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Add to CartGlobal Fishmeal & Fish Oil Market Growth, Share, Size, Trends and Forecast (2025 - 2031)
By Type;
Fishmeal and Fish Oil.By Source;
Salmon & Trout, Marine Fish, Crustaceans, Tilapia, and Carps.By Application;
Aquaculture & Aquatic Feeds, Land Animal Feeds & Livestock, Agriculture & Fertilizers, Pharmaceuticals, and Dietary SupplementsBy Geography;
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America - Report Timeline (2021 - 2031).Introduction
Global Fishmeal & Fish Oil Market (USD Million), 2021 - 2031
In the year 2024, the Global Fishmeal & Fish Oil Market was valued at USD 13,277.67 million. The size of this market is expected to increase to USD 18,435.33 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 4.8%.
The global fishmeal and fish oil market has seen significant growth due to the increasing demand for high-quality protein and omega-3 fatty acids in both human and animal nutrition. Fishmeal, derived from grinding and drying fish, is an essential ingredient in animal feed, particularly for aquaculture, poultry, and swine industries, where it enhances growth, feed conversion rates, and overall animal health. Fish oil, known for its rich content of omega-3 fatty acids, is widely used not only in animal feed but also in human health supplements, pharmaceuticals, and cosmetics. The market is driven by the need for sustainable and nutritionally rich feed sources in the face of a growing global population and rising demand for animal protein products.
The market is segmented by source, with key categories including marine fish, salmon & trout, crustaceans, tilapia, and carps. Marine fish, such as anchovies and sardines, remain the dominant source of fishmeal and fish oil, as they provide high-quality protein and fatty acids essential for animal feed. However, the rise of farmed fish species like salmon and trout, which offer rich omega-3 content, has contributed to the growth of fishmeal and fish oil demand from these sources. Additionally, the growing aquaculture industry is driving the market for fishmeal and fish oil derived from crustaceans, tilapia, and carps, especially in regions where these species are widely farmed.
Geographically, the Asia-Pacific region is the largest market for fishmeal and fish oil, driven by the expansion of aquaculture, particularly in countries like China, India, and Vietnam. The region is a major consumer of fishmeal and fish oil for use in shrimp and fish farming, where high-quality feed is crucial for maintaining healthy and high-yielding aquatic populations. Other regions such as North America and Europe are also significant players in the fishmeal and fish oil market, with demand driven by the growing consumption of functional foods, supplements, and the increasing focus on sustainable sourcing practices. As the demand for fishmeal and fish oil continues to rise across various industries, the market is expected to grow, with sustainability and efficient production methods becoming key focal points for future developments.
Global Fishmeal & Fish Oil Market Recent Developments
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In January 2024, the fishmeal and fish oil market was impacted by the increasing demand for sustainable sources of omega-3 fatty acids, leading to a rise in alternative sources like algae-based oils and plant-based proteins.
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In December 2022, the market experienced growth as aquaculture and pet food sectors increased their consumption of fishmeal and fish oil, driven by their high nutritional value for aquatic animals and pets.
Segment Analysis
The Global Fishmeal & Fish Oil Market has been segmented by Type, Source, Application and Geography, by type into fishmeal and fish oil, both of which serve as essential ingredients in animal feed and other industries. Fishmeal is primarily used as a high-protein supplement in livestock and aquaculture feeds, helping to improve growth rates, feed conversion, and overall animal health. It is especially popular in the poultry, swine, and aquaculture sectors. Fish oil, rich in omega-3 fatty acids, is crucial for promoting heart health, cognitive function, and immune support in both animals and humans. As demand for healthy animal products rises globally, the need for high-quality fishmeal and fish oil in feed formulations continues to grow, enhancing the market's expansion.
The market is also segmented by source, with key categories including marine sources and aquaculture sources. Marine sources dominate the fishmeal and fish oil market, with species such as anchovies, sardines, and herring being the primary fish used for extraction. These sources provide high-quality proteins and oils that are essential for the animal feed industry. However, there has been growing interest in aquaculture-based sources, especially as fish farming practices become more widespread and sustainable. As aquaculture continues to expand, particularly in regions like Asia-Pacific, the demand for fishmeal and fish oil derived from farmed fish is expected to rise, contributing to a more sustainable and diversified supply chain.
In terms of application, fishmeal and fish oil are primarily used in animal feed, with aquaculture being the largest sector. The growing demand for high-quality fish and seafood products has driven the need for efficient and sustainable aquaculture practices, further fueling the demand for fishmeal and fish oil in fish and shrimp feeds. These ingredients are also used in pet food and livestock feeds to improve overall animal health and performance. Additionally, fishmeal and fish oil are employed in pharmaceuticals and cosmetics, where the omega-3 fatty acids from fish oil are valued for their health benefits, particularly in managing inflammation and promoting skin health. As the global demand for functional foods, natural ingredients, and sustainable aquaculture practices continues to rise, the fishmeal and fish oil market is poised for continued growth across various applications and industries.
Global Fishmeal & Fish Oil Segment Analysis
In this report, the Global Fishmeal & Fish Oil Market has been segmented by Type, Source, Application and Geography.
Global Fishmeal & Fish Oil Market, Segmentation by Type
The Global Fishmeal & Fish Oil Market has been segmented by Type into Fishmeal and Fish Oil.
The global fishmeal and fish oil market is segmented by type into fishmeal and fish oil, both of which are vital components of animal feed, particularly in aquaculture and livestock industries. Fishmeal is a high-protein feed ingredient derived from fish, which is rich in essential amino acids, omega-3 fatty acids, and other nutrients that support the growth and health of animals. It is commonly used in the diets of poultry, swine, and aquaculture species such as fish and shrimp. The demand for fishmeal is driven by the increasing consumption of seafood and the growing need for protein-rich animal feed. Fishmeal is especially important in the aquaculture industry, where it enhances the growth and health of farmed fish.
Fish oil, another key segment of the market, is a valuable source of omega-3 fatty acids, particularly EPA and DHA, which are crucial for the health and development of animals. Fish oil is commonly added to animal feed to improve immune function, support heart health, and promote overall growth in livestock and aquaculture species. In addition to its use in animal feed, fish oil is also a key ingredient in human nutrition, particularly in the form of supplements. The rising awareness of the health benefits of omega-3 fatty acids has contributed to the growth of the fish oil market, especially in the context of the aquaculture industry, where fish oil supplementation improves the nutritional quality of farmed fish and seafood products.
Both fishmeal and fish oil are experiencing strong demand due to their essential nutritional properties and their role in sustainable animal farming. As global aquaculture production expands, particularly in regions like Asia-Pacific, the need for fishmeal and fish oil is increasing, creating significant market opportunities. Additionally, the use of fishmeal and fish oil in sustainable feed formulations is gaining importance, as these ingredients are a rich source of high-quality protein and essential fatty acids. This trend is expected to drive further growth in both segments of the fishmeal and fish oil market.
Global Fishmeal & Fish Oil Market, Segmentation by Source
The Global Fishmeal & Fish Oil Market has been segmented by Source into Salmon & Trout, Marine Fish, Crustaceans, Tilapia, and Carps.
The global fishmeal and fish oil market, segmented by source, includes several categories such as salmon & trout, marine fish, crustaceans, tilapia, and carps. The salmon & trout segment represents a significant portion of the market, primarily due to the high demand for omega-3-rich fishmeal and fish oil derived from these species. Salmon and trout are rich in essential fatty acids, making them valuable sources for both human consumption and animal feed. The growth of salmon farming, particularly in regions like Europe, North America, and Asia-Pacific, has driven the demand for fishmeal and fish oil from these fish, which are used to improve feed formulations for aquaculture and other livestock.
The marine fish segment is the largest source of fishmeal and fish oil, with species such as anchovies, sardines, and herring being the primary fish used for extraction. These species are abundant and widely available, offering a consistent and cost-effective source of high-protein meal and oil for the animal feed industry. Marine fish are prized for their nutrient-rich profile, making their derivatives ideal for enhancing the growth and health of farmed fish, poultry, and swine. As global demand for seafood products grows, particularly in emerging markets, the marine fish segment is expected to continue dominating the fishmeal and fish oil market.
The crustaceans segment, which includes shrimp, prawns, and other shellfish, represents a smaller but growing source of fishmeal and fish oil. As the aquaculture industry, particularly shrimp farming, expands globally, especially in regions like Asia-Pacific and Latin America, the need for fishmeal and fish oil from crustaceans is increasing. These products are used not only in aquaculture but also in pet food formulations, particularly for high-end products targeting the health and wellness of pets. Tilapia and carps, which are increasingly farmed in large quantities due to their fast growth rates and adaptability, also contribute to the fishmeal and fish oil market. While their market share is smaller compared to salmon or marine fish, tilapia and carps provide a sustainable, cost-effective source of protein and oil, especially for aquaculture in developing regions. As global fish production continues to diversify, these species are expected to play an increasingly important role in meeting the growing demand for fishmeal and fish oil.
Global Fishmeal & Fish Oil Market, Segmentation by Application
The Global Fishmeal & Fish Oil Market has been segmented by Application into Aquaculture & Aquatic Feeds, Land Animal Feeds & Livestock, Agriculture & Fertilizers, Pharmaceuticals, and Dietary Supplements.
The global fishmeal and fish oil market is segmented by application into aquaculture & aquatic feeds, land animal feeds & livestock, agriculture & fertilizers, pharmaceuticals, and dietary supplements, each serving distinct industries with unique needs. The largest share of the market is attributed to aquaculture & aquatic feeds, where both fishmeal and fish oil are crucial for the growth and health of farmed fish, shrimp, and other aquatic species. Fishmeal provides high-quality protein, while fish oil offers essential omega-3 fatty acids, promoting healthy development and disease resistance in aquatic animals. The expanding global demand for seafood, coupled with the growth of aquaculture in regions like Asia-Pacific and Latin America, significantly drives the market in this segment.
Land animal feeds & livestock also represents a major application for fishmeal and fish oil. These ingredients are increasingly used in poultry, swine, and cattle feed to enhance growth, improve feed conversion rates, and support immune function. Fishmeal's high protein content and fish oil's omega-3 fatty acids help improve overall animal health, boosting productivity in the livestock industry. The growing global population and rising demand for animal-based protein products are fueling the need for efficient and sustainable animal feed solutions, further contributing to the demand for fishmeal and fish oil in land animal feeds.
In addition to animal feed, agriculture & fertilizers is another important application for fishmeal and fish oil. Fishmeal, with its rich nutrient profile, is used as an organic fertilizer, providing essential trace elements and enhancing soil health. Fish oil, rich in fatty acids, can be used to improve soil structure and support plant growth. The growing trend toward organic farming and sustainable agricultural practices is driving the demand for fishmeal and fish oil in fertilizers. Furthermore, pharmaceuticals and dietary supplements benefit from the omega-3 content in fish oil, which is widely used in supplements for human health. The increasing awareness of the health benefits of omega-3 fatty acids for cardiovascular and cognitive health is driving the market for fish oil in the pharmaceutical and supplement industries.
Global Fishmeal & Fish Oil Market, Segmentation by Geography
In this report, the Global Fishmeal & Fish Oil Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Global Fishmeal & Fish Oil Market Share (%), by Geographical Region, 2024
The global fishmeal and fish oil market is distributed across various geographical regions, with Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa holding significant shares. Asia-Pacific dominates the global market, accounting for the largest share due to its substantial aquaculture industry, particularly in countries like China, India, Vietnam, and Thailand. These nations are major producers of fish and shrimp, and the demand for fishmeal and fish oil is driven by the need for high-quality, nutritious feed to support the growing aquaculture sector. The increasing consumption of seafood and the rising focus on efficient and sustainable aquaculture practices further fuel the demand for fishmeal and fish oil in this region.
Europe holds a considerable share in the global fishmeal and fish oil market, with countries such as Norway, Iceland, and Denmark being key players in fishmeal and fish oil production. The European market is characterized by a well-established aquaculture industry and growing use of fishmeal and fish oil in livestock and poultry feeds. Additionally, the growing demand for sustainable and high-quality feed solutions in organic farming and aquaculture contributes to the strong market presence of fishmeal and fish oil in Europe. Furthermore, Europe is a leading region in the production and consumption of omega-3 fatty acids, especially in the pharmaceutical and dietary supplement industries, which further supports the demand for fish oil.
North America is another key region in the global market, particularly the United States and Canada, where fishmeal and fish oil are widely used in aquaculture and land animal feed production. The increasing demand for sustainable feed solutions and the growth of the aquaculture industry in North America contribute to the market's expansion. The demand for fish oil in the dietary supplement and pharmaceutical industries, due to its omega-3 content, also plays a significant role in the region’s share of the market. Latin America and the Middle East & Africa are emerging markets where the demand for fishmeal and fish oil is rising, driven by the expansion of the livestock and aquaculture industries in these regions. As these markets continue to develop and demand for animal protein grows, the fishmeal and fish oil market in these regions is expected to see substantial growth.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Fishmeal & Fish Oil Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Drivers
- Growing Demand for Aquaculture Feed
- Rising Awareness of Health Benefits
- Expansion of Pet Food Industry
- Advancements in Processing
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Regulatory Support for Sustainable Fisheries: Regulatory Support for Sustainable Fisheries plays a crucial role in shaping the dynamics of the global fishmeal and fish oil market. Governments and international organizations have increasingly recognized the importance of sustainable fishing practices to preserve marine ecosystems and ensure long-term viability of fisheries. Regulatory frameworks such as catch quotas, fishing gear restrictions, and marine protected areas are implemented to prevent overfishing, minimize bycatch, and protect endangered species. These regulations aim to maintain fish stocks at levels that can support maximum sustainable yield (MSY), ensuring that fish populations are not depleted beyond their capacity for replenishment. By promoting responsible fishing practices, regulatory support fosters the sustainability of fishery resources, which in turn contributes to the availability of raw materials for fishmeal and fish oil production.
Regulatory initiatives prioritize the reduction of illegal, unreported, and unregulated (IUU) fishing activities, which pose significant threats to marine biodiversity and undermine efforts towards sustainable fisheries management. International agreements such as the Port State Measures Agreement (PSMA) and the United Nations Convention on the Law of the Sea (UNCLOS) aim to combat IUU fishing by enhancing port controls, strengthening monitoring and surveillance measures, and facilitating information sharing among countries. By cracking down on IUU fishing, regulatory bodies seek to promote fair competition in the fishing industry, prevent the depletion of fish stocks, and protect the livelihoods of coastal communities dependent on fisheries. Such regulatory interventions create a more conducive environment for sustainable fishing practices, thereby supporting the long-term stability of the fishmeal and fish oil market.
Regulatory support extends to certification schemes and eco-labeling programs that incentivize fisheries, aquaculture operations, and fishmeal processing facilities to adhere to sustainability standards. Certification bodies such as the Marine Stewardship Council (MSC) and the Aquaculture Stewardship Council (ASC) assess fisheries and aquaculture practices against rigorous criteria related to stock health, environmental impact, and social responsibility. Products that meet these standards are awarded eco-labels, signifying their sustainability credentials to consumers and seafood buyers. By encouraging market demand for sustainably sourced fishmeal and fish oil, regulatory support for certification schemes drives industry-wide adoption of responsible fishing and production practices. This not only enhances the environmental and social sustainability of the fishmeal and fish oil supply chain but also strengthens market competitiveness and consumer trust in sustainably sourced seafood products.
Restraints
- Environmental Concerns
- Consumer Preferences and Perception
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Regulatory Uncertainty: Regulatory Uncertainty poses a significant challenge in the global fishmeal and fish oil market, impacting businesses across the supply chain. Regulatory frameworks governing fisheries management, environmental sustainability, food safety, and labeling standards can vary significantly among different regions and jurisdictions, leading to complexity and ambiguity for industry participants. Changes in regulations, as well as evolving compliance requirements, can necessitate adjustments in production practices, product formulations, and marketing strategies, imposing additional costs and administrative burdens on businesses. Inconsistent or unclear regulatory standards may create confusion and hinder market access, particularly for companies operating in multiple countries or exporting their products internationally.
Key concerns related to regulatory uncertainty in the fishmeal and fish oil market is the impact on sustainability efforts and resource management. Fisheries management regulations play a crucial role in ensuring the sustainable utilization of marine resources and preventing overexploitation of fish stocks. Frequent changes or lack of clarity in regulatory frameworks can undermine long-term sustainability goals, leading to environmental degradation and depletion of fish populations. Uncertain regulatory environments may also deter investments in sustainable fishing practices and innovative technologies aimed at improving resource efficiency and reducing environmental impact, thereby hindering progress towards achieving sustainability objectives.
Regulatory uncertainty can affect consumer confidence and market stability in the fishmeal and fish oil industry. Inconsistent labeling standards or ambiguous safety regulations may erode consumer trust in product quality and safety, leading to reputational damage for brands and potential market disruptions. Uncertainty regarding compliance with regulatory requirements may deter investors and financiers from supporting industry initiatives and projects, impeding growth and innovation within the market. Addressing regulatory uncertainty requires proactive engagement with policymakers, stakeholders, and industry players to establish clear, science-based regulations that promote sustainability, ensure food safety, and facilitate market transparency and stability.
Opportunities
- Expansion of Functional Food and Nutraceuticals
- Innovation in Product Development
- Strategic Partnerships and Collaborations
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Focus on Sustainability and Traceability: There is a growing emphasis on sustainability and traceability throughout the supply chain. Sustainability initiatives aim to ensure that fishing practices are environmentally responsible and do not deplete fish stocks or harm marine ecosystems. This focus on sustainability is driven by increasing concerns over overfishing, habitat destruction, and the depletion of marine resources. Stakeholders in the industry, including fishmeal and fish oil producers, fisheries, and regulatory bodies, are implementing measures to promote sustainable fishing practices and reduce the environmental impact of fishing activities. These efforts include adopting sustainable fishing methods, implementing quotas and regulations to prevent overfishing, and supporting the establishment of marine protected areas.
Traceability plays a crucial role in ensuring the sustainability of fishmeal and fish oil products by providing transparency and accountability throughout the supply chain. Traceability systems track the journey of fish from catch to processing, distribution, and ultimately to the end consumer. By tracing the origin of fishmeal and fish oil products, stakeholders can verify their sustainability credentials, including whether the fish were sourced from well-managed fisheries or from illegal, unreported, and unregulated (IUU) fishing operations. Traceability also enables companies to identify and address any issues related to product quality, safety, and authenticity, thereby enhancing consumer confidence and trust in the market.
Consumers are increasingly demanding ethically sourced and sustainably produced fishmeal and fish oil products. They are becoming more aware of the environmental and social impacts associated with their purchasing decisions and are seeking products that align with their values. Companies in the fishmeal and fish oil industry are facing pressure to demonstrate their commitment to sustainability and traceability. Embracing sustainability practices and implementing robust traceability systems not only helps companies meet consumer expectations but also enhances their reputation, competitiveness, and long-term viability in the global market.
Competitive Landscape Analysis
Key players in Global Fishmeal & Fish Oil Market include
- Austevoll Seafood ASA
- Colpex International SAC
- Corpesca S.A.
- Corporacion Pesquera Inca S.A.C.
- Croda International PLC
- FF Skagen A/S
- FMC Corporation
- Gc Rieber Oil
- Marvesa Holding NV
- Mukka Sea Foods Industries Pvt. Ltd.
- Oceana Group Ltd.
- Omega Protein Corporation
- Orizon S.A.
- Pesquera Exalmar S.A.A.
- Pioneer Fishing
- Scoular Company
- SURSAN
- Tasa
- TripleNine Group A/S
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
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Market Snapshot, By Type
- Market Snapshot, By Source
- Market Snapshot, By Application
- Market Snapshot, By Region
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- Global Fishmeal & Fish Oil Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
- Growing Demand for Aquaculture Feed
- Rising Awareness of Health Benefits
- Expansion of Pet Food Industry
- Advancements in Processing
- Regulatory Support for Sustainable Fisheries
- Restraints
- Environmental Concerns
- Consumer Preferences and Perception
- Regulatory Uncertainty
- Opportunities
- Expansion of Functional Food and Nutraceuticals:
- Innovation in Product Development
- Strategic Partnerships and Collaborations
- Focus on Sustainability and Traceability
- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Global Fishmeal & Fish Oil Market, By Type, 2021 - 2031 (USD Million)
- Fishmeal
- Fish Oil
- Global Fishmeal & Fish Oil Market, By Source, 2021 - 2031 (USD Million)
- Salmon & Trout
- Marine Fish
- Crustaceans
- Tilapia
- Carps
- Global Fishmeal & Fish Oil Market, By Application, 2021 - 2031 (USD Million)
- Aquaculture & Aquatic Feeds
- Land Animal Feeds & Livestock
- Agriculture & Fertilizers
- Pharmaceuticals
- Dietary Supplements
- Global Fishmeal & Fish Oil Market, By Geography, 2021 - 2031 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Global Fishmeal & Fish Oil Market, By Type, 2021 - 2031 (USD Million)
- Competitive Landscape
- Company Profiles
- Austevoll Seafood ASA
- Colpex International SAC
- Corpesca S.A.
- Corporacion Pesquera Inca S.A.C.
- Croda International PLC
- FF Skagen A/S
- FMC Corporation
- Gc Rieber Oil
- Marvesa Holding NV
- Mukka Sea Foods Industries Pvt. Ltd.
- Oceana Group Ltd.
- Omega Protein Corporation
- Orizon S.A.
- Pesquera Exalmar S.A.A.
- Pioneer Fishing
- Scoular Company
- SURSAN
- Tasa
- TripleNine Group A/S
- Company Profiles
- Analyst Views
- Future Outlook of the Market