).

In terms of value, 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.

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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?

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