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Nannochloropsis-derived Lipids (Fatty Acids) Market
Nannochloropsis-derived Lipids Market by Application (Human Nutrition (Health Supplements & Nutraceuticals, Pharmaceuticals, Other Human Nutritional Applications), Animal Nutrition, and Other Applications) - Global Forecast to 2028
Report ID:MRFB - 104544 Pages: 89 Jan-2022 Formats*: PDF Category: Food and Beverages Delivery: 2 to 4 HoursThis report is executed in collaboration with the European Algae Biomass Association (EABA). Combining Meticulous Research®’ market intelligence services with EABA’s broad expertise in the development of research, technology and industrial capacities in the field of algae, the two organizations have leveraged their research capabilities to come up with the most reliable and accurate market assessments in this field.
The Nannochloropsis-derived Lipids (Fatty Acids) Market is expected to reach $4.2 million by 2028, at a CAGR of 8.5% during the forecast period 2021 to 2028. Growing awareness about the health benefits of omega-3 Polyunsaturated fatty acids (PUFAs), rising demand for functional food products, and growing prevalence of diabetes and obesity are the key factors driving the growth of the Nannochloropsis-derived lipids (fatty acids) market.
Moreover, the growing demand for algae oil-based biofuel and increasing demand for omega-3 from the pharmaceutical industry creates lucrative growth opportunities for Nannochloropsis-derived lipid (fatty acids) manufacturers. However, the complex production process of Nannochloropsis-derived lipids (fatty acids) hinders market growth to some extent.
The Impact of COVID-19 on the Nannochloropsis-derived Lipids (Fatty Acids) Market
The COVID-19 pandemic adversely hit many economies around the world. Government measures to combat the COVID-19 pandemic, such as nationwide lockdowns and quarantines, negatively impacted many industries. Most manufacturers of food products in the F&B sector have felt the brunt of the pandemic. Social distancing, self-isolation, and city-wide lockdowns forced the closures of many establishments in countries worldwide.
In the algae industry, a major slowdown in overall microalgae production and sales was witnessed in the first quarter of 2020 due to disruptions in logistics and transportation. The market also witnessed interruptions in the entire value chain from raw materials supply for culture media to production, packaging, and biomass distribution.
In China, factory closures, microalgae processing facilities operating at reduced capacities, and restrictions on importing and exporting algae biomass strongly impacted the Nannochloropsis-derived lipids (fatty acids) market. Moreover, the pandemic adversely impacted this market in many countries globally, including the U.S., India, Australia, Brazil, and the EU-5 countries. Due to the countrywide lockdown in India, many commercial microalgae production and processing facilities were shut down or operated at reduced capacities, leading to substantial losses in overall domestic microalgal production.
Therefore, a complete halt on the transportation and logistics industry and reduced overall production of microalgae in many countries due to lockdowns in many countries worldwide adversely affected the global Nannochloropsis-derived lipids (fatty acids) market in terms of volume sales in 2020 and 2021.
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Rising Demand for Functional Food Products Fuels the Growth of the Nannochloropsis-Derived Lipids (Fatty Acids) Market
In recent years, the rise of functional foods and dietary supplements has played a key role in healthy habits due to growing consumer concerns about health and the perception that diet directly affects health. The global demand for functional food is mainly driven by increasing consumer awareness regarding micronutrient deficiencies, growing health concerns, increasing disease occurrences, and increasing disposable income. Also, the rise in chronic diseases across the globe is contributing to the increasing consumer interest in nutritional food.
According to the NIH-funded study, a healthy eating diet is directly proportional to overall health improvement and reduces heart disease, stroke, and type 2 diabetes. A healthy eating trend is gaining traction and evoking interest, significantly driving healthful food formulation. The demand for functional food incorporated with omega-3 fatty acids is increasing over the years due to their added health benefits, such as reducing the risk of cardiovascular diseases, type II diabetes, ocular diseases, arthritis, etc.
Further, in response to the COVID-19 pandemic, consumers are increasingly demanding products that offer immunity-boosting benefits as a preventive measure. The functional food industry sees a rapid surge in demand for products containing immune-boosting natural ingredients. For instance, according to the International Food Information Council (IFIC) 2020 Food and Health Survey, in 2020, 43% of people followed a specific diet, with an increase of 38% from 2019, followed by a 7% low-carb diet. The motivation for teaching new diets is losing weight (47%), enhancing physical health (39%), preventing future health concerns (37%), and preventing weight gain (36%).
In 2004, the Food and Drug Administration (FDA) approved a health claim for reduced risk of CHD (coronary heart disease) for foods containing omega-3 PUFAs, mainly EPA and DHA. Thus, rising demand for functional food products is expected to boost the growth of the Nannochloropsis-derived lipids (fatty acids) market.
Key Findings in the Global Nannochloropsis-Derived Lipids (Fatty Acids) Market Study:
In 2021, the Human Nutrition Segment to Dominate the Nannochloropsis-Derived Lipids (Fatty Acids) Market
Based on application, the Nannochloropsis derived lipids (fatty acids) market is mainly segmented into human nutrition, animal nutrition, and other applications. In 2021, the human nutrition segment is estimated to account for the largest share of the global Nannochloropsis derived lipids (fatty acids) market. This growth can be attributed to the increasing demand for algae oil from nutraceuticals, dietary supplements, infant formula, and F&B industries. Rising consumption of packaged baby nutrition products owing to an increasing working population is further expected to drive the growth of the Nannochloropsis derived lipids (fatty acids) market for human nutrition, as algae omega-3 DHA possesses an important role in the development of an infant's nervous system, vision, brain, and overall growth. Moreover, the rising demand for immunity-boosting products is expected to create lucrative opportunities for the stakeholders in the Nannochloropsis- derived lipids (fatty acids) market for human nutrition.
In 2021, the Health Supplements & Nutraceuticals Segment to Dominate the Nannochloropsis-Derived Lipids (Fatty Acids) Market for Human Nutrition
Based on type (human nutrition-related applications), the Nannochloropsis derived lipids (fatty acids) market is mainly segmented into health supplements and nutraceuticals, pharmaceuticals, and other human nutrition applications. In 2021, the health supplements & nutraceuticals segment is estimated to account for the largest share of the global Nannochloropsis derived lipids (fatty acids) market for human nutrition, owing to the growing health supplements and nutraceutical industry and rising use of algae oil instead of fish oil in the health supplements and nutraceutical industry.
In 2021, Europe is Expected to Dominate the Overall Nannochloropsis-Derived Lipids (Fatty Acids) Market
Based on geography, the global Nannochloropsis derived lipids (fatty acids) market is divided into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Europe is estimated to account for the largest share of the global Nannochloropsis derived lipids (fatty acids) market in 2021, followed by North America and Asia-Pacific, owing to the huge consumption of health and wellness products and growing prevalence of heart diseases. Also, the easy availability of raw materials due to the presence of key Nannochloropsis biomass suppliers for lipid extraction further drives the growth of this market in the region. Moreover, the growing nutraceuticals and dietary supplements industry and rising popularity of omega 3 fortified/functional food and beverages among the aging population are expected to create lucrative opportunities for the stakeholders in the Nannochloropsis derived lipids (fatty acids) market in the region.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 4-5 years. The key players profiled in the global Nannochloropsis derived lipids (fatty acids) market research report are Arizona Algae Products, LLC (U.S.), Lyxia Corporation (China), Shaivaa Algaetech LLP (India), and iwi Life (U.S.), among others.
Scope of the Report:
Nannochloropsis-derived Lipids (Fatty Acids) Market, by Application
- Human Nutrition
- Health Supplements & Nutraceuticals
- Pharmaceuticals
- Other Human Nutritional Applications
- Animal Nutrition
- Other Applications
Nannochloropsis-derived Lipids (Fatty Acids) Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Spain
- Portugal
- Germany
- Italy
- France
- Scandinavia
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- India
- Japan
- Australia
- Rest of APAC (RoAPAC)
- Latin America
- Brazil
- Mexico
- Rest of Latin America (RoLATAM)
- Middle East
- Africa
Key Questions Answered in the Report-
Nannochloropsis is a genus of microalgae from the phylum Ochrophyta, class Eustigmatophyceae. These unicellular algae are spherical or oblong and measure 2–5 microns in diameter. Nannochloropsis sp. has a high content of Eicosapentaenoic Acid (EPA), an omega-3 fatty acid, a vegan alternative for fish oil. Moreover, Nannochloropsis is an industrially promising microalga that may be cultivated as an alternative source of nutrition due to its high productivity, protein content, and lipid composition. Nannochloropsis-derived lipids are in great demand in the human nutrition industry, especially for health supplements, nutraceuticals, and food & beverage applications.
The Nannochloropsis-derived lipids (fatty acids) market is projected to reach $4.2 million by 2028, at a CAGR of 8.5% during the forecast period.
The human nutrition segment is expected to witness the fastest growth during the forecast period.
o Growing awareness about the health benefits of omega-3 PUFA o Rising demand for functional food products o Growing prevalence of diabetes and obesity
o Complex Production Process for Nannochloropsis
The key players operating in the global Nannochloropsis-Derived Lipids (Fatty Acids) market are Arizona Algae Products, LLC (U.S.), Lyxia Corporation (China), Shaivaa Algaetech LLP (India), and iwi Life (U.S.), among others.
Europe is expected to witness significant growth during the forecast period, mainly due to the growing demand for Nannochloropsis lipids (fatty acids) from the biodiesel industry.
1. Introduction
1.1. Market Definition
1.2. Market Ecosystem
1.3. Currency
2. Research Methodology
2.1. Research Process
2.2. Data Collection & Validation
2.2.1. Secondary Research
2.2.2. Primary Research
2.3. Market Assessment
2.3.1. Market Size Estimation
2.3.1.1. Bottom-Up Approach
2.3.1.2. Top-Down Approach
2.3.1.3. Growth Forecast
2.4. Assumptions for the Study
2.5. Limitations for the Study
3. Market Insights
3.1. Introduction
3.2. Drivers
3.2.1. Growing Awareness about the Health Benefits of Omega-3 Pufa
3.2.2. Rising Demand for Functional Food Products
3.2.3. Growing Prevalence of Diabetes and Obesity
3.3. Restraints
3.3.1. Complex Production Process of Nannochloropsis
3.4. Challenges
3.4.1. Risk of Nannochloropsis Contamination
3.5. Opportunities
3.5.1. Growing Demand for Algae Oil-based Biofuel
3.5.2. Increasing Demand for Omega-3 From the Pharmaceuticals Industry
4. Overall Nannochloropsis Derived Lipids (Fatty Acids) Industry Overview
4.1. Introduction
4.2. Market, by Application
4.2.1. Human Nutrition
4.2.1.1. Health Supplements and Nutraceuticals
4.2.1.2. Pharmaceuticals
4.2.1.3. Other Human Nutrition Applications
4.2.2. Animal Nutrition
4.2.3. Other Applications
4.3. Pricing Analysis, by Application, 2021(USD/Kg)
5. Nannochloropsis Derived Lipids (Fatty Acids) Market, by Geography
5.1. Introduction
5.2. North America
5.2.1. U.S.
5.2.2. Canada
5.3. Europe
5.3.1. Spain
5.3.2. Portugal
5.3.3. Germany
5.3.4. Italy
5.3.5. France
5.3.6. Scandinavia
5.3.7. Rest of Europe (RoE)
5.4. Asia-Pacific
5.4.1. China
5.4.2. India
5.4.3. Japan
5.4.4. Australia
5.4.5. Rest of Asia-Pacific (RoAPAC)
5.5. Latin America
5.5.1. Brazil
5.5.2. Mexico
5.5.3. Rest of Latin America (RoLATAM)
5.6. Rest of the World (ROW)
5.6.1. Middle East
5.6.2. Africa
6. Company Profiles
6.1. Arizona Algae Products, LLC
6.2. Lyxia Corporation
6.3. Shaivaa Algaetech LLP
6.4. iwi Life
7. List of Potential Customers for Algae-Derived Lipids (Fatty Acids)
8. Appendix
8.1. Questionnaire
8.2. Available Customization
List of Tables
Table 1 Global Nannochloropsis Derived Lipids (Fatty Acids) Market: Impact Analysis of Market Drivers (2021–2028)
Table 2 Global Nannochloropsis Derived Lipids (Fatty Acids) Market: Impact Analysis of Market Restraints (2021–2028)
Table 3 Global Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Application, 2019–2028 (USD Thousand)
Table 4 Global Nannochloropsis Derived Lipids (Fatty Acids) Market Size for Human Nutrition, by Application, 2019–2028 (USD Thousand)
Table 5 Nannochloropsis Derived Lipids (Fatty Acids) Market Size for Human Nutrition, by Region, 2019–2028 (USD Thousand)
Table 6 Nannochloropsis Derived Lipids (Fatty Acids) Market Size for Human Nutrition, by Region, 2019–2028 (Tons)
Table 7 Nannochloropsis Derived Lipids (Fatty Acids) Market Size for Health Supplements and Nutraceuticals, by Country/Region, 2019–2028 (USD Thousand)
Table 8 Nannochloropsis Derived Lipids (Fatty Acids) Market Size for Pharmaceuticals, by Country/Region, 2019–2028 (USD Thousand)
Table 9 Nannochloropsis Derived Lipids (Fatty Acids) Market Size for Other Human Nutrition Applications, by Country/Region, 2019–2028 (USD Thousand)
Table 10 Nannochloropsis Derived Lipids (Fatty Acids) Market Size for Animal Nutrition, by Region, 2019–2028 (USD Thousand)
Table 11 Nannochloropsis Derived Lipids (Fatty Acids) Market Size for Animal Nutrition, by Region, 2019–2028 (Tons)
Table 12 Nannochloropsis Derived Lipids (Fatty Acids) Market Size for Other Application, by Region, 2019–2028 (USD Thousand)
Table 13 Nannochloropsis Derived Lipids (Fatty Acids) Market Size for Other Application, by Region, 2019–2028 (Tons)
Table 14 Nannochloropsis Derived Lipid (Fatty Acids) Prices for Human Nutrition, by Region, 2018–2028 (USD/Kg)
Table 15 Nannochloropsis Derived Lipid (Fatty Acids) Prices for Animal Nutrition, by Region, 2018-2028 (USD/Kg)
Table 16 Nannochloropsis Derived Lipid (Fatty Acids) Prices for Other Application, by Region, 2018-2028 (USD/Kg)
Table 17 Nannochloropsis Market Size, by Region, 2019–2028 (USD Thousand)
Table 18 North America: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Country, 2019-2028 (USD Thousand)
Table 19 North America: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Application, 2019–2028 (USD Thousand)
Table 20 North America: Nannochloropsis Derived Lipids (Fatty Acids) Market for Human Nutrition, by Type, 2019-2028 (USD Thousand)
Table 21 U.S.: Retail Sales of Omega- Based Products, 2014-2018 (USD Million)
Table 22 U.S.: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Application, 2019–2028 (USD Thousand)
Table 23 U.S.: Nannochloropsis Derived Lipids (Fatty Acids) Market for Human Nutrition, by Type, 2019-2028 (USD Thousand)
Table 24 Canada: Retails Sales of Omega-Based Products, 2014-2018 (USD Million)
Table 25 Canada: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Application, 2019–2028 (USD Thousand)
Table 26 Canada: Nannochloropsis Derived Lipids (Fatty Acids) Market for Human Nutrition, by Application, 2019-2028 (USD Thousand)
Table 27 Europe: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Country/Region, 2019-2028 (USD Thousand)
Table 28 Europe: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Application, 2019–2028 (USD Thousand)
Table 29 Europe: Nannochloropsis Derived Lipids (Fatty Acids) Market for Human Nutrition, by Type, 2019-2028 (USD Thousand)
Table 30 Spain: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Application, 2019–2028 (USD Thousand)
Table 31 Spain: Nannochloropsis Derived Lipids (Fatty Acids) Market for Human Nutrition, by Type, 2019-2028 (USD Thousand)
Table 32 Portugal: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Application, 2019–2028 (USD Thousand)
Table 33 Portugal: Nannochloropsis Derived Lipids (Fatty Acids) Market for Human Nutrition, by Type, 2019-2028 (USD Thousand)
Table 34 Germany: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Application, 2019–2028 (USD Thousand)
Table 35 Germany: Nannochloropsis Derived Lipids (Fatty Acids) Market for Human Nutrition, by Type, 2019-2028 (USD Thousand)
Table 36 Italy: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Application, 2019–2028 (USD Thousand)
Table 37 Italy: Nannochloropsis Derived Lipids (Fatty Acids) Market for Human Nutrition, by Type, 2019-2028 (USD Thousand)
Table 38 France: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Application, 2019–2028 (USD Thousand)
Table 39 France: Nannochloropsis Derived Lipids (Fatty Acids) Market for Human Nutrition, by Type, 2019-2028 (USD Thousand)
Table 40 Scandinavia: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Application, 2019–2028 (USD Thousand)
Table 41 Scandinavia: Nannochloropsis Derived Lipids (Fatty Acids) Market for Human Nutrition, by Type, 2019-2028 (USD Thousand)
Table 42 Rest of Europe: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Application, 2019–2028 (USD Thousand)
Table 43 Rest of Europe: Nannochloropsis Derived Lipids (Fatty Acids) Market for Human Nutrition, by Type, 2019-2028 (USD Thousand)
Table 44 Asia-Pacific: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Country/Region, 2019–2028 (USD Thousand)
Table 45 Asia-Pacific: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Application, 2019–2028 (USD Thousand)
Table 46 Asia-Pacific: Nannochloropsis Derived Lipids (Fatty Acids) Market for Human Nutrition, by Type, 2019–2028 (USD Thousand)
Table 47 China: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Application, 2019–2028 (USD Thousand)
Table 48 China: Nannochloropsis Derived Lipids (Fatty Acids) Market for Human Nutrition, by Type, 2019–2028 (USD Thousand)
Table 49 India: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Application, 2019–2028 (USD Thousand)
Table 50 India: Nannochloropsis Derived Lipids (Fatty Acids) Market for Human Nutrition, by Type, 2019–2028 (USD Thousand)
Table 51 Japan: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Application, 2019–2028 (USD Thousand)
Table 52 Japan: Nannochloropsis Derived Lipids (Fatty Acids) Market for Human Nutrition, by Type, 2019–2028 (USD Thousand)
Table 53 Australia: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Application, 2019–2028 (USD Thousand)
Table 54 Australia: Nannochloropsis Derived Lipids (Fatty Acids) Market for Human Nutrition, by Type, 2019–2028 (USD Thousand)
Table 55 RoAPAC: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Application, 2019–2028 (USD Thousand)
Table 56 RoAPAC: Nannochloropsis Derived Lipids (Fatty Acids) Market for Human Nutrition, by Type, 2019–2028 (USD Thousand)
Table 57 Latin America: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Country, 2019-2028 (USD Thousand)
Table 58 Latin America: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Application, 2019–2028 (USD Thousand)
Table 59 Latin America: Nannochloropsis Derived Lipids (Fatty Acids) Market for Human Nutrition, by Type, 2019-2028 (USD Thousand)
Table 60 Brazil: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Application, 2019–2028 (USD Thousand)
Table 61 Brazil: Nannochloropsis Derived Lipids (Fatty Acids) Market for Human Nutrition, by Type, 2019-2028 (USD Thousand)
Table 62 Mexico: Retails Sales of Omega-Based Products, 2014-2018 (USD Million)
Table 63 Mexico: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Application, 2019–2028 (USD Thousand)
Table 64 Mexico: Nannochloropsis Derived Lipids (Fatty Acids) Market for Human Nutrition, by Type, 2019-2028 (USD Thousand)
Table 65 RoLATAM: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Application, 2019–2028 (USD Thousand)
Table 66 RoLATAM: Nannochloropsis Derived Lipids (Fatty Acids) Market for Human Nutrition, by Type, 2019-2028 (USD Thousand)
Table 67 Rest of the World: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Region, 2019-2028 (USD Thousand)
Table 68 Rest of the World: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Application, 2019–2028 (USD Thousand)
Table 69 Rest of the World: Nannochloropsis Derived Lipids (Fatty Acids) Market for Human Nutrition, by Type, 2019-2028 (USD Thousand)
Table 70 Middle East: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Application, 2019–2028 (USD Thousand)
Table 71 Middle East: Nannochloropsis Derived Lipids (Fatty Acids) Market for Human Nutrition, by Type, 2019-2028 (USD Thousand)
Table 72 Africa: Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Application, 2019–2028 (USD Thousand)
Table 73 Africa: Nannochloropsis Derived Lipids (Fatty Acids) Market for Human Nutrition, by Type, 2019-2028 (USD Thousand)
Table 74 Some of the Potential Customers for Algae-derived Lipids (Fatty Acids)
List of Figures
Figure 1 Key Stakeholders
Figure 2 Research Process
Figure 3 Key Secondary Sources
Figure 4 Primary Research Techniques
Figure 5 Key Executives Interviewed
Figure 6 Breakdown of Primary Interviews (Supply-Side & Demand-Side)
Figure 7 Market Size Estimation
Figure 8 Market Dynamics
Figure 9 Global Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Application, 2021 Vs. 2028 (USD Thousand)
Figure 10 Global Nannochloropsis Derived Lipids (Fatty Acids) Market Size for Human Nutrition, by Application, 2021 Vs. 2028 (USD Thousand)
Figure 11 Nannochloropsis Derived Lipids (Fatty Acids) Market Size, by Region, 2021 Vs. 2028 (USD Thousand)
Figure 12 Australia: Death Statistics, 2019 (%)
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