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Add to CartGlobal Fishmeal for Aquafeed Market Growth, Share, Size, Trends and Forecast (2025 - 2031)
By Species;
Fish, Crustaceans and Mollusks.By Lifecycle;
Starter Feed, Grower Feed, Finisher Feed, and Brooder Feed.By Form;
Dry, Wet and Moist.By Geography;
North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2021 - 2031).Introduction
Global Fishmeal for Aquafeed Market (USD Million), 2021 - 2031
In the year 2024, the Global Fishmeal for Aquafeed Market was valued at USD 128,365.72 million. The size of this market is expected to increase to USD 211,196.32 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 7.4%.
The Fishmeal for Aquafeed Market is a vital component of the global aquaculture industry, providing essential nutrition for a wide range of farmed fish and aquatic species. Fishmeal, derived from fish processing by-products and low-value fish species, serves as a high-quality protein source rich in essential amino acids, omega-3 fatty acids, vitamins, and minerals. Its nutritional profile makes it an ideal ingredient for formulating aquafeed diets that support growth, health, and reproduction in farmed fish, shrimp, and other aquatic organisms.
One of the primary drivers of the Fishmeal for Aquafeed Market is the expansion of the aquaculture sector, which has experienced rapid growth in response to increasing demand for seafood, dwindling wild fish stocks, and technological advancements in aquafeed formulation and fish farming practices. As aquaculture production continues to rise globally, particularly in countries like China, Norway, Chile, and Vietnam, the demand for fishmeal as a key component of aquafeed is expected to grow proportionally, driving market expansion and investment in fishmeal production and processing.
The nutritional superiority of fishmeal compared to alternative protein sources such as plant-based proteins or animal by-products remains a significant factor in its widespread usage in aquafeed formulations. Fishmeal provides a balanced amino acid profile, high digestibility, and palatability, which are crucial for promoting optimal growth performance, feed efficiency, and disease resistance in farmed fish and shrimp. Additionally, its natural origin and perceived health benefits contribute to consumer preferences for seafood products derived from fish fed with fishmeal-based diets, further supporting market demand and industry growth.
Challenges such as price volatility, supply constraints, and environmental sustainability concerns associated with fishmeal production and sourcing pose significant hurdles to the Fishmeal for Aquafeed Market. As a finite and finite resource, the sustainable management of fish stocks and responsible sourcing practices are critical for ensuring the long-term viability and integrity of the fishmeal supply chain. Consequently, industry stakeholders are exploring alternative protein sources, including plant proteins, algae, and insect meal, to reduce reliance on fishmeal and address sustainability challenges while meeting the nutritional needs of farmed fish and aquatic species.
Global Fishmeal for Aquafeed Market Recent Developments
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In May 2024, Cargill announced the expansion of its fishmeal production facility in Peru, increasing its capacity to meet growing demand for sustainable fishmeal.
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In February 2022, Ocean Nutrition Canada launched its new line of Omega-3 fish oil products for aquaculture, targeting the growing demand for sustainable and high-quality fish oil.
Segment Analysis
This report extensively covers different segments of Global Fishmeal for Aquafeed Market and provides an in depth analysis (including revenue analysis for both historic and forecast periods) for all the market segments. In this report, the analysis for every market segment is substantiated with relevant data points and, insights that are generated from analysis of these data points (data trends and patterns).
Global Fishmeal for Aquafeed Segment Analysis
In this report, the Global Fishmeal for Aquafeed Market has been segmented by Species, Lifecycle, Form and Geography.
Global Fishmeal for Aquafeed Market, Segmentation by Species
The Global Fishmeal for Aquafeed Market has been segmented by Species into Fish, Crustaceans and Mollusks.
Fish species, including salmon, trout, tilapia, and catfish, are among the primary consumers of fishmeal-based aquafeeds. These species have high protein requirements and benefit from the amino acids, omega-3 fatty acids, and micronutrients provided by fishmeal. Fishmeal supports muscle development, immune function, and overall vitality in farmed fish, contributing to improved growth rates, feed efficiency, and product quality. Crustaceans, such as shrimp, prawns, and crabs, also rely on fishmeal-based diets to meet their nutritional needs. Crustaceans have specific dietary requirements, including essential amino acids and minerals, which are efficiently supplied by fishmeal. Fishmeal enhances the growth, survival, and disease resistance of farmed crustaceans, promoting robust production and profitability in aquaculture operations.
Mollusks, including mussels, oysters, and clams, represent another segment of the aquaculture industry that benefits from fishmeal-based aquafeeds. While mollusks are filter feeders and obtain nutrients from the surrounding water, supplementation with fishmeal can enhance growth rates, tissue development, and reproductive performance. Fishmeal provides essential nutrients that support the metabolic processes and physiological functions of farmed mollusks, contributing to improved yield and quality in aquaculture production.
Global Fishmeal for Aquafeed Market, Segmentation by Lifecycle
The Global Fishmeal for Aquafeed Market has been segmented by Lifecycle into Starter Feed, Grower Feed, Finisher Feed and Brooder Feed.
Starter feed is tailored to the nutritional needs of young aquatic organisms, providing essential nutrients and proteins crucial for their early development and growth. This stage is critical for establishing healthy growth trajectories and ensuring optimal survival rates, making high-quality fishmeal indispensable in starter feed formulations. Grower feed, on the other hand, sustains the growth momentum of juvenile aquatic species as they transition into larger sizes. With an emphasis on protein content and balanced nutrition, grower feed formulations rely on fishmeal to support rapid growth, muscle development, and overall vitality during this pivotal stage of aquaculture production.
Finisher feed plays a vital role in preparing aquatic species for market readiness, focusing on maximizing growth rates, enhancing flesh quality, and promoting efficient feed conversion. Fishmeal serves as a key component in finisher feed formulations, providing essential amino acids, minerals, and vitamins necessary for achieving desirable market specifications and yields. Lastly, brooder feed is tailored to the nutritional needs of mature aquatic species during the breeding and reproduction phases. This specialized feed formulation supports reproductive health, egg production, and larval viability, ensuring the sustainability and continuity of aquaculture operations. By segmenting the market based on lifecycle stages, aquafeed manufacturers and producers can tailor their product offerings to meet the specific nutritional requirements of aquatic organisms at each developmental phase, thereby optimizing growth performance, health outcomes, and overall profitability in the Global Fishmeal for Aquafeed Market.
Global Fishmeal for Aquafeed Market, Segmentation by Form
The Global Fishmeal for Aquafeed Market has been segmented by Form into Dry, Wet and Moist.
Dry fishmeal is the most common form and is obtained through a process of cooking, pressing, drying, and grinding fish or fishery by-products. Dry fishmeal has low moisture content and is typically sold as a fine powder or granules. This form of fishmeal offers convenience in handling, storage, and transportation, making it suitable for large-scale aquafeed production and distribution. Dry fishmeal is widely used in pelleted and extruded aquafeed formulations for species such as salmon, trout, tilapia, and shrimp, providing a concentrated source of protein, amino acids, and essential nutrients essential for growth and development.
Wet and moist fishmeal, on the other hand, retain higher moisture content and may contain residual oil, water, or fish solubles from the processing process. These forms of fishmeal are often produced using alternative processing methods such as vacuum evaporation or enzyme-assisted extraction. Wet and moist fishmeal are primarily used in specialized aquafeed formulations, including paste feeds, pre-mixes, and liquid diets, where their higher moisture content and binding properties help improve feed palatability, digestibility, and handling characteristics. Wet and moist fishmeal are particularly favored in small-scale aquaculture operations, hatcheries, and nursery facilities where customized feed formulations and feeding regimes are employed to meet the specific needs of different life stages or species of farmed fish and aquatic organisms.
Global Fishmeal for Aquafeed Market, Segmentation by Geography
In this report, the Global Fishmeal for Aquafeed Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Global Fishmeal for Aquafeed Market Share (%), by Geographical Region, 2024
In North America, the dominance of the fishmeal for aquafeed market is underpinned by a combination of factors, including the region's growing consumption of fish and seafood products. With an increasing emphasis on healthy eating habits and awareness of the nutritional benefits of seafood, demand for aquaculture products continues to rise. Additionally, the expanding disposable income of the middle class population further fuels this trend, as consumers seek high-quality and sustainably sourced seafood options, driving the need for quality aquafeed formulations containing fishmeal. This growing demand creates opportunities for aquafeed manufacturers and suppliers to cater to the needs of North American aquaculture operations, contributing to the region's continued dominance in the fishmeal for aquafeed market during the forecast period.
The Asia-Pacific region is poised to witness significant growth in the fishmeal for aquafeed market, propelled by the rapid expansion of the aquaculture industry. As one of the largest producers of aquaculture products globally, countries in Asia-Pacific, such as China, India, Vietnam, and Thailand, are experiencing robust growth in aquafeed demand to support their thriving aquaculture sectors. Moreover, the increasing appetite for seafood among consumers in the region further augments the demand for fishmeal-based aquafeed formulations. With the Asia-Pacific region being a key hub for aquaculture production and consumption, the fishmeal for aquafeed market is expected to experience sustained growth in the coming years, driven by the rising demand for seafood and the expansion of aquaculture activities across the region.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Fishmeal for Aquafeed Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Drivers, Restraints and Opportunities
Drivers:
- Growing Aquaculture Industry
- Nutritional Benefits
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Rising Awareness of Sustainable Practices: With the escalating concerns surrounding overfishing and the imperative need for environmental sustainability, there has been a notable paradigm shift towards the production of sustainable aquafeed. This shift is largely fueled by the acknowledgment of the detrimental effects of traditional fishing practices on marine ecosystems and the urgent necessity to adopt more eco-friendly alternatives. In response to this, there has been a concerted effort within the aquaculture industry to source ingredients for aquafeed in a more sustainable manner.
A significant aspect of this sustainability drive lies in the utilization of fishmeal derived from byproducts of fish processing. By repurposing these byproducts that would otherwise go to waste, the aquafeed industry not only minimizes environmental impact but also maximizes resource efficiency. This aligns with broader sustainability goals by reducing the strain on wild fish stocks and promoting the circular economy concept. Consequently, there has been a growing demand for fishmeal sourced from byproducts, as it offers a viable solution to address both environmental concerns and the increasing need for protein-rich feed ingredients in aquaculture. This trend is expected to continue driving the demand for sustainably sourced fishmeal in the market.
Restraints:
- Fluctuating Fish Stocks
- Alternative Protein Sources
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Regulatory Constraints: The implementation of regulatory measures aimed at conserving marine resources and promoting sustainable fisheries management has significant implications for the availability and accessibility of fishmeal within the market. These regulations, which encompass various aspects such as fishing quotas, bycatch mitigation, and adherence to environmental standards, are designed to mitigate the overexploitation of fish stocks and minimize the negative ecological impacts associated with fishing activities.
Strict enforcement of fishing quotas limits the amount of fish that can be harvested from marine environments, thereby directly influencing the volume of raw material available for fishmeal production. Similarly, measures aimed at reducing bycatch, which involves the unintentional capture of non-target species during fishing operations, contribute to the overall conservation efforts but may also affect the quantity and diversity of fish available for processing into fishmeal.
Opportunities:
- Technological Advancements
- Market Diversification
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Focus on Circular Economy: Embracing circular economy principles presents a compelling opportunity for the fishmeal industry to optimize resource utilization and minimize waste throughout the production chain. By adopting strategies such as utilizing fish processing byproducts and promoting waste valorization, stakeholders can extract maximum value from raw materials while simultaneously reducing the environmental footprint associated with fishmeal production.
One key aspect of this approach involves the efficient utilization of fish processing byproducts, such as heads, bones, and trimmings, which are often discarded as waste. Instead of being wasted, these byproducts can be repurposed for fishmeal production, thereby maximizing the yield from each fish and reducing overall waste generation. Additionally, promoting waste valorization techniques, such as composting or bioconversion, allows for the conversion of organic waste into valuable products like fertilizer or biogas, further enhancing resource efficiency and minimizing environmental impact.
Competitive Landscape Analysis
Key players in Global Fishmeal for Aquafeed Market include
- Cargill, Incorporated
- ADM
- Alltech
- Purina Mills
- Nutreco
- Ridley Corp
- Nutriad International NV,
- Aller Aqua A / S
- Biomin
- INVE Aquaculture, Inc.
- Charoen Pokphand Group
- Hanpel
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
- Market Snapshot, By Species
- Market Snapshot, By Lifecycle
- Market Snapshot, By Form
- Market Snapshot, By Region
- Global Fishmeal for Aquafeed Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
- Growing Aquaculture Industry
- Nutritional Benefits
- Rising Awareness of Sustainable Practices
- Restraints
- Fluctuating Fish Stocks
- Alternative Protein Sources
- Regulatory Constraints
- Opportunities
- Technological Advancements
- Market Diversification
- Focus on Circular Economy
- 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 for Aquafeed Market, By Species, 2021 - 2031 (USD Million)
- Fish
- Crustaceans
- Mollusks
- Global Fishmeal for Aquafeed Market, By Lifecycle, 2021 - 2031 (USD Million)
- Starter Feed
- Grower Feed
- Finisher Feed,
- Brooder Feed
- Global Fishmeal for Aquafeed Market, By Form, 2021 - 2031 (USD Million)
- Dry
- Wet
- Moist
- Global Fishmeal for Aquafeed 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 for Aquafeed Market, By Species, 2021 - 2031 (USD Million)
- Competitive Landscape
- Company Profiles
- Cargill, Incorporated
- ADM
- Alltech
- Purina Mills
- Nutreco
- Ridley Corp
- Nutriad International NV,
- Aller Aqua A / S
- Biomin
- INVE Aquaculture, Inc.
- Charoen Pokphand Group
- Hanpel
- Company Profiles
- Analyst Views
- Future Outlook of the Market