Global Fishmeal Market Report

Global Fishmeal Market is anticipated to experience remarkable expansion, with a projected Compound Annual Growth Rate (CAGR) of 7.51% from 2025 to 2033. According to the market analysis, the market size is forecasted to reach USD 20.57 Billion by the end of 2033, up from USD 10.72 Billion in 2024.

Fishmeal Market Size and Forecast 2025 to 2033

Fishmeal is a high-protein feed ingredient produced from the processing of fish and fish by-products. It is primarily utilized in aquaculture, livestock, and pet food industries due to its rich nutritional profile, which includes essential amino acids, omega-3 fatty acids, and vitamins. The production process involves cooking, pressing, drying, and grinding fish, resulting in a fine powder that serves as a vital dietary component for various animal species. Fishmeal is particularly valued for its ability to enhance growth rates, improve feed efficiency, and promote overall health in farmed animals. The primary sources of fishmeal include small pelagic fish such as anchovies, sardines, and menhaden, which are often harvested in large quantities. As global demand for protein-rich food sources continues to rise, fishmeal has emerged as a crucial ingredient in sustainable animal husbandry practices, contributing to the nutritional needs of both terrestrial and aquatic animals.

The fishmeal market is driven by several key factors and opportunities that are shaping its growth trajectory. The increasing global demand for seafood, particularly from the aquaculture sector, is a significant driver, as fishmeal serves as a primary protein source in fish feed formulations. According to industry reports, aquaculture production has been steadily rising, with projections indicating that it will account for over 50% of the total fish consumed by 2030. Additionally, the growing awareness of the health benefits associated with omega-3 fatty acids has led to a surge in demand for fishmeal in livestock and pet food, as consumers seek products that promote health and well-being. Furthermore, advancements in sustainable fishing practices and the development of eco-friendly fishmeal production methods present opportunities for market expansion. As consumers increasingly prioritize sustainability, fishmeal producers that adopt responsible sourcing and processing practices are likely to gain a competitive edge in the market.

Market Dynamics

Fishmeal Market Drivers

• Growing Global Population: The increasing global population is a significant driver of the fishmeal market. As the world population is projected to reach approximately 9.7 billion by 2050, the demand for protein-rich food sources is expected to rise substantially. The Food and Agriculture Organization (FAO) estimates that global fish consumption will need to increase by 30% to meet the dietary needs of this growing population. Fishmeal, being a highly nutritious feed ingredient, plays a crucial role in aquaculture and livestock production, providing essential proteins and nutrients that enhance growth and health. This rising demand for fishmeal is further fueled by the shift towards more protein-rich diets, particularly in developing countries where meat consumption is on the rise.
• Increased Focus on Sustainable Aquaculture: Sustainability has become a central theme in the aquaculture industry, driving the demand for responsibly sourced fishmeal. The FAO emphasizes the importance of sustainable fishing practices to ensure the long-term viability of fish stocks and the health of marine ecosystems. As consumers become more environmentally conscious, they are increasingly seeking products that are certified as sustainable. This trend has led to a rise in the adoption of eco-labels and certifications for fishmeal, which not only enhances marketability but also aligns with global sustainability goals. The demand for sustainably sourced fishmeal is expected to grow, as aquaculture producers prioritize responsible sourcing to meet consumer expectations and regulatory requirements.
• Technological Advancements in Production: Technological innovations in fishmeal production are transforming the industry, enhancing efficiency and product quality. Advances in processing techniques, such as enzymatic hydrolysis and improved drying methods, have been shown to increase the yield and nutritional value of fishmeal. The National Oceanic and Atmospheric Administration (NOAA) highlights that these innovations not only improve the quality of fishmeal but also reduce waste and energy consumption during production. As producers adopt these advanced technologies, they can meet the growing demand for high-quality fishmeal while minimizing their environmental footprint.
• Rising Demand for Omega-3 Fatty Acids: The increasing awareness of the health benefits associated with omega-3 fatty acids is driving the demand for fishmeal in various applications. Omega-3 fatty acids are essential for human health, contributing to cardiovascular health, brain function, and overall well-being. The National Institutes of Health (NIH) reports that the consumption of omega-3s is linked to a reduced risk of chronic diseases. As consumers seek to incorporate more omega-3-rich products into their diets, the demand for fishmeal as a source of these beneficial fatty acids is expected to rise. This trend is particularly evident in the aquaculture sector, where fishmeal is used to enhance the omega-3 content of farmed fish, making them more appealing to health-conscious consumers.

Fishmeal Market Opportunities

• Expansion of Aquaculture in Emerging Markets: The expansion of aquaculture in emerging markets presents a significant opportunity for the fishmeal industry. Countries in Asia, Africa, and Latin America are increasingly investing in aquaculture to meet the rising demand for seafood and improve food security. The FAO reports that aquaculture production in these regions is expected to grow substantially, driven by population growth and changing dietary preferences. As aquaculture expands, the demand for high-quality fishmeal as a primary feed ingredient will increase, providing fishmeal producers with opportunities to enter new markets and establish partnerships with local aquaculture operations. This growth in emerging markets is likely to be a key driver of fishmeal demand in the coming years.
• Innovative Product Development: There is a growing trend towards the development of specialized fishmeal products tailored to meet the specific nutritional needs of different animal species. The National Animal Feed Association (NAFA) emphasizes the importance of innovation in the feed industry, as producers seek to enhance the health and performance of livestock and aquaculture species. Fishmeal enriched with probiotics, vitamins, and other functional ingredients can provide additional health benefits, making it an attractive option for feed formulations. This trend towards innovative product development presents opportunities for fishmeal producers to differentiate their offerings and capture a larger share of the market by addressing the evolving needs of consumers and producers alike.
• Health and Wellness Trends: The increasing consumer focus on health and wellness is driving the demand for animal products that are rich in omega-3 fatty acids and other beneficial nutrients. As consumers become more health-conscious, they are seeking out food products that promote well-being, including those derived from animals fed with high-quality fishmeal. The FAO highlights that the demand for omega-3-enriched products is on the rise, particularly in the meat, dairy, and aquaculture sectors. Fishmeal producers can capitalize on this trend by emphasizing the nutritional benefits of their products and positioning fishmeal as a key ingredient in health-oriented feed formulations.
• Sustainability Certifications and Eco-Labeling: The increasing demand for sustainability certifications and eco-labeling in the food industry presents a unique opportunity for fishmeal producers. As consumers become more aware of the environmental impact of their food choices, they are actively seeking products that are certified as sustainable. The Marine Stewardship Council (MSC) and other organizations are promoting responsible fishing practices, which can enhance the marketability of fishmeal products. Producers who obtain sustainability certifications can differentiate themselves in a competitive market, appealing to environmentally conscious consumers and gaining a competitive edge.

Fishmeal Market Restrain & Challenges

• Overfishing and Resource Depletion: One of the most significant challenges facing the fishmeal market is the issue of overfishing and the depletion of fish stocks. The FAO has reported that many fish species are being harvested at unsustainable levels, leading to concerns about the long-term viability of fishmeal production. Overfishing not only threatens the availability of raw materials for fishmeal but also raises ethical and environmental concerns that can impact consumer perceptions and demand. As regulatory bodies implement stricter fishing quotas and sustainability measures, fishmeal producers may face challenges in sourcing sufficient quantities of fish, potentially leading to increased production costs and market volatility.
• Regulatory Compliance and Environmental Standards: The fishmeal industry is subject to stringent regulations aimed at ensuring sustainable fishing practices and environmental protection. Compliance with these regulations can be complex and costly for producers. The National Oceanic and Atmospheric Administration (NOAA) emphasizes the need for fishmeal producers to adhere to sustainable sourcing practices, which may require investments in technology and processes to meet regulatory standards. Failure to comply with these regulations can result in penalties, loss of market access, and damage to brand reputation. As the regulatory landscape continues to evolve, fishmeal producers must navigate these challenges to remain competitive in the market.
• Price Volatility and Market Fluctuations: The fishmeal market is susceptible to price volatility driven by various factors, including changes in fish supply, demand dynamics, and global economic conditions. The FAO has noted that fluctuations in fishmeal prices can create uncertainty for producers and consumers alike, impacting profitability and investment decisions within the industry. Price volatility can be exacerbated by external factors such as climate change, which can affect fish populations and availability. As producers face challenges in managing costs and pricing strategies, the potential for market fluctuations poses a significant challenge to the stability and growth of the fishmeal market.
• Competition from Alternative Protein Sources: The rise of alternative protein sources, such as plant-based proteins and insect meal, poses a challenge to the fishmeal market. As consumers increasingly seek sustainable and ethical food options, the demand for these alternatives may grow, potentially impacting the market share of fishmeal. The FAO highlights the need for fishmeal producers to adapt to changing consumer preferences and explore diversification strategies to remain competitive. This competition from alternative protein sources may require fishmeal producers to innovate and enhance the value proposition of their products to retain market relevance.

Current Trends in the Fishmeal Market

• Sustainable Sourcing and Eco-Friendly Practices: The fishmeal industry is increasingly adopting sustainable sourcing practices to address environmental concerns and meet consumer demand for responsibly produced products. The Marine Stewardship Council (MSC) reports a growing number of fisheries obtaining sustainability certifications, which enhances the credibility of fishmeal products in the market. This trend not only supports the long-term viability of fishmeal production but also aligns with the global push for sustainable food systems. As consumers increasingly prioritize sustainability, fishmeal producers that adopt responsible sourcing and processing practices are likely to gain a competitive edge in the market.
• Technological Innovations in Processing: Advancements in processing technologies are transforming the fishmeal production landscape. Techniques such as enzymatic hydrolysis and improved drying methods are enhancing the efficiency and quality of fishmeal. The National Institute of Food and Agriculture (NIFA) emphasizes that these innovations enable producers to maximize yield while minimizing waste, contributing to a more sustainable and profitable industry. As producers adopt these advanced technologies, they can meet the growing demand for high-quality fishmeal while minimizing their environmental footprint. Furthermore, the integration of digital technologies in supply chain management is improving traceability and transparency, allowing producers to better respond to market demands and consumer preferences.
• Increased Focus on Nutritional Quality: There is a growing emphasis on the nutritional quality of fishmeal, driven by the demand for healthier animal products. Research from the National Animal Feed Association (NAFA) indicates that fishmeal enriched with omega-3 fatty acids and other beneficial nutrients can enhance the health and performance of livestock and aquaculture species. This trend is prompting producers to invest in product development and quality assurance measures to meet evolving consumer expectations. As the demand for high-quality, nutrient-dense feed ingredients continues to rise, fishmeal producers are focusing on improving the nutritional profile of their products to capture a larger share of the market.
• Integration of Technology in Supply Chain Management: The integration of technology in supply chain management is becoming increasingly important in the fishmeal market. Digital tools and data analytics are being utilized to optimize production processes, monitor supply chain efficiency, and enhance traceability. The Food and Agriculture Organization (FAO) highlights the role of technology in improving transparency and accountability within the fishmeal supply chain, ultimately benefiting producers and consumers alike. As the industry embraces digital transformation, fishmeal producers can enhance their operational efficiency and better respond to market dynamics, positioning themselves for future growth.

Segmentation Insights

Fishmeal Market Analysis, By Source

By Source, the market is categorized into Salmon & Trout, Marine Fish, Carps, Crustaceans, Tilapia, and Others.

• The largest segment in the fishmeal market is derived from marine fish, primarily due to its high protein content and nutritional value. Marine fish, such as anchovies and sardines, are abundant and widely harvested, making them a reliable source for fishmeal production. Their rich omega-3 fatty acid profile is particularly appealing to aquaculture and livestock sectors, where the demand for high-quality feed ingredients is paramount. The versatility of marine fish in various applications, including aquaculture and animal feed, further solidifies their position as the leading source in the fishmeal market.
• The fastest-growing segment is tilapia, which has gained popularity in aquaculture due to its rapid growth rate and adaptability to various farming conditions. The increasing consumer preference for tilapia as a sustainable and affordable seafood option has led to a surge in its production. As tilapia farming expands, the demand for fishmeal derived from this species is expected to rise significantly. The nutritional benefits of tilapia fishmeal, combined with its cost-effectiveness, make it an attractive choice for aquaculture producers seeking to enhance feed formulations. While tilapia is not the largest segment, its growth trajectory indicates a promising future in the fishmeal market.

Fishmeal Market Analysis, By Livestock

By Livestock Type, the market is categorized into Ruminants, Poultry, Swine, Aquatic Animals, Pets, and Others.

• The largest segment in the fishmeal market is poultry, primarily due to the high protein requirements of poultry diets. Fishmeal is an essential ingredient in poultry feed, providing the necessary amino acids and omega-3 fatty acids that promote growth and overall health. The increasing global demand for poultry products, driven by population growth and changing dietary preferences, has solidified the position of poultry as the leading segment in the fishmeal market. The nutritional advantages of fishmeal in enhancing feed efficiency and meat quality further contribute to its dominance in this sector, making it a preferred choice among poultry producers.
• The fastest-growing segment is aquatic animals, particularly in the context of aquaculture. The rising demand for seafood and the expansion of aquaculture practices have led to a significant increase in the use of fishmeal in feed formulations for various aquatic species. As aquaculture continues to grow, driven by the need for sustainable protein sources, the demand for fishmeal tailored for aquatic animals is expected to rise rapidly. The nutritional benefits of fishmeal in promoting healthy growth and disease resistance in farmed fish make it a critical component in the aquaculture industry. While aquatic animals are not the largest segment, their rapid growth indicates a significant opportunity for fishmeal producers.

Fishmeal Market Analysis, By Application

By Application Type, the market is categorized into Fertilizers, Animal Feed, and Others.

• The largest segment in the fishmeal market is animal feed, which encompasses a wide range of applications across livestock and aquaculture. Fishmeal is a highly sought-after ingredient in animal feed formulations due to its rich protein content and essential nutrients. The increasing global demand for meat, dairy, and aquaculture products has driven the growth of the animal feed segment, making it the leading application for fishmeal. The ability of fishmeal to enhance feed efficiency and improve animal health further solidifies its position in this segment, as producers seek to optimize growth and productivity in livestock and aquaculture.
• The fastest-growing segment is fertilizers, driven by the rising interest in organic farming and sustainable agricultural practices. Fishmeal is recognized for its nutrient-rich profile, making it an effective organic fertilizer that enhances soil health and promotes plant growth. As consumers increasingly seek environmentally friendly agricultural solutions, the demand for fishmeal as a fertilizer is expected to grow rapidly. The dual benefits of fishmeal in providing essential nutrients to crops while supporting sustainable farming practices contribute to its status as the fastest-growing application in the market.

Fishmeal Market Regional Insights

The market has been geographically analysed across five regions: Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa.

• The largest region in the fishmeal market is Asia Pacific, primarily due to its dominance in aquaculture production. Countries such as China, India, and Vietnam are leading producers of farmed fish, driving the demand for fishmeal as a key ingredient in aquaculture feed. The region's favorable climatic conditions, extensive water resources, and established aquaculture practices contribute to its leadership in the fishmeal market. Additionally, the increasing population and rising disposable incomes in Asia Pacific are fueling the demand for seafood, further solidifying the region's position as the largest market for fishmeal.
• The fastest-growing region is Latin America, where the aquaculture industry is experiencing rapid expansion. Countries like Brazil and Chile are investing significantly in aquaculture development, driven by the increasing demand for seafood both domestically and internationally. The region's abundant marine resources and favorable regulatory environment for aquaculture are attracting investments, leading to a surge in fishmeal production. As the demand for sustainable protein sources continues to rise, Latin America is poised to become a key player in the global fishmeal market. Top of Form

Fishmeal Market Competitive Overview

The fishmeal market is characterized by a competitive landscape that includes a diverse array of players, ranging from large multinational corporations to smaller, specialized producers. This market is influenced by several factors, including the increasing demand for high-quality protein sources in aquaculture and livestock feed, as well as the growing emphasis on sustainability and responsible sourcing practices. As a result, companies are focusing on innovation, product differentiation, and strategic partnerships to enhance their market position. Key players in the fishmeal market are investing in advanced processing technologies to improve the quality and nutritional profile of their products. Innovations such as enzymatic hydrolysis and improved drying techniques are being adopted to maximize yield while minimizing waste.

Leading Market Players in the Fishmeal Market

• FF Skagen: FF Skagen is a prominent player in the fishmeal market, renowned for its commitment to sustainability and high-quality products. The company operates state-of-the-art processing facilities that adhere to stringent environmental standards, ensuring responsible sourcing of fish. FF Skagen specializes in producing fishmeal and fish oil from various fish species, primarily focusing on small pelagic fish such as anchovies and sardines. The company’s dedication to quality is reflected in its rigorous quality control processes, which ensure that its products meet the highest nutritional standards. FF Skagen also emphasizes innovation, investing in research and development to enhance its product offerings and improve processing techniques.
• The Scoular Company: The Scoular Company is a leading player in the fishmeal industry, recognized for its extensive experience and expertise in sourcing and processing fishmeal. With a strong commitment to sustainability, The Scoular Company works closely with fisheries to ensure responsible sourcing of raw materials. The company offers a diverse range of fishmeal products tailored to meet the specific needs of its customers in the aquaculture and livestock sectors. The Scoular Company’s focus on quality is complemented by its robust supply chain management, which enables it to deliver consistent and reliable products to its clients. In addition to fishmeal, the company also provides a variety of other animal nutrition products, positioning itself as a comprehensive solution provider in the feed industry.
• Omega Protein Corporation: Omega Protein Corporation is a key player in the fishmeal market, specializing in the production of fishmeal and fish oil derived from menhaden, a small, oily fish abundant along the Atlantic coast of the United States. The company is known for its commitment to sustainability and responsible fishing practices, operating under strict environmental regulations to ensure the long-term health of fish stocks. Omega Protein’s fishmeal products are highly regarded for their nutritional quality, making them a preferred choice for aquaculture and livestock feed. The company invests in advanced processing technologies to enhance the quality and efficiency of its production processes, ensuring that its products meet the evolving needs of its customers.

Top Strategies Followed by Players

• Sustainability Initiatives: Leading players in the fishmeal market are increasingly adopting sustainability initiatives to address environmental concerns and meet consumer demand for responsibly sourced products. Companies are actively seeking certifications from recognized organizations to demonstrate their commitment to sustainable fishing practices. This trend is driven by growing consumer awareness regarding the environmental impact of food production and the desire for sustainable options. By obtaining sustainability certifications, companies can enhance their marketability and appeal to environmentally conscious consumers.
• Technological Advancements: Another key strategy employed by leading fishmeal producers is the investment in technological advancements to improve production efficiency and product quality. Companies are adopting innovative processing techniques, such as enzymatic hydrolysis and advanced drying methods, to enhance the nutritional profile of their fishmeal products while minimizing waste. These technological innovations enable producers to maximize yield and reduce energy consumption, contributing to a more sustainable production process. Furthermore, the integration of digital technologies in supply chain management is becoming increasingly important, allowing companies to optimize production processes, monitor supply chain efficiency, and enhance traceability.
• Product Diversification: To capture a larger share of the market, leading players in the fishmeal industry are focusing on product diversification. Companies are developing specialized fishmeal products tailored to meet the specific nutritional needs of different animal species, including aquaculture, livestock, and pets. This trend is driven by the increasing demand for high-quality, nutrient-dense feed ingredients that promote animal health and performance. By offering a diverse range of products, fishmeal producers can cater to the unique requirements of various sectors and enhance their market presence. Top of Form

List of Companies Profiled in the Report are:

• FF Skagen
• The Scoular Company
• Omega Protein Corporation
• Oceana Group Limited
• Pelagia
• Pesquera Diamante SA
• Pesquera Exalmar S.A.A
• Austral Group S.A.A
• Copeinca
• Triplenine Group A/S

Global Fishmeal Market Report: Scope

List of Segments Covered

This section of the Fishmeal market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.

By Source

• Salmon & Trout
• Marine Fish
• Carps
• Crustaceans
• Tilapia
• Others

By Livestock

• Ruminants
• Poultry
• Swine
• Aquatic Animals
• Pets
• Others

By Application

• Fertilizers
• Animal Feed
• Others