Comprehensive Snapshot of Fishmeal Market Research Report, Including Regional and Country Analysis in Brief.
Industry: Food and Beverages
Published Date: May-2025
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 190
Report ID: PMRREP29164
The global fishmeal market size is projected to increase from US$ 10.7 billion in 2025 to US$ 17.6 billion in 2032, reflecting an impressive CAGR of 7.4% by 2032. Fish meal is a nutrient-rich feed produced by grinding fish and their byproducts while removing water and oil. According to the Persistence Market Research report, the industry is driven by the use of fishmeal for livestock and farmed fish feeds due to its high protein, vitamins, and minerals. The production involves cooking, pressing, drying, and grinding various raw materials such as whole fish and bycatch. Manufacturing methods include dry rendering for lean fish and wet rendering for fatty fish. Fish meal's nutritional composition, which varies based on raw material quality and fat content, makes it a valuable feed supplement, ensuring high digestibility and feed efficiency.
Key Industry Highlights
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Global Market Attribute |
Key Insights |
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Fishmeal Market Size (2025E) |
US$ 10.7 Bn |
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Market Value Forecast (2032F) |
US$ 17.6 Bn |
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Projected Growth (CAGR 2025 to 2032) |
7.4% |
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Historical Market Growth (CAGR 2019 to 2024) |
6.3% |
Fishmeal is a highly nutritious feed ingredient, rich in essential omega-3 fatty acids (EPA & DHA), high-quality proteins, and vital minerals such as calcium and phosphorus. These nutrients enhance animal growth, immunity, and overall health, making fishmeal a preferred choice in aquaculture, poultry, and livestock feed. Its superior digestibility and balanced amino acid profile improve feed conversion efficiency (FCR), reducing feed requirements while maximizing weight gain. This efficiency lowers production costs and increases yield, driving global fishmeal demand amid rising protein needs.
With a protein content exceeding 65% and digestibility over 90%, fishmeal outperforms plant-based proteins in supporting muscle development and nutrient absorption. B-complex vitamins and vitamin D aid metabolism, while selenium enhances enzymatic processes. Omega-3 fatty acids boost immunity, reproductive efficiency, and disease resistance in livestock. These attributes improve productivity and fertility, making fishmeal indispensable in aquaculture, poultry, and cattle nutrition industries worldwide.
The rise of synthetic and fermented protein alternatives is putting pressure on the fishmeal market. Advances in lab-grown proteins, microbial fermentation, algae-based meals, and insect-derived feeds are offering sustainable, cost-effective, and nutritionally rich substitutes. These alternatives reduce dependency on wild-caught fish, promoting environmental sustainability and supply chain stability.
As the aquaculture and livestock industries increasingly adopt these alternative protein sources, the demand for traditional fishmeal is declining. This shift not only helps preserve marine ecosystems but also challenges fishmeal producers to stay competitive for price and innovation. With growing investments in alternative proteins, the fishmeal industry faces a critical need to adapt to changing market dynamics or risk losing relevance in a rapidly evolving feed landscape.
The industry is benefiting from a growing emphasis on sustainability, with industry players shifting towards production from fish processing by-products like trimmings, heads, and bones instead of whole fish. This approach minimizes environmental impact, enhances resource efficiency, and aligns with global sustainability initiatives. Advances in processing technology further improve the nutritional quality of fishmeal from by-products, making it a viable alternative to traditional sources. As governments and industries promote circular economy practices, sustainable fishmeal production is gaining traction.
In 2024, the industry achieved significant advancements, with 34% of global fishmeal and 53% of fish oil production sourced from by-products in 2022, according to the FAO. The IFFO also reported a 26% increase in fishmeal production in 2024, driven by improved utilization of by-products. This transition reduces waste, decreases reliance on whole fish, and promotes sustainable growth, underscoring the industry's commitment to responsible resource management.
The steam-dried segment is expected to grow at a CAGR of 7.9% during the forecast period due to its superior nutritional profile, extended shelf life, and enhanced digestibility. The steam-drying process preserves essential amino acids, proteins, and omega-3 fatty acids, making it highly effective for aquaculture, poultry, and livestock feed. This method minimizes nutrient loss, ensuring a higher feed conversion ratio (FCR) that supports optimal growth rates in farmed fish and animals.
Steam-dried fishmeal, favored by large-scale feed manufacturers, has low moisture content that reduces spoilage risks. It retains essential nutrients better than flame-drying, leading to improved feeding efficiency. According to IFFO, it maintains high protein levels (60%-72%) and is rich in amino acids, omega-3 fatty acids, vitamins, and minerals, promoting animal growth and health. This makes it a premium feed ingredient in aquaculture and livestock industries.
Aquaculture feed category holds the highest market share in the fishmeal industry, as species such as salmon, tilapia, and shrimp require high-protein, nutrient-rich diets for optimal growth, immunity, and survival. Led by China, India, and Vietnam, Asia Pacific has witnessed rapid aquaculture expansion further fueling fishmeal consumption. Its high digestibility, superior amino-acid profile, and omega-3 content to enhance feed efficiency, maximizing yield and profitability for farmers.
According to the Global Seafood Alliance, in 2024, the demand for fishmeal remained strong in aquaculture, particularly for salmon, tilapia, and shrimp farming. Norway’s salmon production rose by 2%, tilapia output reached 7 million metric tons (a 5% increase), and shrimp farming faced El Niño-related challenges but showed signs of recovery. These trends underscore fishmeal’s vital role in sustaining global fish farming, ensuring optimal growth, profitability, and industry sustainability.
The European fish meal market is growing steadily, driven by sustainability initiatives, strict regulations, and rising demand from aquaculture and livestock sectors. Producers, supported by the European Fishmeal and Fish Oil Producers (EFFOP), generate around 600,000 tonnes annually using sustainable fish stocks and trimmings about 40% of raw materials reducing waste and promoting marine resource efficiency. Adherence to certifications like MarinTrust and MSC ensures eco-friendly practices.
Fish meal, rich in protein and omega-3 fatty acids, is vital for aquaculture, the primary consumer, as well as pig and poultry feed. With Europe’s focus on low-carbon feed solutions and increasing global seafood demand, the market is poised for sustainable growth and long-term resilience.
Asia Pacific dominates the global fishmeal industry, driven by its thriving aquaculture sector and rich marine resources. Key countries such as China, India, Vietnam, Thailand, and Indonesia lead in aquaculture production, creating strong demand for fishmeal as a protein-rich feed ingredient. Rising seafood consumption, fueled by a growing middle class, further accelerates this demand. The region’s long coastlines and marine biodiversity support both capture fisheries and by-product processing for fishmeal.
According to the VietShrimp Aquaculture International Fair, in 2024, Vietnam’s shrimp exports exceeded USD 4 billion, with increased farming to meet global demand, especially from the U.S., Japan, and EU. This expansion boosted domestic use of fishmeal-based aquafeed and spurred fishmeal imports from South America to support high-protein diets essential for shrimp farming.
North America's fishmeal market is expanding due to the rising exports and domestic production. The U.S. and Canada are increasing exports to high-demand regions like China and Norway, driven by their aquaculture industries' need for high-protein feed. Increased global seafood consumption and sustainable aquaculture practices further boost exports. Alongside growing domestic production, this reduces import reliance and supports local aquaculture, livestock, and pet food sectors. Investments in processing technologies and sustainable sourcing enhance the competitiveness of North American fish meal.
In 2024, According to USDA, China's seafood imports surged to 4.6 million metric tons, with a value of US$18.8 billion, driven by higher demand for fresh and frozen fish, crustaceans, and mollusks. This growing demand presents a promising opportunity for North American fish meal producers to expand their exports to China, supporting the aquaculture industry in the region.
The global fishmeal market is highly competitive, with major players focusing on product quality, sustainability, and global expansion to maintain their market share. Leading companies dominate the industry through integrated supply chains, mergers & acquisitions, collaboration, and strategic partnerships. Increasing pressure from alternative protein sources has driven traditional producers to innovate and improve efficiency.
These companies are also emphasizing certifications such as the Marine Stewardship Council (MSC) and IFFO RS to enhance their market position. Additionally, regional players are emerging by leveraging local fish resources and cost advantages. As market dynamics evolve, the competition is intensifying prompting both global and local companies to differentiate themselves through innovation, sustainability, and value-added offerings.
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Report Attribute |
Details |
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Historical Data/Actuals |
2019 - 2024 |
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Forecast Period |
2025 - 2032 |
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Market Analysis Units |
Value: US$ Bn, Volume: Tons |
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Geographical Coverage |
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Segmental Coverage |
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Competitive Analysis |
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Report Highlights |
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Customization and Pricing |
Available upon request |
By Product type
By End-use
By Region
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The global fishmeal industry is projected to be valued at 10.7 bn in 2025.
The global fishmeal market is driven by a superior nutritional profile and high feed efficiency, fuelling fishmeal market growth.
The global fishmeal industry is poised to witness a CAGR of 7.4% from 2025 to 2032.
Expansion of sustainable and by-product-based fishmeal production flourishes the market, is the key market opportunity.
Major players in the global fishmeal market include The Scoular Company, Omega Protein Corporation, COPEINCA SAC., Oceana Group, PESQUERA DIAMANTE, Omega Protein Corporation, and others.
