鱼类疫苗市场－全球产业规模、份额、趋势、机会和预测：按疫苗类型、给药途径、地区和竞争情况划分，2021-2031年

全球鱼类疫苗市场预计将从 2025 年的 4.3338 亿美元成长到 2031 年的 5.8711 亿美元，复合年增长率为 5.19%。

这些生物製药对于刺激养殖鱼类的免疫系统、赋予其对特定病原体的主动适应性免疫至关重要。此领域的发展主要受全球水产养殖业集约化发展的推动。养殖密度的增加提高了疾病传播的风险，因此需要严格的预防性健康管理通讯协定。此外，该行业正优先考虑疫苗接种策略，以减少对抗生素的依赖，实施抗菌素抗药性措施，并遵守严格的食品安全法规。全球海鲜联盟的数据也反映了这种在这些法规下对永续性的承诺，该联盟报告称，到2024年，获得认证的负责任水产养殖设施数量将增加5%，达到全球整体4168家。

然而，市场成长面临许多重大障碍，例如复杂的物流以及在各种水生环境中为大规模人群接种疫苗的高昂成本。为低价值物种建立经济可行且高效的供应体系仍然是生产者面临的持续挑战。这些财务和营运障碍在发展中地区尤其严峻，因为小规模农户往往缺乏实施先进疾病控制策略所需的资源。因此，儘管水生病原体的传播持续加剧，但这种差距可能会限制市场渗透，并使确保这些基本卫生措施广泛应用的努力变得更加复杂。

市场驱动因素

全球水产养殖业的快速扩张对疾病预防措施的需求激增，并从根本上改变了鱼类疫苗市场。随着产量扩大以满足全球粮食安全需求，商业水产养殖中采用的高密度养殖方式显着增加了养殖鱼类对病原体爆发的易感性，因此实施系统性免疫通讯协定至关重要。此次产量激增标誌着历史性的转折点，养殖产量首次超过野生渔获量。根据联合国粮食及农业组织（粮农组织）2024年6月发布的《2024年全球渔业及水产养殖状况》报告，2022年全球养殖产量达到创纪录的1.309亿吨，首次超过野生渔获量。如此大规模的养殖活动增加了生物风险，凸显了强有力的预防性健康管理解决方案的经济必要性，挪威兽医研究所 2024 年 3 月的报告就证明了这一点，该报告记录了 2023 年 6270 万条养殖鲑鱼的死亡情况。

同时，新型疫苗研发和供应的技术进步正在推动市场发展，使人们能够精准应对以往难以解决的病毒和细菌威胁。该行业正从简单的灭活疫苗发展到利用先进的基因组分析和重组技术，为各种水生环境提供广泛保护和高效给药的解决方案。这一创新趋势的推动力来自政府为实现水生动物健康管理现代化和减少抗生素依赖而提供的资金。例如，2024年2月，美国农业部（USDA）宣布透过「水产养殖研究津贴计画」提供约193.6万美元的资金，用于支持针对关键产业挑战（包括疾病管理）的应用研究。这些资金和技术资源正在加速下一代疫苗的商业化，使生产者能够在遵守永续生产标准的同时最大限度地减少损失。

市场挑战

大规模鱼群疫苗接种涉及复杂的物流和高昂的营运成本，这给全球鱼类疫苗市场带来了巨大的障碍。虽然注射仍然是确保疫苗高效性的标准方法，但对于占全球水产养殖业大多数的低价值鱼类和小规模养殖户而言，注射既费时费力又昂贵。这种经济差距迫使发展中地区的生产者采用永续性较差的管理方法，阻碍了市场向大规模生产领域的扩张。因此，研发适用于不同水生环境的给药机制所需的研发成本难以得到充分论证，形成了一个恶性循环，阻碍了那些亟需资金支持的预防性健康措施的实施。

这些营运限制直接反映在生物量的持续成长上，显示市场尚未克服有效且广泛供应的挑战。据挪威海鲜协会（Seafood Norway）称，2024年养殖鲑鱼的海洋死亡率达到15.4%。这项数据凸显了疫苗供应与实际应用之间持续存在的差距，表明物流和成本方面的障碍正在有效地限制市场潜力，阻碍了全面疾病控制，而全面疾病控制对于保护该行业免受长期存在的健康威胁至关重要。

市场趋势

扩大针对特定水产养殖场的自研疫苗生产，满足了快速应对标准核准产品无法覆盖的病原体的迫切需求。这些客製化疫苗采用直接从特定养殖场分离的病原体研製而成，能够精准标靶化特定区域的病原体，弥补了大众市场产品监管核准速度跟不上病毒变异速度的巨大缺口。这种客製化策略对于控制无法用通用配方控制的局部疫情尤其重要。 AquaTactics公司获得美国农业部（USDA）核准生产自研鱼类疫苗，正是该子部门发展的一个例证。正如FishSight在2025年3月发表的报导《USDA湿实验室核准助力AquaTactics进军自研疫苗市场》中所报道，这使得该公司能够为全美各地的水产养殖设施提供客製化的健康解决方案。

同时，针对温水和新兴物种的疫苗研发正将产业的重心从现有的鲑科鱼类转向虾类等高产量养殖领域。製造商正在开发新的预防技术，以应对无脊椎动物独特的免疫挑战，而先前针对这些无脊椎动物的有效疾病控制一直匮乏。这种多元化对于减轻温水环境中病毒爆发造成的严重损失至关重要，而传统上，温水环境的疫情控制主要依赖抗生素和人为控制。大兰动物保健公司正是这项创新发展轨迹的典型代表。根据《国家食品供应商》2025年11月发表的一篇报导《大兰动物保健公司将推出虾类疫苗以应对水产养殖业挑战》的文章报道，该公司已成功资金筹措300万美元，用于将全球首款虾类疫苗商业化，直接满足全球水产养殖业的关键需求。

目录

第一章概述

第二章：调查方法

第三章执行摘要

第四章：客户心声

第五章：全球鱼类疫苗市场展望

• 市场规模及预测
  • 按金额
• 市占率及预测
  • 疫苗类型（灭活疫苗、减毒疫苗、类毒素疫苗、次单位疫苗疫苗、结合疫苗、重组载体疫苗）
  • 给药途径（注射、浸泡、喷雾、口服）
  • 按地区
  • 按公司（2025 年）
• 市场地图

第六章：北美鱼类疫苗市场展望

• 市场规模及预测
• 市占率及预测
• 北美洲：国别分析
  • 我们
  • 加拿大
  • 墨西哥

第七章：欧洲鱼类疫苗市场展望

• 市场规模及预测
• 市占率及预测
• 欧洲：国别分析
  • 德国
  • 法国
  • 英国
  • 义大利
  • 西班牙

第八章：亚太地区鱼类疫苗市场展望

• 市场规模及预测
• 市占率及预测
• 亚太地区：国别分析
  • 中国
  • 印度
  • 日本
  • 韩国
  • 澳洲

第九章：中东和非洲鱼类疫苗市场展望

• 市场规模及预测
• 市占率及预测
• 中东与非洲：国别分析
  • 沙乌地阿拉伯
  • 阿拉伯聯合大公国
  • 南非

第十章：南美洲鱼类疫苗市场展望

• 市场规模及预测
• 市占率及预测
• 南美洲：国别分析
  • 巴西
  • 哥伦比亚
  • 阿根廷

第十一章 市场动态

• 促进因素
• 任务

第十二章 市场趋势与发展

• 併购
• 产品发布
• 近期趋势

第十三章：全球鱼类疫苗市场：SWOT分析

第十四章：波特五力分析

• 产业竞争
• 新进入者的潜力
• 供应商的议价能力
• 顾客权力
• 替代品的威胁

第十五章 竞争格局

• Merck Sharp & Dohme LLC
• Zoetis Services LLC
• Elanco Animal Health Incorporated
• Virbac SA
• HIPRA, SA
• Veterquimica SA
• Phibro Animal Health Corporation
• Ridgeway Biologicals Ltd
• Nisseiken Co., Ltd.
• Benchmark Holdings PLC

第十六章 策略建议

第十七章：关于研究公司及免责声明

The Global Fish Vaccine Market is projected to expand from USD 433.38 Million in 2025 to USD 587.11 Million by 2031, reflecting a compound annual growth rate (CAGR) of 5.19%. These biological preparations are critical for stimulating the immune systems of aquaculture species, conferring active acquired immunity against specific pathogens. Growth in this sector is largely propelled by the intensification of global aquaculture, where elevated stocking densities heighten the risk of disease transmission, thereby requiring rigorous preventative health protocols. Additionally, the industry is increasingly prioritizing vaccination strategies to decrease dependence on antibiotics, combat antimicrobial resistance, and adhere to stringent food safety regulations. This dedication to regulated sustainability is highlighted by data from the Global Seafood Alliance, which noted a 5% rise in certified responsible aquaculture facilities in 2024, reaching a total of 4,168 locations worldwide.

However, market growth faces a substantial obstacle in the form of the logistical intricacies and high expenses linked to administering vaccines to large populations across varied aquatic settings. Creating effective delivery systems that are economically feasible for lower-value species poses a persistent difficulty for manufacturers. This financial and operational hurdle is especially severe in developing regions, where small-scale farmers often lack the necessary resources to adopt advanced disease management strategies. Consequently, this disparity threatens to limit market penetration even as the prevalence of aquatic pathogens continues to rise, complicating efforts to secure widespread adoption of these essential health measures.

Market Driver

The rapid expansion of the global aquaculture industry is fundamentally transforming the fish vaccine market by generating massive demand for disease prevention measures. As production scales up to address global food security requirements, the high stocking densities utilized in commercial farming drastically increase stock susceptibility to pathogenic outbreaks, making systemic immunization protocols essential. This production surge is marked by a historic shift where farmed output has exceeded wild capture fisheries. According to the Food and Agriculture Organization (FAO) report 'The State of World Fisheries and Aquaculture 2024' released in June 2024, global aquaculture production hit a record 130.9 million tonnes in 2022, surpassing capture fisheries for the first time. Such immense scaling intensifies biological risks, a reality emphasized by the Norwegian Veterinary Institute's March 2024 report, which documented the death of 62.7 million farmed salmon in 2023, highlighting the economic imperative for robust prophylactic health solutions.

Concurrently, technological advancements in the development and delivery of novel vaccines are driving market momentum by enabling precise targeting of previously difficult viral and bacterial threats. The industry is evolving from simple inactivated bacterins to sophisticated genomic and recombinant solutions that provide wider protection and more efficient administration across diverse aquatic environments. This trend toward innovation is bolstered by government funding designed to modernize aquatic animal health management and curb antibiotic reliance. For example, the U.S. Department of Agriculture (USDA) announced in February 2024, under its 'Special Research Grants for Aquaculture Research' program, that approximately $1.936 million was available to support applied research into critical industry constraints, including disease management. These financial and technical resources are accelerating the commercialization of next-generation vaccines, allowing producers to minimize losses while adhering to sustainable production standards.

Market Challenge

The logistical intricacies and substantial operational costs involved in vaccinating mass populations present a formidable obstacle to the Global Fish Vaccine Market. Although injection remains the gold standard for high efficacy, it creates a labor-intensive and financially burdensome barrier for lower-value species and small-scale operations, which constitute a large share of the global aquaculture landscape. This economic disparity compels producers in developing regions to forego vaccination in favor of less sustainable management methods, effectively impeding market expansion into high-volume segments. As a result, manufacturers struggle to justify the research and development expenditures required to create delivery mechanisms suitable for varied aquatic environments, resulting in a cycle where financial constraints hinder the adoption of essential preventative health measures.

The direct consequence of these operational constraints is reflected in persistent stock losses, indicating that the market has not yet overcome the challenge of effective, widespread delivery. According to the industry organization Seafood Norway, the mortality rate for farmed salmon during the sea phase reached 15.4% in 2024. This statistic highlights the continuing discrepancy between vaccine availability and successful field application, demonstrating how logistical and cost-related barriers effectively limit market potential by preventing the comprehensive disease control necessary to secure the sector against prevalent health threats.

Market Trends

The growth of site-specific autogenous vaccine production is addressing the critical need for rapid-response solutions to pathogens not covered by standard licensed products. These custom vaccines, developed from pathogens isolated directly from specific farms, enable precise immunological targeting of local disease strains, filling a vital gap where regulatory approval for mass-market products cannot keep pace with viral mutations. This bespoke strategy is particularly essential for managing regional outbreaks that generic formulations fail to control. The expansion of this sub-sector is illustrated by AquaTactics receiving USDA approval to manufacture autogenous fish vaccines, as reported by The Fish Site in March 2025 in the article 'USDA Wet Lab Approval Sees AquaTactics Move Into Autogenous Vaccines', which allows for the provision of tailored health solutions to aquaculture facilities throughout the United States.

Simultaneously, targeted vaccine R&D for warm-water and emerging species is redirecting the industry's focus from established salmonid sectors toward high-volume segments such as shrimp. Manufacturers are engineering novel prophylactic technologies to address the distinct immunological challenges of invertebrates, which have historically lacked effective disease control measures. This diversification is crucial for mitigating severe losses caused by viral outbreaks in warm-water environments that previously depended on antibiotics or management adjustments. This trajectory of innovation is exemplified by Dalan Animal Health, which, according to The National Provisioner article 'Dalan Animal Health moves to commercialize shrimp vaccine, targeting aquaculture industry challenges' from November 2025, secured $3 million in funding to commercialize the world's first shrimp vaccine, directly tackling a significant unmet need in global aquaculture.

Key Market Players

• Merck Sharp & Dohme LLC
• Zoetis Services LLC
• Elanco Animal Health Incorporated
• Virbac S.A.
• HIPRA, S.A.
• Veterquimica S.A.
• Phibro Animal Health Corporation
• Ridgeway Biologicals Ltd
• Nisseiken Co., Ltd.
• Benchmark Holdings PLC

Report Scope

In this report, the Global Fish Vaccine Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Fish Vaccine Market, By Vaccine Type

• Killed Vaccine
• Inactivated Vaccine
• Attenuated Vaccine
• Toxoid Vaccine
• Subunit Vaccine
• Conjugate Vaccine
• Recombinant Vector Vaccines

Fish Vaccine Market, By Route of Administration

• Injection
• Immersion
• Spray
• Oral

Fish Vaccine Market, By Region

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • France
  • United Kingdom
  • Italy
  • Germany
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• South America
  • Brazil
  • Argentina
  • Colombia
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Fish Vaccine Market.

Available Customizations:

Global Fish Vaccine Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Table of Contents

1. Product Overview

• 1.1. Market Definition
• 1.2. Scope of the Market
  • 1.2.1. Markets Covered
  • 1.2.2. Years Considered for Study
  • 1.2.3. Key Market Segmentations

2. Research Methodology

• 2.1. Objective of the Study
• 2.2. Baseline Methodology
• 2.3. Key Industry Partners
• 2.4. Major Association and Secondary Sources
• 2.5. Forecasting Methodology
• 2.6. Data Triangulation & Validation
• 2.7. Assumptions and Limitations

3. Executive Summary

• 3.1. Overview of the Market
• 3.2. Overview of Key Market Segmentations
• 3.3. Overview of Key Market Players
• 3.4. Overview of Key Regions/Countries
• 3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Fish Vaccine Market Outlook

• 5.1. Market Size & Forecast
  • 5.1.1. By Value
• 5.2. Market Share & Forecast
  • 5.2.1. By Vaccine Type (Killed Vaccine, Inactivated Vaccine, Attenuated Vaccine, Toxoid Vaccine, Subunit Vaccine, Conjugate Vaccine, Recombinant Vector Vaccines)
  • 5.2.2. By Route of Administration (Injection, Immersion, Spray, Oral)
  • 5.2.3. By Region
  • 5.2.4. By Company (2025)
• 5.3. Market Map

6. North America Fish Vaccine Market Outlook

• 6.1. Market Size & Forecast
  • 6.1.1. By Value
• 6.2. Market Share & Forecast
  • 6.2.1. By Vaccine Type
  • 6.2.2. By Route of Administration
  • 6.2.3. By Country
• 6.3. North America: Country Analysis
  • 6.3.1. United States Fish Vaccine Market Outlook
    • 6.3.1.1. Market Size & Forecast
      • 6.3.1.1.1. By Value
    • 6.3.1.2. Market Share & Forecast
      • 6.3.1.2.1. By Vaccine Type
      • 6.3.1.2.2. By Route of Administration
  • 6.3.2. Canada Fish Vaccine Market Outlook
    • 6.3.2.1. Market Size & Forecast
      • 6.3.2.1.1. By Value
    • 6.3.2.2. Market Share & Forecast
      • 6.3.2.2.1. By Vaccine Type
      • 6.3.2.2.2. By Route of Administration
  • 6.3.3. Mexico Fish Vaccine Market Outlook
    • 6.3.3.1. Market Size & Forecast
      • 6.3.3.1.1. By Value
    • 6.3.3.2. Market Share & Forecast
      • 6.3.3.2.1. By Vaccine Type
      • 6.3.3.2.2. By Route of Administration

7. Europe Fish Vaccine Market Outlook

• 7.1. Market Size & Forecast
  • 7.1.1. By Value
• 7.2. Market Share & Forecast
  • 7.2.1. By Vaccine Type
  • 7.2.2. By Route of Administration
  • 7.2.3. By Country
• 7.3. Europe: Country Analysis
  • 7.3.1. Germany Fish Vaccine Market Outlook
    • 7.3.1.1. Market Size & Forecast
      • 7.3.1.1.1. By Value
    • 7.3.1.2. Market Share & Forecast
      • 7.3.1.2.1. By Vaccine Type
      • 7.3.1.2.2. By Route of Administration
  • 7.3.2. France Fish Vaccine Market Outlook
    • 7.3.2.1. Market Size & Forecast
      • 7.3.2.1.1. By Value
    • 7.3.2.2. Market Share & Forecast
      • 7.3.2.2.1. By Vaccine Type
      • 7.3.2.2.2. By Route of Administration
  • 7.3.3. United Kingdom Fish Vaccine Market Outlook
    • 7.3.3.1. Market Size & Forecast
      • 7.3.3.1.1. By Value
    • 7.3.3.2. Market Share & Forecast
      • 7.3.3.2.1. By Vaccine Type
      • 7.3.3.2.2. By Route of Administration
  • 7.3.4. Italy Fish Vaccine Market Outlook
    • 7.3.4.1. Market Size & Forecast
      • 7.3.4.1.1. By Value
    • 7.3.4.2. Market Share & Forecast
      • 7.3.4.2.1. By Vaccine Type
      • 7.3.4.2.2. By Route of Administration
  • 7.3.5. Spain Fish Vaccine Market Outlook
    • 7.3.5.1. Market Size & Forecast
      • 7.3.5.1.1. By Value
    • 7.3.5.2. Market Share & Forecast
      • 7.3.5.2.1. By Vaccine Type
      • 7.3.5.2.2. By Route of Administration

8. Asia Pacific Fish Vaccine Market Outlook

• 8.1. Market Size & Forecast
  • 8.1.1. By Value
• 8.2. Market Share & Forecast
  • 8.2.1. By Vaccine Type
  • 8.2.2. By Route of Administration
  • 8.2.3. By Country
• 8.3. Asia Pacific: Country Analysis
  • 8.3.1. China Fish Vaccine Market Outlook
    • 8.3.1.1. Market Size & Forecast
      • 8.3.1.1.1. By Value
    • 8.3.1.2. Market Share & Forecast
      • 8.3.1.2.1. By Vaccine Type
      • 8.3.1.2.2. By Route of Administration
  • 8.3.2. India Fish Vaccine Market Outlook
    • 8.3.2.1. Market Size & Forecast
      • 8.3.2.1.1. By Value
    • 8.3.2.2. Market Share & Forecast
      • 8.3.2.2.1. By Vaccine Type
      • 8.3.2.2.2. By Route of Administration
  • 8.3.3. Japan Fish Vaccine Market Outlook
    • 8.3.3.1. Market Size & Forecast
      • 8.3.3.1.1. By Value
    • 8.3.3.2. Market Share & Forecast
      • 8.3.3.2.1. By Vaccine Type
      • 8.3.3.2.2. By Route of Administration
  • 8.3.4. South Korea Fish Vaccine Market Outlook
    • 8.3.4.1. Market Size & Forecast
      • 8.3.4.1.1. By Value
    • 8.3.4.2. Market Share & Forecast
      • 8.3.4.2.1. By Vaccine Type
      • 8.3.4.2.2. By Route of Administration
  • 8.3.5. Australia Fish Vaccine Market Outlook
    • 8.3.5.1. Market Size & Forecast
      • 8.3.5.1.1. By Value
    • 8.3.5.2. Market Share & Forecast
      • 8.3.5.2.1. By Vaccine Type
      • 8.3.5.2.2. By Route of Administration

9. Middle East & Africa Fish Vaccine Market Outlook

• 9.1. Market Size & Forecast
  • 9.1.1. By Value
• 9.2. Market Share & Forecast
  • 9.2.1. By Vaccine Type
  • 9.2.2. By Route of Administration
  • 9.2.3. By Country
• 9.3. Middle East & Africa: Country Analysis
  • 9.3.1. Saudi Arabia Fish Vaccine Market Outlook
    • 9.3.1.1. Market Size & Forecast
      • 9.3.1.1.1. By Value
    • 9.3.1.2. Market Share & Forecast
      • 9.3.1.2.1. By Vaccine Type
      • 9.3.1.2.2. By Route of Administration
  • 9.3.2. UAE Fish Vaccine Market Outlook
    • 9.3.2.1. Market Size & Forecast
      • 9.3.2.1.1. By Value
    • 9.3.2.2. Market Share & Forecast
      • 9.3.2.2.1. By Vaccine Type
      • 9.3.2.2.2. By Route of Administration
  • 9.3.3. South Africa Fish Vaccine Market Outlook
    • 9.3.3.1. Market Size & Forecast
      • 9.3.3.1.1. By Value
    • 9.3.3.2. Market Share & Forecast
      • 9.3.3.2.1. By Vaccine Type
      • 9.3.3.2.2. By Route of Administration

10. South America Fish Vaccine Market Outlook

• 10.1. Market Size & Forecast
  • 10.1.1. By Value
• 10.2. Market Share & Forecast
  • 10.2.1. By Vaccine Type
  • 10.2.2. By Route of Administration
  • 10.2.3. By Country
• 10.3. South America: Country Analysis
  • 10.3.1. Brazil Fish Vaccine Market Outlook
    • 10.3.1.1. Market Size & Forecast
      • 10.3.1.1.1. By Value
    • 10.3.1.2. Market Share & Forecast
      • 10.3.1.2.1. By Vaccine Type
      • 10.3.1.2.2. By Route of Administration
  • 10.3.2. Colombia Fish Vaccine Market Outlook
    • 10.3.2.1. Market Size & Forecast
      • 10.3.2.1.1. By Value
    • 10.3.2.2. Market Share & Forecast
      • 10.3.2.2.1. By Vaccine Type
      • 10.3.2.2.2. By Route of Administration
  • 10.3.3. Argentina Fish Vaccine Market Outlook
    • 10.3.3.1. Market Size & Forecast
      • 10.3.3.1.1. By Value
    • 10.3.3.2. Market Share & Forecast
      • 10.3.3.2.1. By Vaccine Type
      • 10.3.3.2.2. By Route of Administration

11. Market Dynamics

• 11.1. Drivers
• 11.2. Challenges

12. Market Trends & Developments

• 12.1. Merger & Acquisition (If Any)
• 12.2. Product Launches (If Any)
• 12.3. Recent Developments

13. Global Fish Vaccine Market: SWOT Analysis

14. Porter's Five Forces Analysis

• 14.1. Competition in the Industry
• 14.2. Potential of New Entrants
• 14.3. Power of Suppliers
• 14.4. Power of Customers
• 14.5. Threat of Substitute Products

15. Competitive Landscape

• 15.1. Merck Sharp & Dohme LLC
  • 15.1.1. Business Overview
  • 15.1.2. Products & Services
  • 15.1.3. Recent Developments
  • 15.1.4. Key Personnel
  • 15.1.5. SWOT Analysis
• 15.2. Zoetis Services LLC
• 15.3. Elanco Animal Health Incorporated
• 15.4. Virbac S.A.
• 15.5. HIPRA, S.A.
• 15.6. Veterquimica S.A.
• 15.7. Phibro Animal Health Corporation
• 15.8. Ridgeway Biologicals Ltd
• 15.9. Nisseiken Co., Ltd.
• 15.10. Benchmark Holdings PLC

16. Strategic Recommendations

17. About Us & Disclaimer