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Fishmeal Market Expected To Reach $12.64 Billion By 2030 At 6.2% CAGR
The fishmeal market has experienced strong growth in recent years. It is forecast to rise from $9.38 billion in 2025 to $9.95 billion in 2026, at a compound annual growth rate (CAGR) of 6.0%. The expansion observed in the historical period stems from various factors, including the growth of global aquaculture activities, increasing livestock feed requirements, the availability of pelagic fish resources, the adoption of industrial fishmeal processing techniques, and the rising demand for fertilizer applications.
The fishmeal market is anticipated to experience significant expansion over the coming years, reaching $12.64 billion in 2030, demonstrating a compound annual growth rate (CAGR) of 6.2%. This projected growth can be ascribed to several factors, including the increasing demand for sustainable aquafeed, a rising emphasis on alternative protein sourcing, the expansion of intensive aquaculture systems, growing investments in feed optimization technologies, and increased regulatory oversight concerning marine resource utilization. Prominent trends expected during this forecast period encompass a heightened demand for high-protein aquafeed ingredients, greater utilization of sustainable fish sources, the expansion of fishmeal’s application in livestock nutrition, an increased focus on feed quality and digestibility, and enhanced processing efficiency in fishmeal production.
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Fishmeal Market Demand Drivers: What Is Fueling Industry Growth?
The expanding aquaculture sector is projected to drive the growth of the fishmeal market in the coming years. Aquaculture refers to the cultivation of fish, shellfish, and aquatic plants like algae, within fresh, salt, and brackish waters. It serves purposes such as providing food, assisting in the recovery of endangered species, replenishing natural stocks, and restoring aquatic habitats. With the significant demand for seafood and the continuous decline in annual wild fish catches, aquaculture is expected to grow, consequently increasing the demand for the fishmeal market. As an illustration, in June 2024, the Food and Agriculture Organization of the United Nations, a US-based government agency, reported that aquatic animal production is anticipated to rise by 10 percent by 2032, reaching 205 million tonnes. Furthermore, SOFIA predicts that apparent consumption will grow by 12 percent, supplying an average of 21.3 kg per capita in 2032. Hence, the development of the aquaculture industry is a primary driver for the fishmeal market’s demand.
Fishmeal Market Segment Breakdown: Which Categories Generate The Most Revenue?
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 Innovation Trends: Which Developments Are Transforming The Industry?
Major companies in the fishmeal market are developing stress-combating fishmeal, such as Pro-Allo, to address environmental stress in fish. Pro-Allo is an innovative fishmeal formulated to support allostasis in fish, helping them to counteract environmental pressures. For example, in 2023, Pelagia, a Norway-based producer of pelagic fish products, launched Pro-Allo. This novel fishmeal is designed to assist fish in combating environmental stress, leading to significantly healthier and larger specimens. At its core, Pro-Allo supports allostasis, a vital biological process that enables fish to cope with stressors from environmental changes or handling. A key characteristic of Pro-Allo is its rich content of water-soluble components, mainly consisting of small proteins, free amino acids, and peptides.
Fishmeal Market Key Players And Strategic Industry Positioning
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 Global Footprint: Which Region Holds Market Leadership?
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.
