Meticulous Research® –a leading global market research company published a research report titled “Nannochloropsis-Derived Lipids (Fatty Acids) Market by Application (Human Nutrition (Health Supplements & Nutraceuticals, Pharmaceuticals, Other Human Nutritional Applications), Animal Nutrition, and Other Applications) - Global Forecast to 2028.”
In the latest Meticulous Research® report, the Nannochloropsis-Derived Lipids (Fatty Acids) Market is projected to grow at a CAGR of 8.5% from 2021 to 2028, reaching $4.20 million by 2028. The market's expansion is fueled by increasing awareness of the health benefits of omega-3 Polyunsaturated Fatty Acids (PUFAs), rising demand for functional food products, and the prevalence of diabetes and obesity. Moreover, the demand for algae oil-based biofuel and omega-3 from the pharmaceutical industry present promising opportunities for manufacturers of Nannochloropsis-derived lipid (fatty acids). However, the complex production process poses a challenge to market growth.
The global Nannochloropsis-Derived Lipids (Fatty Acids) Market is segmented by application, with human nutrition expected to dominate in 2021. This dominance is driven by the increasing demand for algae oil in nutraceuticals, dietary supplements, infant formula, and functional foods. Within human nutrition, the health supplements & nutraceuticals segment is anticipated to hold the largest share, fueled by the growing health supplements and nutraceutical industry."
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Geographically, Europe is projected to lead the market in 2021, followed by North America and Asia-Pacific. The growth in Europe is attributed to increasing consumption of health and wellness products and the presence of key Nannochloropsis biomass suppliers. The report also profiles key players in the market, including Arizona Algae Products, LLC, Lyxia Corporation, Shaivaa Algaetech LLP, and iwi Life.
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