Key Insights

The global fishmeal and fish oil market, valued at $8.28 billion in 2025, is projected to experience robust growth, driven by increasing demand from the aquaculture and pet food industries. The compound annual growth rate (CAGR) of 11.93% from 2025 to 2033 reflects a significant expansion fueled by several key factors. Rising global populations and increasing per capita consumption of fish and seafood are major contributors. Furthermore, the growing preference for protein-rich diets and the rising popularity of pet ownership are bolstering demand for fishmeal and fish oil as essential ingredients in animal feed. The aquaculture sector, particularly the farming of salmon, trout, and crustaceans, is a significant driver, relying heavily on these products for feed formulations. Technological advancements in fish processing and the development of sustainable aquaculture practices are also contributing to market expansion. However, challenges remain, including fluctuating raw material prices, concerns about overfishing and sustainability, and stringent regulations regarding the sourcing and processing of fishmeal and fish oil. Market segmentation reveals that salmon and trout species dominate the fishmeal segment, while the poultry and swine feed applications are the largest consumers of both fishmeal and fish oil. Geographic analysis shows a strong presence across North America, Europe, and the Asia-Pacific region, with each area exhibiting unique market dynamics shaped by local consumption habits and aquaculture production levels. Competition within the market is intense, with both large multinational corporations and smaller regional players vying for market share.

The forecast period (2025-2033) anticipates continued expansion, though the growth rate may moderate slightly in later years due to market saturation and potential supply chain constraints. Innovation in sustainable sourcing and processing will likely be critical for long-term market success. Companies are increasingly focused on traceability and transparency to address consumer concerns about sustainability. Investment in research and development of alternative protein sources and more efficient feed formulations may also influence future market dynamics. The diverse range of applications and the fundamental role of fishmeal and fish oil in animal feed production suggest continued growth, albeit with ongoing adjustments to address sustainability and supply chain vulnerabilities. Regional variations will continue, influenced by economic development, aquaculture production capabilities, and evolving dietary preferences within each geographic area.

Fishmeal and Fish Oil Market Report: 2019-2033

This comprehensive report provides an in-depth analysis of the global fishmeal and fish oil market, covering the period from 2019 to 2033. It offers actionable insights into market dynamics, competitive landscape, growth drivers, and future trends, empowering businesses to make informed strategic decisions. The report utilizes data from 2019-2024 (historical period), with a base year of 2025 and a forecast period extending to 2033. The market size is presented in Millions of USD.

Fishmeal And Fishoil Market Market Structure & Competitive Dynamics

The fishmeal and fish oil market exhibits a moderately concentrated structure, with several key players holding significant market share. Market concentration is influenced by factors including economies of scale in production, access to raw materials, and global distribution networks. The competitive landscape is characterized by intense rivalry, particularly among the leading producers, focusing on innovation, efficiency, and sustainable practices. The market witnesses frequent mergers and acquisitions (M&A) activities, driven by expansion strategies and consolidation efforts. Recent deals include the USD 40 Million investment by the IDB in Pesquera Exalmar (January 2023) and Pelagia’s acquisition of Norsk Fiskeindustri Invest AS (March 2022). These M&A activities often result in significant market share shifts and influence pricing strategies. Innovation plays a crucial role, with companies constantly seeking to improve production efficiency, reduce environmental impact, and develop value-added products. Regulatory frameworks, particularly concerning sustainable fishing practices and environmental protection, exert a significant influence on market dynamics. Product substitutes, such as plant-based protein sources and synthetic oils, are gaining traction, although they currently represent a smaller portion of the overall market. End-user trends, particularly concerning consumer demand for sustainably sourced ingredients, are shaping product development and marketing strategies.

• Market Concentration: xx% (estimated) held by top 5 players.
• M&A Activity: xx number of deals in the past 5 years, with a total deal value of approximately xx Million USD.
• Key Players Market Share (Estimated 2025): Pelagia (xx%), Pesquera Exalmar (xx%), Austral Group (xx%), Triplenine Group (xx%), others (xx%).

Fishmeal And Fishoil Market Industry Trends & Insights

The fishmeal and fish oil market is experiencing significant growth, driven by increasing global demand for aquaculture feeds and animal protein sources. The Compound Annual Growth Rate (CAGR) during the forecast period (2025-2033) is projected to be xx%. Technological advancements in processing and production are leading to increased efficiency and improved product quality. Growing consumer awareness of sustainability is pushing the industry towards more responsible and eco-friendly practices. The market is witnessing a shift towards value-added products and specialized formulations catering to specific dietary and nutritional needs. Competitive dynamics are shaping pricing strategies, product differentiation, and market penetration. Increased competition from alternative protein sources is prompting innovation and strategic alliances within the industry. Market penetration for sustainably sourced fishmeal and fish oil is steadily increasing, reflecting growing consumer preference.

Dominant Markets & Segments in Fishmeal And Fishoil Market

The fishmeal and fish oil market is geographically diverse, with significant presence across various regions. However, the Asia-Pacific region, particularly countries like China and Southeast Asia, presents the largest and fastest-growing market due to the rapid expansion of aquaculture and livestock industries. Within the species type segment, salmon and trout dominate due to their high market value and significant demand. In terms of application, the poultry segment holds a substantial share, followed by aquaculture and swine.

• Leading Region: Asia-Pacific
• Key Drivers for Asia-Pacific Dominance: Rapid growth of aquaculture, increasing livestock population, favorable government policies promoting aquaculture and livestock production, growing demand for protein-rich food.
• Dominant Species Type: Salmon & Trout (High demand driven by aquaculture)
• Dominant Application: Poultry (High consumption in Asia and growing demand globally)

Fishmeal And Fishoil Market Product Innovations

Recent innovations include the development of high-quality, standardized products, improved processing technologies that enhance oil extraction efficiency and reduce waste, and the creation of value-added products with tailored nutritional profiles for specific applications, aligning with evolving market trends. Technological advancements in fishmeal and fish oil processing have led to better yield, reduced environmental footprint and higher quality products. This has positioned the industry for sustained growth and increased competitiveness.

Report Segmentation & Scope

Species Type: Salmon & trout, Crustaceans, Marine fish, Carps, Tilapias, Others. Each segment is analyzed based on its market size, growth rate, and key competitive dynamics.

Application: Poultry, Swine, Pets, Aquatic animals, Others. Growth projections, market sizes, and competitive landscapes are detailed for each application segment. The report provides a comprehensive breakdown of each market segment, highlighting growth projections, market sizes, and competitive dynamics.

Key Drivers of Fishmeal And Fishoil Market Growth

The growth of the fishmeal and fish oil market is primarily driven by the expanding aquaculture industry, rising global demand for animal feed, and increasing consumer preference for protein-rich diets. Technological advancements in processing techniques, improved sustainability initiatives, and favorable government policies promoting sustainable fishing practices further boost market growth.

Challenges in the Fishmeal And Fishoil Market Sector

The fishmeal and fish oil market faces challenges including fluctuating raw material prices, concerns regarding overfishing and sustainability, and increasing competition from alternative protein sources. Stricter regulatory frameworks and environmental concerns pose further challenges, demanding greater sustainability and traceability across the supply chain. These factors can lead to supply chain disruptions and affect market stability.

Leading Players in the Fishmeal And Fishoil Market Market

• Pelagia
• Pesquera Exalmar S.A.A
• Austral Group S.A.A
• Triplenine Group A/S
• Pesquera Diamante SA
• Omega Protein Corporation
• The Scoular Company
• Copeinca
• Oceana Group Limited
• FF Skagen

Key Developments in Fishmeal And Fishoil Market Sector

• March 2022: Pelagia purchased 100% of the shares in Norsk Fiskeindustri Invest AS (NFI).
• March 2022: Scoular opened a new fishmeal facility in Myanmar.
• January 2023: IDB invested USD 40 Million in Pesquera Exalmar.

Strategic Fishmeal And Fishoil Market Market Outlook

The fishmeal and fish oil market holds significant future potential, driven by growing demand from aquaculture and other sectors. Strategic opportunities exist in developing sustainable and traceable sourcing practices, investing in advanced processing technologies, and expanding into high-value product segments. Focusing on innovation, sustainability, and efficient supply chains will be critical for success in this dynamic market.

Fishmeal And Fishoil Market Segmentation

• 1. Species Type
  • 1.1. Salmon & trout
  • 1.2. Crustaceans
  • 1.3. Marine fish
  • 1.4. Carps
  • 1.5. Tilapias
  • 1.6. Others
• 2. Application
  • 2.1. Poultry
  • 2.2. Swine
  • 2.3. Pets
  • 2.4. Aquatic animals
  • 2.5. Others

Fishmeal And Fishoil Market Segmentation By Geography

• 1. North America
  • 1.1. United States
  • 1.2. Canada
  • 1.3. Mexico
  • 1.4. Rest of North America
• 2. Europe
  • 2.1. Germany
  • 2.2. United Kingdom
  • 2.3. France
  • 2.4. Russia
  • 2.5. Spain
  • 2.6. Norway
  • 2.7. Rest of Europe
• 3. Asia Pacific
  • 3.1. China
  • 3.2. Japan
  • 3.3. India
  • 3.4. South Korea
  • 3.5. Rest of Asia Pacific
• 4. South America
  • 4.1. Brazil
  • 4.2. Argentina
  • 4.3. Rest of South America
• 5. Middle East and Africa
  • 5.1. United Arab Emirates
  • 5.2. Saudi Arabia
  • 5.3. South Africa
  • 5.4. Egypt
  • 5.5. Rest of Middle East and Africa