Global Nannochloropsis Market is segmented By Form (Frozen, Liquid, Powder, Fresh Pastes), By Cultivation Method (Open Pond Cultivation, Photobioreacter Cultivation, Closed System Cultivation, Others), By Application (Aquafeed, Nutraceuticals & Dietary Supplements, Cosmetics & Personal Care, Others), and By Region (North America, Europe, South America, Asia Pacific, Middle East, And Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Nannochloropsis Market Size
Global Nannochloropsis Market reached USD 8.5 billion in 2022 and is expected to reach USD 14.7 billion by 2030, growing with a CAGR of 7.1% during the forecast period 2024-2031. Algal biomass can embody a huge range of algae species, which includes microalgae like nannochloropsis, as well as macroalgae like seaweed.
Increase in the applications of nannochloropsis in the biofuel production helps to boost the market growth over the forecast period. Nannochloropsis has applications in aquafeed, nutraceuticals & dietary supplements, and cosmetics & personal care.
Nannochloropsis is increasingly used as a valuable ingredient in various nutritional supplements due to its rich composition of omega-3 fatty acids, proteins, vitamins, and minerals. Nannochloropsis microalgae is utilized in bioremediation process due to its capacity to effectively take in and put off pollution, such as heavy metals and organic contaminants, from water and soil environments.
Nannochloropsis Market Scope
Metrics |
Details |
CAGR |
7.1% |
Size Available for Years |
2022-2031 |
Forecast Period |
2024-2031 |
Data Availability |
Value (US$) |
Segments Covered |
Form, Cultivation Method, Application and Region |
Regions Covered |
North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
Fastest Growing Region |
Asia Pacific |
Largest Region |
Europe |
Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Nannochloropsis Market Dynamics
Increasing Health Concerns and the Availability of Essential Proteins and Nutrients in the Nannochloropsis
Consumers are becoming more conscious of their snacking habits and are increasingly adopting healthier foods such as algae protein due to their metabolic benefits. Healthy snacking is also well-regarded as a supplement to weight loss, as these snacks provide the body with important vitamins and nutrients. Over the forecast period, the global nannochloropsis market is expected to be driven by growing demand for weight control and healthy snacking.
According to the European Algae Biomass Association, by 2050, the world will need to produce 70% more food to feed a population of 10 billion people. These foods will need to meet a high nutritional standard while reducing their impact on the environment. The companies Unilever Food Solutions and Algenuity recognize the key role that diverse, plant-based proteins like nannochloropsis will play in transitioning toward this new food system.
Increasing in the Applications of Nannochloropsis in Aquafeed Helps to Boost Market Growth
The increasing applications of nannochloropsis in aquafeed have contributed to the increase in the market growth. Aquafeed refers to the specialized feed given to aquatic organisms, including fish, shrimp, and different farmed aquatic species. Nannochloropsis, a kind of microalgae, offers numerous advantages as an element in aquafeed formulations, which has brought about its growing recognition within the aquaculture industry.
Nannochloropsis is rich source of vital vitamins such as proteins, lipids, vitamins, minerals, and omega-three fatty acids. These vitamins are essential for the development, growth, and basic health of aquatic organisms. By adding nannochloropsis into aquafeed, the nutritional value of the aquafeed boost, leading to progressed growth, sickness resistance, and basic overall performance of the aquatic species.
High Production Cost of the Nannochloropsis Hampers Market Growth of Nannochloropsis Market
The high cost of the production of nannochloropsis is due to the several factors, which include cultivation methods, infrastructure, operational prices, and downstream processing. Establishing the vital infrastructure for nannochloropsis cultivation is capital-extensive. It frequently calls for specialized photobioreactors, cultivation ponds, or closed-loop structures to provide premier developing conditions.
These infrastructure investments can extensively make a contribution to the overall production price. Nannochloropsis cultivation commonly requires a controlled surroundings with adequate mild, temperature, and nutrient supply. Artificial lighting fixtures or temperature control structures, specially in indoor or closed-loop systems required high capital cost. The excessive electricity call for adds to the production value.
Nannochloropsis Market Segment Analysis
The global nannochloropsis market is segmented based on form, cultivation method, application, and region.
Increase in the Comsumers Demand for the Frozen Nannochloropsis due to its Shelf Life
The global nannochloropsis market by form has been segmented by frozen, liquid, powder, and fresh pastes.
Frozen nannochloropsis can store for an long period without degradation. By decreasing the temperature, the increase and metabolic activities of the microalgae are slow down which preserv its dietary price and viability. Freezing is a important method that enables maintain the dietary content of Nannochloropsis. Essential nutrients such as proteins, lipids, vitamins, and minerals remain distinctly solid all through freezing, making sure that the frozen nannochloropsis can provide valuable nutrition while utilized in numerous applications.
Frozen nannochloropsis offers comfort and versatility in terms of storage and usage. It may be without problems saved in freezers for an extended length, allowing for a solid deliver of microalgae in the course of the year. The frozen nannochloropsis can be incorporated into various products along with aquafeed, animal feed, dietary supplements, or biofuel manufacturing.
Source: DataM Intelligence Analysis (2023)
Global Nannochloropsis Market Geographical Share
Increased Demand for Nannochloropsis in Europe Region Due to Increasing Consumers Demand for Cosmetic Products
Several companies throughout the world are working on developing nannochloropsis cultivation and conversion technologies for algae feedstocks into energy and bioproducts. The majority of these companies are based in the Europe. Some of the companies are concentrating on demonstration projects for bioenergy production from microalgae, while the majority of them are only focused on the food, feed, and nutraceuticals markets.
Nannochloropsis has been approved by the Food and Drug Administration (FDA) in Europe as a ingredient in animal and fish feed, as well as in a cosmetic ingredient. With each passing year, the personal care industry in the Europe attaining new heights. Women in the Germany use an average of 12 personal care products every day, while men use 6. Consumer expenditure has switched mostly to skincare, with more independent brands with quicker supply chains and a stronger appeal to younger consumers.
Source: DataM Intelligence Analysis (2023)
Nannochloropsis Market Companies
The major global players include BlueBioTech Group, Reed Mariculture Inc., Necton S.A., Astaxa GmbH, Proviron Industries NV, Allmicroalgae Natural Products S.A., Algatechnologies Ltd., Monzón Biotech S.L., AlgaSpring B.V., and Archimede Ricerche Srl.
COVID-19 Impact on Nannochloropsis Market
COVID-19 Impact
According to trade organizations in the nutritional products industry, there has been a major influence on the worldwide supply chain for functional foods and dietary supplements, which has impacted end-user consumption of nannochloropsis, limiting the market growth. In the algal sector, problems in logistics and transportation caused a significant delay in nannochloropsis sales in the first quarter of 2020.
The entire value chain was interrupted, from the supply of raw materials for culture media to manufacture, packing, and biomass delivery. Beginning in 2020, the consequences of the COVID-19 pandemic on this market were felt in China, which is one of the world's top producers and consumers of microalgal species like Nannochloropsis. Factory closures, reduced capacity nannochloropsis processing facilities, and restrictions on importing and exporting algae biomass all have a significant impact on the nannochloropsis algae industry in China.
By Form
- Frozen
- Liquid
- Powder
- Fresh Pastes
By Cultivation Method
- Open Pond Cultivation
- Photobioreacter Cultivation
- Closed System Cultivation
- Others
By Application
- Aquafeed
- Nutraceuticals & Dietary Supplements
- Cosmetics & Personal Care
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- The U.K.
- France
- Italy
- Spain
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- Middle East and Africa
Key Developments
- On October 01, 2020, Cyanotech Corporation,a worlds leader in microalgae announced the launch of BioAstin Hawaiian Astaxanthin in the new form such as water dispersible powder. The new launched product is available in the both 1% and 2% concentrations.
- On September 15, 2020, AlgaEnergy N.A., a subsidiary of US based company AlgaEnergy S.A. and Concentric Ag, a market leader of microbial and plant nutrient crop inputs completed agreement for the product development of the microalgae-biological.
- On July 2020, Unilever, a food company and Algenuity, an biotech start-up announced a new partnership to delve into the huge potential of microalgae in innovating future foods for Unilever’s plant-based portfolio. Ingenuity, which specializes in developing microalgae for consumer products, will work with the R&D team within Unilever’s Foods and Refreshment (F&R) division to explore ways of bringing foods made with microalgae to the market.
Why Purchase the Report?
- To visualize the global nannochloropsis market segmentation based on form, cultivation method, application, and region, as well as understand key commercial assets and players.
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- Excel data sheet with numerous data points of nannochloropsis market-level with all segments.
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The global nannochloropsis market report would provide approximately 61 tables, 60 figures and 122 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies