Report

Aquafeed Market Analysis

The aquafeed market attained a value of USD 57.2 billion in 2025 and is projected to reach USD 73.7 billion by 2030, exhibiting a CAGR of 5.2%. The market expansion is attributed to aquaculture's position as the primary fish protein source for more than 3 billion people, which necessitates that feed manufacturers increase production while maintaining ingredient sustainability. The constraints in fish meal supply, advancements in insect, algal, and single-cell proteins, and implementation of AI-enabled precision feeding are influencing production costs, feed conversion ratios, and ingredient procurement strategies. The Asia-Pacific region's consolidated production facilities, with China's production volume of 58.1 million metric tons in 2023, facilitate operational efficiency but increase susceptibility to disease outbreaks and climate-related disruptions. The growth of Ecuador's shrimp exports and the EU's antibiotic regulations generate market opportunities for functional and medicated feeds. The market demonstrates moderate competition, with major companies pursuing vertical integration while specialized firms develop alternative proteins and probiotics to minimize fish-meal dependency.

Global Aquafeed Market Trends and Insights



Rising Global Seafood Consumption

Aquaculture contributes 46% of total fish output, with China's per-capita seafood consumption reaching 14.9 kg in 2024, establishing a stable demand foundation for the aquafeed market. Middle-income economies represent the primary source of increased demand as consumers diversify their protein sources toward fish. The post-pandemic emphasis on health has increased seafood consumption in household diets, while e-commerce platforms have enhanced access to premium farmed species in urban areas. According to Rabobank, China is projected to generate 40% of additional seafood demand by 2030, representing USD 29 billion in import requirements. This growth pattern requires feed manufacturers to increase production volumes while addressing marine ingredient sustainability concerns, driving investments in alternative proteins and efficiency-enhancing feed additives.

Export-Oriented Aquaculture Expansion

Producers increasingly target international price premiums rather than local demand. Ecuador's shrimp output increased from 40,000 metric tons in 2000 to 1.2 million metric tons in 2023, a change that increases feed volumes while making operations more vulnerable to input costs and disease outbreaks. Saudi Arabia targets 600,000 metric tons of farmed seafood by 2030 under its food-security initiatives, supported by Cargill's collaboration with ARASCO and NEOM. The focus on exports drives the adoption of functional additives that enhance product shelf life and color to meet international buyer requirements. In the aquafeed market, suppliers differentiate themselves through specialized nutrition profiles designed for premium export grades.

Volatile Fish Meal and Fish Oil Prices

Peru, which accounts for 20% of global fish meal production, experienced a significant disruption when El Nino events reduced the 2023 catch to 25% of the quota, resulting in a USD 1.4 billion revenue decline and elevated raw-material costs. Although 2024 demonstrated recovery with landings reaching 98% of the 2.48 million metric tons quota, supply uncertainties persist in the market. In response, manufacturers have implemented higher inventory levels or incorporated alternative proteins. China's periodic fishing restrictions increase its import requirements and generate temporary price increases, affecting processor margins. The market experiences additional volatility as increased soymeal prices can drive fishmeal demand, creating a cyclical pattern of input-cost fluctuations in the aquafeed market.

Other drivers and restraints analyzed in the detailed report include:

Advanced Feed-Formulation Technologies / Demand for Functional/Medicated Feeds / Antibiotic-Use Regulatory Tightening /

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Carp feed dominated the aquafeed market with a 23% share in 2024, supported by extensive Asian pond systems that utilize large volumes of low-protein feed. Salmon feed secured the second position by value, reflecting the high costs of lipids and pigments needed for export-quality fillets. Tilapia feed consumption increased significantly in Africa and Southeast Asia, supported by the fish's adaptability to diverse water conditions. Catfish feed demand remained stable in North America, supported by established feed mills near soybean meal production centers. Shrimp feed demonstrates the highest growth rate at 8.6% CAGR, driven by increased production in Ecuador, India, and Vietnam for export markets. The intensification of vannamei shrimp farming increases the requirements for dense pellets and functional additives. Mollusk feed occupies a small market segment as these species primarily consume natural plankton, though specialized hatchery micro-diets present a limited opportunity. Disease outbreaks and environmental stress across species drive increased usage of immune-enhancing additives, highlighting the importance of health-focused formulations in aquafeed.

High-end shrimp feed formulations include microencapsulated astaxanthin and probiotics to enhance coloration and digestive health, commanding premium prices in European and U.S. markets. Carp feed manufacturers focus on reducing the cost per kilogram through increased use of fermented grain by-products. Tilapia feed development explores insect meal incorporation at 10% levels to optimize protein content and cost efficiency. Salmon producers in Norway and Chile implement AI-based camera systems to optimize feed distribution based on fish feeding behavior, reducing waste and environmental impact. The diversification across species protects manufacturers from market-specific disruptions while increasing formulation complexity and research requirements.

Fish meal and fish oil maintained a 37% share in 2024, due to their superior digestibility and amino acid profile. However, the aquafeed market experiences persistent supply constraints, driving the adoption of plant concentrates and microbial proteins. Cereals and grains provide energy and binding properties, though increasing maize prices affect profit margins. Oilseeds and pulses offer cost-effective protein sources but require enzyme supplementation to address anti-nutritional factors. Additives, including antioxidants and emulsifiers, enhance pellet stability and feed palatability.

Novel proteins are growing at a 14.6% CAGR, driven by the expansion of insect-meal production facilities in Europe and single-cell protein plants in China. Calysseo's 20,000 metric tons FeedKind facility demonstrates the industrial-scale production of microbial protein now incorporated into salmon and shrimp feeds. Insect meal usage increases following EU regulations permitting its application across all farmed fish species. Algal oils serve as partial substitutes for fish oil in providing essential fatty acids, reducing dependence on Peruvian anchovy catches. While achieving cost parity with fish meal remains challenging, lower carbon footprint benefits enable producers to access sustainability-linked financing. The diversification of ingredients reduces price volatility and establishes a foundation for sustainable, climate-resilient supply chains.

The Aquafeed Market Report is Segmented by Species (Fish Feed, Mollusk Feed, and More), by Ingredient (Cereals and Grains, Oilseeds and Pulses, and More), by Additive Type (Amino Acids, Vitamins and Minerals, and More), by Form (Pellets, Extruded Feed, and More), by Life-Cycle Stage (Starter, Grower, and More), and by Geography (North America, Europe, and More). The Market Forecasts are Provided in Terms of Value (USD).

Geography Analysis

Asia-Pacific holds a 45% revenue share in 2024, with a projected 7.4% CAGR through 2030, maintaining its dominance in the aquafeed market. China's farmed fish production reached 58.1 million metric tons in 2023, while Indonesia achieved 14.6 million metric tons in aquaculture production in 2021. The region's integrated clusters reduce logistics costs and enable rapid adoption of new feed technologies. However, disease outbreaks and coastal environmental constraints increase biosecurity expenses. Climate changes, including marine heatwaves affecting East Asian waters, necessitate investments in deeper cages and enhanced functional feeds.

North America represents a mature market where land-based recirculating aquaculture systems (RAS) drive demand for low-dust, high-protein feeds that maintain water quality. The partnership between Green Plains and Riverence for fermented protein supply in Idaho trout production demonstrates the market's focus on circular-economy ingredients. Regulatory requirements regarding antibiotic residues and carbon emissions encourage the implementation of AI-guided feeding systems and verified ingredients. Despite higher feed costs compared to Asia, premium retail prices and sustainability certifications maintain profitability for technology-focused producers.

Europe's aquaculture industry prioritizes compliance and traceability standards. Spain leads EU production, with mussels and marine finfish valued at USD 4.14 billion (EUR 3.6 billion) in 2024. Strict antimicrobial regulations increase probiotic adoption, while organic certification requirements drive demand for non-GMO, low-fish-meal feeds. Pelagia's integrated fish-meal supply and waste treatment operations demonstrate the monetization of sustainability practices. Mediterranean heatwaves affect growth cycles and nutritional requirements, requiring feed manufacturers to modify lipid sources and antioxidant content.

List of Companies Covered in this Report:

Cargill, Incorporated / Nutreco NV / BioMar Group / Charoen Pokphand Foods PCL. / ADM / Alltech / Ridley Corporation Limited / De Heus Animal Nutrition / Tongwei Co., Ltd. / Aller Aqua A/S / Guangdong HAID Group Co., Ltd. / Kemin Industries, Inc. / Avanti Feeds Limited. / Adisseo (A Bluestar Company) / Godrej Agrovet Limited / Growel /

Additional Benefits:

The market estimate (ME) sheet in Excel format /
3 months of analyst support /