| Study Period | 2019 - 2030 |
| Market Size (2025) | USD 55.33 Billion |
| Market Size (2030) | USD 70.95 Billion |
| CAGR (2025 - 2030) | 5.10% |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Aquafeed Market Analysis
The Aquafeed Market size is estimated at USD 55.33 billion in 2025, and is expected to reach USD 70.95 billion by 2030, at a CAGR of 5.10% during the forecast period (2025-2030).
Aquafeed is essential in modern aquaculture operations, providing immune-resistant properties, nutritional benefits, and growth-promoting characteristics. Commercial aquafeed offers advantages for mollusks, fish, crustaceans, and other aquatic species over farm-made feed through its balanced composition and species-specific nutritional profiles. According to the Ministry of Fisheries, Oceans, and the Canadian Coast Guard, salmon fish production increased from 115.18 metric tons in 2022 to 148.00 metric tons in 2023, contributing to aquafeed market growth.
Global consumption patterns show an increase in fish consumption compared to traditional protein sources like cattle and poultry products. This change stems from the wider availability of fish varieties in retail markets and their health benefits, including cognitive development in children, reduced body fat levels, and lower cardiovascular disease risks. The market is driven by sustainable feeding requirements and ongoing innovations. In 2022, the EU launched the FEEDACTIV project to develop aquaculture feed using natural bioactive compounds to enhance farmed fish immunity and reduce annual costs.
Governments worldwide have implemented initiatives and programs to promote high-quality feed adoption in aquaculture operations. The Government of India allocated ₹2,118.47 crore (USD 244 million) to the Department of Fisheries in the Union Budget 2023-24, a 73.52% increase from the previous year's ₹1,220.84 crore (USD 140 million). This funding supports fisheries development programs across marine fishery, mariculture, and aquaculture operations. These measures have improved the production capacity and quality of aquatic species, particularly fish and shrimp, for human consumption.
Aquafeed Market Trends
Shrimp Feed Emerging as the Fastest Growing Segment
The global aquafeed market is witnessing significant growth, with shrimp feed emerging as the fastest-growing segment. This expansion is driven by rising shrimp consumption, increased aquaculture production, and advancements in feed formulations. The demand for high-quality shrimp feed is further fueled by the need to enhance growth rates, improve feed conversion efficiency, and ensure disease resistance. As shrimp farming intensifies, especially in key producing regions such as China, India, Vietnam, and Ecuador, the market for shrimp feed continues to expand. In 2022, the shrimp production in Vietnam was 1.15 million metric tons, which grew to 1.21 million metric tons, as per the General Statistics Office of Vietnam.
The rapid growth of the shrimp feed segment is primarily driven by the increasing global demand for shrimp as a protein source. Shrimp is widely consumed due to its high nutritional value, low fat content, and rich protein composition. Countries such as the U.S., Japan, and various European nations import large quantities of farmed shrimp, prompting aquaculture producers to boost production. In April 2023, East Coast Seafood, located in New Bedford, Massachusetts, US, collaborated with Whitecap International Seafood from St. John's, Newfoundland, Canada, to develop and promote shrimp products for retail markets throughout North America, further driving the market.
Government initiatives and regulations promoting sustainable aquaculture have strengthened the shrimp feed market. Research and development investments in nutrigenomics and precision nutrition have enabled feed companies to formulate species-specific diets that enhance shrimp growth while minimizing environmental impact. In 2023, the Shrimp tech platform Indonesia JALA raised USD 13 million to strengthen farming by providing comprehensive solutions that streamline the shrimp farming process. Additionally, Hendrix Genetics Aquaculture B.V. and Japfa have formed a joint venture to establish a shrimp Broodstock Multiplication Centre in Indonesia, which is anticipated to boost the country's shrimp feed production.
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Asia-Pacific dominates the Aquafeed Market
The increase in fish consumption across Asian countries stems from a large, growing, and increasingly urban population. The World Bank forecasts that Asian countries will account for 70% of global fish consumption by 2030. According to the OECD, China contributes 38% of worldwide seafood consumption. China and other countries in Asia-Pacific are investing in aquaculture industry development to meet the growing aquafeed demand. The Australian Department of Agriculture, Fisheries, and Forestry projects that aquaculture production volume will reach 300,000.0 metric tons by 2027-28.
The region's aquaculture production employs intensive and technically advanced methods. Investments in the aquaculture sector and government initiatives promoting sustainable practices have enabled the Asian market to implement scientific aquaculture management practices (SAMP). The Vietnamese government aims to increase organic aquaculture to 0.5-1.5% of total aquaculture production by 2030, responding to international demand for organic products. In December 2022, Flylab secured USD 1 million in funding to expand its pilot facility in northern Thailand for producing insect meals for aquafeed manufacturing. Furthermore, India's PMMSY aims to address production gaps, enhance post-harvest infrastructure, and modernize the aquaculture value chain, including aquafeed production. Achieving PMMSY goals requires approximately 20.2 million metric tons of aquafeed for inland aquaculture annually, further drives the market.
More than half of the domestic production in Vietnam, Thailand, the Philippines, India, and Indonesia targets European and North American markets. The regional aquafeed industry grows through expanding aquaculture operations and increased seafood demand. According to Alltech Feed Survey data, Asia-Pacific produced 35.7 million metric tons of aquafeed in 2023. The regional market includes numerous feed manufacturers, both local and global, competing for market share. This market structure is anticipated to drive aquafeed demand throughout the forecast period.
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Aquafeed Industry Overview
The aquafeed market is consolidated, with major players holding a significant market share. Cargill Incorporated, Charoen Pokphand Group, Aller Aqua A/S, BioMar A/S, and Nutreco NV are the major players in the market. The players are investing in new products and improvisation of products, partnerships, expansions, and acquisitions for business expansions.
Aquafeed Market Leaders
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BioMar A/S
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Aller Aqua A/S
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Cargill Inc.
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Nutreco NV
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Charoen Pokphand Foods PCL.
- *Disclaimer: Major Players sorted in no particular order
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Aquafeed Market News
- September 2023: The United States Government pledged USD 200 million to support tribally led salmon reintroduction efforts in the Upper Columbia River Basin. Such initiatives taken in the region are anticipated to encourage aquaculture producers to utilize high-quality aquafeed, which in turn will support the growth of the studied market.
- November 2022: Skretting opened its new fish feed factory, Lotus II, in Vietnam. The fish feed factory consists of two independent lines with a production capacity of 100,000 metric tons per year.
- November 2022: De Heus opened its fourth feed facility in Indonesia. The feed mill is on an area of five hectares in PIER Pasuruan, East Java, with an annual production capacity of 300,000 metric tons.
Aquafeed Industry Segmentation
Aquafeed is a mixture of raw materials, additives, and other supplements, sourced from natural or synthetic sources and fed to farmed fish. The Aquafeed Market is segmented by type (fish feed (carp feed, salmon feed, tilapia feed, catfish feed, and other fish feed), mollusk feed, crustacean feed (shrimp feed and other crustacean feed), and other aquafeed) and geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The report offers the market size and forecasts in value (USD) for all the above segments.
| Type | Fish Feed | Carp Feed | |
| Salmon Feed | |||
| Tilapia Feed | |||
| Catfish Feed | |||
| Other Fish Feed | |||
| Mollusk Feed | |||
| Crustacean Feed | Shrimp Feed | ||
| Other Crustacean Feed | |||
| Other Aquafeed | |||
| Geography | North America | United States | |
| Canada | |||
| Mexico | |||
| Rest of North America | |||
| Europe | Spain | ||
| United Kingdom | |||
| France | |||
| Germany | |||
| Russia | |||
| Italy | |||
| Rest of Europe | |||
| Asia-Pacific | China | ||
| India | |||
| Japan | |||
| Thailand | |||
| Vietnam | |||
| Australia | |||
| Rest of Asia-Pacific | |||
| South America | Brazil | ||
| Argentina | |||
| Rest of South America | |||
| Middle-East and Africa | South Africa | ||
| Egypt | |||
| Rest of Middle-East and Africa | |||
Type
| Fish Feed | Carp Feed |
| Salmon Feed | |
| Tilapia Feed | |
| Catfish Feed | |
| Other Fish Feed | |
| Mollusk Feed | |
| Crustacean Feed | Shrimp Feed |
| Other Crustacean Feed | |
| Other Aquafeed |
Geography
| North America | United States |
| Canada | |
| Mexico | |
| Rest of North America | |
| Europe | Spain |
| United Kingdom | |
| France | |
| Germany | |
| Russia | |
| Italy | |
| Rest of Europe | |
| Asia-Pacific | China |
| India | |
| Japan | |
| Thailand | |
| Vietnam | |
| Australia | |
| Rest of Asia-Pacific | |
| South America | Brazil |
| Argentina | |
| Rest of South America | |
| Middle-East and Africa | South Africa |
| Egypt | |
| Rest of Middle-East and Africa |
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Aquafeed Market Research FAQs
How big is the Aquafeed Market?
The Aquafeed Market size is expected to reach USD 55.33 billion in 2025 and grow at a CAGR of 5.10% to reach USD 70.95 billion by 2030.
What is the current Aquafeed Market size?
In 2025, the Aquafeed Market size is expected to reach USD 55.33 billion.
Who are the key players in Aquafeed Market?
BioMar A/S, Aller Aqua A/S, Cargill Inc., Nutreco NV and Charoen Pokphand Foods PCL. are the major companies operating in the Aquafeed Market.
Which is the fastest growing region in Aquafeed Market?
North America is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Aquafeed Market?
In 2025, the Asia Pacific accounts for the largest market share in Aquafeed Market.
What years does this Aquafeed Market cover, and what was the market size in 2024?
In 2024, the Aquafeed Market size was estimated at USD 52.51 billion. The report covers the Aquafeed Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Aquafeed Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Aquafeed Industry Report
The global aquafeed market is segmented by type into fish feed, mollusk feed, crustacean feed, and other aquafeed. The fish feed segment includes carp feed, salmon feed, tilapia feed, catfish feed, and other fish feed. The market is also segmented by geography, covering North America, Europe, Asia-Pacific, South America, and the Middle-East and Africa. The report offers insights into the market size and provides forecasts in value for all these segments.
The industry analysis reveals significant market growth, driven by the increasing demand for aquafeed across various regions. The market forecast indicates a positive outlook, with key market trends contributing to the expansion of the aquafeed industry. The report also highlights the market share of different segments and provides a comprehensive market overview.
Industry reports suggest that the market leaders are focusing on innovative strategies to capture a larger market share. The market review includes detailed industry research and industry statistics, offering valuable market data for stakeholders. The industry information is supported by a market forecast that predicts continued growth in the coming years.
The market segmentation covers various types of aquafeed, providing a detailed market analysis for each segment. The industry outlook is optimistic, with market predictions indicating robust growth. The report example provided in the form of a report PDF offers a thorough market review, including industry trends and market value.
In summary, the global aquafeed market is poised for significant growth, supported by comprehensive industry research and market data. The market outlook remains positive, with industry leaders driving innovation and expansion. The report provides valuable insights into the market size, growth rate, and market segmentation, making it an essential resource for understanding the aquafeed industry's future trajectory.
