Fishmeal Global Market Report 2025

Fishmeal used as animal feed, aquafeed, livestock feed supplement, and fertilizer is valued for its high protein concentration, as well as its content of vitamins and minerals. This coarsely ground powder is primarily derived from small leftover pelagic or oceanic fish, including bones and organ flesh, which are pulverized into a meal. The resulting fishmeal is obtained in cake or powder form through the drying and milling of raw or trimmed fish.

The primary types of livestock benefiting from fishmeal include ruminants, poultry, swine, aquatic animals, and other livestock. Fishmeal is also utilized as fertilizer in various settings, such as vegetable gardens, flowerbeds, outdoor plants, trees, and shrubs. Fishmeal-based fertilizers are rich in nutrition, amino acids, and vitamins, serving as an excellent source of nitrogen and phosphorus to enhance root and leaf growth and improve soil structure. Different sources of fishmeal include salmon and trout, marine fish, carp, crustaceans, tilapia, and others, and these sources find applications in fertilizers, animal feed, and various other industries.

The fishmeal market research report is one of a series of new reports from The Business Research Company that provides Fishmeal market statistics, including fishmeal industry global market size, regional shares, competitors with fishmeal market share, detailed Fishmeal market segments, market trends, and opportunities, and any further data you may need to thrive in the fishmeal industry. This fishmeal market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The fishmeal market size has grown strongly in recent years. It will grow from $8.88 billion in 2024 to $9.42 billion in 2025 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to increased global demand for aquaculture and animal feed, growth in the livestock and poultry industries, rise in awareness of the nutritional benefits of fishmeal, expansion of commercial fishing and processing activities, need for high-protein and nutrient-rich animal feeds, demand for fishmeal in pet food and specialty feed industries.

The fishmeal market size is expected to see strong growth in the next few years. It will grow to $11.93 billion in 2029 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to adoption of fishmeal as a source of omega-3 fatty acids in functional foods, emphasis on sustainable and responsible fishing practices, research and development in alternative protein sources for animal feed, need for nutrient-dense feeds in animal husbandry and farming, expansion of fishmeal applications in nutraceutical and pharmaceutical industries, growing demand for organic and non-gmo certified fishmeal products. Major trends in the forecast period include advanced processing technologies, focus on omega-3 fatty acids, fortification of animal feeds, innovations in fishmeal quality assurance, bioactive compounds and functional additives.

The anticipated growth of the aquaculture industry is set to boost the fishmeal market in the coming years. Aquaculture involves harvesting fish, shellfish, and aquatic plants (such as algae) from fresh, salt, and brackish waters. This practice aims to provide food, rebuild populations of endangered species, replenish natural stocks, and restore aquatic habitats. With the increasing demand for seafood and the declining annual catch of wild fish, aquaculture is expected to expand, consequently driving up the demand for fishmeal. For example, in August 2022, the Food and Agriculture Organization of the United Nations, a US-based specialized agency focused on combating hunger and enhancing nutrition and food security, reported that global fisheries and aquaculture production rose to 223.2 million tons in 2022. This total includes 185.4 million tons (live weight) of aquatic animals (such as fish, crustaceans, and mollusks like mussels and squid) and 37.8 million tons (wet weight) of algae. Therefore, the growth of the aquaculture industry is significantly influencing the demand for the fishmeal market.

The rising consumption of dairy products is projected to boost the fishmeal market in the future. Dairy includes a variety of products made from milk, such as cheese, yogurt, butter, and cream. Fishmeal, a nutrient-dense ingredient derived from fish, is commonly used to increase the protein content in animal feeds. For example, in November 2023, the International Dairy Foods Association reported that per capita dairy consumption in the USA reached 653 pounds per person in 2022. Additionally, cheese consumption reached a record high of nearly 42 pounds per person, reflecting an increase of half a pound per person from the previous year. Thus, the growing consumption of dairy is driving the demand for fishmeal.

A noteworthy trend in the global fishmeal market is the growing popularity of innovative fishmeal products. Major companies in the fishmeal sector are introducing new and nutrition-rich products to meet the rising demand for novel fishmeal options for animal feed. For example, in July 2022, Interpet, a UK-based company specializing in fish-keeping and aquarium care, launched Blagdon Fit & Wild Pond Sticks. This new recipe food for pond fish, under the Blagdon brand, is crafted from insects and small crustaceans, eliminating fishmeal. The protein sources include mealworm meal, daphnia, bloodworms, and black soldier fly larvae, closely resembling what fish would consume in the wild. The product is designed to offer fish a more natural and nutritious diet, promoting their fitness and overall health.

Major companies in the fishmeal market are focusing on the development of stress-combating fishmeal, exemplified by products such as Pro-Allo, which is designed to address environmental stress in fish. In 2023, Pelagia, a Norway-based producer of pelagic fish products, introduced Pro-Allo, a groundbreaking fishmeal specifically formulated to support allostasis in fish, aiding them in coping with environmental stressors. Pro-Allo aims to contribute to the development of significantly healthier and larger fish by fostering allostasis, a crucial biological process that enables fish to counteract stress induced by environmental changes or handling. Notably, Pro-Allo stands out for its enriched content of water-soluble components, comprising small proteins, free amino acids, and peptides.

In a strategic move in June 2022, Koppernaes Protein AS, a Norway-based marine and infrastructure business company, acquired TripleNine Group for an undisclosed amount. This acquisition aligns with Koppernaes Protein AS's long-term strategy to provide sustainable food options to consumers and actively develop this business sector in the coming years. TripleNine Group, based in Denmark, is a prominent feed ingredient manufacturer specializing in fish protein and oils, making it a valuable addition to Koppernaes Protein AS's portfolio.

Major companies operating in the fishmeal market include Aker Biomarine Antarctic AS, Alpha Atlantique, Animalfeeds International Corporation, Austevoll Seafood ASA, Biomega AS, Oceana Group Limited, Omega Protein Corporation, Pioneer Fishing (Pty) Ltd., Sarma Fish S.A.R.L, Pesquera Diamante S.A., Pesquera Exalmar S.A.A, Pesquera Hayduk SA, FF Skagen A/S, Pelagia AS, Orizon SA, Sardina D.O.O, Austral Group S.A.A, Corporacion Pesquera Inca S.A.C. Copeinca S.A.C., Croda International PLC, TASA Pvt. Ltd., Corpesca SA, Colpex International S.A., Triplenine Group A/S, Pescanova SA, Pilmifresh S.A.

Asia-Pacific was the largest region in the fishmeal market in 2024. The regions covered in the fishmeal market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the fishmeal market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The fishmeal market consists of sales of pout, sand eel, sprat, sardine, pilchard, sauries, mackerels. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Fishmeal Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on fishmeal market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for fishmeal ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The fishmeal market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

• Markets Covered:1) By Livestock: Ruminants; Poultry; Swine; Aquatic Animals; Other Livestock
• 2) By Source: Salmon and Trout; Marine Fish; Carps; Crustaceans; Tilapia; Other Sources
• 3) By Application: Fertilizers; Animal Feed; Other Applications
• Subsegments:
• 1) By Ruminants: Beef Cattle; Dairy Cattle
• 2) By Poultry: Broilers; Layers; Turkeys
• 3) By Swine: Weaner Pigs; Grower-Finisher Pigs
• 4) By Aquatic Animals: Farmed Fish; Shrimp And Other Shellfish
• 5) By Other Livestock: Goats; Sheep; Horses
• Companies Mentioned: Aker Biomarine Antarctic AS; Alpha Atlantique; Animalfeeds International Corporation; Austevoll Seafood ASA; Biomega AS
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.