Fish Feed Market Report

Global Fish Feed Market Size

The global fish feed market was valued at USD 158.46 billion in 2025, and it is expected to reach USD 174.15 billion in 2026 from USD 370.59 billion by 2034, growing at a CAGR of 9.9% from 2026 to 2034.

The fish feed is the production and distribution of nutritionally formulated feeds designed to support the growth, health, and productivity of farmed aquatic species, including salmon, tilapia, shrimp, and catfish. These feeds are engineered to deliver a precise balance of proteins, lipids, vitamins, and minerals, often tailored to the life stage and species-specific metabolic requirements of fish in aquaculture systems.

MARKET DRIVERS

Rapid Expansion of Global Aquaculture Production to Meet Rising Seafood Demand

The surge in aquaculture output is driven by the increasing global appetite for seafood and the overexploitation of wild fisheries, which is a primary driver for the growth of the fish feed market. As per the Food and Agriculture Organization, aquaculture production reached 92.3 million tonnes in 2022, a 5.4% year-on-year increase, with Asia accounting for 89% of total volume. China alone produced 45.8 million tonnes of farmed fish in 2022, necessitating massive feed inputs to sustain intensive farming systems. In Vietnam, shrimp farming has expanded to over 700,000 hectares, with the Ministry of Agriculture and Rural Development reporting that feed consumption rose by 18% between 2020 and 2023 to support export-oriented production.

Advancements in Feed Formulation to Improve Feed Conversion Ratios (FCR)

The development of scientifically optimized fish feeds with enhanced digestibility and nutrient density is significantly propelling the growth of the fish feed market. According to the European Maritime and Fisheries Fund, FCRs in commercial salmon farming have improved from 1.4 in 2010 to 1.15 in 2023, due to advanced extrusion technologies, enzyme supplementation, and amino acid balancing. These improvements are supported by biotechnological innovations; DSM-Firmenich introduced a yeast-based beta-glucan additive in 2023 that enhanced immune response in farmed sea bass, reducing mortality and feed waste.

MARKET RESTRAINTS

Volatility in Prices of Key Feed Ingredients, Particularly Fishmeal and Fish Oil

The persistent instability due to fluctuating prices of marine-based ingredients, primarily fishmeal and fish oil, which are derived from wild-caught forage fish such as anchovies and sardines, is restricting the growth of the fish feed market. In 2022, the Peruvian Ministry of Production reported a 40% decline in anchovy biomass, forcing feed manufacturers to seek costly alternatives. Fishoil prices followed a similar trajectory, reaching $2,100 per tonne in 2023, as per the Norwegian Seafood Council, which is impacting the formulation of omega-3-rich feeds for salmon and trout. These price swings directly affect feed production costs, which constitute 50–70% of total aquaculture expenses in countries like Indonesia and Chile.

Environmental Concerns Over the Sustainability of Forage Fish Harvesting
The reliance on wild-caught forage fish for fishmeal and fishoil production has triggered growing ecological and regulatory scrutiny, constraining the sustainability credentials of conventional fish feed. As per the Marine Stewardship Council, approximately 20 million tonnes of small pelagic fish are harvested annually, with 70% destined for reduction into feed ingredients, raising concerns about marine ecosystem disruption. Regulatory bodies are responding: the European Union’s Common Fisheries Policy now mandates maximum sustainable yield (MSY) limits for forage fish, affecting supply to feed producers.

MARKET OPPORTUNITIES

Rising Adoption of Alternative Protein Sources in Feed Formulations

The integration of non-marine protein sources such as soy, algae, insect meal, and single-cell proteins into fish feed presents a transformative opportunity to enhance sustainability and reduce dependency on wild fish stocks. According to the World Wildlife Fund, replacing 50% of fishmeal in global aquafeeds with alternatives could save 5 million tonnes of forage fish annually. In 2023, InnovaFeed opened the world’s largest insect protein plant in France, capable of producing 100,000 tonnes annually. Additionally, single-cell proteins from bacteria and yeast, such as those produced by NovoNutrients and Unibi, are being piloted in commercial farms.

Expansion of Recirculating Aquaculture Systems (RAS) in Land-Based Farming

The proliferation of land-based Recirculating Aquaculture Systems (RAS) is creating new opportunities for the growth of the fish feed market. As per the United Nations Environment Programme, RAS capacity grew by 14% annually from 2018 to 2023, driven by urbanization, water scarcity, and stricter coastal regulations. These closed-loop systems, which recycle up to 99% of water, require feeds with high digestibility and low leaching to maintain water quality and prevent biofouling. The German Federal Ministry of Food and Agriculture reported that RAS farms use 20–30% less feed than open-net pens due to stable temperatures and reduced stress. Additionally, automation in RAS enables precise feeding schedules, reducing waste and improving FCR.

MARKET CHALLENGES

Limited Access to High-Quality Feeds in Small-Scale and Rural Aquaculture Operations

The global aquaculture consists of smallholder farmers who lack access to advanced, nutritionally balanced feeds, which hinders the growth of the fish feed market. According to the Food and Agriculture Organization, over 80% of aquaculture production in sub-Saharan Africa and Southeast Asia comes from small-scale operations, many of which rely on farm-made or low-quality commercial feeds. Similarly, in Nigeria, the National Institute for Freshwater Fisheries Research reported that only 34% of catfish farmers use commercially produced feeds, with the rest depending on inconsistent local suppliers. Distribution challenges, lack of cold chain infrastructure, and high import duties on premium feeds exacerbate the gap.

Regulatory Fragmentation in Feed Approval and Labeling Standards

The absence of harmonized international regulations for fish feed composition, safety, and labeling creates operational complexity for manufacturers and importers, which also inhibits the growth of the fish feed market. In the European Union, the approval of new feed additives can take up to five years, while in countries like Indonesia and Egypt, regulatory oversight remains underdeveloped, allowing substandard products to enter the market.

REPORT COVERAGE

SEGMENTAL ANALYSIS

By Ingredient Insights

The fish meal segment dominated the global fish feed market by capturing 36.8% of the share in 2024 with its high digestibility, balanced amino acid composition, and rich content of essential omega-3 fatty acids, which makes it indispensable in diets for carnivorous species such as salmon, trout, and marine shrimp. In Chile, the world’s second-largest salmon producer, the Undersecretariat of Fisheries reported that over 600,000 tonnes of fishmeal were used in 2022 to support aquaculture production, with its operational centrality. Similarly, in Egypt, where farmed tilapia and seabass are key export commodities, the National Aquaculture Centre found that commercially successful farms use feeds with 20–25% fishmeal inclusion to maintain growth rates and disease resistance. Additionally, certification schemes like IFFO RS (Responsible Supply) have improved traceability by allowing premium markets in the EU and North America to accept fishmeal from regulated fisheries.

The additives segment is swiftly emerging with a CAGR of 9.4% in the coming years, with the increasing need to enhance feed efficiency, improve fish health, and reduce reliance on antibiotics in intensive aquaculture systems. According to the European Federation of Animal Health, enzyme supplementation in fish feed increased by 28% across Europe from 2024 to 2030, with phytase and protease enzymes enabling better utilization of plant-based proteins like soy and corn. Another major driver is the integration of probiotics and immunostimulants to bolster disease resistance; in Vietnam, the Ministry of Agriculture and Rural Development recorded a 33% decline in shrimp mortality after widespread adoption of beta-glucan and mannan-oligosaccharide additives in 2022.

By Additive Insights

The amino acids segment accounted in holding 27.3% of the fish feed market share in 2024, with the protein synthesis, growth optimization, and the formulation of sustainable feeds with reduced marine ingredient content. Amino acids such as lysine, methionine, threonine, and tryptophan are essential for carnivorous and omnivorous fish. When plant-based proteins replace fishmeal, which naturally contains balanced amino acid profiles. According to the Food and Agriculture Organization, plant proteins often lack sufficient levels of key amino acids, necessitating supplementation to prevent growth retardation and metabolic stress. In commercial salmon farming, the Scottish Aquaculture Innovation Centre found that methionine supplementation improved weight gain by 19% over 12 weeks in low-fishmeal diets.

The feed enzymes segment is likely to grow with an expected CAGR of 11.2% in the coming years, with the need to improve feed digestibility, reduce environmental pollution, and support the integration of non-marine ingredients into aquafeeds. As per the University of Stirling’s Institute of Aquaculture, phytase enzymes can increase phosphorus availability by up to 60% in plant-based diets, reducing the need for inorganic phosphate supplements and minimizing phosphorus discharge into waterways. Additionally, enzyme supplementation reduces feed waste and improves FCR. In Egypt, the WorldFish Center reported that tilapia farms using enzyme-enhanced feeds achieved FCRs below 1.4, compared to 1.8 in control groups.

By End Users' Insights

The fish segment dominated the global fish feed market share in 2024, with the large-scale commercial farming of finfish species such as salmon, trout, tilapia, carp, and catfish, which require daily, high-volume feeding throughout their growth cycles. The intensification of farmin systems in offshore and recirculating aquaculture systems (RAS) has further increased feed dependency. In the United States, Atlantic Sapphire’s RAS facility in Florida uses 100,000 tonnes of specialized feed annually to produce 230,000 tonnes of salmon. Additionally, finfish are farmed in greater densities and with shorter production cycles than molluscs or crustaceans, resulting in higher feed turnover.

The crustaceans segment is projected to expand at a CAGR of 8.7% during the forecast period, with the growing demand for farmed shrimp and prawns in international countries such as the U.S., EU, and Japan, where they are among the most consumed seafood products. Shrimp feeds are highly specialized, requiring high levels of protein (35–45%), essential amino acids, and immune-boosting additives like beta-glucans and astaxanthin. Disease outbreaks such as Early Mortality Syndrome (EMS) have also driven demand for functional feeds with probiotics and organic acids. In Ecuador, the National Chamber of Aquaculture reported a 22% increase in medicated and biofloc-compatible feed usage in 2023 to improve survival rates.

REGIONAL ANALYSIS

Asia Pacific Market Analysis

Asia-Pacific (APAC) was the top performer in the fish feed market with a 58.3% share in 2024. China and India are expected to pose significant growth opportunities for the growth of the fish feed market. Vietnam and Thailand are major shrimp feed producers, with Charoen Pokphand Foods operating some of the largest feed mills in Southeast Asia. Japan emphasizes high-quality, functional feeds for marine species like yellowtail and seabass, integrating omega-3 enrichment and immune support. Australia is advancing RAS and barramundi farming, using precision feeds to meet export standards. The region benefits from strong government support, low production costs, and dense aquaculture clusters, making it the undisputed leader in both volume and innovation in the global fish feed industry.

Europe Market Analysis

Europe fish feed market is anticipated to grow in the coming year. Norway is the continent’s powerhouse by consuming over 1.3 million tonnes of salmon feed annually, with manufacturers like Skretting pioneering low-fishmeal, enzyme-enhanced formulations. The European Commission’s Green Deal and Farm to Fork strategy have driven a 28% reduction in fishmeal use since 2018, as per the European Maritime Fisheries Fund. Scotland and Ireland are major salmon producers, relying on certified feeds to meet export requirements. In the Baltic region, Poland and Germany are expanding carp farming using plant-based feeds. Denmark leads in RAS technology, with farms using automated, low-waste feeding systems. The EU’s strict approval process for novel ingredients ensures feed safety but slows innovation.

North America Market Analysis

North America fish feed market growth is likely to grow with a significant CAGR in the coming years. In the U.S., the National Oceanic and Atmospheric Administration reported that commercial fish farms used over 200,000 tonnes of feed in 2023, primarily for catfish, trout, and emerging RAS-based salmon operations. Canada’s salmon industry in British Columbia consumed 180,000 tonnes of feed in 2023, as per Fisheries and Oceans Canada. The region emphasizes traceability, antibiotic-free production, and environmental compliance, with major retailers like Walmart requiring certified feeds.

Latin America Market Analysis

The Latin American fish feed market is expected to have a steady growth pace in the coming years. Chile is the world’s second-largest salmon producer, using over 600,000 tonnes of feed annually, as reported by the Undersecretariat of Fisheries. The country has adopted stringent environmental regulations, pushing feed manufacturers to reduce phosphorus discharge and improve FCR.

Middle East And Africa Market Analysis

The Middle East and Africa (MEA) fish feed market is anticipated to grow with significant growth opportunities in the coming years. Egypt is the largest fish producer in Africa, with the Ministry of Agriculture reporting that 800,000 tonnes of feed were used in 2023 for tilapia and mullet farming. In South Africa, the Department of Forestry, Fisheries, and the Environment supports smallholder farmers with subsidized feed programs.

COMPETITIVE LANDSCAPE

The competition in the fish feed market is intensifying, shaped by technological innovation, sustainability imperatives, and the consolidation of production in key aquaculture hubs. Global leaders such as Skretting, BioMar, and Cargill dominate through advanced R&D, global supply chains, and species-specific formulations, while regional players like Charoen Pokphand Foods and GreenFeed leverage local market knowledge and cost efficiency. The race to develop sustainable feeds with reduced marine ingredient content is a key battleground, with companies racing to commercialize insect-based, algal, and plant-protein alternatives. Mergers and acquisitions are common, as seen with Nutreco’s acquisition of Biomar, enabling scale and technological synergy. Regulatory standards in Europe and North America set global benchmarks, influencing feed design worldwide. In Asia, price sensitivity and fragmented farming structures favor large-scale producers with efficient distribution. Digital tools for feeding optimization and traceability are emerging as differentiators. Environmental compliance, disease prevention, and feed conversion efficiency are central to customer choice.

KEY MARKET PLAYERS

A few of the market players in the global fish feed market

• Cargill, Inc.
• Aller Aqua A/S
• BioMar Group
• Ridley Corporation Ltd
• Altech Inc
• BASF
• Biomin GmbH
• ArcherDanielsl Midland Co.
• Zeigler Bros Inc
• Sonac B.V.
• Nutreco N.V.
• Avanti Feeds
• AngelYeast Co.
• Adisseo
• Purin Animals Nutrition
• Nutriad International
• Biostadt India Limited.

Top Players In The Market

• Skretting, a global leader in aquafeed, has established a strong presence in the Asia Pacific region through localized production, research-driven formulations, and strategic partnerships with major aquaculture producers. The company operates advanced feed mills in Vietnam, Thailand, and India, tailoring products to species such as shrimp, tilapia, and seabass. In 2023, Skretting launched its Protilis line in Indonesia, a shrimp feed fortified with immunostimulants to combat disease outbreaks in intensive farming systems. It also expanded its Innovation Hub in Bangkok, focusing on sustainable ingredient integration and feed efficiency optimization. Collaborations with local hatcheries and government agencies in India and the Philippines have strengthened its technical support network. By investing in digital tools like FeedWatch for real-time feeding monitoring, Skretting is enhancing farm-level precision and customer loyalty.
• Charoen Pokphand Foods (CPF) is a dominant force in the Asia Pacific fish feed market, leveraging its integrated agri-food business model to deliver cost-effective, high-performance feeds across Southeast Asia. As one of the world’s largest feed producers, CPF manufactures specialized aquafeeds for shrimp, tilapia, and catfish in Thailand, Vietnam, and Indonesia. In 2023, the company introduced a new line of zero-antibiotic shrimp feeds in Vietnam, responding to EU import regulations and growing demand for clean-label seafood. CPF also invested in a state-of-the-art R&D center in Samut Prakan to develop feeds using insect meal and microbial proteins. Its direct supply chain to millions of smallholder farmers ensures wide distribution and affordability. Additionally, CPF’s adoption of biofloc and recirculating aquaculture systems (RAS) has driven demand for its functional, low-waste feeds.
• BioMar Group has significantly expanded its influence in the Asia Pacific fish feed market by focusing on sustainability, technical excellence, and species-specific nutrition. The company operates production facilities in Japan, India, and Vietnam, supplying premium feeds for salmon, seabass, and shrimp farming. In 2023, BioMar launched its INICIO MicroStart feed in Japan, designed for larval stages of yellowtail and red seabream, enhancing survival rates in hatcheries. It also partnered with the Indian Council of Agricultural Research to develop low-impact feeds for freshwater carp and pangasius, supporting India’s Blue Revolution. BioMar’s Asia-Pacific strategy emphasizes reducing environmental footprint; its SeaFurther sustainability program achieved a 30% reduction in carbon intensity across regional operations from 2020 to 2023.

Top Strategies Used By The Key Market Participants

Key players in the fish feed market are deploying a range of strategic initiatives to strengthen competitiveness and adapt to evolving industry demands. Companies are investing heavily in research and development to formulate feeds with alternative proteins such as insect meal, algae, and single-cell organisms to reduce reliance on fishmeal and fish oil. Strategic geographic expansion into high-growth aquaculture regions like Southeast Asia and Latin America is enabling proximity to key markets and faster response to local needs. Vertical integration links feed production with hatcheries, farms, and processing by enhancing supply chain control and quality assurance. Major firms are also forming partnerships with research institutions and governments to co-develop sustainable feeding solutions. Digitalization is a growing focus, with companies introducing smart feeding systems, IoT-enabled monitoring, and data analytics to optimize feed efficiency. Sustainability certifications and transparent sourcing are being leveraged to meet retailer and consumer expectations. Additionally, companies are expanding technical service networks to provide on-farm support, ensuring optimal feed utilization and building long-term customer loyalty.

RECENT MARKET NEWS

• In January 2023, Skretting launched its Protilis shrimp feed in Indonesia, incorporating immune-boosting additives to improve survival rates in high-density farming systems and strengthen its position in Southeast Asia.
• In May 2023, Charoen Pokphand Foods opened a new R&D center in Thailand focused on alternative proteins and sustainable aquafeed innovation, enhancing its product development capabilities in Asia.
• In September 2023, BioMar partnered with the Indian Council of Agricultural Research to develop low-environmental-impact feeds for freshwater species, expanding its technical footprint in India’s growing aquaculture sector.
• In February 2024, Cargill introduced a new line of insect-based fish feed in Vietnam, utilizing black soldier fly meal to reduce fishmeal dependency and meet EU sustainability standards for export markets.
• In July 2023, Ridley Aquaculture expanded its production capacity in Australia by 40%, enabling an increased supply of specialized barramundi and prawn feeds to meet rising domestic and export demand.

MARKET SEGMENTATION

This research report on the global fish feed market has been segmented and sub-segmented based on ingredient, additive, end-user, and region.

By Ingredient

• Corn
• Soybean
• Fish Oil
• Fish Meal
• Additives
• Others

By Additive

• Vitamins
• Antibiotics
• Amino Acids
• Antioxidants
• Feed Acidifiers
• Feed Enzymes
• Other Additives

By End-User

• Fish
  • Salmon Feed
  • Carp Feed
  • Tilapia Feed
  • Catfish Feed
• Mollusks
  • Oyster Feed
  • Mussel Feed
• Crustaceans
  • Crab Feed
  • Shrimp Feed

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa