Global Aquaculture Probiotics Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Aquaculture Probiotics Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Probiotics are living microorganisms including lactobacillus species, bifidobacterium species and yeasts, that beneficially affect the host upon ingestion by improving the balance of intestines in aquatic animals. The key benefits over consumption of feed probiotics includes decreased occurrence and duration of diarrhoea, immunostimulation, pathogen resistance and maintenance of mucosal integrity.

Market Overview:

The latest research study on the global Aquaculture Probiotics market finds that the global Aquaculture Probiotics market reached a value of USD 191.42 million in 2022. It’s expected that the market will achieve USD 285.85 million by 2028, exhibiting a CAGR of 6.91% during the forecast period.

Influence of COVID-19 Outbreak on Aquaculture Probiotics Industry Development

The market of Aquaculture Probiotics is facing shortage in supply in many regions due to lack of proper guidance for essential commodities. The market is presently stable in terms of availability of bulk stock. However, companies are trying to reduce supply demand gap to maintain their market share. If the situation remains grim, the market is expected to face a downfall due to lack of supply.

Amid the Covid-19 crisis, the industry stakeholders in the Aquaculture Probiotics value chain would try to reduce the distance between food to plate. Therefore several vertical and horizontal integrations in the value chain are likely to happen post pandemic. The epidemic will accelerate industry differentiation. Small and medium-sized enterprises have limited ability to resist risks and may exit or transform, thus further negatively impact the Aquaculture Probiotics Industry. However, the probiotics industry may also consolidate to ensure common profitability and reduce the chances of market exit.

In the long run, the epidemic has caused severe damage to the global economy, market expectations are unstable, and risk factors increase. The spread of the epidemic will affect the process of bilateral and multilateral, regional trade and investment liberalization and economic integration. Many countries and regions have begun to consider re-adjusting their food strategies, and uncertainties and instability factors in the guarantee of Aquaculture Probiotics raw material supply will increase.

Limitations

Owing to several factors such as COVID-19 pandemic, adverse weather conditions, and global currency fluctuations, the industry faced a major challenge of raw material price fluctuations. Therefore, the fluctuation of the price of raw materials will have a greater impact on the company's production costs. Moreover, there is a lack of probiotic strains, and only a few strains of probiotics have been approved for production, such as Lactobacillus, Bacillus and Bifidobacterium; In addition, human resources costs are also increasing year by year. In the future, as the business continues to expand and the level of economic development continues to increase, human resources costs will continue to rise, thereby affecting the company's operating results. Therefore, rising cost and unavailability of raw material is restraining the growth of the animal probiotics market globally.

The ecological safety problems that may be caused by the excessive use of probiotics in aquaculture cannot be ignored, and may even cause a series of problems such as ecological invasion. At present, the application of lactic acid bacteria probiotics in aquaculture is expensive and the application effect is not good in large water bodies, restricting its widespread use. Moreover, there are fewer bacterial species of aquatic probiotics, limited immune methods, and the probiotic mechanism is not yet clear.

In addition to that, the screening and identification of probiotic bacteria are backward and relatively inefficient; live bacterial preparations are easily inactivated during feed processing and transportation; strains used for production are often slow-growing, and it is difficult to gain advantages in competition with disease-causing bacteria; the safety of probiotics is also a problem that should not be ignored.

Region Overview:

From 2023-2028, Europe is estimated to witness robust growth prospects.

Company Overview:

Novozymes is one of the major players operating in the Aquaculture Probiotics market, holding a share of 14.07% in 2020.

Novozymes is a world leader in bioinnovation. Novozymes works with its partners to innovate new solutions and rethink industries around the world. Novozymes' industrial enzymes, microorganisms, biopolymers, and other proteins allow its customers to achieve more efficient use of raw materials, reduce energy consumption, replace traditionalchemicals with more sustainable alternatives, and offer higher-quality products.

Evonik, the creative industrial group from Germany, is one of the world’s leading specialty chemicals companies. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Evonik benefits specifically from its innovative prowess and integrated technology platforms.

Segmentation Overview:

Among different product types, Lactobacilli segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Fish segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Aquaculture Probiotics market covered in Chapter 3:

Vinnbio
Keeton
Evonik Industries
C-MAX
LALLEMAND
Biomin Holding GmbH
QB Labs, LLC
Finar
Vland
Novozymes
BiOWiSH Technologies

In Chapter 4 and Chapter 14.2, on the basis of types, the Aquaculture Probiotics market from 2018 to 2029 is primarily split into:

Lactobacilli
Bifidobacteria
Photosynthetic bacteria
Bacillus

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Aquaculture Probiotics market from 2018 to 2029 covers:

Shrimp
Fish
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)