According to Fortune Business Insights, the global fishmeal & fish oil market size was valued at USD 16.25 billion in 2025. The market is projected to grow from USD 17.18 billion in 2026 to USD 28.49 billion by 2034, exhibiting a CAGR of 6.53% during the forecast period. Asia Pacific dominated the fishmeal & fish oil market with a market share of 52% in 2025. Market growth is driven by increasing demand for aquaculture feed, rising consumption of protein-rich seafood, and the growing use of marine-derived ingredients in animal nutrition and dietary supplements.

Fishmeal & Fish Oil Market Trends

The global fishmeal & fish oil market is witnessing steady growth due to the increasing demand for high-quality ingredients in aquaculture and animal feed production. Fishmeal is a protein-rich ingredient widely used in feed for farmed fish, shrimp, poultry, and livestock, while fish oil is valued for its omega-3 fatty acids and nutritional properties. The expansion of aquaculture and growing awareness of the nutritional benefits of seafood are supporting market demand.

Manufacturers are also focusing on improving processing efficiency, resource utilization, and sustainable sourcing practices. Advances in fish processing and the recovery of valuable ingredients from seafood by-products are creating opportunities to improve production efficiency and reduce waste.

Key Growth Drivers of the Fishmeal & Fish Oil Market

Rising Demand for Aquaculture Feed

The expansion of aquaculture is a major factor driving the fishmeal & fish oil market. As global demand for seafood increases, fish and shrimp producers require high-quality feed to support growth, health, and productivity. Fishmeal provides essential proteins and amino acids, while fish oil supplies energy and important fatty acids. These nutritional benefits continue to support the use of marine ingredients in aquaculture feed formulations.

Increasing Demand for Omega-3 Fatty Acids

Fish oil is an important source of omega-3 fatty acids, particularly EPA and DHA, which are widely used in dietary supplements and nutritional products. Growing consumer interest in health and wellness is supporting demand for omega-3 ingredients. Pharmaceutical, nutraceutical, and food manufacturers are exploring marine-derived oils for applications that meet specific nutritional requirements.

Growing Focus on Sustainable Marine Resources

Sustainability is becoming increasingly important across the fishmeal and fish oil supply chain. Manufacturers are adopting improved resource management, traceability, and processing practices to support responsible sourcing. The recovery of fishmeal and fish oil from suitable seafood processing by-products also offers opportunities to improve resource efficiency and reduce waste.

Asia Pacific Fishmeal & Fish Oil Market

Asia Pacific accounted for 52% of the global fishmeal & fish oil market in 2025, making it the leading regional market. The region benefits from extensive aquaculture operations, strong seafood production, and substantial demand for aquatic animal feed. Countries such as China, India, Vietnam, and Japan contribute to regional demand through their aquaculture, seafood processing, and animal nutrition industries.

The continued expansion of fish and shrimp farming is expected to support demand for protein-rich feed ingredients. Investments in aquaculture infrastructure and improvements in feed formulation are also likely to contribute to regional market growth during the forecast period.

Competitive Landscape of the Fishmeal & Fish Oil Market

The global fishmeal & fish oil market includes established marine ingredient producers and seafood processing companies competing through product quality, sourcing capabilities, processing efficiency, and distribution networks. Key companies operating in the market include:

  • Tecnológica de Alimentos S.A. (TASA) (Peru)
  • Corporación Pesquera Inca S.A.C. (Copeinca) (Peru)
  • Austevoll Seafood ASA (Norway)
  • Pelagia AS (Norway)
  • FF Skagen A/S (Denmark)
  • TripleNine Group A/S (Denmark)
  • Pesquera Hayduk S.A. (Peru)
  • Omega Protein Corporation / Cooke Inc. (U.S.)
  • Oceana Group Limited (South Africa)
  • Austral Group S.A.A. (Peru)

These companies participate in the marine ingredients industry by producing and supplying fishmeal, fish oil, and related products for aquaculture, animal nutrition, and other applications. Competition is influenced by access to raw materials, sustainable sourcing practices, processing capacity, product consistency, and international market demand.

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Future Outlook

The fishmeal & fish oil market is projected to grow steadily through 2034, supported by expanding aquaculture production, increasing demand for nutrient-rich feed ingredients, and growing interest in omega-3 oils. Sustainability initiatives, improved processing technologies, and more efficient utilization of marine resources are expected to create additional opportunities for market participants. Companies that strengthen supply chain traceability, maintain product quality, and respond to evolving aquaculture and nutrition requirements are likely to remain competitive.

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