| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 5.46 Billion |
| Market Size (2030) | USD 6.71 Billion |
| CAGR (2025 - 2030) | 4.20% |
| Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
South America Aqua Feed Market Analysis
The South America Aqua Feed Market size is estimated at USD 5.46 billion in 2025, and is expected to reach USD 6.71 billion by 2030, at a CAGR of 4.20% during the forecast period (2025-2030).
The aquafeed market is experiencing steady growth, propelled by increasing seafood demand and aquaculture advancements across South America. This growth is supported by rising consumer interest in high-protein diets and the expansion of commercial aquaculture. The aquafeed industry is crucial in meeting the nutritional requirements of various farmed aquatic species, including fish, shrimp, and mollusks, by providing balanced diets that promote growth, health, and sustainability.
Brazil's aquaculture sector has grown significantly, primarily due to tilapia farming and consumption. The country's status as a major producer of grains such as soybean, wheat, and corn benefits the aquatic feed industry. With aquatic feed comprising 40-50% of total production costs, companies are incentivized to develop cost-effective feed solutions to boost aquaculture in the country.
Chile's aquafeed market focuses predominantly on salmonid species and mussels. As the world's second-largest producer of salmon and Chilean mussels after Norway and China, respectively, Chile accounts for 31% of the global salmon harvest and 22% of Chilean mussel production, according to Food and Agriculture Organization (FAO) data from 2022. In the same year, Chile's aquaculture production reached 1.5 million metric tons, with fish accounting for 71%, mollusks 29%, and algae 1%. The salmon farming industry in Chile is closely linked to foreign investments, driving the use of commercial aquafeed products to increase harvest volumes. Ecuador's aquafeed market is largely driven by shrimp farming, as the country is a major exporter of shrimp to markets in Asia and North America.
Peru and Ecuador also contribute to the aquafeed market, albeit on a smaller scale. Peru's significant production of fishmeal and fish oil plays an important role in both local and regional aquatic feed markets. The specialization of each country in different aquaculture activities is increasing the demand for commercially available aquafeed products, which is expected to drive market growth in the coming years.
South America Aqua Feed Market Trends
Fish Dominates the Aqua Feed Market in the Region
South America's fish feed market is growing significantly, with Brazil, Chile, and Ecuador leading through increased fish exports. These countries are expanding their salmon and tilapia exports to meet rising global demand. The market growth is supported by tilapia's competitive pricing and nutritional advantages. Chile, a major salmon producer, has demonstrated notable growth. According to Chile's National Customs Service, the country's salmon and trout exports reached USD 6.1 billion in 2023, with the United States, Brazil, and Japan as key markets. Chilean aquaculture farmers supply salmon to major importing nations, including China, Japan, and the United States, through efficient production cycles and reduced antibiotic usage.
The decrease in antibiotic use complies with import regulations in destination markets. The growth in salmon production strengthens Chile's economy and increases fish feed demand as producers focus on expanding output and enhancing product quality. The sustained export growth across South American countries drives the regional fish feed market expansion, resulting in higher investment in feed efficiency and quality improvements to support fish sector development.
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Brazil Dominated the Market
Brazil's aquaculture sector has experienced significant growth in recent years, particularly in farmed fish production. In 2023, Brazil produced approximately 887,029 metric tons of farmed fish. Tilapia dominated this output, representing over 60% of the total with 579,080 metric tons, according to the Brazilian Aquaculture Association (Peixe BR). Tilapia is currently the fastest-growing animal protein in the country. With production authorization expanding to more states, Brazil offers an ideal environment for increased tilapia productivity.
The primary regions for tilapia farming in Brazil include São Paulo, Ceará, Minas Gerais, and Bahia. São Paulo leads the production, contributing around 30% of the total national output in 2023, primarily due to its advanced aquaculture infrastructure and technology. Ceará follows closely, supported by its extensive water resources. Indigenous species such as tambaqui, pacu, and pintado contributed 263,479 metric tons or 29.7% of overall farmed fish production. Other fish, including carp, trout, and pangasius, accounted for 44,470 metric tons, or about 5%. Paraná emerged as the largest producer, with 273,227 metric tons of total farmed fish. Regionally, the South led with 30.6% of Brazil's fish production, followed by the Northeast (27.3%), the Southeast (23.8%), and the Center-West (18.3%).
Brazil's aquaculture sector has evolved with the establishment of numerous commercial fish farms, particularly tilapia-focused operations in Paraná and Mato Grosso, and innovative offshore facilities in Bahia. This expansion aligns with the government's goal to increase fish consumption per capita in Brazil to 4.35 kg per year in 2023. The farms range from small family-run operations to large-scale commercial enterprises. Many have adopted modern technologies and practices, such as recirculating aquaculture systems (RAS), which enhance efficiency and reduce environmental impacts, consequently driving the usage of fish feeds in the country.
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South America Aqua Feed Industry Overview
In the South American aquafeed market, companies are not only competing based on product quality and promotion but are also focused on strategic moves, to hold larger market share. The market is consolidated in nature, with the presence of major players such as ADM, Cargill Inc., Alltech, Nutreco NV, and BioMar Group holding a major share in the aquaculture feed market.
South America Aqua Feed Market Leaders
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ADM
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Cargill Inc.
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Alltech
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Nutreco NV
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BioMar Group
- *Disclaimer: Major Players sorted in no particular order
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South America Aqua Feed Market News
- October 2024: Cargill has revamped its shrimp portfolio specifically for the Ecuadorian market in response to the demand for enhanced efficiency and profitability. The revised portfolio includes five product lines: Active, Advance, Adapt, Maxima, and Rapid.
- May 2023: BioMar and Agronutris have established a long-term partnership to develop advanced black soldier fly meals tailored for aquaculture. This collaboration aims to create innovative feed solutions that reduce the environmental impact of aquaculture feeds.
- October 2022: Cargill, in collaboration with its partner Naturisa S.A., has finalized an agreement with Skyvest EC Holding S.A. to establish a new joint venture. This venture aims to cater to the growing demand for premium shrimp feed from Ecuadorian shrimp farmers.
South America Aqua Feed Industry Segmentation
Aquafeed refers to feed products provided to farmed aquatic animals intended for human consumption. These feeds are primarily manufactured as pellets, with sizes tailored to specific aquatic species requirements. The market is broadly categorized by type into Fish feed (Carp Feed, Salmon Feed, Tilapia Feed, Catfish Feed, and Other Feed Types), Molluscs Feed, Crustaceans Feed (Shrimp Feed, Other Crustacean Feed), and Other Aqua Feed. The report offers the market size and forecasts in terms of value in USD and volume in metric tons for the above-mentioned segments.
| Feed Type | Fish Feed | Carp Feed | |
| Salmon Feed | |||
| Tilapia Feed | |||
| Catfish Feed | |||
| Other Feed Types | |||
| Molluscs Feed | |||
| Crustaceans Feed | Shrimp Feed | ||
| Other Crustacean Feed | |||
| Other Aqua Feed | |||
| Geography | Brazil | ||
| Peru | |||
| Chile | |||
| Argentina | |||
| Rest of South America | |||
Feed Type
| Fish Feed | Carp Feed |
| Salmon Feed | |
| Tilapia Feed | |
| Catfish Feed | |
| Other Feed Types | |
| Molluscs Feed | |
| Crustaceans Feed | Shrimp Feed |
| Other Crustacean Feed | |
| Other Aqua Feed |
Geography
| Brazil |
| Peru |
| Chile |
| Argentina |
| Rest of South America |
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South America Aqua Feed Market Research FAQs
How big is the South America Aqua Feed Market?
The South America Aqua Feed Market size is expected to reach USD 5.46 billion in 2025 and grow at a CAGR of 4.20% to reach USD 6.71 billion by 2030.
What is the current South America Aqua Feed Market size?
In 2025, the South America Aqua Feed Market size is expected to reach USD 5.46 billion.
Who are the key players in South America Aqua Feed Market?
ADM, Cargill Inc., Alltech, Nutreco NV and BioMar Group are the major companies operating in the South America Aqua Feed Market.
What years does this South America Aqua Feed Market cover, and what was the market size in 2024?
In 2024, the South America Aqua Feed Market size was estimated at USD 5.23 billion. The report covers the South America Aqua Feed Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the South America Aqua Feed Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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South America Aqua Feed Industry Report
Statistics for the 2025 South America Aqua Feed market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South America Aqua Feed analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
