Fishmeal Market Growth: Valued at $10.7 Bn in 2025, to reach $17.6 Bn by 2032 driven by aquaculture demand

The global fishmeal market is on a steady trajectory of growth, reflecting the increasing demand for high-quality animal feed and aquaculture nutrition. According to Persistence Market Research, the market is expected to rise from a valuation of US$ 10.7 billion in 2025 to an estimated US$ 17.6 billion by 2032, registering an impressive compound annual growth rate (CAGR) of 7.4% during the forecast period (2025-2032). Fishmeal, derived from processed fish and fish trimmings, serves as a rich source of protein, essential amino acids, and omega-3 fatty acids, making it an indispensable component in feed for aquaculture, poultry, and livestock industries.

The market growth is driven by the increasing global demand for aquaculture products, the expansion of livestock production, and growing awareness of the nutritional benefits of fish-derived proteins. Rising population, urbanization, and dietary shifts toward protein-rich foods are further propelling the need for nutrient-dense feed ingredients. Moreover, the sustainability initiatives by manufacturers to optimize raw material utilization and improve processing efficiency are bolstering fishmeal production capacity.

One of the key growth drivers is the expansion of aquaculture, particularly in regions such as Asia-Pacific and Latin America. The growing preference for fishmeal as a superior feed ingredient due to its high digestibility, balanced amino acid profile, and enrichment with omega-3 fatty acids is fostering continuous demand. Furthermore, innovations in fishmeal processing technologies, such as enzymatic hydrolysis and fermentation, are improving product quality, leading to higher adoption across the animal nutrition industry.

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What factors are driving the demand for fishmeal in the global animal feed industry?
The demand for fishmeal in the animal feed industry is largely driven by the increasing focus on enhancing animal growth rates, feed conversion efficiency, and product quality in aquaculture and livestock farming. Fishmeal is considered one of the most nutrient-dense feed ingredients, providing a balanced source of protein, essential fatty acids, and minerals that improve overall animal health and productivity. Additionally, the rising trend toward sustainable aquaculture and the need to replace traditional feed sources with high-performance alternatives have significantly accelerated the use of fishmeal across global markets.

Segmentation Analysis

By Product Type
The fishmeal market is segmented based on product type into whole fishmeal, fish trimmings meal, and others. Among these, the whole fishmeal segment continues to dominate the market, owing to its superior nutritional composition and widespread use in aquafeed formulations. Whole fishmeal, primarily produced from small, pelagic fish species, offers high protein content and essential nutrients that enhance feed quality and fish growth performance.

The fish trimmings meal segment is projected to exhibit the fastest growth over the forecast period, driven by the increasing adoption of circular economy practices and sustainable production models. The use of fish trimmings, by-products, and waste from fish processing operations helps reduce environmental impact and enhances cost efficiency. This trend aligns with the growing emphasis on resource optimization and waste reduction across the global seafood industry.

By End Use
In terms of end-use, the global fishmeal market is categorized into aquaculture, poultry feed, swine feed, pet food, and others. The aquaculture segment holds the largest share, accounting for a substantial portion of global consumption. Fishmeal remains an essential feed component for farmed fish and shrimp due to its superior digestibility and contribution to optimal growth rates. The rise in aquaculture production, particularly in countries such as China, India, Norway, and Chile, has driven robust demand for fishmeal.

The poultry feed segment is also witnessing significant growth, as fishmeal is increasingly being used to enrich poultry diets with high-quality proteins and essential fatty acids. Additionally, the pet food segment is emerging as a promising area of growth, supported by rising pet ownership rates and consumer preference for nutritionally enriched pet products.

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Regional Insights

Geographically, the fishmeal market spans North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa. Among these, Latin America stands out as the leading region in terms of production and export, with Peru and Chile being major contributors. These countries benefit from abundant marine resources and established processing facilities that enable large-scale fishmeal production. The availability of high-quality raw materials and proximity to global export markets have strengthened the region's competitive advantage.

Europe remains a significant consumer of fishmeal, particularly for aquaculture and animal feed industries in countries like Norway, Denmark, and the United Kingdom. The region's commitment to sustainable sourcing and stringent regulatory standards supports the development of traceable, high-quality fishmeal products.

Asia-Pacific is expected to emerge as the fastest-growing region during the forecast period. The rapid expansion of aquaculture in China, India, Vietnam, and Indonesia is a primary driver of market growth. Increasing demand for seafood, government initiatives supporting aquaculture development, and investments in modern feed manufacturing facilities are enhancing regional consumption. Moreover, the shift toward domestic production of feed ingredients to reduce dependency on imports is fostering the establishment of new fishmeal processing units in the region.

Unique Features and Innovations in the Market

Modern fishmeal production has evolved significantly, with technological innovations transforming efficiency, sustainability, and product quality. The integration of advanced processing systems, such as enzymatic hydrolysis and thermal optimization, has enabled manufacturers to enhance protein recovery and minimize nutrient degradation. The use of automation and IoT-based monitoring systems has further improved operational efficiency and quality consistency.

Digital traceability platforms are being adopted to ensure transparency across the fishmeal supply chain, meeting increasing consumer and regulatory demands for sustainability. Furthermore, research into alternative raw materials, such as non-food-grade fish species and processing by-products, is paving the way for sustainable fishmeal production with minimal environmental impact.

In addition, advances in biotechnology are contributing to improved amino acid profiles and digestibility, enhancing the nutritional performance of fishmeal-based feeds. These developments underscore the market's transition toward more responsible and technology-driven production models.

Market Highlights

The global fishmeal market is witnessing a strong adoption trend driven by factors such as sustainable aquaculture growth, rising awareness of feed efficiency, and the nutritional superiority of fishmeal. Businesses across the animal nutrition and aquaculture sectors are increasingly adopting fishmeal due to its unparalleled protein content, high digestibility, and essential nutrients that enhance animal performance.

Regulatory frameworks promoting sustainable fishing practices and responsible sourcing are influencing market dynamics positively. The rising emphasis on cost optimization and waste utilization in fish processing industries is encouraging the use of fish by-products for fishmeal production, reducing dependency on whole fish resources. Furthermore, sustainability certifications and eco-labels are becoming key differentiators for fishmeal producers seeking to enhance their market credibility.

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Key Players

COPEINCA SAC.
PESQUERA DIAMANTE
Omega Protein Corporation
Medikonda Nutrients
FF SKAGEN A/S
The Scoular Company
Oceana Group
Pelagia
Austral Group S.A.A
Shireen Exports
Blueline Foods (India) Pvt Ltd
CAMANCHACA
A & S Thai Works Co., Ltd.
Pattani Fish Meal Co., Ltd.

Competitive Landscape

The competitive landscape of the global fishmeal market is characterized by the presence of key international and regional players, each employing strategic initiatives to strengthen their market position.

COPEINCA SAC., a major Peruvian player, focuses on sustainable fishing operations and advanced processing techniques to ensure consistent supply and superior product quality. PESQUERA DIAMANTE has invested in energy-efficient technologies and traceability systems to enhance production transparency and reduce environmental impact. Omega Protein Corporation continues to expand its footprint in North America, leveraging its robust supply chain and sustainable harvesting practices.

Medikonda Nutrients and FF SKAGEN A/S are focusing on innovation and product diversification, offering specialized fishmeal blends for aquaculture and livestock feed. The Scoular Company, through strategic acquisitions and partnerships, has reinforced its presence in the global feed ingredient market. Oceana Group and Pelagia are leading European players emphasizing responsible sourcing and advanced marine resource management.

Austral Group S.A.A and CAMANCHACA are key South American contributors, focusing on expanding production capacity and developing value-added marine ingredients. In Asia, Shireen Exports, Blueline Foods (India) Pvt Ltd, and A & S Thai Works Co., Ltd. are capitalizing on the region's growing aquaculture sector, adopting advanced processing systems to meet domestic and export demand. Pattani Fish Meal Co., Ltd. continues to emphasize quality consistency and market expansion through its extensive distribution network.

Outlook

The future outlook for the global fishmeal market remains optimistic, supported by strong demand from aquaculture and livestock feed industries, advancements in production technology, and increasing emphasis on sustainability. As global protein consumption continues to rise, fishmeal will remain a crucial component in the global feed supply chain, balancing nutritional efficacy and environmental responsibility.

The adoption of digital technologies, automation, and circular economy models will shape the next phase of growth. Moreover, evolving regulatory standards and eco-certifications will further drive transparency and accountability across the fishmeal value chain. Emerging opportunities in Asia-Pacific and Latin America, along with innovations in sustainable sourcing and processing, are expected to redefine market dynamics over the coming decade.

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