Fishmeal Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers

What industry-specific factors are fueling the growth of the fishmeal market?
The advancement of the aquaculture sector is anticipated to stimulate the fishmeal market's progression. Aquaculture, defined as farming aquatic species including fish, shellfish, and water plants like algae in freshwater, saltwater, and brackish water environments, is employed to not only provide food but also to regenerate endagered species, refill natural reserves, and rejuvenate habitats of aquatic creatures. A steep rise in seafood consumption coupled with the diminishing yearly haul of wild fish signals projected growth in aquaculture, which in return raises the demand for the fishmeal market. As an example, the Food and Agriculture Organization of the United Nations stated in August 2022 that the worldwide production of fisheries and aquaculture reached a striking 223.2 million tons, out of which 185.4 million tons were accounted for by aquatic species like fish, crustaceans, and mollusks, and 37.8 million tons by algae. Hence, the expansion of the aquaculture industry is a significant factor pushing the fishmeal market's demand.

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What Is the projected market size and growth rate for the fishmeal market?
The fishmeal market has seen substantial growth in the past years, expanding from a worth of $8.88 billion in 2024 to a projected $9.42 billion in 2025, noting a compound annual growth rate (CAGR) of 6.2%. This historical growth pattern can be traced back to a rise in global demand for aquaculture and animal feed, the burgeoning livestock and poultry sectors, increased awareness of fishmeal's nutritional qualities, growth of commercial fishing and processing initiatives, the requirement for protein-packed and nutrient-dense animal feeds, as well as the growing demand for fishmeal in the pet food and specialty feed markets.

Anticipated to witness robust growth in the coming years, the fishmeal market is projected to expand to a size of $11.93 billion by 2029, boasting a compound annual growth rate (CAGR) of 6.1%. This surge during the forecast period is largely due to the rising use of fishmeal as an omega-3 fatty acid source for functional foods, increased focus on sustainable and responsible fishing, as well as the exploration of alternate protein sources for animal feed. Other contributing factors to this market growth include the demand for nutrient-rich feeds in animal farming and husbandry, the widening use of fishmeal in the nutraceutical and pharmaceutical sectors, and the growing consumer preference for organic and non-gmo certified fishmeal products. A significant trend expected in the forecast period includes the emergence of advanced processing technologies, a heightened focus on omega-3 fatty acids, the enrichment of animal feeds, advancements in fishmeal quality assurance, and the development of bioactive compounds and functional additives.

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What new trends are reshaping the fishmeal market and its opportunities?
The uptake of innovative fishmeal products has been recognized as a dominant trend in the global fishmeal market. To cater to the burgeoning demand for diverse and nourishing fishmeal for animals, leading firms in the sector are launching new items. For example, Interpet, a British company specializing in fish-keeping and aquarium care, released a new food formula in July 2022 for pond fish under the Blagdon brand. Titled Blagdon Fit & Wild Pond Sticks, the product, which uses insects and small crustaceans, is devoid of fishmeal, and includes protein sources like mealworm meal, daphnia, bloodworms, and black soldier fly larvae that closely mirror the dietary habits of fish in their natural habitats. The objective of this product is to offer the most natural diet to the fish, supporting their fitness and health.

What major market segments define the scope and growth of the fishmeal market?
The fishmeal market covered in this report is segmented -

1) By Livestock: Ruminants, Poultry, Swine, Aquatic Animals, Other Livestock
2) By Source: Salmon and Trout, Marine Fish, Carps, Crustaceans, Tilapia, Other Sources
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 Other Shellfish
5) By Other Livestock: Goats, Sheep, Horses

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Which region dominates the fishmeal market?
Asia-Pacific was the largest region in the fishmeal market in 2024. The regions covered in the fishmeal market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Which key market leaders are driving the fishmeal industry growth?
Major companies operating in the fishmeal market include 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 S.A.C., Croda International PLC, TASA Pvt. Ltd., Corpesca SA, Colpex International S.A., Triplenine Group A/S, Pescanova SA, Pilmifresh S.A.

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What Is Covered In The Fishmeal Global Market Report?

•Market Size Forecast: Examine the fishmeal market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the fishmeal market for a structured understanding.
•Key Players Overview: Analyze major players in the fishmeal market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the fishmeal market.
•Segment Contributions: Evaluate how different segments drive overall growth in the fishmeal market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the fishmeal market.
•Industry Challenges: Identify potential risks and obstacles affecting the fishmeal market.
•Competitive Landscape: Review strategic developments in the fishmeal market, including expansions, agreements, and new product launches.

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