ID: PMRREP29164| 200 Pages | 28 Jan 2026 | Format: PDF, Excel, PPT* | Food and Beverages
The global fish meal market size is expected to be valued at US$ 10.9 billion in 2026 and projected to reach US$ 17.8 billion by 2033, growing at a CAGR of 7.3% between 2026 and 2033.
Fish meal is a concentrated animal feed ingredient obtained by processing whole fish and fish byproducts through grinding, with moisture and oil removed. The sector is primarily propelled by strong demand from livestock and aquaculture feed applications, as fish meals deliver high-quality protein along with essential vitamins and minerals. Its production typically follows a sequence of cooking, pressing, drying, and milling, using inputs such as whole fish, trimmings, and bycatch. Processing techniques vary by raw material type, with dry rendering commonly used for lean fish and wet rendering for fattier species. The final nutritional profile depends on factors such as raw material quality and fat levels, but overall, fish meal is valued for its superior digestibility and ability to enhance feed conversion efficiency in animal diets.
| Key Insights | Details |
|---|---|
| Global Fish Meal Market Size (2026E) | US$ 10.9 Bn |
| Market Value Forecast (2033F) | US$ 17.8 Bn |
| Projected Growth (CAGR 2026 to 2033) | 7.3% |
| Historical Market Growth (CAGR 2020 to 2025) | 6.4% |
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 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 offer 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 in terms of 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 players shifting towards production from fish processing by-products such as trimmings, heads, and bones rather than 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 byproducts, 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 aquaculture feed category holds approx 67% 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, the Asia Pacific has witnessed rapid aquaculture expansion, further fueling fishmeal consumption. Its high digestibility, superior amino-acid profile, and omega-3 content 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 steam-dried segment is expected to grow at a CAGR of 8.2% over the forecast period, driven by 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, thereby improving 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.
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, such as China and Norway, driven by the need for high-protein feed in their aquaculture industries. Increased global seafood consumption and sustainable aquaculture practices further boost exports. Alongside growing domestic production, this reduces reliance on imports 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 the USDA, China's seafood imports surged to 4.6 million metric tons, valued at 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 exports to China, supporting the region's aquaculture industry.
The Asia Pacific Fish Meal Market is expected to grow at a CAGR of 9.8% driven by the region's thriving aquaculture sector and rich marine resources. Key countries such as China, India, Vietnam, Thailand, and Indonesia lead the world in aquaculture production, driving 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, driven by increased farming to meet global demand, particularly from the U.S., Japan, and the 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.
The European fish meal market is growing steadily, driven by sustainability initiatives, strict regulations, and rising demand from the aquaculture and livestock sectors. Producers, supported by the European Fishmeal and Fish Oil Producers (EFFOP), generate around 600,000 tons annually using sustainable fish stocks and trimming 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, are 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.
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.
The global Fish Meal market is projected to be valued at US$ 10.9 Bn in 2026.
Superior nutritional profile and high feed efficiency are key drivers for the global Fish Meal market.
The global Fish Meal market is poised to witness a CAGR of 6.4% between 2026 and 2033.
Integration of Fish Meal into hybrid blends with complementary plant proteins to enhance amino acid profiles is a key 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.
| Report Attribute | Details |
|---|---|
| Historical Data/Actuals | 2020 - 2025 |
| Forecast Period | 2026 - 2033 |
| Market Analysi | Value: US$ Bn, Volume: Tons |
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