Fish Feed Market – Global Industry Size, Share, Trends, Opportunity, & Forecast, Segmented By Product (Plant Based, Fish & Fish Products, Microorganism), By Form (Pellet, Granules, Flakes, Sticks, Powder), By Distribution Channel (Retail Stores, Store Based, Online Retail), By Region, Competition, 2020-2030F

Market Overview

The Global Fish Feed Market, valued at USD 107.46 Billion in 2024, is projected to experience a CAGR of 9.07% to reach USD 180.92 Billion by 2030. Fish feed constitutes a specialized nutritional formulation designed to meet the dietary requirements of farmed aquatic animals, ensuring optimal growth, health, and efficient feed conversion. The market's expansion is primarily driven by the escalating global demand for seafood, fueled by population growth and increasing per capita consumption worldwide. Additionally, ongoing advancements in aquaculture technology and refined feed formulations significantly contribute to this growth by enhancing production efficiency and sustainability.

One notable challenge impeding market expansion is the volatility of raw material prices, particularly for marine-derived ingredients such as fishmeal and fish oil, alongside increasing environmental scrutiny regarding their sourcing. According to the Alltech Agri-Food Outlook 2024, in 2023, the global aquaculture sector experienced a 4.43% decrease in feed tonnage, totaling 52.09 million metric tons, reflecting the impact of various market pressures.

Key Market Drivers

The global fish feed market is primarily propelled by expanding global aquaculture production and rising worldwide seafood consumption. Aquaculture now serves as the foremost source of aquatic animal protein, crucial for meeting global food needs. According to the FAO's "The State of World Fisheries and Aquaculture 2024" report, global aquaculture production reached an unprecedented 130.9 million tonnes in 2022, surpassing capture fisheries for the first time. This significant growth in farmed aquatic animals directly fuels demand for specialized aquafeed, essential for optimizing growth and feed conversion efficiency. Concurrently, increasing global seafood consumption reinforces the need for expanded production. The same FAO report indicates that global per capita annual consumption of aquatic animal foods consistently rose, reaching 20.7 kg in 2022. This rising consumer preference for healthy seafood protein, driven by dietary awareness, places continuous pressure on the aquaculture industry, stimulating feed demand.

These foundational drivers underscore the necessity for innovation within the fish feed industry, particularly in supporting more efficient aquaculture operations. As the sector increasingly adopts advanced practices, the requirement for precisely formulated and high-performing feeds intensifies. This is reflected in the market for critical feed components; according to IFFO – The Marine Ingredients Organisation, in the first nine months of 2024, cumulative fishmeal production increased by almost 23% compared to the same period in 2023, largely driven by recovery in Peruvian landings. Such developments are vital for sustaining global aquaculture expansion and ensuring a consistent seafood supply worldwide.

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Key Market Challenges

The volatility of raw material prices presents a notable challenge hampering the growth of the Global Fish Feed Market. The market relies heavily on marine-derived ingredients like fishmeal and fish oil, whose supply is susceptible to environmental factors and unpredictable fishing yields. According to the International Fishmeal and Fish Oil Organization (IFFO), global fishmeal production experienced a 23% decrease in 2023 compared to 2022, largely attributed to the El Niño phenomenon affecting key producing regions. This reduction in available raw materials directly impacts the stability and cost-effectiveness of feed production.

This unstable supply environment directly contributes to elevated and fluctuating market prices for these essential feed components. For example, fishmeal prices reached USD 2,200 per tonne in October 2023, an increase from USD 1,900 per tonne in October 2022, as reported by the Food and Agriculture Organization (FAO). Similarly, feed-grade fish oil prices remained elevated, reaching USD 7,500 per tonne in September 2023. Such substantial price increases raise production costs for feed manufacturers, which are then typically transferred to aquaculture farmers, subsequently increasing their operational expenses and constraining the overall growth of the aquaculture sector.

Key Market Trends

The integration of sustainable alternative proteins and lipids into aquafeed formulations represents a critical trend. This shift is driven by the increasing need to reduce reliance on marine-derived ingredients, which face supply constraints and environmental concerns. According to Alltech's 2025 Agri-Food Outlook, global aquafeed production experienced a slight decline of 1.1% in 2024, reaching 52.966 million metric tons, continuing a downward trend from the previous year. This decline underscores the urgency for robust, sustainable alternatives. In May 2024, Goterra partnered with Skretting Australia to validate the incorporation of Australian insect protein into aquaculture feeds, highlighting industry efforts to develop novel, environmentally sound ingredients. The long-term market growth depends on the successful scaling and cost-effectiveness of these innovative protein and lipid sources.

Precision nutrition and smart feeding systems are significantly transforming the global fish feed market by optimizing resource utilization and improving aquaculture efficiency. These advanced technologies leverage data analytics to customize feed delivery based on species, life stage, and environmental conditions, thereby minimizing waste and enhancing growth. According to the Alltech Agri-Food Outlook 2024, the overall lower demand for feed in 2023 was partly attributed to the more efficient use of feed enabled by intensive production systems that incorporate animal nutrition and farm management technologies to achieve consistent or increased protein output with reduced feed intake. In 2023, AKVA Group launched an AI-driven feeding system which reduced feed waste by 25% and improved fish growth rates, demonstrating the tangible benefits of these intelligent solutions. This trend enhances operational sustainability and economic viability for aquaculture producers worldwide.

Segmental Insights

The Fish & Fish Products segment represents the fastest-growing category within the Global Fish Feed Market, a trend significantly influenced by its indispensable contribution to aquaculture. This rapid growth stems from the substantial demand for fish meal and fish oil, which are crucial high-protein ingredients and primary sources of essential omega-3 fatty acids vital for optimal aquatic animal health and development. The increasing global appetite for seafood, coupled with the continued expansion of aquaculture production to satisfy this demand, intensifies the requirement for these nutritionally rich feed components. Furthermore, the limited viable substitutes for these specific nutrients solidifies the segment's growth, with industry focus on efficient utilization, consistent with guidance from bodies like the Food and Agriculture Organization (FAO) on sustainable practices.

Regional Insights

Asia Pacific stands as the leading region in the global fish feed market, primarily driven by its unparalleled aquaculture production volume. Countries within this region, notably China, India, and Vietnam, are major cultivators of farmed fish and seafood, necessitating substantial quantities of specialized feeds to support extensive operations. The dominance is further fueled by significant domestic seafood consumption across numerous Asian economies, where fish is a staple and dietary shifts favor protein-rich options. Additionally, robust government support for the aquaculture sector through various initiatives and favorable regulations encourages sustainable fish farming practices. This comprehensive ecosystem of high production, strong consumer demand, and supportive policies establishes Asia Pacific's prominent position in the global fish feed market.

Recent Developments

• In September 2025, a large-scale Swedish initiative led by Axfoundation and the Swedish University of Agricultural Sciences (SLU), along with 25 partners, achieved a breakthrough in circular feed development. They successfully replaced soy and fishmeal in fish feed with a combination of mycoprotein, mussels, and insects, all raised on residues from Swedish industries. This innovative feed drastically reduces the climate footprint and land use associated with conventional feed production. The project resulted in the world's first fish, specifically rainbow trout, being available to consumers after being raised on feed containing mycoprotein, showcasing a sustainable alternative for the global fish feed market.

• In February 2025, Insectika Biotech, an Indo-Israel technology firm specializing in insect farming, launched an innovative insect protein-based fish feed in Odisha. Developed in collaboration with the Central Institute of Brackishwater Aquaculture (CIBA), the new feed specifically targets Asian sea bass and various aquarium species. This product, including 'Yum Pro' for Asian sea bass and 'YuM TuM' for aquarium fish, addresses the challenge of increasing fishmeal costs and unsustainable fishing practices. The introduction of these feeds is intended to ensure a consistent supply of sustainable proteins for the aquaculture industry, mitigating ecological degradation.

• In December 2024, BioMar, a global leader in sustainable aquaculture feeds, introduced SmartCare Endurance, a new feed solution designed to enhance fish health and resilience. This innovative product helps farmed fish withstand challenging conditions, such as disease outbreaks and environmental stressors, which often lead to increased mortality rates. Through extensive research and trials spanning over a decade, the company developed a unique blend of antioxidants, vitamins, and minerals. Fish fed with SmartCare Endurance demonstrated improved disease resistance, showing significantly higher survival rates and quicker recovery from stress events.

• In June 2024, a significant collaboration in the Finnish aquaculture industry involved Kalavapriikki, Kalankasvatus Vääräniemi, Alltech Fennoaqua, and Volare. These four companies partnered to introduce a trial batch of rainbow trout fed with an insect-based ingredient to the Finnish market. This initiative aimed to partially replace traditional feed ingredients with sustainable insect meal, which contributes to reducing the environmental impact associated with the rainbow trout value chain. Volare supplied the insect meal, Alltech Fennoaqua manufactured the feed, Kalankasvatus Vääräniemi farmed the trout, and Kalavapriikki handled distribution, demonstrating a value chain approach to sustainable fish feed.

Key Market Players

• Cargill Inc.
• Zeigler Bros., Inc.
• Archer Daniels Midlands Company
• Altech Inc
• Skretting AS
• Aller Aqua A/S
• Sonac B.V.
• BioMar Group
• Nutreco N.V.
• Biomin Holding GmbH

Report Scope:

In this report, the Global Fish Feed Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Fish Feed Market, By Product:

o   Plant Based

o   Fish & Fish Products

o   Microorganism

• Fish Feed Market, By Form:

o   Pellet

o   Granules

o   Flakes

o   Sticks

o   Powder

• Fish Feed Market, By Distribution Channel:

o   Retail Stores

o   Store Based

o   Online Retail

• Fish Feed Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Global Fish Feed Market.

Available Customizations:

Global Fish Feed Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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