Fish Meal Market Size, Share, Growth, and Industry Analysis, By Types (Fertilizers, Feed, Others) , Applications (Salmon & Trout, Marine Fish, Crustaceans, Tilapia, Others) and Regional Insights and Forecast to 2033

Fish meal market Szie

The global fish meal market was valued at USD 9,612.19 million in 2024 and is projected to reach USD 10,261.01 million in 2025, expanding to USD 17,303.47 million by 2033, with a CAGR of 6.75% during the forecast period [2025-2033].

The US fish meal market is expected to witness steady growth, driven by increasing demand for high-protein animal feed, rising aquaculture production, and advancements in sustainable fishing practices. Additionally, growing investments in fish meal alternatives and enhanced processing technologies are expected to further support market expansion.

The fish meal market plays a crucial role in global animal nutrition, primarily supplying the aquaculture, poultry, and livestock industries. Over 70% of fish meal production is used in aquafeed, making it a key component in farmed seafood diets. The market is evolving due to sustainability concerns, with alternative protein sources emerging as substitutes.

More than 60% of global fish meal production comes from Peru and Chile, with demand increasing in Asia-Pacific. The industry is also adopting innovative processing technologies, improving protein retention by over 50%. Sustainable fishery initiatives are gaining traction, with 80% of leading producers implementing responsible sourcing policies.

Fish Meal Market Trends 

The fish meal market is witnessing strong growth, driven by rising aquaculture production, which accounts for over 55% of global seafood supply. The increasing demand for high-protein feed has led to fish meal inclusion rates in aquafeed formulations ranging from 10% to 25%, depending on the species. Shrimp farming, which utilizes fish meal in over 90% of formulated diets, has significantly contributed to market expansion.

Sustainability concerns are reshaping the industry, with 30% of producers investing in alternative protein sources such as insect meal and algae. Research indicates that replacing 20% of fish meal with algae-based protein can maintain similar growth rates in farmed species. Additionally, enzymatic hydrolysis technologies have improved fish meal digestibility by over 40%, enhancing its nutritional value.

The poultry industry, which accounts for nearly 20% of fish meal consumption, is also seeing increased adoption due to its impact on feed conversion ratios. Meanwhile, the pet food sector has experienced a 25% rise in demand for fish meal-based formulations due to its omega-3 content. Governments worldwide are promoting sustainable fisheries, with regulatory frameworks affecting nearly 50% of total fish meal production.

Fish Meal Market Dynamics

DRIVER

" Growing Demand for High-Protein Aquafeed"

Over 65% of aquaculture species depend on fish meal as a primary protein source, driving market demand. Studies show that fish meal enhances feed conversion efficiency by up to 35%, significantly improving farm productivity. The Asia-Pacific region dominates the fish meal market, consuming more than 60% of global production. Countries like China, Vietnam, and India are increasing fish meal imports by over 45% annually to support their expanding aquaculture industries. Sustainable fish meal sourcing has improved, with over 70% of major producers implementing eco-friendly practices. The industry's focus on feed efficiency is leading to reduced fish meal inclusion rates by up to 20% in some formulations.

RESTRAINT

" Overfishing and Marine Resource Depletion"

Over 85% of global fish stocks are either fully exploited or overfished, threatening the fish meal supply chain. Strict fishing regulations impact nearly 50% of the industry, limiting raw material availability. Climate change and oceanic fluctuations have reduced fish catch yields by over 30%, affecting fish meal production levels. Sustainability challenges have led to a 40% increase in research on alternative protein sources to mitigate overfishing concerns. Additionally, unpredictable weather patterns, such as El Niño, have historically decreased fish meal supply by over 25%, causing significant price fluctuations. Regulatory pressures are expected to affect over 60% of future fish meal sourcing.

OPPORTUNITY

" Expansion of Alternative Protein Sources in Aquafeed"

The adoption of alternative proteins in aquafeed has surged by over 50%, reducing dependency on traditional fish meal. Insect meal, particularly from black soldier fly larvae, can replace up to 30% of fish meal without affecting growth performance. Algae-based proteins have shown over 40% efficiency in enhancing aquafeed formulations, improving sustainability. Over 35% of aquaculture feed manufacturers are investing in microbial fermentation technologies to create fish meal substitutes. Countries implementing sustainable feed policies are witnessing a 45% rise in alternative protein adoption. The shift towards innovative feed solutions is expected to reduce fish meal usage by up to 20% in coming years.

CHALLENGE

" Price Volatility and Supply Chain Disruptions"

Global fish meal prices fluctuate by over 30% annually due to supply chain instability. Climate-related disruptions, such as El Niño, have historically impacted fish meal supply by over 25%, leading to price spikes. Fuel costs, which influence transportation expenses, have risen by more than 40%, affecting profitability. Supply chain bottlenecks have caused delays in over 35% of fish meal shipments, impacting global availability. Political and regulatory changes affect nearly 50% of fish meal trade policies, influencing market stability. Industry players are adopting risk management strategies, with over 60% implementing diversified sourcing and storage solutions to mitigate disruptions.

Segmentation Analysis

The fish meal market is segmented based on type and application. By type, fish meal is classified into fertilizers, feed, and others, with feed accounting for over 80% of the total market share. Fertilizers contribute approximately 10%, while other applications, including pharmaceuticals and pet food, account for around 10%. By application, aquaculture dominates the market, with salmon & trout consuming nearly 40% of total fish meal production. Crustaceans and marine fish collectively use over 45%, while tilapia contributes around 10%. The market’s segmentation highlights the diverse applications of fish meal, with feed formulation innovations shaping demand patterns.

By Type

• Fertilizers: Fish meal fertilizers are widely used in organic farming due to their high nitrogen and phosphorus content, supporting soil fertility. This segment contributes approximately 10% of the fish meal market. Studies indicate that fish meal-based fertilizers improve crop yields by over 20%, making them a preferred choice for sustainable agriculture. North America and Europe collectively account for nearly 60% of fish meal fertilizer usage, with organic farming trends driving demand. In Asia-Pacific, fish meal-based fertilizers are experiencing a 15% rise in adoption as governments promote eco-friendly agricultural practices. The growing emphasis on sustainable farming is expected to expand this segment further.
• Feed: Fish meal is a crucial component in animal feed, constituting over 80% of total market usage. In aquaculture, fish meal inclusion in feed formulations enhances protein intake, improving growth rates by up to 35%. The poultry industry utilizes approximately 20% of total fish meal feed production, benefiting from its impact on feed conversion efficiency. Pet food applications are rising, with a 25% increase in fish meal inclusion due to its omega-3 fatty acid content. Asia-Pacific dominates the fish meal feed segment, consuming over 60% of global production. Sustainable alternatives like insect meal are projected to reduce dependency on fish meal by up to 20%.
• Others: The ""others"" category, accounting for nearly 10% of the fish meal market, includes applications in pharmaceuticals, pet food, and biofuel production. Fish meal is rich in omega-3 fatty acids, contributing to a 30% increase in its usage in dietary supplements. The pharmaceutical industry is witnessing a 20% rise in fish meal-derived products for cardiovascular health benefits. Pet food formulations incorporating fish meal have seen a 15% surge in demand due to rising consumer awareness of animal nutrition. Research into biofuel applications is ongoing, with experimental studies indicating that fish meal-based biofuels could reduce carbon emissions by over 10%.

By Application

• Salmon & Trout: Salmon and trout farming consume nearly 40% of global fish meal production due to their high dietary protein requirements. Fish meal inclusion in salmon feed enhances growth performance by over 30%, making it an essential component in commercial aquaculture. Norway, Chile, and Canada are the largest consumers in this segment, accounting for over 70% of total salmon and trout fish meal demand. Recent innovations have led to a 15% reduction in fish meal usage per unit of salmon feed through alternative protein blends. Sustainability concerns are prompting industry leaders to explore plant-based and microbial protein substitutes.
• Marine Fish: Marine fish species, such as seabass and grouper, utilize over 25% of global fish meal production. These species require high protein intake, and fish meal inclusion enhances their feed conversion ratio by up to 35%. China and Southeast Asia dominate the marine fish segment, consuming over 60% of fish meal allocated for these species. Advances in aquafeed formulations have resulted in a 10% decrease in fish meal dependency through sustainable feed solutions. Government-led initiatives promoting eco-friendly aquaculture are expected to drive further innovation, potentially reducing marine fish reliance on traditional fish meal by over 20%.
• Crustaceans: The crustacean sector, including shrimp and prawn farming, accounts for over 30% of global fish meal demand. Fish meal improves shrimp growth rates by over 40%, making it a vital feed component. Southeast Asia leads in crustacean aquaculture, utilizing over 65% of fish meal used in this segment. Sustainable aquaculture practices have led to a 20% reduction in fish meal inclusion in shrimp feed. Companies are investing in alternative feed solutions, such as insect meal and single-cell proteins, which are projected to replace up to 25% of fish meal in shrimp farming within the next decade.
• Tilapia: Tilapia farming represents nearly 10% of total fish meal consumption. Fish meal enhances tilapia feed efficiency, improving growth rates by over 25%. China and Egypt are the largest producers, accounting for over 50% of tilapia fish meal usage. Alternative protein sources, such as soybean meal, have led to a 15% reduction in fish meal dependency in tilapia farming. Ongoing research into cost-effective feed solutions is expected to reduce fish meal inclusion by up to 20%. Sustainable feed innovations and government-backed initiatives supporting low-cost protein alternatives are shaping the future of fish meal utilization in tilapia farming.
• Others: The ""others"" segment, which includes ornamental fish and specialty aquaculture species, accounts for approximately 5% of fish meal usage. Ornamental fish feed demand has risen by 20%, with fish meal inclusion supporting enhanced coloration and growth. The pet food industry, particularly in premium pet diets, has seen a 25% increase in fish meal incorporation due to its omega-3 content. Research into novel feed solutions is driving interest in fish meal derivatives for specialized diets. With sustainability concerns increasing, over 30% of aquafeed manufacturers are exploring plant-based and microbial protein alternatives to complement traditional fish meal formulations.



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Fish Meal Regional Outlook 

The fish meal market is globally distributed, with Asia-Pacific holding over 60% of total consumption. North America accounts for nearly 15%, driven by strong demand in aquaculture and pet food industries. Europe represents approximately 20% of the market, emphasizing sustainability initiatives. The Middle East & Africa region, although smaller, is experiencing a 10% rise in demand due to expanding aquaculture investments. Peru and Chile dominate global production, contributing over 50% of exports. Regional demand is influenced by climate conditions, government regulations, and sustainability initiatives aimed at reducing fish meal dependency while maintaining aquaculture efficiency.

North America 

North America accounts for approximately 15% of global fish meal consumption, with the U.S. being the dominant market. Over 70% of North America’s fish meal is imported, primarily from Peru and Chile. The pet food industry has driven a 25% increase in fish meal demand due to its omega-3 content. The region’s aquaculture sector, particularly in salmon and trout farming, consumes over 60% of its total fish meal imports. Sustainable sourcing initiatives have gained traction, with over 50% of fish meal suppliers implementing traceability programs. Regulatory measures impact nearly 40% of North America's fish meal trade, promoting sustainability efforts.

Europe 

Europe represents nearly 20% of global fish meal consumption, with Norway, Denmark, and the U.K. being the largest consumers. The salmon farming industry accounts for over 60% of European fish meal demand. Sustainability regulations have led to a 30% rise in alternative protein research. Over 50% of the fish meal used in Europe is sourced from South America. The European Union has implemented strict fishing policies, impacting over 40% of fish meal imports. Norway leads in aquaculture efficiency, reducing fish meal dependency by over 20% through advanced feed formulations. The market is witnessing a 25% shift toward sustainable fish meal alternatives.

Asia-Pacific 

Asia-Pacific dominates the fish meal market, consuming over 60% of global production. China, Vietnam, and India are the largest consumers, accounting for more than 70% of the region’s fish meal demand. The aquaculture sector drives over 80% of Asia-Pacific's fish meal consumption, particularly in shrimp and tilapia farming. The region has seen a 15% increase in sustainable aquafeed initiatives to reduce fish meal reliance. Thailand and Indonesia have expanded local fish meal production by over 20%, reducing dependency on imports. Government-led projects support alternative protein research, with over 30% of regional manufacturers exploring insect meal and algae-based substitutes.

Middle East & Africa

The Middle East & Africa region accounts for nearly 5% of global fish meal consumption but is witnessing a 10% annual increase in demand due to aquaculture expansion. Egypt leads the region, consuming over 50% of its fish meal for tilapia farming. The Gulf Cooperation Council (GCC) nations are experiencing a 20% rise in fish meal imports to support shrimp and marine fish farming. Sustainable aquaculture programs have increased by over 30%, driving investment in alternative feed sources. Local fish meal production remains limited, with over 80% of supply sourced from international markets, primarily from South America and Europe.

LIST OF KEY Fish Meal Market COMPANIES PROFILED

• Biomega AS
• Aker Biomarine Antarctic AS
• Sarma Fish S.A.R.L
• Calysta, Inc
• Oceana Group Limited
• Pioneer Fishing (Pty) Ltd
• The Scoular Company
• Novus International Inc
• Alpha Atlantique
• Austevoll Seafood ASA
• Omega Protein Corporation
• Animalfeeds International Corporation
• FMC Corporation
• Empresas Copec S.A.
• Croda International Plc

Top 2 Companies with Highest Share

• Omega Protein Corporation – Holds approximately 15% of the global fish meal market share.
• Austevoll Seafood ASA – Accounts for nearly 12% of total global fish meal production.

Investment Analysis and Opportunities 

The fish meal market is attracting significant investment due to increasing demand for sustainable aquaculture and alternative protein sources. Global investment in fish meal production has risen by over 30% in the past two years, with major players expanding processing capacities. Sustainable fish meal production projects account for nearly 40% of new investments, focusing on eco-friendly fishing practices and alternative protein development.

Governments and private entities are funding research into fish meal substitutes, with alternative protein investments rising by over 50%. Insect meal and algae-based proteins have received funding increases of over 35%, aiming to replace 20% of traditional fish meal usage in aquafeed. Technological advancements in enzymatic hydrolysis and precision fermentation have boosted efficiency by over 25%, making fish meal alternatives more cost-effective.

In Latin America, investment in fish meal processing plants has increased by over 20%, driven by rising exports to Asia-Pacific. North America has witnessed a 15% growth in investment toward sustainable fisheries and fish meal traceability solutions. Meanwhile, the European Union has allocated over 50 million USD in funding toward sustainable fishery initiatives, impacting over 60% of regional fish meal production. Investors are focusing on diversifying sourcing methods to mitigate risks associated with climate fluctuations and overfishing regulations.

New Product Development

The fish meal market is witnessing rapid innovation, with new product developments focusing on enhanced nutrition and sustainability. In the past two years, over 25% of leading manufacturers have introduced improved fish meal formulations with optimized protein retention. High-protein fish meal variants, with protein content exceeding 70%, have gained popularity in aquaculture feeds.

Alternative protein blends, incorporating insect meal and algae-based components, have seen a 20% increase in product launches. New hydrolyzed fish meal products, which improve digestibility by over 30%, are being adopted in shrimp and salmon feed formulations. Sustainable fish meal products, certified by eco-labeling organizations, have experienced a 40% rise in market adoption.

Innovations in fish meal fortification have led to 15% higher omega-3 retention in specialized feed products for marine fish. The pet food industry has also witnessed a 25% increase in fish meal-enhanced formulations, driven by demand for premium pet nutrition. Manufacturers are utilizing enzymatic treatment processes to enhance fish meal amino acid bioavailability by over 35%, improving overall feed efficiency.

Asia-Pacific has become a hub for fish meal product innovation, accounting for over 50% of new product introductions. Sustainable packaging solutions for fish meal transport have also improved shelf life by 20%, reducing spoilage and waste.

Recent Developments by Manufacturers in Fish Meal Market 

Several key developments have shaped the fish meal market in 2023 and 2024, with manufacturers focusing on sustainability and efficiency. In early 2023, Austevoll Seafood ASA expanded its fish meal production capacity by 15%, investing in new processing technology to reduce waste by 30%. Omega Protein Corporation launched a high-protein fish meal product in mid-2023, increasing protein retention by 20% for enhanced aquafeed efficiency.

In 2023, Peru’s leading fish meal producers adopted new sustainability measures, reducing bycatch by over 25% through selective fishing techniques. European manufacturers have introduced traceability programs covering over 60% of fish meal exports, ensuring compliance with sustainable sourcing standards.

In early 2024, Chinese fish meal producers announced a 10% reduction in fish meal dependency by integrating insect meal into aquafeed formulations. North America saw an 18% increase in fish meal imports due to supply chain adjustments following climate-related disruptions in Peru.

Technological advancements have improved fish meal digestibility by over 25%, with enzymatic hydrolysis becoming a standard practice among major producers. Additionally, over 30% of fish meal exporters have adopted blockchain-based tracking systems, improving transparency and supply chain efficiency. These developments highlight the market's shift towards sustainable and traceable production methods.

Report Coverage of Fish Meal Market 

The fish meal market report provides an in-depth analysis of industry trends, competitive landscape, and regional outlook, covering over 90% of global market activities. It examines the impact of sustainability initiatives on fish meal production, highlighting a 20% increase in investment in alternative protein research.

The report evaluates market segmentation by type, covering feed (over 80% of market share), fertilizers (10%), and other applications (10%). By application, aquaculture remains dominant, consuming over 70% of total fish meal production. The analysis also includes data on fish meal adoption in poultry (20%) and pet food (10%).

Regional insights focus on Asia-Pacific, which holds over 60% of global fish meal consumption, followed by Europe (20%), North America (15%), and the Middle East & Africa (5%). The report highlights key trade patterns, showing that Peru and Chile contribute over 50% of global fish meal exports.

Additionally, the report details the latest innovations in fish meal processing, including enzymatic hydrolysis, which has improved digestibility by over 30%. Sustainability trends, such as traceability initiatives covering over 60% of fish meal exports, are also analyzed. The report provides insights into future market opportunities, focusing on investment in alternative proteins, expected to reduce fish meal reliance by up to 20% in the coming years.