Global Fish Meal Industry Outlook to 2036: Strategic Insights for R&D, Expansion, and Market Development

The global fish meal market is projected to reach USD 46.62 billion in 2025, with steady growth at a CAGR of 4.4%, ultimately reaching USD 71.71 billion by 2035. Growth is primarily driven by increasing demand from the aquaculture industry, which remains the dominant application segment, accounting for 50% of total market consumption.

Wild-caught fish continues to be the backbone of production, holding a 40% share in 2025, as species like anchovies, menhaden, capelin, and sardines remain preferred raw materials due to their high protein content, omega-3 levels, and superior amino acid profiles.

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The Asia-Pacific region, led by China, is emerging as a key growth driver, with a projected CAGR of 6.3% from 2025 to 2035. Rising seafood consumption and adoption of high-performance feed formulations for farmed species, such as shrimp, tilapia, and hybrid bass, underpin the regional expansion. Meanwhile, Norway and Japan maintain strong market presence, contributing to innovations in fish meal formulations tailored for salmon and tuna, respectively.

Market Drivers and Trends

• Aquaculture Dominance: Fish meal is the cornerstone of high-protein aquafeeds, critical for growth, feed conversion efficiency, and disease resistance in farmed seafood. Around 70% of global fish meal production is consumed by the aquaculture sector.
• Shift to Sustainable Sources: Companies are increasingly using fish by-products, less-desired marine species like krill and mesopelagic fish, and alternative proteins to reduce waste and ensure a steady supply.
• Enzyme-Treated Fish Meal: Enhances digestibility and nutrient absorption, improving farmed species' growth rates and health while aligning with environmental management regulations.
• High-Performance Livestock Diets: Fish meal is gaining traction in poultry and swine nutrition for its ideal amino acid profile, promoting gut health and faster growth in piglets and broiler chickens.

Semi-annual market updates reveal nuanced growth patterns, with H1 2025 CAGR at 4.2% and H2 2025 at 4.8%, reflecting fluctuations in production, stock recovery, and regional aquaculture demand. Notably, IFFO data highlighted a 26% increase in global fish meal production in 2024, largely due to a strong anchovy season in Peru, reinforcing the market's resilience.

Species Segment Analysis: Wild-Caught Fish Leads Production

Wild-caught fish supplies over 65% of total fish meal, with leading regions including Peru, Chile, and the North Atlantic. This segment remains preferred for its superior protein yield and omega-3 content. Despite rising interest in alternative proteins, wild-caught fish maintains an edge in digestibility and feed conversion efficiency (FCR), making it indispensable for premium aquaculture feeds.

Regional Insights

• China: Customized fish meal formulations for high-value aquaculture species, integrating probiotics and marine peptides to boost immune response and disease resistance.
• Norway: Hybrid fish meal with precision-fermented proteins enhances feed conversion ratios in salmon farming and supports low-carbon aquaculture goals.
• Japan: Ultra-purified fish meal with low ash and controlled fatty acids caters to premium tuna farming, focusing on oxidation prevention and high-value marine peptides.

Market Competition

The global fish meal market features a moderate concentration, dominated by multinationals like Cargill, Archer Daniels Midland (ADM), and Bunge, supported by robust supply chains and sustainable sourcing practices. Second-tier players such as TASA and Omega Protein Corporation operate regionally, while niche producers including Pesquera Diamante, Skretting, and Biomar Group focus on specialty or sustainable fish meals for aquaculture and livestock applications.

Recent Industry Updates

• Austevoll Seafood ASA reported a 17% revenue increase in Q1 2025, with feed-grade fish oil at USD 2,550/MT and Omega-3 oil at USD 3,375/MT.
• TASA reported a 2024 production increase of 265,817 metric tons, benefiting from improved oceanographic conditions and anchovy stock recovery in Peru.

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Browse Related Insights

USA Fish Meal Market: https://www.futuremarketinsights.com/reports/united-states-fish-meal-market

UK Fish Meal Market: https://www.futuremarketinsights.com/reports/united-kingdom-fish-meal-market

Fishmeal And Fish Oil Market: https://www.futuremarketinsights.com/reports/fishmeal-and-fish-oil-market

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