Global Fishmeal Market Size study, by Source, Livestock, Application and Regional Forecasts 2022-2032

Global Fishmeal Market is valued approximately at USD 9.68 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 6.28% over the forecast period 2024-2032. As the world navigates the challenges of food security, environmental preservation, and livestock productivity, fishmeal emerges as a high-value commodity that bridges nutritional efficacy and sustainability. Extracted predominantly from nutrient-dense marine species like anchovy, sardines, and mackerel, as well as aquaculture byproducts, fishmeal is lauded for its rich protein content, essential amino acids, and omega-3 fatty acids. It is indispensable in animal nutrition-particularly aquafeed-where performance, digestibility, and feed conversion ratios are critical success factors. With growing consumer appetite for protein, especially seafood, and an expanding global aquaculture industry, fishmeal is reclaiming prominence as a key functional ingredient.

A surge in demand for high-performance animal feed formulations, driven by growing meat and seafood consumption, is fueling fishmeal market expansion. The aquaculture sector-especially salmon, trout, and tilapia farming-remains the largest end user, as fishmeal supports rapid growth rates, immune response, and reproduction efficiency. At the same time, poultry and swine producers are reintroducing fishmeal as a superior supplement, seeking to enhance nutrient density amid reduced antibiotic usage. Fertilizer applications are also picking up steam, where organic and bio-based fertilizers fortified with fishmeal are being embraced in regenerative agriculture for their soil-enhancing properties. Additionally, fishmeal's global supply chain is being reinforced through improved fishery management practices, byproduct valorization, and circular economy models.

Technological strides in fishmeal processing-such as low-temperature rendering, enzymatic hydrolysis, and fractionation-are revolutionizing its value proposition. These innovations help retain nutrient integrity, reduce anti-nutritional factors, and create specialty fishmeal variants tailored to species-specific nutritional profiles. Furthermore, investments in digital traceability and sustainability certifications, including IFFO RS (Responsible Supply) and Marine Stewardship Council (MSC) labeling, are enhancing transparency and trust within the supply chain. As manufacturers prioritize ethical sourcing and carbon footprint reduction, fishmeal is finding favor among eco-conscious producers and retailers targeting premium, certified animal protein products.

Geographically, Asia Pacific dominates the global fishmeal market, driven by massive aquaculture output and feed demand in China, Vietnam, India, and Indonesia. This region's growth is reinforced by government-supported fisheries and shifting dietary trends toward high-protein seafood. Europe follows with a strong presence of certified fishmeal production and robust salmon farming industries in Norway and the UK. North America is expanding steadily with technological upgrades and diversification into pet food and organic fertilizer sectors. Latin America, particularly Peru and Chile, remains a critical supplier, while the Middle East & Africa are emerging as new growth territories, benefiting from rising aquaculture investments and protein self-sufficiency initiatives.

Major market player included in this report are:

• BioMar Group
• Copeinca ASA
• GC Rieber Oils AS
• Croda International PLC
• Austevoll Seafood ASA
• Scoular Company
• Oceana Group Limited
• Pelagia AS
• TASA (Tecnologica de Alimentos S.A.)
• TripleNine Group A/S
• Sursan
• FF Skagen A/S
• Omega Protein Corporation
• Pesquera Exalmar S.A.A
• Havsbrun

The detailed segments and sub-segment of the market are explained below:

By Source

• Salmon & Trout
• Marine Fish
• Crustaceans
• Tilapia
• Others

By Livestock

• Ruminants
• Poultry
• Swine
• Aquatic Animals
• Others

By Application

• Fertilizers
• Animal Feed
• Others

By Region:

• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Years considered for the study are as follows:

• Historical year - 2022
• Base year - 2023
• Forecast period - 2024 to 2032

Key Takeaways:

• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.