This report is executed in collaboration with the European Algae Biomass Association (EABA). Combining Meticulous Research®’ market intelligence services with EABA’s broad expertise in the development of research, technology and industrial capacities in the field of algae, the two organizations have leveraged their research capabilities to come up with the most reliable and accurate market assessments in this field.
The Nannochloropsis Market is expected to reach $15.8 million by 2028, at a CAGR of 8.5% during the forecast period 2021–2028. The growth of this market is mainly attributed to the increasing demand for algae protein, protein- and lipid-rich aquafeed, and omega-3 fatty acids. Moreover, the growing demand from the biodiesel industry creates lucrative growth opportunities for Nannochloropsis stakeholders worldwide. However, the complex production process hinders the growth of this market to some extent.
Impact of COVID-19 on the Nannochloropsis Market
The COVID-19 pandemic adversely affected several economies globally. Several governments across the world issued nationwide lockdowns and quarantines to contain the COVID-19 outbreak, negatively impacting numerous industries. Most manufacturers in the food & beverage sector felt the brunt of the pandemic as social distancing, self-isolation, and city-wide lockdowns forced the closures of establishments worldwide.
In the algae industry, a major slowdown in overall microalgae sales was witnessed in the first quarter of 2020 due to disruptions in logistics and transportation. The market also witnessed interruptions in the entire value chain from raw materials supply for culture media to production, packaging, and biomass distribution.
The effects of the COVID-19 pandemic on this market were felt in China towards the beginning of 2020. The country is one of the world's largest producers and leading consumers of microalgal species, including Nannochloropsis. Factory closures, microalgae processing facilities operating at reduced capacities, and restrictions on the import and export of algae biomass had a strong impact on the Nannochloropsis market in China.
In addition, the COVID-19 pandemic is also expected to adversely impact this market across several countries globally, including the U.S., India, Australia, Brazil, and the EU-5 countries. The nationwide lockdowns in India resulted in the closure of numerous commercial microalgae production and processing facilities or forced them to operate at reduced capacities, leading to a substantial decline in overall domestic microalgal production.
Therefore, the negative impacts of the COVID-19-induced lockdowns on the transportation and logistics industry and overall production of microalgae across several countries are projected to adversely affect the global Nannochloropsis market in terms of volume sales in 2020 and 2021.
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Increasing Demand for Algae Protein Fuels the Growth of the Nannochloropsis Market
Algae proteins are used for promoting weight loss, reducing fatigue & anxiety, and attention deficit-hyperactivity disorder (ADHD) in the case of diabetes, and premenstrual cardiovascular diseases, among other health issues. Enrichment of the nutrient content in food, positive effect on the immune system, and other health-related benefits of the product drive the demand for algal protein globally. Moreover, rising sustainability issues such as the increase in greenhouse gas emissions and loss of biodiversity during the production of animal protein have resulted in the shift in consumer preferences towards plant-based and other alternative sources.
Microalgae are rich in protein, lipids, and essential fatty acids. Microalgal proteins are in great demand from the animal feed and human food sectors. The high protein content in Nannochloropsis makes it a very interesting nutritional profile. Nannochloropsis cell mass comprises 50–55% crude protein. Therefore, the growing demand for algae protein and the high amount of protein in Nannochloropsis is expected to drive the growth of the Nannochloropsis market across the globe.
Key Findings in the Global Nannochloropsis Market Study:
Frozen Nannochloropsis Segment Dominates Nannochloropsis Market in 2021
Based on form, the Nannochloropsis market is mainly segmented into frozen, liquid, powder, and fresh paste. In 2021, the frozen Nannochloropsis segment is estimated to account for the largest share of the global Nannochloropsis market.
The growth of this segment is primarily attributed to its wide range of applications in aquaculture hatcheries to establish the initial step of an artificial food chain as frozen Nannochloropsis are rich in fatty acids (EPA, ARA). Additionally, this segment is expected to record the highest CAGR during the forecast period as frozen Nannochloropsis biomass promotes easier management in biomass production of lipid-enriched rotifers.
Aquafeed Application Segment Dominate Nannochloropsis Market in 2021
Based on application, the Nannochloropsis market is segmented into aquafeed, extraction companies, and other applications. In 2021, the aquafeed segment is estimated to account for the largest share of the global 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, canthaxanthin) and polyunsaturated fatty acids (EPA). The growth of this segment is mainly attributed to the growth of the global aquaculture industry along with the growing aquafeed sector and the rising demand for protein-rich aquafeeds.
Europe Dominates the Overall Nannochloropsis Market in 2021
Based on geography, the global Nannochloropsis market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2021 Europe is estimated to account for the largest share of the global Nannochloropsis market, followed by North America and Asia-Pacific.
The large market share of Europe is mainly 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 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 global Nannochloropsis market research report are Green Aqua Company SGPS S.A. (Portugal), Lyxia Corporation (China), Monzón Biotech S.L (Spain), Shaivaa Algaetech LLP (India), Algatech LTD (a part of Solabia Group) (Israel), Allmicroalgae- Natural Products S.A. (Portugal), BlueBioTech Int. GmbH (Germany), 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).
Scope of the Report:
Nannochloropsis Market, by Form
Nannochloropsis Market, by Application
Nannochloropsis Market, by Geography
Key Questions Answered in the Report-
This report provides pre & post COVID-19 market estimates.
1. Introduction
1.1. Market Definition
1.2. Market Ecosystem
1.3. Currency
2. Research Methodology
2.1. Research Process
2.2. Data Collection & Validation
2.2.1. Secondary Research
2.2.2. Primary Research
2.3. Market Assessment
2.3.1. Market Size Estimation
2.3.1.1. Bottom-Up Approach
2.3.1.2. Top-Down Approach
2.3.1.3. Growth Forecast
2.4. Assumptions for the Study
2.5. Limitations for the Study
3. Executive Summary
3.1. Introduction
3.2. Segment Analysis
3.2.1. Form Segment Analysis
3.2.2. Application Segment Analysis
3.2.3. Regional Analysis
3.2.4. Key Players
4. Market Insights
4.1. Introduction
4.2. Drivers
4.2.1. Increasing Demand for Algae Protein
4.2.2. Growing Demand for Protein-rich and Lipid-rich Aquafeed
4.2.3. Rising Demand for Omega-3 Fatty Acid
4.3. Restraints
4.3.1. Complex Production Process for Nannochloropsis
4.4. Opportunity
4.4.1. Growing Demand from the Biodiesel Industry
4.5. Challenges
4.5.1. Risk of Nannochloropsis Contamination
5. The Impact of Covid-19 on the Nannochloropsis Market
6. Global Nannochloropsis Market, by Form
6.1. Introduction
6.2. Frozen
6.3. Liquid
6.4. Powder
6.5. Fresh Pastes
7. Global Nannochloropsis Market, by Application
7.1. Introduction
7.2. Aquafeed
7.3. Extraction Companies
7.4. Other Applications
8. Nannochloropsis Market, by Geography
8.1. Introduction
8.2. North America
8.2.1. U.S.
8.2.2. Canada
8.3. Europe
8.3.1. Spain
8.3.2. Portugal
8.3.3. Germany
8.3.4. Italy
8.3.5. France
8.3.6. Rest of Europe (RoE)
8.4. Asia-Pacific
8.4.1. China
8.4.2. India
8.4.3. Japan
8.4.4. Australia
8.4.5. Rest of Asia-Pacific (RoAPAC)
8.5. Latin America
8.5.1. Brazil
8.5.2. Mexico
8.5.3. Rest of Latin America (RoLATAM)
8.6. The Middle East & Africa
9. Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
9.1. Green Aqua Company SGPS S.A.
9.2. Reed Mariculture Inc.
9.3. Lyxia Corporation
9.4. BlueBioTech Int. GmbH
9.5. Algatech LTD (A part of Solabia Group)
9.6. Allmicroalgae Natural Products S.A.
9.7. Necton S.A.
9.8. AlgaSpring B.V.
9.9. Archimede Ricerche Srl
9.10. Proviron Industries NV
9.11. Monzón Biotech S.L
9.12. Shaivaa Algaetech LLP
9.13. Astaxa GmbH
10. Appendix
10.1. Questionnaire
10.2. Available Customization
List of Tables
Table 1 Global Nannochloropsis Market: Impact Analysis of Market Drivers (2021–2028)
Table 2 Global Nannochloropsis Market: Impact Analysis of Market Restraints (2021–2028)
Table 3 Global Nannochloropsis Market Size, by Form, 2019–2028 (USD Thousand)
Table 4 Frozen Nannochloropsis Market Size, by Country/Region, 2019–2028 (USD Thousand)
Table 5 Liquid Nannochloropsis Market Size, by Country/Region, 2019–2028 (USD Thousand)
Table 6 Powder Nannochloropsis Market Size, by Country/Region, 2019–2028 (USD Thousand)
Table 7 Fresh Paste Nannochloropsis Market Size, by Country/Region, 2019–2028 (USD Thousand)
Table 8 Global Nannochloropsis Market Size, by Application, 2019–2028 (USD Thousand)
Table 9 Nannochloropsis Market Size for Aquafeed, by Country/Region, 2019–2028 (USD Thousand)
Table 10 Nannochloropsis Market Size for Extraction Companies, by Country/Region, 2019–2028 (USD Thousand)
Table 11 Nannochloropsis Market Size for Other Applications, by Country/Region, 2019–2028 (USD Thousand)
Table 12 Nannochloropsis Market Size, by Region, 2019–2028 (USD Thousand)
Table 13 Nannochloropsis Market Size, by Region, 2019–2028 (Tons)
Table 14 North America: Nannochloropsis Market Size, by Country, 2019–2028 (USD Thousand)
Table 15 North America: Nannochloropsis Market Size, by Form, 2019–2028 (USD Thousand)
Table 16 North America: Nannochloropsis Market Size, by Application, 2019–2028 (USD Thousand)
Table 17 U.S.: Nannochloropsis Market Size, by Form, 2019–2028 (USD Thousand)
Table 18 U.S.: Nannochloropsis Market Size, by Application, 2019–2028 (USD Thousand)
Table 19 Canada: Nannochloropsis Market Size, by Form, 2019–2028 (USD Thousand)
Table 20 Canada: Nannochloropsis Market Size, by Application, 2019–2028 (USD Thousand)
Table 21 Europe: Nannochloropsis Market Size, by Country, 2019–2028 (USD Thousand)
Table 22 Europe: Nannochloropsis Market Size, by Form, 2019–2028 (USD Thousand)
Table 23 Europe: Nannochloropsis Market Size, by Application, 2019–2028 (USD Thousand)
Table 24 Spain: Nannochloropsis Market Size, by Form, 2019–2028 (USD Thousand)
Table 25 Spain: Nannochloropsis Market Size, by Application, 2019–2028 (USD Thousand)
Table 26 Portugal: Nannochloropsis Market Size, by Form, 2019–2028 (USD Thousand)
Table 27 Portugal: Nannochloropsis Market Size, by Application, 2019–2028 (USD Thousand)
Table 28 Germany: Nannochloropsis Market Size, by Form, 2019–2028 (USD Thousand)
Table 29 Germany: Nannochloropsis Market Size, by Application, 2019–2028 (USD Thousand)
Table 30 Italy: Nannochloropsis Market Size, by Form, 2019–2028 (USD Thousand)
Table 31 Italy: Nannochloropsis Market Size, by Application, 2019–2028 (USD Thousand)
Table 32 France: Nannochloropsis Market Size, by Form, 2019–2028 (USD Thousand)
Table 33 France: Nannochloropsis Market Size, by Application, 2019–2028 (USD Thousand)
Table 34 RoE: Nannochloropsis Market Size, by Form, 2019–2028 (USD Thousand)
Table 35 RoE: Nannochloropsis Market Size, by Application, 2019–2028 (USD Thousand)
Table 36 Asia-Pacific: Nannochloropsis Market Size, by Country, 2019-2028 (USD Thousand)
Table 37 Asia-Pacific: Nannochloropsis Market Size, by Form, 2019–2028 (USD Thousand)
Table 38 Asia-Pacific: Nannochloropsis Market Size, by Application, 2019–2028 (USD Thousand)
Table 39 China: Nannochloropsis Market Size, by Form, 2019–2028 (USD Thousand)
Table 40 China: Nannochloropsis Market Size, by Application, 2019–2028 (USD Thousand)
Table 41 India: Nannochloropsis Market Size, by Form, 2019–2028 (USD Thousand)
Table 42 India: Nannochloropsis Market Size, by Application, 2019–2028 (USD Thousand)
Table 43 Japan: Nannochloropsis Market Size, by Form, 2019–2028 (USD Thousand)
Table 44 Japan: Nannochloropsis Market Size, by Application, 2019–2028 (USD Thousand)
Table 45 Australia: Nannochloropsis Market Size, by Form, 2019–2028 (USD Thousand)
Table 46 Australia: Nannochloropsis Market Size, by Application, 2019–2028 (USD Thousand)
Table 47 RoAPAC: Nannochloropsis Market Size, by Form, 2019–2028 (USD Thousand)
Table 48 RoAPAC: Nannochloropsis Market Size, by Application, 2019–2028 (USD Thousand)
Table 49 Latin America: Nannochloropsis Market Size, by Country, 2019–2028 (USD Thousand)
Table 50 Latin America: Nannochloropsis Market Size, by Form, 2019–2028 (USD Thousand)
Table 51 Latin America: Nannochloropsis Market Size, by Application, 2019–2028 (USD Thousand)
Table 52 Brazil: Nannochloropsis Market Size, by Form, 2019–2028 (USD Thousand)
Table 53 Brazil: Nannochloropsis Market Size, by Application, 2019–2028 (USD Thousand)
Table 54 Mexico: Nannochloropsis Market Size, by Form, 2019–2028 (USD Thousand)
Table 55 Mexico: Nannochloropsis Market Size, by Application, 2019–2028 (USD Thousand)
Table 56 RoLATAM: Nannochloropsis Market Size, by Form, 2019–2028 (USD Thousand)
Table 57 RoLATAM: Nannochloropsis Market Size, by Application, 2019–2028 (USD Thousand)
Table 58 Middle East & Africa: Nannochloropsis Market Size, by Form, 2019–2028 (USD Thousand)
Table 59 Middle East & Africa: Nannochloropsis Market Size, by Application, 2019–2028 (USD Thousand)
List of Figures
Figure 1 Key Stakeholders
Figure 2 Research Process
Figure 3 Key Secondary Sources
Figure 4 Primary Research Techniques
Figure 5 Key Executives Interviewed
Figure 6 Breakdown of Primary Interviews (Supply-Side & Demand-Side)
Figure 7 Market Size Estimation
Figure 8 Frozen Nannochloropsis Segment to Dominate Nannochloropsis Market by 2028
Figure 9 Aquafeed Application Segment Dominate Overall Nannochloropsis Market in 2021
Figure 10 Europe Dominates the Overall Nannochloropsis Market
Figure 11 Market Dynamics
Figure 12 Global Nannochloropsis Market Size, by Form, 2021 Vs. 2028 (USD Thousand)
Figure 13 Global Nannochloropsis Market Size, by Application, 2021 Vs. 2028 (USD Thousand)
Figure 14 Nannochloropsis Market Size, by Region, 2021–2028 (USD Thousand)
Figure 15 U.S.: Fish Production, 2018 Vs. 2030 (Thousand Tons)
Figure 16 Europe: Aquaculture Fish Production, 1995–2018 (Thousand Tons)
Figure 17 India: Fish Production, 2010-2020 (Million Metric Tons)
This report provides pre & post COVID-19 market estimates.
This report provides pre & post COVID-19 market estimates.
Published Date: Apr-2023
Published Date: Feb-2023
Published Date: Apr-2023
Published Date: Feb-2023
