Fishmeal & Fish Oil Market Report: Trends, Forecast and Competitive Analysis to 2031

The future of the global fishmeal & fish oil market looks promising with opportunities in the fertilizers, aquaculture, and pharma markets. The global fishmeal & fish oil market is expected to reach an estimated $15.9 billion by 2031 with a CAGR of 4.5% from 2025 to 2031. The major drivers for this market are rising awareness regarding the health and nutrition of livestock and pets and growing utilization of fishmeal and fish oil in the diets of swine and poultry.

• Lucintel forecasts that within the livestock application, swine is expected to witness the highest growth over the forecast period due to swine industry is experiencing rapid growth, particularly in the Asia Pacific region.
• Within the industrial application category, pharma will remain the largest segment due to favorable perception and high nutritional value of fishmeal and fish oil, coupled with increasing awareness.
• In terms of regions, APAC is expected to witness highest growth over the forecast period due to rising awareness, health-focused feed demand, and thriving aquaculture industries, especially in countries like Thailand and Vietnam.

Emerging Trends in the Fishmeal & Fish Oil Market

The trends are emerging in the fishmeal & fish oil market. These changes are occurring at a rapid pace due to trends driven by technological innovation, environmental sustainability, and changes in consumer preferences. Such trends define the marketplace, shaping and molding market dynamics related to production, consumption, and regulatory approaches. Understanding these trends is paramount for stakeholders to adapt and capitalize on new opportunities for growth within the industry.

• Sustainability initiatives: There is an increasing focus on sustainable sourcing and production methods in the fishmeal and fish oil industry. This involves ensuring there is no overfishing and the full utilization of by-products, along with the addition of environmentally friendly production methods. Sustainability programs ensure that environmental concerns are addressed and that resources are available for years to come, thereby increasing demand for certification and sustainability. The following alternative protein sources exist:
• Development of alternative protein sources: The development of alternative protein sources is accelerating, including algae-based fishmeal and plant-based ingredients. These ingredients alleviate the pressure on wild-caught fish, diminish supply constraints, and lessen environmental burdens. Innovations within the alternative protein source space will continue to improve feed efficiency and sustainability for aquaculture and livestock farming.
• Technological advances: Improvements in processing technologies are increasing the quality and yield of fishmeal and fish oil. Innovations are being made in extraction methods, preservation techniques, and overall efficient production processes. These technological improvements aim to enhance not just the nutritional value of fishmeal and fish oil but also to ensure minimal waste and lower production costs.
• Changes in regulations: The regulatory environment is becoming increasingly strict regarding sustainability, transparency, and environmental impact. New legislation addresses responsible catch, by-catch, and traceability of value chains. Since the credibility of operators in the markets is essential to their continuity, compliance with this new legislation will be a crucial factor for obtaining a license to operate with certainty in world markets.
• High-quality products demand: With the rising demand for nutritionally value-added fishmeal and fish oil products, the reasons include increased awareness about health benefits linked with omega-3 fatty acids and the demand for high-value feed ingredients by the aqua and animal feed sectors. Considering the factors mentioned above, product innovation and quality improvement will remain concerns for key players in the industry.

The above-mentioned emerging trends are entirely causing an interruption in the fishmeal & fish oil market. In short, market dynamics are driven by concerns related to sustainability, alternative protein sources, technological changes, evolving regulations, and high demand for quality products. As such, stakeholders will need to be responsive to these trends through investments in innovative technologies, embracing sustainability, and navigating the changing regulatory framework to compete and realize various growth opportunities.

Recent Developments in the Fishmeal & Fish Oil Market

Over the last few years, several new developments have taken place in the market regarding fishmeal & fish oil. These changes are indeed significant and reflect the effects of technological advancements, altered regulatory environments, and evolving market dynamics. Key recent developments outline how the industry is addressing emerging demands, considering environmental concerns, and finding new ways to improve production processes.

• Alternative protein development: Interest is growing in the development of alternative protein ingredients, such as algae-based fishmeal and plant-based ingredients. These protein sources will reduce the current reliance on wild-caught fish and help overcome supply constraints. Companies are willing to invest in research and development to enhance the efficiency and nutritional value of these alternatives, aiming to create a sustainable and resilient supply chain.
• Advances in processing technologies: Technological advancements promote better quality fishmeal and fish oil production, covering improved techniques for extraction, better preservation methods, and more efficient processing systems. This development focuses on increasing yields with minimal waste and a value-added nutritional profile to meet the growing demands for quality feed ingredients.
• Enhanced regulation: As time passes, more regulatory frameworks have been implemented, encouraging sustainability and environmental responsibility. New regulations govern responsible fishing, reduce bycatch, and increase supply chain traceability. Firms, therefore, adapt to these regulations by promoting transparency and sustainability initiatives that ensure adherence to laws and regulations, granting them access to world markets.
• Greater emphasis on sustainability: There is an increasing trend toward sustainability in the fishmeal and fish oil industry. Firms in this sector have begun to introduce environmental conservation practices, such as full utilization of by-products and the introduction of greener production methods. The drivers for sustainability include consumer demand, regulation, and the key issue of ensuring a long-term supply of raw materials.
• Aquaculture and livestock market expansions: Aquaculture and livestock production are expanding, thereby raising the demand for fishmeal and its oil. As these industries grow, the need for high-quality feed ingredients is rising to maintain health and improve growth among animals. Consequently, this has led to increased investment in production capacity and innovations to meet the growing demand for fishmeal and fish oil.

The recent trends in the fishmeal & fish oil market show that going green, technological enhancement, and compliance with regulations have gained momentum. The emphasis on alternative protein sources, new processing techniques, and enhanced regulatory development provides evidence of this sector's response to changing pressures and growing environmental concerns. Events like these will surely shape the future of this market, drive growth within it, and make the supply chain greener and more efficient.

Strategic Growth Opportunities in the Fishmeal & Fish Oil Market

The fast-growing demand for protein-intensive feeds and supplements from various industries worldwide has decisively influenced the fishmeal & fish oil market. Both fishmeal and fish oil are valued ingredients manufactured from by-products of fish processing and are used in aquaculture, animal feed, pharmaceuticals, and human health supplements. Sustainability concerns, evolving regulations, and innovations within aquaculture techniques are expected to continue driving growth in several key uses. These opportunities arise from the increasing applications in aquaculture, pet food, livestock nutrition, dietary supplements, and pharmaceuticals. This presents companies with an opportunity to exploit the advantages from improved production efficiency, alternative sources, and consumer demand for natural products with high nutrients.

• Aquaculture expansion: Increased growth in aquaculture will positively increase the need for fishmeal and fish oil since these products are key to enhancing the health, growth, and reproduction of fish. These ingredients ensure superior protein and fatty acid content compared to their plant-based replacements, thereby assuring higher returns in farmed fish production. Increasing seafood consumption, along with sustainable aquaculture, is driving up the demand for high-quality fishmeal and fish oil. New products and technologies within the aquaculture industry, embraced in feed formulation and breeding for better efficiency and sustainability, continue to be innovated. These create an excellent avenue for growth within the fishmeal and fish oil market on their own.
• Pet food industry growth: The humanization of pets and relentless desire for high-quality, nutrient-rich pet food have driven demand for fishmeal and fish oil. These ingredients are rich in omega-3 fatty acids, which enhance skin, coat, and joint health in pets. Moreover, the greater use of fish by-products in pet food formulation is attributed to health-conscious pet owners, apart from the general trend toward grain-free and natural formulations. With growing consumer awareness about balanced diets for pets, this segment presents a strategic avenue for growth among players in fishmeal and fish oil.
• Animal nutrition improvement: Fishmeal and fish oil are gaining greater use in animal feed due to their high-value protein and essential fatty acids, which improve growth rates and overall health in animals. For poultry, swine, and dairy cattle feeds, these ingredients are valued for their vital role in improving feed efficiencies and reducing the environmental footprint of farming. With emergent concerns about sustainability in animal husbandry, fish-derived products are seen as less destructive and harmful compared to conventional feeds. The emergence of sustainability in animal nutrition will create value opportunities for fishmeal and fish oil applications in the animal feed segment.
• Dietary supplements for human health: Fish oil is an established source of omega-3 fatty acids, widely recognized for cardiovascular, cognitive, and anti-inflammatory benefits. This demand results from consumer awareness about the health benefits arising from fish oil consumption. Therefore, omega-3 supplements derived from fish oil are increasingly in demand among health-conscious and aging populations, thus providing a major opportunity for fish oil producers. Innovation in product formats like capsules, powders, and functional foods further enhances growth opportunities in this application.
• Pharmaceutical applications: The pharmaceutical industry is still investigating omega-3 fatty acids, mainly for treating chronic conditions such as heart disease, arthritis, and neurological disorders. Clinical studies have shown that omega-3s reduce inflammation and maintain heart health; therefore, fish oil is being increasingly incorporated into various therapeutic formulations. This is a promising growth area, especially for fish oil manufacturers, as ongoing research continues to unravel its health benefits. Regulatory approvals, together with increasing investments in omega-3-based pharmaceuticals, demonstrate long-term potential for fish oil in the pharmaceutical industry.

The strategic growth opportunities in aquaculture, pet food, livestock nutrition, dietary supplements, and pharmaceuticals demonstrate increasing demand for sustainable, nutrient-rich ingredients within the fishmeal & fish oil market. Each of these applications represents a different route to market growth, driven by changes in production methods, the trend for health enhancement through nutrition, and a worldwide move toward sustainability. As these markets develop and mature, the fishmeal & fish oil market will be able to embrace more innovative and diversified uses, serving a wider range of sectors and applications.

Fishmeal & Fish Oil Market Driver and Challenges

Various technological, economic, and regulatory factors intersect in a multifaceted way to define the environment within which the fishmeal & fish oil market contends. Key drivers for the industry include technological advancement, increasing aquaculture and livestock industries, trends toward sustainability, global demand for high-value feeds, and new methods of alternative protein sources. The market must overcome environmental issues, disrupted supply chains, regulatory pressures, volatile raw material costs, and competitive alternatives to feed ingredients. Understanding these drivers and challenges will be important for any stakeholder wanting to navigate through changing dynamics in the fishmeal and fish oil industry.

The factors responsible for driving the fishmeal & fish oil market include:

• Technological Advancements: The fishmeal and fish oil business has continued to improve its quality and efficiency in production due to advancements in technology. Advanced extraction techniques combined with value addition in processing lead to increased yields with higher levels of nutrients and less waste. This enables producers to meet the increasing demand and enhance the competitiveness of their products. It is important to note that investments in research and development and the adoption of new technologies are crucial for relevance in the market and driving further growth.
• Increasing Aquaculture Industry: Growth in the aquaculture industry raises demand for fishmeal and fish oil, which are important ingredients in the feed for aquatic animals. Consequently, aquaculture operations will scale up to meet the demand for fish and seafood consumption, hence increasing demand for better-quality ingredients. This growth is driving investments in increasing production capacity and efficiency to supply the expanding market.
• Sustainability Trends: The increasing emphasis on sustainability and environmental responsibility has been driving changes in the fishmeal and fish oil market. Companies are adopting sustainable sourcing practices by reducing overfishing and managing resources better. These trends are supported by consumer demand for environmentally friendly products, and regulatory pressures have ensured that more investments go into sustainable practices and their certifications.
• Rising Global Demand: Increasing consumption of fish and other seafood items, coupled with expanding livestock production globally, drives demand for fishmeal and fish oil. This increased demand is sustained further by the nutritional benefits associated with fish oil and protein-rich feed ingredients. Manufacturing capacity is being extended, with fresh capacity entering the market to meet demand.
• Innovations in Alternative Protein Sources: Replacements for fishmeal protein are also in development, either in the form of algae or plant proteins. This directly addresses supply concerns and the environmental issues associated with traditional fishmeal. Advancements in these areas create possibilities for product diversification and a reduction in reliance on wild-caught fish species, further facilitating market growth and sustainability.

Challenges in the fishmeal & fish oil market are:

• Environmental Issues: Other factors impeding growth in the fishmeal and fish oil market include environmental issues such as overfishing and habitat destruction. Resources must be managed sustainably, with environmental impacts kept to a minimum, if long-term viability is to be achieved. Investments will be required for mitigation in various eco-friendly measures and observance of regulatory standards regarding the health of marine ecosystems.
• Supply Chain Disruptions: Supply chain disruptions, including fluctuations in raw material availability and transportation challenges, can impact fishmeal and fish oil production. Issues such as geopolitical tensions, natural disasters, and logistical problems affect the stability and cost of supply chains. Companies must develop strategies to mitigate these risks and ensure consistent production and delivery.
• Regulatory Pressures: More stringent regulatory policies regarding sustainability, environmental protection, and food safety also act as obstacles to growth in the fishmeal and fish oil market. Similarly, to comply with changing regulatory obligations, investments in technology, certification, and reporting are needed. In such cases, it is a significant challenge for any industry player to tactfully handle regulatory environments without compromising operational efficiency and profitability.

The market for fishmeal & fish oil is interconnected with diverse kinds of drivers and challenges. These factors spur market growth, from technological advances and increasing demand for aquaculture to sustainability trends, rising global consumption, and innovations in alternative proteins. On the other hand, challenges driven by environmental concerns, supply chain disruptions, and regulatory pressures prominently drive the pace of change. It is these drivers and challenges that need to be balanced for the sustainable growth of stakeholders in the evolving market dynamics. The focus should be on technological innovation, sustainable practices, and effective risk management to deconstruct these complexities and tap into emerging opportunities.

List of Fishmeal & Fish Oil Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. through these strategies fishmeal & fish oil companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the fishmeal & fish oil companies profiled in this report include-

• FKS Multi Agro
• Mukka Proteins
• Arbee
• Sandakan Fishmeal
• Wudi Deda Agriculture
• Raj Fishmeal and Oil Company
• Asia Fish Oil
• Dai Thanh Seafoods
• Pattani Fish Meal
• Austevoll Seafood

Fishmeal & Fish Oil by Segment

The study includes a forecast for the global fishmeal & fish oil by livestock application, type, source, industrial application, and region.

Fishmeal & Fish Oil Market by Livestock Application [Analysis by Value from 2019 to 2031]:

• Aquatic Animals
• Swine
• Poultry
• Cattle
• Pets

Fishmeal & Fish Oil Market by Type [Analysis by Value from 2019 to 2031]:

• Fishmeal
• Fish Oil

Fishmeal & Fish Oil Market by Source [Analysis by Value from 2019 to 2031]:

• Salmon & Trout
• Marine Fish
• Crustaceans
• Tilapia
• Carps
• Other

Fishmeal & Fish Oil Market by Industrial Application [Analysis by Value from 2019 to 2031]:

• Fertilizers
• Aquaculture
• Pharma
• Others

Fishmeal & Fish Oil Market by Region [Analysis by Value from 2019 to 2031]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

Country Wise Outlook for the Fishmeal & Fish Oil Market

In the development of global demand, technological advancements, and regulatory modifications, more changes are seen in the fishmeal & fish oil market. This is generally a very important sector concerning animal feed, aquaculture, and human nutrition, where the development of sustainability, production efficiency, and market dynamics is of utmost importance. The summaries below provide insight into recent advancements in key markets such as the United States, Chinese, German, and Japanese markets.

• United States: Due to the growth of the U.S. market toward sustainability and newer sources of protein, the fishmeal & fish oil market has seen a greater focus on sustainability and alternative protein sources. New technologies for fishmeal production are being developed, including production with by-products and plant-based ingredients, to reduce dependence on wild-caught fish. Meanwhile, improvements in extraction technologies continue to develop methods that enhance the yield and quality of fish oil. Regulatory pressure for value-chain transparency and ecologically friendly operations encourages investments in responsible fisheries and sustainability certifications.
• Chinese: China continues to be a major player in the fishmeal & fish oil market, with its ever-growing aquaculture industry driving demand. Recent developments include high-quality fishmeal and fish oil production to meet the requirements of its expanding aquaculture operations. China also continues to pay attention to feed efficiency and its impact on the environment, enhancing production technology and increasing the application of sustainable practices. All this is done in the face of higher domestic production to decrease imports.
• Germany: At the forefront of technological innovations within the value chain of fishmeal & fish oil, Germany is investing in value addition through advanced processing techniques to enhance nutritional value. Emphasis is placed more on sustainability as Germany tightens its regulations and creates practices that reduce environmental impact. Indeed, this trend toward greener and more responsible sourcing is driven by government policies, coupled with industrial responses to decrease overfishing and foster patterns for a circular economy.
• India is a fast-growing sector with aquaculture expansion, poultry farming, and the entire value chain. Recent updates in this industry include bringing more efficiency to production and improving the availability of fishmeal and fish oil in recent years. India is trying to find alternative sources of fishmeal, including algae-based fishmeal, to meet supply gaps that arise from ecological concerns. The government is framing policies to support the sector in improving production capacities and finding sustainable practices
• Japan is strategically focusing on high-grade fishmeal & fish oil products in view of the aqua-feed and animal feed markets. Recent achievements include adopting the latest standards for processing and sourcing raw materials. Japan is also investing in research into ways to enhance the nutritional profiles of fishmeal and fish oil. Protection of the environment and responsible fishing methods will be ensured, with tightening regulations to meet global concepts of sustainability.

Features of the Global Fishmeal & Fish Oil Market

• Market Size Estimates: Fishmeal & fish oil market size estimation in terms of value ($B).
• Trend and Forecast Analysis: Market trends (2019 to 2024) and forecast (2025 to 2031) by various segments and regions.
• Segmentation Analysis: Fishmeal & fish oil market size by various segments, such as by livestock application, type, source, industrial application, and region in terms of value ($B).
• Regional Analysis: Fishmeal & fish oil market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different livestock application, type, source, industrial application, and regions for the fishmeal & fish oil market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape of the fishmeal & fish oil market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

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This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the fishmeal & fish oil market by livestock application (aquatic animals, swine, poultry, cattle, and pets), type (fishmeal and fish oil), source (salmon & trout, marine fish, crustaceans, tilapia, carps, and other), industrial application (fertilizers, aquaculture, pharma, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?