Aquaculture Feed Market Growth Analysis Report - Market Size, Share, Forecast Trends and Outlook (2025-2034)

The global aquaculture feed market reached a volume of 49.70 Million Tons in 2024. The market is projected to reach 83.30 Million Tons by 2034, growing at a healthy CAGR of 5.30% during the forecast period of 2025-2034.

Aquaculture Feed Market Growth

Aquaculture feed is defined as a commercially manufactured food for aquatic animals to fulfil their nutritional requirements. It is made up of various raw materials and additives, including plants, marine animals, grain products, terrestrial-based live feeds, vegetable protein, and fish oil. The feed offers a balanced diet, which is essential for rearing healthy fishes. Also, it is rich in nutrients like protein, minerals, vitamins, carbohydrates, and lipids, thus helps in promoting effective growth and reproduction of aquatic animals.

Factors supporting aquaculture feed market expansion are the growth of aquaculture industry, increasing health consciousness, increasing mass production of fish, and surging consumption of seafood. As people become more aware of the nutritional benefits of fish, such as its high-quality protein, omega-3 fatty acids, vitamins, and minerals, the demand for aquaculture feed has increased significantly. Additionally, the recognition of fish as a healthier alternative to red meat due to its lower saturated fat content has further fuelled the growth of the market.

Key Trends and Developments

Rising demand for green aquafeed, growing use of natural additives, adoption of advanced technologies to produce quality aquafeed are all factors impacting the aquaculture feed market development

June 2024

Aquafarming has become the main global source of fish, according to the United Nations Food and Agriculture Organisation (FAO). This shift is driven by the increasing demand for fish and seafood, and it aims to achieve a 35% growth in aquaculture production by 2030 to meet this demand.

June 2024

The Himachal Pradesh Department of Fisheries has signed a MoU with Central Freshwater Aquaculture Research, Bhubaneswar, to provide fish feed technology and seeds of improved fish species to farmers in the state. This will improve the growth rate of Amur Carp, Jayanti Rohu, and Katla fish species by 15-20%.

May 2024

Smir Group has signed a contract with Andfjord Salmon to supply its waterborne feeding system, Smirfeeder, to their land-based facilities. This technology enables gentle feed transport and reduces energy consumption by up to 90% compared to traditional airborne systems.

Growing demand for sustainable aquafeed

There is a need for aquafeed that is produced using eco-friendly methods and has a lower carbon footprint. Companies like Cargill and Nutreco are already investing in sustainable aquafeed production by sourcing fishmeal and fish oil from certified sustainable fisheries.

Rising use of natural resources and additives

The use of natural resources and additives in aquafeed is becoming increasingly popular as they provide optimal nutrition for farmed fish. Companies like Alltech and Ridley Corporation are using additives made from vitamins and minerals, which is expected to propel the aquaculture feed market growth.

Growing adoption of advanced technologies

The adoption of advanced technologies in aquafeed production is increasing as companies look to improve nutritional value of feed and reduce costs. For example, BioMar uses a precision feeding system that allows for real-time monitoring of fish growth and feed intake, which helps optimise feed production.

Shift towards organised retail channels

Fish feed consumption has shifted from unorganised retail channels (like wet markets) to organised retail channels (such as supermarkets) due to rising disposable incomes, health consciousness, and improved cold chain facilities.

Aquaculture Feed Market Trends

As per industry reports, the global aquaculture production increased to 122.6 million tonnes in 2020, comprising 87.5 million tonnes of aquatic animals and 35.1 million tonnes of algae. This showcases the rising production levels of aquaculture. Moreover, the consumption of seafood has increased in recent years, which in turn has shaped aquaculture feed market outlook.

In addition to this, consumers have become more aware of the benefits offered by high-quality seafood products, creating a positive influence on the supply of improved aquaculture feed across the globe. Moreover, it is estimated that 73.15 million tonnes of aquafeed will be needed by 2025 to meet production levels for fed species. This can further propel market’s expansion.

Aquaculture Feed Industry Segmentation

The report titled “Aquaculture Feed Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Species

• Carp
• Marine Shrimps
• Tilapias
• Catfishes
• Marine Fishes
• Salmons
• Freshwater (FW) Crustaceans
• Trouts
• Others

Market Breakup by Ingredients

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

Market Breakup by Additives

• Vitamins and Minerals
• Antioxidants
• Feed Enzymes
• Others

Market Breakup by Product Form

• Pellets
• Extruded
• Powdered
• Liquid

Market Breakup by Region

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

Aquaculture Feed Market Share

Soybean is the largest segment, followed by corn, fish meal, fish oil, and additives, driven by increasing demand for natural aquafeed

Based on the ingredients, the soybean segment is estimated to dominate the market, followed by corn, fish meal, fish oil, additives, and others. Since the soybean meal price is relatively less expensive than fishmeal and has a higher protein content, it is highly used as a feed for fish and other aquatic organisms.

The corn segment is the second-largest segment in the aquaculture feed market report as it is often used as a source of energy in aquafeed and is also a common ingredient in fish feed. Fish meal is another high-quality protein source used in aquafeed and acts as a binding agent in fish feed.

Meanwhile, fish oil is used because it is a rich source of omega-3 fatty acids and is used as a nutritional supplement in aquafeed. Additives, in contrast, have a growing market share as they are being used to enhance the nutritional value of aquafeed and include vitamins, amino acids, and antioxidants.

Based on the product form, the pellet segment is projected to hold the leading share

As per aquaculture feed market analysis, pellets are a popular choice among aquaculture farmers due to their ease of use and high nutritional value. They are made by extruding a mixture of ingredients such as soybean meal, corn, fishmeal, and fish oil through a die to create a uniform pellet.

Powdered feed, on the other hand, is made by grinding a mixture of ingredients such as soybean meal, corn, fishmeal, and fish oil into a fine powder. This process helps to improve the digestibility and nutritional value of the feed.

Aquaculture Feed Market Analysis by Region

The aquaculture sector in North American and APAC regions is driven by the presence of leading producers, processors, and consumers of aquaculture products

The North American aquaculture sector is projected to witness rapid growth due to the rising consumption of seafood, such as salmonids, mollusks, hard clams, oysters, and mussels. Moreover, the region is home to several major aquafeed companies, including Cargill, Nutreco, and Alltech, which is expanding its aquaculture feed market share.

In January 2018, Cargill opened its first feed factory in India, Vijayawada to provide farmers with aqua feed solutions that are both safe and of superior quality. In June 2018, Nutreco announced a joint venture with the Mumbai-based West Coast Group to service the expanding Indian aquaculture business. These developments are expected to further strengthen the position of North America in the aquaculture feed market.

The Asia-Pacific region is also witnessing an increase in fish population, driven by growing demand for meat and aquaculture products, which directly impacts the aquafeed market. In APAC, India is the primary market for aquaculture feed due to its diverse aqua species, which also helps in escalating the export business. Additionally, market players like BioMar are expanding their operations in Asia-Pacific to cater to the growing demand for aquafeed in the region.

Leading Companies in the Aquaculture Feed Market

Market players are focused on expanding their market presence and partnering with channel partners to cater to consumers across the globe

Archer Daniels Midland Company

Was founded in 1898 and is headquartered in Illinois, United States. Its products include food and beverage ingredients, feed ingredients, industrial ingredients, and biofuels. The company also offers grain origination services, oilseed processing, and animal nutrition.

Cargill, Incorporated

Was founded in 1865 and is headquartered in Minnesota, United States. The company is a leading global provider of food, agricultural, financial, and industrial products and services. It also offers services related to animal nutrition.

Ridley Corporation Limited

Was founded in 1884 and is headquartered in Victoria, Australia. The company is a leading provider of premium quality and high-performance animal nutrition solutions. Its products include bulk stock feeds and packaged ingredients, including aquafeed under the Primo brand.

Nutreco N.V.

Was founded in 1994 and is headquartered in Amersfoort, Netherlands. The company is a leading global provider of aquafeed and animal nutrition products. The company also offers a range of services, including aquafeed production, animal nutrition, breeding services, breeding stock production, and meat processing.

Other key players in the global aquaculture feed market include Alltech, among others.