Europe Nannochloropsis Market Anticipated to Reach $4.79 Million by 2030
Meticulous Research®, a renowned global market research firm, has unveiled a report titled ‘Europe Nannochloropsis Market by Form (Frozen, Liquid, Powder, Fresh Pastes), Application (Aquafeed, Extraction Companies, Other Applications) - Forecast to 2030’.
The report estimates that the European Nannochloropsis market will reach USD 4.79 million by 2030, growing at a CAGR of 9.0% from 2023 to 2030. In terms of volume, the market is expected to attain 39.93 tons by 2030, with a CAGR of 9.6% during the forecast period.
Factors driving the growth include rising demand for algae-based proteins, a growing need for protein- and lipid-rich aquafeeds, and increased interest in omega-3 fatty acids. The biodiesel industry’s growth also presents new opportunities for Nannochloropsis producers in Europe. Nonetheless, the complex production process of Nannochloropsis may pose challenges.
Market Segmentation
The market is segmented by form, application, and geography:
By Form: The market includes frozen, liquid, powder, and fresh pastes. In 2023, the frozen segment is expected to lead due to its extensive use in aquaculture hatcheries and its high fatty acid content, such as EPA and ARA. This segment is projected to grow at the highest CAGR, benefiting from its role in managing lipid-enriched rotifer production.
By Application: The market is divided into aquafeed, extraction companies, and other applications. The aquafeed segment is expected to hold the largest share in 2023. Nannochloropsis sp. is highly valued in aquaculture for its nutritional benefits and its production of valuable compounds like pigments and polyunsaturated fatty acids. This segment is expected to grow rapidly due to the expanding aquaculture industry and increasing demand for protein-rich aquafeeds.
By Geography: The market is categorized into Spain, Portugal, Germany, Italy, France, the U.K., Denmark, Sweden, and the Rest of Europe. Spain is forecasted to account for the largest market share in 2023, driven by a thriving aquaculture sector, supportive government policies, and a shift towards healthier lifestyles. Additionally, the growing demand from the biodiesel sector and increasing vegetarianism are expected to offer new opportunities for Nannochloropsis manufacturers in Spain.
Key Players:
The key players operating in the Europe Nannochloropsis market are BlueBioTech Group (Germany), Reed Mariculture Inc. (U.S.), Necton S.A. (Portugal), Astaxa GmbH (Germany), Proviron Industries NV (Belgium), Allmicroalgae Natural Products S.A. (Portugal), Algatechnologies Ltd. (A Part of Solabia Group) (Israel), Monzón Biotech S.L. (Spain), A4f Algae for Future (Portugal), AlgaSpring B.V. (Netherlands), and Archimede Ricerche Srl (Italy).
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Key questions answered in the report-
Which are the high-growth market segments in terms of type, form, application, and country/region?
What was the historical market for Nannochloropsis across Europe?
What are the market forecasts and estimates for the period of 2023–2030?
What are the major drivers, restraints, challenges, opportunities, and trends in the Europe Nannochloropsis market?
Who are the major players in the Europe market, and what are their market shares?
Who are the major players in various countries, and what are their market shares?
What is the competitive landscape for the Europe Nannochloropsis market?
What are the recent developments in the Europe Nannochloropsis market?
What are the different strategies adopted by the major players in the market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the Europe Nannochloropsis market, and how do they compete with other players?
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