Nannochloropsis is a genus of microalgae from the phylum Ochrophyta, class Eustigmatophyceae. These unicellular algae are spherical or oblong, measuring 2-5 microns in diameter. Nannochloropsis sp. contains high amounts of omega-3 fatty acids in the form of eicosapentaenoic acid (EPA), which is a vegan alternative for fish oil. Moreover, the high protein content present in Nannochloropsis makes it a very interesting nutritional profile. Nannochloropsis cell mass comprised 50–55% crude protein. In addition, Nannochloropsis has been used for several decades to produce aquafeed, nutraceuticals, and feed supplements.
Global climate change due to the increase in greenhouse gas emissions and the depletion of conventional fuel reserves have become a growing concern over the years. These factors have resulted in the growing demand for biofuels globally. Biofuels are a secure, sustainable, and clean source of energy. In addition, the growing pressure of lowering carbon emissions and finding a replacement for conventional fuels has made biofuels an appealing alternative energy source in recent years.
Biodiesel is the future fuel of the transportation industry, which is paving the way for its market growth globally. Biodiesel fuel is similar to diesel but is an eco-friendly and clean-burning liquid fuel. Unlike other fuels, it does not produce any harmful chemicals during combustion, thus making it environment-friendly.
Biofuel from microalgae is a suitable solution for replacing conventional fuels such as petrol and diesel. Moreover, microalga species such as Nannochloropsis oculata are a promising source of biodiesel due to their ease of growth, high oil content (28.7% of dry weight), and ability to produce cellular lipid, which is further converted to biodiesel through a transesterification reaction. These factors have resulted in the increased demand for Nannochloropsis microalgae from the biodiesel industry.
According to the latest publication on the Nannochloropsis Market by Meticulous Research®, the Nannochloropsis market is expected to record a CAGR of 8.5% from 2021 to 2028 to reach $15.8 million by 2028.
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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 growth opportunities for Nannochloropsis manufacturers globally. However, the complex production process for Nannochloropsis hinders the growth of this market to some extent.
To provide efficient analysis, Meticulous Research® has segmented this market by form (frozen, liquid, powder, and fresh pastes), application (aquafeed, extraction companies, and other applications), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Scope of the Report:
Nannochloropsis Market, by Form
- Frozen
- Liquid
- Powder
- Fresh Pastes
Nannochloropsis Market, by Application
- Aquafeed
- Extraction Companies
- Other Application
Nannochloropsis Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Spain
- Portugal
- Germany
- Italy
- France
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- India
- Japan
- Australia
- Rest of APAC (RoAPAC)
- Latin America
- Brazil
- Mexico
- Rest of Latin America (RoLATAM)
- Middle East and Africa
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Based on geography, 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 this region 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. Moreover, the rising demand from the biodiesel industry is expected to create lucrative growth opportunities for Nannochloropsis manufacturers in the region.
Based on form, the frozen Nannochloropsis segment is estimated to account for the largest share of the global Nannochloropsis market in 2021. The growth of this segment is mainly attributed to its huge applications in aquaculture hatcheries to establish the initial step of an artificial food chain as frozen Nannochloropsis is 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.
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Based on application, the aquafeed segment is estimated to account for the largest share of the global Nannochloropsis market in 2021. Nannochloropsis sp. is one of the most extensively used microalgae in aquaculture due to its 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 rise of the global aquaculture industry along with the growing aquafeed sector and increasing demand for protein-rich aquafeeds.
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).
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