Top Aquafeed Companies

Global Aquafeed Market size was valued at USD 170.30 Billion in 2023 and is poised to grow from USD 183.0 Billion in 2024 to USD 325.41 Billion by 2032, growing at a CAGR of 7.46% in the forecast period (2025-2032).

The competitive landscape of the aquafeed industry is highly competitive with major players such as Nutreco, Cargill, and Alltech dominating. These players focus on innovative feed formulation and sustainable practices to maintain their market position. Emerging players like Biomar and Skretting are gaining immense popularity through advanced research and development (R&D) and regional expansion. For instance, in February 2023, Norway-based global leader in aquafeed and nutrition, Skretting inaugurated its state-of-the-art aquafeed factory in Mangrol, Surat, Gujarat on India’s west coast. The new facility is improving its support for customers and the Indian aquaculture sector. Skretting is the global aquafeed division of Nutreco. 'Aller Aqua AS', 'Alltech Inc.', 'Archer Daniels Midland Co.', 'Avanti Feeds Ltd.', 'BRF SA', 'Cargill Inc.', 'Charoen Pokphand Foods PCL', 'Godrej and Boyce Manufacturing Co. Ltd.', 'Grand Fish Feed', 'Growel Feeds Pvt. Ltd.', 'IB Group', 'Land O Lakes Inc.', 'National Aquaculture Group', 'Nutreco N.V.', 'Olmix SA', 'Ridley Corp. Ltd.', 'Schouw and Co.', 'The Waterbase Ltd.'

Fish is low-fat than other meat forms such as cattle and poultry. Fish is a rich source of proteins and vitamins and is primarily used for direct human consumption. Fish consumption has increased due to the growing availability of various fish in the retail market. Therefore, likely to boost the demand for fish and fish products for direct human consumption in the coming years. In addition, Omega-3 fatty acids are extracted from various fish, including salmon, tuna, cod liver, whale blubber, and seal blubber.

Rapid Innovation in Feed Formulation: Innovations in feed formulation, such as precision feeding and the inclusion of functional additives, offer significant opportunities for improving the efficiency and effectiveness of aquafeeds. Precision feeding technologies allow for the accurate delivery of nutrients based on the specific needs of aquatic species, optimizing feed conversion rates and reducing waste. In addition, functional additives such as probiotics, enzymes, and vitamins can enhance the health and growth of farmed fish and other aquatic animals, improving overall productivity.

North America is dominating with the largest aquafeed market share. The aquafeed industry in North America is projected to grow significantly due to the rising seafood consumption in countries such as the U.S. and Canada. The increasing consumption of salmons and mollusks, hard clams, oysters, and mussels substantially contributes to the industry's growth. The climatic conditions in the region are suitable for the growth of various aquaculture species, such as crustaceans and catfish. Furthermore, the rising requirement for seafood due to the increasing population is anticipated to augment the development of the aquaculture industry, which is expected to drive the growth of aquafeed market.