Nannochloropsis Market in Europe Set to Reach $4.79 Million by 2030
Meticulous Research®, a leading global market research organization, has unveiled a new report titled ‘Europe Nannochloropsis Market by Form (Frozen, Liquid, Powder, Fresh Pastes), Application (Aquafeed, Extraction Companies, Other Applications) - Forecast to 2030’.
According to the report, the European Nannochloropsis market is projected to reach USD 4.79 million by 2030, with a compound annual growth rate (CAGR) of 9.0% from 2023 to 2030. The market is also expected to grow to 39.93 tons by 2030, expanding at a CAGR of 9.6% over the forecast period.
The market growth is primarily driven by increasing demand for algae-based protein sources, the growing requirement for high-protein and lipid-rich aquafeeds, and a rising need for omega-3 fatty acids. Additionally, the expanding biodiesel sector presents new growth prospects for Nannochloropsis manufacturers. However, the complex production process remains a significant challenge.
Market Segmentation
The European Nannochloropsis market is segmented based on form, application, and geography.
- By Form: The market is segmented into frozen, liquid, powder, and fresh pastes. The frozen form is expected to dominate in 2023 due to its application in aquaculture hatcheries where it is used to initiate artificial food chains. Frozen Nannochloropsis is rich in essential fatty acids like EPA and ARA, and is anticipated to grow at the highest CAGR due to its advantages in managing lipid-enriched rotifer production.
- By Application: The market is categorized into aquafeed, extraction companies, and other applications. The aquafeed segment is projected to hold the largest share in 2023. Nannochloropsis sp. is extensively used in aquaculture for its nutritional value and the production of beneficial compounds such as pigments and polyunsaturated fatty acids. The segment is expected to grow the fastest due to increasing demand for high-quality aquafeed in Europe.
- By Geography: The market is divided into Spain, Portugal, Germany, Italy, France, the U.K., Denmark, Sweden, and the Rest of Europe. Spain is forecasted to account for the largest share in 2023, driven by a strong aquaculture sector, supportive government policies, and a growing focus on healthier diets. Additionally, the biodiesel industry and increasing vegetarianism are expected to offer new opportunities for growth 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).
Download Sample Report: https://www.meticulousresearch.com/download-sample-report/cp_id=5489
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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