Nannochloropsis-derived Lipids Market Size, Share, Growth Analysis, By Application(human nutrition, animal nutrition), By Type(health supplements and nutraceuticals, pharmaceuticals) - Industry Forecast 2024-2031

Nannochloropsis-Derived Lipids Market size was valued at USD 2.37 million in 2019 and it is expected to reach USD 4.2 million in 2019, at a CAGR of 8.5% during the forecast period (2024-2031).

The market for fatty acids generated from Nannochloropsis is expanding as people become more aware of the health advantages of omega-3 polyunsaturated fatty acids (PUFAs), demand for functional food items rises, and the prevalence of diabetes and obesity rises.

Additionally, the pharmaceutical industry's expanding need for omega-3 and the demand for algal oil-based biofuel both present profitable development prospects for companies that produce lipids (fatty acids) generated from Nannochloropsis.

Due to increased consumer worries about their health and the idea that eating has a direct impact on health, functional foods and dietary supplements have become more popular in recent years, which has had a significant impact on healthy behaviours. The increased consumer awareness of micronutrient deficiencies, expanding health concerns, rising illness rates, and rising disposable income are the key factors driving the global market for functional food. Additionally, the growth in chronic illnesses worldwide is a factor in the growing consumer demand in nutrient-dense foods.

The NIH-funded study found that a balanced diet directly correlates to an increase in general health and lowers the risk of heart disease, stroke, and type 2 diabetes. A growing interest in and trend toward healthy eating is propelling the development of nutritious foods. Due to the additional health advantages of omega-3 fatty acids, such as lowering the risk of cardiovascular disease, type II diabetes, ophthalmic illnesses, arthritis, etc., the demand for functional foods containing these fatty acids has grown over time.

US Nannochloropsis Derived Lipids Market is poised to grow at a sustainable CAGR for the next forecast year.