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Fishmeal Market Growth Analysis: How Will Revenue Trend Over The Forecast Period?
The fishmeal market has seen robust expansion in recent years. Its value is projected to climb from $9.38 billion in 2025 to $9.95 billion in 2026, demonstrating a compound annual growth rate (CAGR) of 6.0%. This historical growth can be ascribed to factors such as the expansion of aquaculture endeavors, increasing requirements for livestock feed, the accessibility of pelagic fish resources, the adoption of industrial fishmeal processing techniques, and the growth in fertilizer applications.
The fishmeal market size is anticipated to experience substantial expansion over the coming years. This market is projected to reach $12.64 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 6.2%. This expansion during the projection period stems from several factors, including the escalating need for sustainable aquafeed, a heightened emphasis on sourcing alternative proteins, the proliferation of intensive aquaculture setups, increased capital flow into feed optimization technologies, and stricter regulatory control over the use of marine resources. Key developments expected in this period encompass a greater requirement for high-protein components in aquafeed, wider adoption of sustainable fish origins, expanded application of fishmeal in livestock diets, a stronger focus on improving feed quality and its digestibility, and improvements in the processing efficiency for fishmeal production.
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Fishmeal Market Development Factors: What’s Supporting Demand?
The expansion of the aquaculture industry is anticipated to fuel the future growth of the fishmeal market. Aquaculture is defined as the cultivation and harvesting of fish, shellfish, and aquatic plants, such as algae, in various freshwater, saltwater, and brackish environments. This practice serves multiple purposes, including food production, the rebuilding of endangered species populations, replenishing natural stocks, and restoring habitats for water-dwelling organisms. A significant demand for seafood, combined with a decreasing annual catch of wild fish, is expected to drive the growth of aquaculture, which in turn will escalate the demand for the fishmeal market. For instance, in June 2024, the Food and Agriculture Organization of the United Nations, a US-based government agency, reported that aquatic animal production is expected to increase by 10 percent by 2032, reaching 205 million tonnes. Furthermore, SOFIA projects that apparent consumption will rise by 12 percent, supplying an average of 21.3 kg per capita in 2032. Therefore, the growth of the aquaculture industry is a primary driver for the demand within the fishmeal market.
Fishmeal Market Segmentation: How Does The Market Break Down By Category?
The fishmeal market covered in this report is segmented –
1) By Livestock: Ruminants, Poultry, Swine, Aquatic Animals, Other Livestock
2) By Source: Pelagic Marine Fish, Demersal Marine Fish, Aquaculture And Fish Processing By-Products, Freshwater Fish
3) By Application: Fertilizers, Animal Feed, Other Applications
Subsegments:
1) By Ruminants: Beef Cattle, Dairy Cattle
2) By Poultry: Broilers, Layers, Turkeys
3) By Swine: Weaner Pigs, Grower-Finisher Pigs
4) By Aquatic Animals: Farmed Fish, Shrimp And Shellfish
5) By Other Livestock: Goats, Sheep, Horses
Fishmeal Market Transformation Trends: What Innovations Are Driving Change?
Major companies operating in the fishmeal market are actively developing stress-combating fishmeal products, such as Pro-Allo, designed to counter environmental stress in fish. Pro-Allo is an innovative fishmeal formulated specifically to support allostasis in fish, helping them to effectively combat environmental stress. For example, in 2023, Pelagia, a Norway-based producer of pelagic fish products, introduced Pro-Allo, a revolutionary fishmeal created to assist fish in combating environmental stress, which results in significantly healthier and larger fish. Fundamentally, Pro-Allo supports allostasis, a vital biological process that equips fish to counteract stressors stemming from environmental changes or handling. A further distinctive attribute of Pro-Allo is its enriched concentration of water-soluble components, which predominantly include small proteins, free amino acids, and peptides.
Fishmeal Market Competitive Overview And Top Companies
Major companies operating in the fishmeal market are Aker Biomarine Antarctic AS, Alpha Atlantique, Animalfeeds International Corporation, Austevoll Seafood ASA, Biomega AS, Oceana Group Limited, Omega Protein Corporation, Pioneer Fishing (Pty) Ltd., Sarma Fish S.A.R.L, Pesquera Diamante S.A., Pesquera Exalmar S.A.A, Pesquera Hayduk SA, FF Skagen A/S, Pelagia AS, Orizon SA, Sardina D.O.O, Austral Group S.A.A, Corporacion Pesquera Inca S.A.C. (Copeinca), TASA Pvt. Ltd., Corpesca SA, Colpex International S.A., Triplenine Group A/S, Pilmifresh S.A.
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Fishmeal Market Top Region By Revenue And Market Share
Asia-Pacific was the largest region in the fishmeal market in 2025. The regions covered in the fishmeal market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.
