The Fishmeal Market size was estimated at USD 6.5 billion in 2023 and is projected to reach USD 13.5 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 11.50% during the forecast period (2024-2030).

Fishmeal Market

Market Summary

The fishmeal market is a critical segment within the global food and beverages industry, primarily serving as a high-protein ingredient in animal feed and aquaculture. Derived from whole fish or fish byproducts, fishmeal is valued for its rich nutritional profile, including essential amino acids, vitamins, and minerals. The market is characterized by a robust supply chain involving fishing, processing, and distribution, with key production hubs located in regions abundant in fish resources. Demand is heavily influenced by the expanding aquaculture sector, which relies on fishmeal for feed formulations to support the growth and health of farmed species such as salmon, shrimp, and trout. Additionally, the livestock industry utilizes fishmeal in feed for poultry, swine, and other animals to enhance productivity and nutritional outcomes. Sustainability concerns and regulatory frameworks governing fishing practices are pivotal factors shaping market dynamics, prompting innovations in alternative protein sources and efficient processing technologies. The market remains integral to global food security efforts, supporting protein production systems worldwide.

Key Highlights

The fishmeal market is distinguished by several key highlights that underscore its importance and evolution. Nutritional superiority remains a cornerstone, as fishmeal offers an unmatched amino acid profile and omega-3 fatty acid content, making it indispensable in premium animal feeds. The market is witnessing a shift towards sustainable sourcing, with certifications like IFFO RS (Marine Ingredients Standards) gaining prominence among producers and buyers. Geopolitical factors, such as fishing quotas and regulations in major producing countries like Peru and Chile, directly impact global supply and pricing volatility. Technological advancements in processing, including low-temperature drying and enzymatic hydrolysis, are enhancing product quality and yield while reducing environmental footprints. Furthermore, the rise of circular economy principles is driving the utilization of fish waste and byproducts for fishmeal production, aligning with waste reduction goals. These highlights reflect a market that is both traditional in its foundations and innovative in its adaptations to modern challenges.

Drivers, Opportunities & Restraints

Several drivers propel the fishmeal market, with the foremost being the escalating demand for animal protein, particularly from aquaculture, which is the fastest-growing food production sector globally. This demand is fueled by population growth, rising incomes, and shifting dietary preferences towards seafood. Health trends emphasizing omega-3 consumption also bolster demand for fishmeal in aquafeeds and specialty nutritional products. Opportunities abound in the development of sustainable alternatives and innovations, such as insect-based meals and microbial proteins, which could complement or partially replace fishmeal while addressing ecological concerns. Additionally, expanding applications in pet food and pharmaceuticals present new revenue streams. However, restraints include stringent environmental regulations limiting fish catch volumes, which constrain raw material supply. Climate change effects on fish stocks and ocean health pose risks to production consistency. Price volatility due to supply-demand imbalances and competition from plant-based proteins also challenges market stability, necessitating strategic adaptations from stakeholders.

Concentration Insights

The fishmeal market exhibits a concentrated production landscape, dominated by a few key countries with rich marine resources. Peru consistently ranks as the largest producer, leveraging its abundant anchovy fisheries in the Humboldt Current, followed by Chile, which also capitalizes on similar pelagic resources. Other significant producers include countries in Northern Europe such as Norway and Denmark, known for their responsibly managed fisheries and advanced processing capabilities. In Asia, China and Thailand are major players, often utilizing byproducts from seafood processing to produce fishmeal. This concentration means global supply is highly sensitive to climatic events like El Ni?o, which disrupt fishing activities in South America, causing price spikes and supply shortages. Market power is also concentrated among a few large companies that control significant portions of production and export channels, influencing pricing and availability. However, efforts to diversify sourcing through sustainable certifications and regional production expansions are gradually altering concentration dynamics.

Type Insights

Fishmeal is categorized based on source and quality, with distinctions between whole fish meal and byproduct meal. Whole fish meal, derived from dedicated catch species like anchovies, menhaden, or sardines, is considered premium due to its higher protein content and consistent quality, making it ideal for aquaculture and livestock feeds. Byproduct meal, produced from fish trimmings, heads, bones, and other leftovers from processing, is a sustainable option that reduces waste but may vary in nutritional profile. Specialty types include LT (low-temperature) fishmeal, processed under controlled conditions to preserve protein quality and digestibility, often preferred for sensitive applications like shrimp feed. Another emerging category is organic fishmeal, meeting stringent certification standards for natural production methods. These types cater to diverse end-user requirements, with pricing and application suitability varying accordingly. Innovations in processing are further refining these categories to enhance functionality and market appeal.

Application Insights

Fishmeal finds primary application in animal feed, with aquaculture being the largest consumer, accounting for a substantial share of global demand. It is essential in feeds for species like salmon, trout, and marine shrimp, promoting growth, health, and disease resistance due to its high protein and energy density. The poultry industry utilizes fishmeal in starter feeds for chicks and layers to boost protein intake and improve egg quality, while the swine sector incorporates it in piglet diets for enhanced development. Pet food represents a growing application, where fishmeal is valued for palatability and nutritional benefits in premium and specialty products. Additionally, fishmeal is used in fertilizers for its nutrient content and in pharmaceuticals for omega-3 extraction. Each application demands specific quality grades, influencing production specifications and market segmentation. The versatility of fishmeal across these sectors underscores its integral role in supporting global protein supply chains.

Regional Insights

Regionally, the fishmeal market is influenced by production capacities, demand patterns, and regulatory environments. South America, led by Peru and Chile, dominates production and exports, supplying significant volumes to international markets, particularly Asia and Europe. Asia-Pacific is the largest consumer, driven by booming aquaculture industries in China, Vietnam, and India, where fishmeal is critical for feed formulations. Europe maintains a strong demand, supported by robust aquaculture in Norway and Scotland, alongside strict sustainability standards that shape import preferences. North America, with the United States as a key player, utilizes fishmeal in aquaculture and livestock feeds, while also focusing on sustainable sourcing initiatives. Africa shows potential for growth, with emerging production in countries like Morocco and Namibia, though infrastructure challenges persist. Regional disparities in supply-demand balance often lead to trade flows from producing to consuming regions, with logistics and tariffs affecting market accessibility.

Company Insights

The competitive landscape of the fishmeal market features several prominent companies that leverage scale, technology, and sustainability practices. Key players include FF Skagen A/S from Denmark, known for high-quality fishmeal and oil products, and Corpesca S.A. from Chile, which focuses on pelagic fishing and processing. Peru-based companies like TASA (Technological Foods S.A.) and CFG Investment S.A.C. are major exporters, capitalizing on anchovy resources. European firms such as TripleNine Group A/S and Soprop?che operate advanced facilities with a emphasis on eco-certifications. These companies invest in R&D to improve processing efficiency and product offerings, while also engaging in vertical integration to control supply chains from fishing to distribution. Sustainability initiatives, such as participating in certification programs and reducing environmental impacts, are increasingly central to corporate strategies to meet buyer expectations and regulatory requirements. The market also sees participation from smaller regional producers catering to local demands.

Recent Developments

Recent developments in the fishmeal market reflect ongoing adaptations to sustainability and technological trends. Major producers are increasingly adopting certifications like IFFO RS to demonstrate responsible sourcing, responding to consumer and regulatory pressures for transparency. Technological innovations include the implementation of energy-efficient drying systems and water recycling in processing plants to minimize environmental footprints. There is a growing emphasis on circular economy models, with companies utilizing fish waste from processing industries to produce fishmeal, reducing reliance on wild catch. Partnerships and acquisitions have been observed, such as collaborations between feed manufacturers and fishmeal producers to secure sustainable supply chains. Additionally, research into alternative proteins, including algal and insect-based meals, is gaining traction, though fishmeal remains irreplaceable for certain applications. These developments highlight a market evolving towards greater efficiency and ecological responsibility while maintaining its core nutritional value.

Report Segmentation

The fishmeal market report is segmented to provide detailed analysis across multiple dimensions. By type, segmentation includes whole fish meal and byproduct meal, with further breakdowns into specialty categories such as LT fishmeal and organic variants. Application segmentation covers aquaculture feed, poultry feed, swine feed, pet food, fertilizers, and others, each analyzed for demand trends and growth potential. Geographically, the report segments the market into key regions: North America, Europe, Asia-Pacific, South America, and Middle East & Africa, with country-level analysis for major markets like Peru, China, and Norway. Additional segments may focus on source species, such as anchovy, sardine, or menhaden, and processing methods like steam drying or flame drying. This comprehensive segmentation enables stakeholders to identify niche opportunities, understand regional dynamics, and make informed decisions based on granular insights into market structure and performance.

FAQs

What is fishmeal used for? Fishmeal is primarily used as a high-protein ingredient in animal feeds, especially in aquaculture for species like salmon and shrimp, as well as in poultry, swine, and pet food industries due to its nutritional benefits.

What are the substitutes for fishmeal? Substitutes include plant-based proteins like soybean meal, and emerging alternatives such as insect meal, algal meal, and single-cell proteins, which aim to reduce reliance on marine resources.

How is fishmeal produced? Fishmeal is produced by cooking, pressing, drying, and grinding whole fish or fish byproducts. The process involves removing oil and water to create a stable, protein-rich powder used in various applications.

Why is fishmeal important in aquaculture? Fishmeal is crucial in aquaculture because it provides essential amino acids, omega-3 fatty acids, and minerals that promote growth, health, and disease resistance in farmed fish and shellfish.

What are the environmental concerns with fishmeal? Environmental concerns include overfishing of wild stocks used for production, potential ecosystem impacts, and energy-intensive processing, leading to efforts towards sustainable sourcing and alternative development.

Citius Research has developed a research report titled “Fishmeal Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” delivering key insights regarding business intelligence and providing concrete business strategies to clients in the form of a detailed syndicated report. The report details out the factors such as business environment, industry trend, growth opportunities, competition, pricing, global and regional market analysis, and other market related factors.

Details included in the report for the years 2024 through 2030

• Fishmeal Market Potential
• Segment-wise breakup
• Compounded annual growth rate (CAGR) for the next 6 years
• Key customers and their preferences
• Market share of major players and their competitive strength
• Existing competition in the market
• Price trend analysis
• Key trend analysis
• Market entry strategies
• Market opportunity insights

The report focuses on the drivers, restraints, opportunities, and challenges in the market based on various factors geographically. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report. The Fishmeal Market report is segmented on the basis of various market segments and their analysis, both in terms of value and volume, for each region for the period under consideration.

Fishmeal Market Segmentation

Regions Covered

• North America
• Latin America
• Europe
• MENA
• Asia Pacific
• Sub-Saharan Africa and
• Australasia

Fishmeal Market Analysis

The report covers below mentioned analysis, but is not limited to:

• Overview of Fishmeal Market
• Research Methodology
• Executive Summary
• Market Dynamics of Fishmeal Market
  • Driving Factors
  • Restraints
  • Opportunities
• Global Market Status and Forecast by Segment A
• Global Market Status and Forecast by Segment B
• Global Market Status and Forecast by Segment C
• Global Market Status and Forecast by Regions
• Upstream and Downstream Market Analysis of Fishmeal Market
• Cost and Gross Margin Analysis of Fishmeal Market
• Fishmeal Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030
  • Competition Landscape
  • Market Share of Major Players
• Key Recommendations

The “Fishmeal Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” report helps the clients to take business decisions and to understand strategies of major players in the industry. The report delivers the market driven results supported by a mix of primary and secondary research. The report provides the results triangulated through authentic sources and upon conducting thorough primary interviews with the industry experts. The report includes the results on the areas where the client can focus and create point of parity and develop a competitive edge, based on real-time data results.

Fishmeal Market Key Stakeholders

Below are the key stakeholders for the Fishmeal Market:

• Manufacturers
• Distributors/Traders/Wholesalers
• Material/Component Manufacturers
• Industry Associations
• Downstream vendors

Fishmeal Market Report Scope

COVID-19 Impact Analysis

Like most other markets, the outbreak of COVID-19 had an unfavorable impact on the Fishmeal Market worldwide. This report discusses in detail the disruptions experienced by the market, the impact on flow of raw materials, manufacturing operations, production trends, consumer demand and the projected future of this market post pandemic.

The report has helped our clients:

• To describe and forecast the Fishmeal Market size, on the basis of various segmentations and geography, in terms of value and volume
• To measure the changing needs of customers/industries
• To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
• To gain competitive intelligence and uncover new opportunities
• To analyse opportunities in the market for stakeholders by identifying high-growth segments in Fishmeal Market
• To strategically profile key players and provide details of the current competitive landscape
• To analyse strategic approaches adopted by players in the market, such as product launches and developments, acquisitions, collaborations, contracts, expansions, and partnerships

Report Customization

Citius Research provides free customization of reports as per your need. This report can be personalized to meet your requirements. Get in touch with our sales team, who will guarantee you to get a report that suits your necessities.

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