Fish Feed Market - Global Industry Size, Share, Trends, Opportunity, & Forecast, 2020-2030

Fish & Fish Products is the fastest growing segment, Asia-Pacific is the largest market globally

The Global Fish Feed Market, valued at USD 107.46 Billion in 2024, is projected to experience a CAGR of 9.07% to reach USD 180.92 Billion by 2030. Fish feed constitutes a specialized nutritional formulation designed to meet the dietary requirements of farmed aquatic animals, ensuring optimal growth, health, and efficient feed conversion. The market's expansion is primarily driven by the escalating global demand for seafood, fueled by population growth and increasing per capita consumption worldwide.

Key Market Drivers

The global fish feed market is primarily propelled by expanding global aquaculture production and rising worldwide seafood consumption. Aquaculture now serves as the foremost source of aquatic animal protein, crucial for meeting global food needs. According to the FAO's "The State of World Fisheries and Aquaculture 2024" report, global aquaculture production reached an unprecedented 130.9 million tonnes in 2022, surpassing capture fisheries for the first time. This significant growth in farmed aquatic animals directly fuels demand for specialized aquafeed, essential for optimizing growth and feed conversion efficiency. Concurrently, increasing global seafood consumption reinforces the need for expanded production.

Key Market Challenges

The volatility of raw material prices presents a notable challenge hampering the growth of the Global Fish Feed Market. The market relies heavily on marine-derived ingredients like fishmeal and fish oil, whose supply is susceptible to environmental factors and unpredictable fishing yields. According to the International Fishmeal and Fish Oil Organization (IFFO), global fishmeal production experienced a 23% decrease in 2023 compared to 2022, largely attributed to the El Niño phenomenon affecting key producing regions. This reduction in available raw materials directly impacts the stability and cost-effectiveness of feed production.

Key Market Trends

The integration of sustainable alternative proteins and lipids into aquafeed formulations represents a critical trend. This shift is driven by the increasing need to reduce reliance on marine-derived ingredients, which face supply constraints and environmental concerns. According to Alltech's 2025 Agri-Food Outlook, global aquafeed production experienced a slight decline of 1.1% in 2024, reaching 52.966 million metric tons, continuing a downward trend from the previous year. This decline underscores the urgency for robust, sustainable alternatives. In May 2024, Goterra partnered with Skretting Australia to validate the incorporation of Australian insect protein into aquaculture feeds, highlighting industry efforts to develop novel, environmentally sound ingredients. The long-term market growth depends on the successful scaling and cost-effectiveness of these innovative protein and lipid sources.

Key Market Players Profiled:

• Cargill Inc.
• Zeigler Bros., Inc.
• Archer Daniels Midlands Company
• Altech Inc
• Skretting AS
• Aller Aqua A/S
• Sonac B.V.
• BioMar Group
• Nutreco N.V.
• Biomin Holding GmbH

Report Scope:

In this report, the Global Fish Feed Market has been segmented into the following categories:

By Product:

• Plant Based
• Fish & Fish Products
• Microorganism

By Form:

• Pellet
• Granules
• Flakes
• Sticks
• Powder

By Distribution Channel:

• Retail Stores
• Store Based
• Online Retail

By Region:

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Fish Feed Market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company's specific needs. The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).

This product will be delivered within 1-3 business days.