Fishmeal And Fishoil Market Size & Share Analysis - Growth Trends and Forecast (2026 - 2031)

Global Fishmeal And Fishoil Market Trends and Insights

Expanding Aquaculture Output in Asia-Pacific

China retained its position as the world's largest seafood producer in 2024, with production estimated at 74.1 million metric tons, up 4% from 2023. This growth was primarily driven by aquaculture, which rose by 4.5% year-on-year to reach 58.1 million metric tons^{[1]Source: USDA Foreign Agricultural Department, "China: 2025 China Fishery Products Report," fas.usda.gov}. According to Vietnam Customs, the country’s total shrimp export turnover in 2025 amounted to USD 4.6 billion, representing a 19% increase compared to 2024 and marking the highest level ever recorded, and is accelerating the procurement of protein-dense diets for tilapia and seaweed juveniles^{[2]Source: Vietnam Association of Seafood Exporters and Producers, "Vietnam’s shrimp exports hit a record USD 4.6 billion in 2025," vasep.com.vn}. Juvenile fish and shrimp show limited tolerance for plant proteins, so marine amino acid profiles remain indispensable for optimal growth. India’s coast is piloting recirculating systems for pompano and cobia that require fishmeal inclusion, exacerbating regional tightness. Rising per-capita seafood intake across Southeast Asia, projected to increase by 2028, reinforces structural growth for the fishmeal and fish oil market.

Premiumization of Salmonid and Shrimp Feeds

Norwegian producers are reformulating diets to include combined EPA (eicosapentaenoic acid) and DHA (docosahexaenoic acid), increasing the share of fishmeal in finishing rations. Ecuadorian exporters targeting United States retail price premiums are utilizing astaxanthin-rich oils derived from anchoveta and krill, driving specialty demand. This trend highlights the growing importance of high-value additives in aquaculture feed formulations. Chilean salmon farmers are shortening grow-out cycles by increasing marine protein density, achieving feed conversion ratios below 1.1. Scotland enforces low-phosphorus discharge limits, spurring uptake of enzymatically hydrolyzed meal that maintains performance while reducing effluent. These dynamics split the fishmeal and fish oil market into commodity grades for carp and tilapia versus high-specification concentrates that capture superior margins.

Carbon-Offset Premiums for Certified Sustainable Lots

MarinTrust-certified shipments commanded a premium in European spot markets as multinational feed companies incorporated traceability requirements into their contracts. Marine Stewardship Council-certified Peruvian anchoveta meal is being used for standard grades, driven by retailer demands on salmon producers to supply documented low-carbon inputs. Global fishmeal production primarily originates from assessed fisheries, as procurement frameworks at Cargill, Incorporated, and Nutreco N.V. emphasize sustainable sourcing practices. Blockchain platforms piloted in Chile let buyers verify vessel-level data and unlock green financing that lowers working-capital costs. Credentials, therefore, operate as non-tariff barriers, redefining competitive positioning in the fishmeal and fish oil market.

Rapid Uptake of High-Protein Concentrates from By-Products

European plants using enzymatic hydrolysis now achieve higher protein levels than conventional meal, allowing formulators to reduce inclusion rates without compromising amino acid density. TripleNine Group expands production by 18 thousand metric tons in 2025 to meet the requirements of Scottish and Norwegian recirculating aquaculture systems. Salmon by-product hydrolysates, when included in shrimp starter feeds, reduced early mortality. The emphasis on functional nutrition has elevated concentrates to a premium category, ensuring price stability despite the substitution of volumes by insect or single-cell proteins. In 2024, clear federal guidance in the United States eliminated regulatory uncertainty, accelerating the pace of commercialization.

El Niño-Driven Volatility of Peruvian Anchoveta Landings

El Niño-Southern Oscillation (ENSO) events are the main factor contributing to fluctuations in Peruvian anchoveta (Engraulis ringens) landings, leading to significant and often abrupt changes in population biomass and fishing yields. In 2023, industrial anchoveta landings in Peru totaled 1.9 million metric tons, the lowest level recorded since 1999. The decline in landings and the poor condition of anchoveta that year led to the export value of fish meal and oil from Peru falling to USD 1.1 billion, the lowest in two decades, negatively impacting juvenile recruitment^{[3]Source: Food and Agriculture Organization of the United Nations, "El Niño impacts and policies for the fisheries sector," fao.org}. Chinese buyers diverted to Morocco at premiums, squeezing feed-mill profitability. The Humboldt Current supplies roughly one-third of global fishmeal tonnage, so each quota shock reverberates through global pricing. National Oceanic and Atmospheric Administration models foresee more frequent moderate or strong El Niño events through 2035, locking volatility into the outlook. Strategic reserves and alternative-protein pipelines are becoming necessary hedges in the fishmeal and fish oil market.

Surge of Insect and Single-Cell Proteins in Aquafeed Recipes

The European Union's regulatory developments in 2024, including clarifications on the use of live insects and the ongoing authorization of insect species, have driven substantial growth in large-scale Black Soldier Fly (BSF) projects. Ynsect raised EUR 160 million (USD 175 million) in 2023 for a 200 thousand-metric-ton plant targeting Mediterranean aquafeed customers. Single-cell proteins fermented from methane received clearance for inclusion in salmon diets in Norway and Canada. Norwegian Institute of Marine Research trials showed growth parity in Atlantic salmon, but fillet omega-3 dilution of 12% to 15% in 2023, limiting penetration into premium categories. Cost savings in tilapia and carp remain compelling, eroding fishmeal share in low-margin species.

*Our forecasts treat driver/restraint impacts as directional, not additive. The impact forecasts reflect baseline growth, mix effects, and variable interactions.

Segment Analysis

By Species Type: Salmon and Trout Hold the Largest Share

Salmon and trout were the largest species segment and accounted for 28.3% of the fishmeal and fishoil market share in 2025, reflecting their dependence on high-specification marine ingredients that secure premium fillet color and omega-3 density demanded by retailers in Europe and North America. Continued product differentiation raises functional protein requirements despite formulation advances. Norwegian, Chilean, and Scottish farms collectively consumed more than 1.3 million metric tons of fishmeal in 2025, sustaining price leadership for low-ash, enzyme-hydrolyzed grades. Feed conversion ratios below 1.1 underscore the economic case for maintaining marine inputs even as insect proteins advance through trial phases. Regulators tightening discharge limits spur uptake of concentrates that reduce waste while preserving growth metrics, a niche where vertically integrated renderers enjoy higher margins.

Crustaceans are projected to be the fastest-growing segment, expanding at an 8.5% CAGR between 2026 and 2031. Rising shrimp consumption in Asia and retail premiumization in the United States are driving inclusion rates, thereby elevating the size of the fishmeal and fish oil market for crustacean diets. Ecuadorian shrimp exporters use astaxanthin-rich fish oil to differentiate color, thereby sustaining price premiums over Indian-origin shrimp. Southeast Asian growers adopting super-intensive ponds raise feed frequency, compounding volume gains. Certification pressures parallel those seen in salmonids, embedding traceability as a ticket to market access and reinforcing demand for sustainably sourced marine proteins.

By Application: Aquaculture Leads, Pet Food Climbs Fastest

Aquaculture was the largest application segment, accounting for 70.2% of the fishmeal and fishoil market size in 2025, driven by global farmed seafood surpassing wild-capture volumes. Carnivorous species exhibit limited enzymatic capacity for plant proteins, so fishmeal remains a metabolic necessity. Regulatory clarity on enzymatically treated meals in the United States and European Union stimulates investment in concentrates that lower inclusion without jeopardizing conversion. Asia-Pacific’s production targets and Middle East diversification policies anchor consistent baseline growth, even as insect and single-cell proteins nibble share in carps and tilapia.

Pet food is the fastest-growing application, forecast to grow at a 7.4% CAGR through 2031, driven by pet humanization trends in North America and Europe. Premium formulations highlight marine omega-3 benefits for joint and cognitive health, supporting retail prices above conventional kibble. Suppliers targeting this channel emphasize odor control and oxidative stability, enabling cross-category leverage of investments in high-grade fish oil refineries. Rising e-commerce penetration is accelerating consumer awareness, widening the addressable market for marine-enhanced pet nutrition.

Geography Analysis

Asia-Pacific accounted for 45.2% of the fishmeal and fishoil market in 2025, bolstered by China’s significant output and Vietnam’s export-oriented shrimp expansion. Recirculating systems proliferate in Japan and India, raising per-kilogram fishmeal intensity as farmers prioritize water quality. Subsidies provided by the South Korean government and feed import initiatives in Taiwan continue to support growth. Certified supplies from Peru and Norway are increasingly preferred as retailers prioritize traceability, boosting demand for premium grades in Asia-Pacific.

The Middle East is projected to post a 7.9% CAGR through 2031, anchored by Saudi Arabia’s Vision 2030 plan, which allocates funds to marine cage projects along the Red Sea. The United Arab Emirates subsidizes fishmeal imports, lowering landed costs and igniting farm expansion in Abu Dhabi and Fujairah. Turkey’s sea bass and sea bream producers upgrade diets to meet European Union market standards, while Egypt pushes desert-based recirculating systems to tap premium Gulf markets. Regional protein security priorities buffer demand against global price swings, creating a relatively inelastic customer base for certified suppliers.

South America continues to be a key supplier, with Peru exporting despite quota restrictions, while Chile focuses on domestic consumption for salmon grow-out. Norway has used salmon by-products through recycling, redirecting materials that would otherwise have been sent to landfills. The European Union’s Farm to Fork strategy demands full traceability by 2027, channeling trade toward certified Peruvian, Icelandic, and Danish suppliers. In North America, consumption is primarily concentrated in salmon farms located in British Columbia and Maine. This region benefits from the United States Food and Drug Administration's streamlined approval process for enzymatic concentrates. Emerging African aquaculture in Nigeria, Egypt, and South Africa increases imports, but infrastructure and financing gaps still limit scale.

Regulatory Landscape

Regulation is anchored in feed safety, animal by-product processing standards, and traceability requirements that shape cross-border trade in fishmeal and fish oil. In the European Union, processing and marketing conditions are framed by animal by-product rules, including definitions and processing standards for fishmeal and fish oil under Regulation (EU) 2017/786 amending Regulation (EU) No 142/2011, along with contaminant management. This includes detoxification pathways for fish oils and fishmeal that exceed dioxin/PCB limits under Regulation (EU) 2020/757. In parallel, EU feed additive authorisations and reauthorisations continue to be issued based on EFSA opinions, including a new set of Implementing Regulations in January-February 2026, tightening the compliance envelope for functional additives and processing aids used to stabilize oils and produce enzymatically treated meals.

In the United States, oversight spans feed ingredient and medicated-feed rules that shape formulations using marine ingredients and alternative proteins. The FDA published a draft revised guidance in April 2026 (GFI #91, VICH GL8 (R1)) on stability testing for medicated premixes intended for incorporation into animal feed. A February 2026 Federal Register update reflected animal drug approval actions from July to September 2025, reinforcing the cadence of regulatory updates premix and feed manufacturers must track. For exports to the EU, certification and documentation requirements managed through USDA APHIS processes, with coordination across agencies, remain a practical gate for market access, making quality systems, batch traceability, and compliant processing documentation central to supplier selection.

Market Opportunities and Future Outlook

Tighter marine-ingredient availability and higher price volatility are creating whitespace for two parallel strategies: (i) premium, certified, traceable fishmeal and fish oil lots that meet retailer and feed-mill sourcing rules, and (ii) greater diversification of supply through by-products and new processing capacity. Industry data points cited by IFFO in 2026 indicate supply-side pressure, including a reported 28% year-on-year decline in global fishmeal production in Q1 2026, with March 2026 down 38%, alongside commentary that annual output could fall below 5 million metric tons under persistent El Nino conditions. In this environment, procurement shifts toward MarinTrust and MSC-aligned, vessel-level traceable lots used by multinational buyers, and the economics support investments in hydrolysis, oxidative stabilization, and molecular distillation that convert constrained raw material into higher-spec concentrates for salmonid, shrimp, pet food, and nutraceutical channels.

A second opportunity track is the accelerating build-out of circular and alternative ingredient systems that reduce exposure to anchoveta shocks while maintaining performance in target species. By-products already represent a meaningful share of supply (35% of fishmeal and 57% of fish oil globally, and 44% and 74% in Asia), and government incentives for waste-to-protein rendering, noted in Norway, Canada, and Iceland in the report context, align with this shift by pulling salmon by-products into meal and oil streams. Commercial and scientific validation of substitutes is also expanding formulation toolkits: in January 2026, NaturAlleva and Innovafeed announced a commercial partnership to integrate BSFL ingredients into aquafeed for multiple species, and peer-reviewed trials in 2026 reported successful partial replacement of fishmeal using insect meal and single-cell protein at defined inclusion levels in finfish diets. Combined with AI-driven precision formulation already used by feed mills to adjust inclusion rates in small increments, these developments create room for differentiated marine-ingredient offerings that pair concentrated functional performance with documented sustainability and more stable quality.