Fish Meal Market to Hit US$ 17.8 Billion by 2033 Driven by Aquaculture Demand

The global fish meal market is entering a phase of accelerated growth, underpinned by expanding aquaculture production, rising demand for high-protein animal feed, and increasing emphasis on sustainable feed solutions. The market is expected to be valued at US$ 10.9 billion in 2026 and is projected to reach US$ 17.8 billion by 2033, reflecting a strong compound annual growth rate (CAGR) of 7.3% during the forecast period from 2026 to 2033.

Fish meal, a protein-rich feed ingredient derived primarily from wild-caught forage fish and fish processing by-products, continues to play a critical role in aquaculture, poultry, and livestock nutrition. Its superior amino acid profile, high digestibility, and essential fatty acid content make it an indispensable component in feed formulations, particularly for carnivorous fish species such as salmon and shrimp.

The primary growth driver for the fish meal market is the sustained expansion of the global aquaculture industry. With capture fisheries reaching production limits due to sustainability concerns, aquaculture has emerged as the fastest-growing food production sector. Increasing global seafood consumption, rising health awareness regarding omega-3-rich diets, and growing population levels are collectively fueling demand for aquafeed, thereby boosting fish meal consumption.

Additionally, the integration of advanced processing technologies and improved fishery management practices are enhancing production efficiency and reducing waste. Rising investments in feed innovation, coupled with growing preference for high-performance feed ingredients, are expected to further strengthen the market outlook over the forecast period.

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Segmentation Analysis

By Product Type
• Steam-Dried Fish Meal
• Flame-Dried Fish Meal
• Press-Cake Fish Meal

By End Use
• Aquaculture Feed
• Livestock
• Fertilizers
• Others

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Regional Insights

The fish meal market demonstrates strong geographic concentration, particularly in regions with access to abundant marine resources and well-developed aquaculture industries.

Latin America, led by Peru and Chile, remains one of the largest producers and exporters of fish meal globally. Favorable oceanographic conditions and established fishing industries have positioned these countries as key suppliers to Asia and Europe. Production levels in this region are closely linked to climatic patterns, including El Niño events, which can influence fish availability and pricing dynamics.

Asia Pacific is the largest consumer of fish meal, driven by the rapid expansion of aquaculture in countries such as China, India, Vietnam, Thailand, and Indonesia. China, in particular, dominates global demand due to its massive aquaculture output and feed manufacturing capacity. Rising seafood exports, domestic consumption growth, and government support for aquaculture modernization are fueling regional market expansion.

Europe maintains a stable market presence, supported by advanced aquaculture operations in Norway and Scotland, particularly in salmon farming. Stringent regulatory standards and sustainability initiatives are influencing sourcing practices and encouraging the adoption of certified fish meal products.

The Middle East and Africa are expected to register the fastest growth rate during the forecast period, albeit from a smaller base. Increasing investments in aquaculture projects, rising seafood demand, and supportive government policies aimed at improving food security are contributing to expanding fish meal consumption in these regions.

Unique Features and Innovations in the Market

Innovation is playing a transformative role in the fish meal market, particularly in response to sustainability concerns and supply volatility. Modern production processes are increasingly focused on maximizing yield, reducing emissions, and improving traceability.

Advanced monitoring technologies, including IoT-enabled sensors and AI-driven quality control systems, are being deployed to optimize fish meal processing operations. These technologies enable real-time tracking of temperature, moisture levels, and nutrient composition, ensuring consistent product quality.

Furthermore, sustainability certifications and traceability platforms are gaining importance as global buyers demand transparency in sourcing. Digital ledger systems and blockchain-based solutions are being explored to enhance supply chain visibility and verify responsible fishing practices.

Research and development efforts are also focused on improving the nutritional efficiency of fish meal and developing blended feed solutions that combine marine and plant-based proteins. These innovations aim to balance performance with sustainability, addressing concerns related to overfishing and resource depletion.

Market Highlights

The strong growth trajectory of the fish meal market is underpinned by several key factors. First, the increasing global preference for seafood as a healthy protein source is directly supporting aquaculture expansion and feed demand. Second, fish meal's superior protein digestibility and essential nutrient profile make it difficult to replace entirely in high-performance aquafeed formulations.

Regulatory frameworks promoting responsible fisheries management and sustainable aquaculture are shaping production and trade practices. Compliance with international environmental standards is becoming a competitive differentiator for producers. Additionally, the shift toward circular economy models-utilizing fish processing waste for meal production-is enhancing resource efficiency and reducing environmental impact.

Cost considerations remain critical, as fish meal prices are influenced by raw material availability and climatic variability. However, its proven performance benefits continue to justify its inclusion in premium feed formulations.

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Key Players and Competitive Landscape

• 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
• Others

Future Opportunities and Growth Prospects

The future of the fish meal market will be shaped by a combination of technological innovation, sustainability initiatives, and evolving consumer preferences. Continued growth in aquaculture production is expected to remain the primary demand driver, particularly in emerging markets.

At the same time, environmental regulations and resource management policies will influence raw material availability and production capacity. Companies that invest in by-product utilization, digital traceability, and advanced processing technologies will be better positioned to mitigate risks associated with supply fluctuations.

Emerging opportunities also lie in the development of value-added marine protein concentrates and specialized feed formulations tailored to specific species and life stages. As the global food system increasingly prioritizes efficiency, sustainability, and nutritional quality, the fish meal market is expected to maintain strong momentum through 2033.

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