USD 9.5 billion
Report ID:
SQMIG30I2499 |
Region:
Global |
Published Date: June, 2025
Pages:
197
|Tables:
121
|Figures:
72
Global Fishmeal Market size was valued at USD 9.5 billion in 2023 and is poised to grow from USD 10.17 billion in 2024 to USD 17.61 billion by 2032, growing at a CAGR of 7.1% during the forecast period (2025-2032).
The global fishmeal market growth is being driven by evolving consumer preferences, rising demand for sustainable aquafeed, and technological developments in fishmeal processing. The various governments across regions are supporting sustainable fisheries and circular economy practices which further enhance the market outlook. Key economies are also promoting investments in fishmeal production to strengthen their regional forecast in the aquaculture and animal nutrition sectors.
For instance, Peru a leading contributor to the global fishmeal market, has expanded its investment into sustainable fishing and processing practices as part of its national fisheries policy. To ensure high quality output, the nation is putting in place more stringent fishing quotas, modernized traceability systems and updated production facilities that use AI and IoT. Through 2025 partnerships between public and private entities such as TASA and CFG Copeinca are speeding up advancements in environmentally friendly fishmeal production. These programs are essential to Peru in larger attempts to increase market share while preserving the environment.
A major global fishmeal industry trend is the adoption of sensor-based technologies and machine learning to maximize feed conversion ratios and boost yield. As 5G connectivity and smart monitoring systems continue to proliferate in aquaculture, producers will be able to use real time data to optimize feed efficiency and logistics, which will significantly increase market efficiency by 2024. Furthermore, solar powered and energy efficient drying systems are being used to lower carbon footprints which supports market of operational savings as well as market sustainability.
Why Is AI Integration Essential to Produce Next Gen Fishmeal?
By improving productivity, sustainability and product quality throughout the value chain, artificial intelligence (AI) is completely changing the market outlook. AI enabled fishmeal production systems now optimize processing, cut waste and increase yield by using data from real time sensors, weather, catch volume and raw material quality. Producer global fishmeal strategies are being drastically changed by this degree of accuracy and cost-effective operations are increasing revenue.
Market snapshot - 2025-2032
Global Market Size
USD 9.5 billion
Largest Segment
fertilizer application
Fastest Growth
fertilizer application
Growth Rate
7.1% CAGR
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Global Fishmeal Market is segmented by Source, Livestock, Application and region. Based on Source, the market is segmented into Salmon & Trout, Marine Fish, Carps, Crustaceans, Tilapia and Others. Based on Livestock, the market is segmented into Ruminants, Poultry, Swine, Aquatic Animals, Pets and Others. Based on Application, the market is segmented into Fertilizers, Animal Feed and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
As per global fishmeal market analysis, by offering a concentrated source of protein, omega 3 fatty acids and essential amino acids all of which are critical for the best possible fish growth, immunity, and feed efficiency it plays a crucial role in aquaculture. Because of these qualities fishmeal is essential to fish farms especially in Asia Pacific where aquaculture is expanding quickly to satisfy the rising demand for seafood. Aquaculture feed holds a dominant position in the global fishmeal market due to its strong and increasing reliance.
On the other hand, the sector with the fastest rate of growth is fertilizer application. Fishmeal has become more and more well liked as a natural soil enhancer that is rich in phosphorus and nitrogen due to the growing emphasis on organic farming and sustainable agriculture. This global fishmeal market trend is particularly apparent in North America and some areas of Europe where consumer preferences and environmental regulations are driving upward demand for slow release and environmentally friendly fertilizers.
The global fishmeal industry dynamics are significantly shaped by the source. Due to its high protein yield and consistent nutrient profile, whole fish continues to be the most popular input among the others. Small pelagic fishlike anchovies have long been used to produce high quality fishmeal in nations with thriving fishing industries such as Peru and Chile strengthening the market dominance of whole fish. Whole fish have a competitive advantage in international trade and aquaculture feed formulations due to their consistent quality and supply.
On the other hand, fish by products are the source which is expanding the fastest and are becoming more well known as waste reduction, the circular economy and sustainability become more important. Manufacturers transform waste into useful inputs to produce fishmeal by using fish heads, bones and offcuts from processing facilities. In addition to reducing the cost of raw materials, this change complies with environmental laws and sustainable sourcing rules particularly in markets in Europe and Asia.
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The strong aquaculture sector, ideal climate and strong demand for protein rich feed in nations like China, Vietnam and India caused Asia Pacific to dominate the market with a market share of over 42% in 2024 according to the fishmeal market regional forecast for the global. The presence of important fishmeal producers and government support for fisheries further solidify the Asia Pacific lead. In 2025, the Vietnamese government increased subsidies for sustainable aquaculture practices which hastened the adoption of fishmeal derived from whole fish and their byproducts.
China continues to be the world's biggest importer and consumer of fishmeal. The country’s extensive aquaculture base, growing seafood consumption and growing feed production capacity are driving the growth. Advanced processing techniques are being used more often by Chinese feed producers to enhance nutritional results and lessen their negative effects on the environment.
India's booming shrimp farming industry and growing demand from the poultry and livestock sectors are driving the country's market expansion. Gujarat and Kerala two coastal states have become important centers of regional production. With the help of the Marine Products Export Development Authority (MPEDA) and advancements in cold chain logistics India saw a notable increase in fishmeal exports in 2025 particularly to Southeast Asia.
The fishmeal market grows at the fastest rate in North America. This growth has been fueled by the growing use of fishmeal in aquaculture livestock and pet food applications as well as a growing interest in high protein sustainable feed substitutes. As end users place a higher priority on quality and traceability in animal nutrition, demand is predicted to soar.
The U.S. is driving much of this momentum with its expanding aquafeed and pet nutrition sectors. In 2024 leading feed producers integrated fishmeal sourced from byproducts into premium pet food formulations, aligning with consumer preference for natural high protein diets for pets. Furthermore, aquaculture operations particularly in inland salmon and tilapia farms are shifting toward nutrient dense fishmeal to optimize feed conversion ratios.
Canada fishmeal market is expanding steadily, especially in provinces like British Columbia and Nova Scotia where the aquaculture industry is growing. In 2025, the Canadian government introduced a Marine Waste Recovery Program, promoting fish byproduct utilization for fishmeal production. Several mid sized players have begun upgrading processing facilities to meet export standards, targeting the U.S. and European markets.
Europe represents a well-established yet rapidly evolving segment of the global fishmeal market, where innovation, sustainability, and regulatory compliance go hand in hand. The region is investing in ecofriendly processing, alternative feed strategies, and marine waste recovery systems to boost fishmeal yield while minimizing environmental impact. In 2025, leading companies emphasized low emission production units and biotech-based processing methods. This dual approach facilitates smoother intra EU trade where traceability and environmental credentials are key to gaining global fishmeal market penetration.
In 2024, the UK expanded its sustainable aquafeed programs in Scotland and coastal regions by incorporating fishmeal from certified byproducts. This not only reduced raw material waste but also aligned with the country ambitious Zero Waste Aquaculture Strategy. Large scale salmon farms, supported by government backed R&D began using enhanced protein fishmeal blends to boost growth performance in a more environmentally responsible manner.
Modern biotechnology and marine innovation are still being incorporated into fishmeal production in France. To speed up byproduct collection for fishmeal use the government promoted a pilot project in 2024 utilizing AI driven waste sorting systems at fishing ports. Contextual processing facilities that modify protein composition according to raw material availability have increased in France in response to the growing demand from inland trout farms.
Germany is a frontrunner in data backed sustainability in fishmeal operations. In 2025, major processors rolled out automated analytics platforms to monitor raw material sourcing, production emissions and nutritional consistency. These efforts were tied to Berlin and Hamburg broader Sustainable Blue Growth Strategy. Additionally, Germany began testing AI assisted batch formulation systems to tailor fishmeal content for specific aquaculture species.
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Processing Technological Advancements
Growing Interest in Natural and Organic Feed Products
Supply Chain Interruptions and Price Volatility
Growing Adoption of Alternatives
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The need to guarantee sustainable sourcing, enhance product quality and broaden global reach has fueled fierce competition amongst regional and international players in the fishmeal market. To obtain a competitive edge in yield and retention of nutrients the businesses are investing in cutting edge processing technologies like low temperature drying and enzyme assisted extraction.
Vertical integration and joint ventures with aquaculture companies are increasingly common strategies to secure raw material access and boost market presence with fisheries. The landscape is also being shaped by mergers and acquisitions which enable big players to diversify their protein offerings and increase their geographic reach.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global fishmeal market is expanding significantly due to the increasing demand for high protein, sustainable feed in the livestock and aquaculture industries. Technological advancements like low temperature drying and enzyme assisted extraction are enhancing product quality while reducing their adverse environmental effects, in keeping with shifting global market trends. Positive regional outlook is being bolstered by the growing demand for natural and organic feed, which is also expanding market in North America and Asia Pacific. Market stability is threatened by issues like price volatility, shortages of raw materials and the emergence of substitute proteins. According to recent industry analysis, the adoption of circular economy models and investments in waste to feed processing are helping to mitigate these risks. Overall, the fishmeal sector shows a robust market forecast, with companies focusing on innovation and sustainability to strengthen their market share and long-term profitability in a competitive landscape.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 9.5 billion |
Market size value in 2032 | USD 17.61 billion |
Growth Rate | 7.1% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Fishmeal Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Fishmeal Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Fishmeal Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Fishmeal Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Global Fishmeal Market size was valued at USD 9.50 billion in 2023 and is poised to grow from USD 10.18 billion in 2024 to USD 17.91 billion by 2032, growing at a CAGR of 7.3% during the forecast period (2025-2032).
The need to guarantee sustainable sourcing, enhance product quality and broaden global reach has fueled fierce competition amongst regional and international players in the fishmeal market. To obtain a competitive edge in yield and retention of nutrients the businesses are investing in cutting edge processing technologies like low temperature drying and enzyme assisted extraction. 'FF Skagen', 'The Scoular Company', 'Omega Protein Corporation', 'Oceana Group Limited', 'Pelagia', 'Pesquera Diamante SA', 'Pesquera Exalmar S.A.A', 'Austral Group S.A.A', 'Copeinca', 'Triplenine Group A/S', 'Havsbrun', 'Hayduk ', 'Exalmar', 'Strel Nikova ', 'Nissui'
Fishmeal production innovations are transforming the industry sustainability and efficiency. Batching and automation powered by AI Now, real time monitoring and optimization of processing parameters like temperature, pressure and moisture is possible thanks to AI and IoT enabled sensors. Lower energy consumption and consistent quality are the outcomes of this. Advanced dryers and low temperature drying methods reduce carbon emissions while preserving more nutritional integrity particularly omega 3 fatty acids.
Growing Use of Models for the Circular Economy: By using by products from the fish processing industries, more fishmeal producers are embracing the circular economy principles with sustainability as their top priority. This trend promotes more stable input costs while also reducing waste from raw materials. To produce fishmeal more sustainably and with less reliance on wild catch quotas nations such as Iceland, Norway and Peru are increasingly using fish trimmings and by catch. Retailers and end users who want to align their supply chains with ethical sourcing are also adopting this strategy.
Why Does Asia Pacific Lead the Global Fishmeal Market?
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Report ID: SQMIG30I2499
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