Global Nanochloropsis Market Size, Trends & Growth Opportunity, By Form Type (Frozen, Liquid, Powder, Fresh Pastes) By Application (Aquafeed, Extraction, others) Region and Forecast till 2027

Nanochloropsis Market

Nannochloropsis is a genus of algae comprising six known species. The genus in the current taxonomic classifications was first termed by Hibberd (1981). The species have mostly been known from the marine environment but also occur in fresh and brackish water All of the species are small, nonmotile spheres which do not express any distinct morphological features that can be distinguished by either light or electron microscopy. The characterisation is mostly done by rbcL gene and 18S rRNA sequence analysis.

 Drivers: Increasing Demand for Algae Protein

 Its high protein content and bioactive compounds offer health benefits. The proteins have complete Essential Amino Acids (EAA) profiles that play an important role in repairing and building tissues in human body. Increasing demand for nutraceuticals and dietary food products should stimulate micro algae protein demand which will lead to rise in Global Nanochloropsis  market.

Restraints: Complex Production Process for Nannochloropsis

There is a complex production process for Nannochloropsis with huge production costs involved. Hence this will be a major problem for the growth in the forecast period for the market.

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Impact of COVID-19

The effects of the COVID-19 pandemic on this market were felt in China starting 2020, as the country is one of the world's largest producers and one of the leading consumers of almost all microalgal species, including Nannochloropsis. In China, factory closures, microalgae processing facilities operating at reduced capacities, and import and export restrictions of algae biomass severely impacted the Nannochloropsis market.

Segmentation By Form Type

The Form Type segment is bifurcated into Frozen, Liquid, Powder and Fresh Pastes. The frozen Nannochloropsis segment is estimated to account for the largest share of the overall Nannochloropsis market in 2021. The large market share of this segment is mainly 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.

Segmentation by Application :

The Application segment is bifurcated into Aquafeed, Extraction and others. Based on application, the aquafeed segment is estimated to account for the largest share of the overall Nannochloropsis market in 2021. Nannochloropsis sp. is one of the most extensively used microalgae in aquaculture due to its nutritional value and ability to produce valuable chemical compounds, The growth of this segment is mainly attributed to the growing global aquaculture industry along with the growing aquafeed sector and the increasing demand for protein-rich aquafeeds.

Segmentation by Region

By Region the market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. Europe is estimated to account for the largest share of the global Nannochloropsis market in 2021, followed by North America and Asia-Pacific. The large market share of this region is primarily 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 further expected to create lucrative opportunities for Nannochloropsis manufacturers in the region.

Competitive Landscape:

The major players in the market 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).

Industrial Development:

For instance, in November 2019, nestle entered into a partnership with Corbion to develop a next-generation range of microalgae-based products and deliver sustainable plant-based products. The move is expected to streamline the commercialization as well as production of microalgae-based products for Nestle.

Market taxonomy

By Form type

• Frozen
• Liquid
• Powder
• Fresh Pastes

 By Application

• Aquafeed
• Extraction
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa