Dublin, June 12, 2023 (GLOBE NEWSWIRE) -- The "Europe Nannochloropsis Market by Form, Application - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The Europe Nannochloropsis Market is projected to reach $4.79 million by 2030, at a CAGR of 9.0% from 2023 to 2030
In terms of volume, the Europe Nannochloropsis market is projected to reach 39.93 tons by 2030, at a CAGR of 9.6% during the forecast period 2023-2030.
The research report provides an in-depth analysis of the Europe Nannochloropsis market across eight major countries and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2030.
The growth of this market is driven by the increasing demand for algae protein, the rising need for protein-rich and lipid-rich aquafeed, and the growing demand for omega-3 fatty acids. In addition, the growing demand from the biodiesel industry creates lucrative growth opportunities for Nannochloropsis manufacturers in Europe. However, the complex production process of Nannochloropsis restrains the growth of this market to a certain extent.
In 2023, the frozen segment is expected to account for the largest share of the Europe Nannochloropsis market.
The large market share of this segment is attributed to its wide range of applications in aquaculture hatcheries to establish the initial step of an artificial food chain, as frozen Nannochloropsis is rich in fatty acids (EPA, ARA). Moreover, this segment is expected to record the highest CAGR during the forecast period as frozen Nannochloropsis biomass promotes easy management in biomass production of lipid-enriched rotifers.
In 2023, the aquafeed segment is expected to account for the largest share of the Europe Nannochloropsis market.
Nannochloropsis sp. is one of the most extensively used microalgae in aquaculture due to their nutritional value and the ability to produce valuable chemical compounds, such as pigments (zeaxanthin, astaxanthin, and canthaxanthin) and polyunsaturated fatty acids (EPA).
This segment is also expected to record the highest CAGR during the forecast period due to the growing aquaculture industry in Europe, the rising aquafeed sector, and the increasing demand for protein-rich aquafeeds.
In 2023, Spain is expected to account for the largest share of the Europe Nannochloropsis market.
The large market share of Spain is attributed to the growing aquaculture industry and the necessity for aquafeed, government support to the fishery sector, and consumer inclination toward a healthier lifestyle. Moreover, demand from the biodiesel industry and the growing vegetarian population are expected to create lucrative growth opportunities for Nannochloropsis manufacturers in this country.
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?
- How 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?
Market Insights
Drivers
- Increasing Demand for Algae Protein
- Rising Need for Protein-Rich and Lipid-Rich Aquafeed
- Growing Demand for Omega-3 Fatty Acids
Restraints
- Complex Production Process of Nannochloropsis
Opportunity
- Growing Demand From the Biodiesel Industry
Challenges
- Risk of Nannochloropsis Contamination
Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
- 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)
- Monzon Biotech S.L. (Spain)
- A4f Algae for Future (Portugal)
- AlgaSpring B.V. (Netherlands)
- Archimede Ricerche Srl (Italy).
Scope of the report:
Europe Nannochloropsis Market, by Form
- Frozen
- Liquid
- Powder
- Fresh Pastes
Europe Nannochloropsis Market, by Application
- Aquafeed
- Extraction Companies
- Other Applications
Europe Nannochloropsis Market, by Geography
- Spain
- Portugal
- Germany
- Italy
- France
- U.K.
- Denmark
- Sweden
- Rest of Europe
For more information about this report visit https://www.researchandmarkets.com/r/tvmag9
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