Is the Fishmeal Market Set for Rapid Expansion?
The fishmeal market size has experienced strong growth in recent years, expanding from $8.88 billion in 2024 to a projected $9.42 billion in 2025, representing a compound annual growth rate (CAGR) of 6.2%. This robust growth can be attributed to a rise in global demand for aquaculture and animal feed, an expansion of the livestock and poultry industries, heightened awareness of the nutritional benefits of fishmeal, and an increase in commercial fishing and processing activities.
The fishmeal market is predicted to continue its trajectory of robust growth in the coming years, reaching up to $11.93 billion in 2029 at a CAGR of 6.1%. This forecasted growth can be attributed to the adoption of fishmeal as a source of omega-3 fatty acids in functional foods, an emphasis on sustainable and responsible fishing practices, developments in alternative protein sources for animal feed, and an expanding role for fishmeal in the nutraceutical and pharmaceutical industries.
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What is Driving the Growth of the Fishmeal Market?
One key driver propelling the growth of the fishmeal market is the expansion of the aquaculture industry. This sector, which includes the harvesting of fish, shellfish, and aquatic plants, is expected to grow in response to huge demand for seafood, leading to an increase in demand for the fishmeal market.
Which Are The Key Segments in The Global Fishmeal Market?
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
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Who Are the Major Players in the Fishmeal Market?
Major companies 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.
What Are the Emerging Trends in the Fishmeal Market?
Innovative fishmeal products are increasingly gaining popularity across the world. Major companies in the market are introducing new products to meet the growing demand for new and nutritionally-rich fishmeal for animals.
Where Is the Fishmeal Market Experiencing the Highest Growth?
The Asia-Pacific region was the largest contributor to the fishmeal market in 2024. The fishmeal market report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Does The Fishmeal Market Report 2025 Offer?
The fishmeal market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities. Fishmeal refers to a coarsely ground powder primarily made from small leftover pelagic or oceanic fish, bones, and organ flesh pulverized into a meal. The product, which is high in protein concentration, vitamins, and minerals, is used as animal feed, aquafeed, a livestock feed supplement, and fertilizer.
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