Fishmeal And Fishoil Market CAGR Trends: Growth Outlook 2025-2033

Key Insights

The global fishmeal and fish oil market, valued at $8.28 billion in 2025, is projected to experience robust growth, driven by a compound annual growth rate (CAGR) of 11.93% from 2025 to 2033. This expansion is fueled by several key factors. The increasing demand for animal feed, particularly in aquaculture and livestock farming, forms a significant cornerstone of market growth. The rising global population and the subsequent surge in protein consumption are further bolstering this demand. Furthermore, the nutritional benefits of fishmeal and fish oil, rich in omega-3 fatty acids and essential proteins, are driving their incorporation into pet food and even human dietary supplements, contributing to market expansion across diverse application segments. Specific species like salmon and trout, crucial in high-value aquaculture, significantly contribute to the market's growth trajectory. Geographic expansion, particularly within rapidly developing economies in Asia-Pacific and South America, presents substantial growth opportunities for industry players. However, factors such as fluctuating raw material prices and increasing concerns about sustainable fishing practices pose challenges to market expansion. Competitive pressures among major players, including Pelagia, Pesquera Exalmar, and Austral Group, are also shaping market dynamics.

Despite these challenges, the market's inherent growth potential remains strong. Technological advancements in fish processing and the development of sustainable aquaculture practices are expected to mitigate some of the existing constraints. The growing awareness of the health benefits of omega-3 fatty acids is also driving innovation in product diversification, leading to the development of high-value, specialized fishmeal and fish oil products targeted at specific consumer segments. The market's segmentation by species type (salmon & trout, crustaceans, marine fish, etc.) and application (poultry, swine, pets, etc.) highlights the diverse avenues for market penetration and growth. Continued innovation and strategic partnerships within the industry are anticipated to further propel the market's trajectory in the coming years.

Fishmeal And Fishoil Market Market Composition & Trends

The Fishmeal and Fishoil Market is characterized by a moderate level of market concentration, with key players such as Pelagia, Pesquera Exalmar S.A.A, and Austral Group S.A.A holding significant market shares. The top five companies collectively account for approximately 45% of the market. Innovation is driven by the need for sustainable sourcing and production methods, with companies investing in research and development to enhance product quality and environmental sustainability. Regulatory landscapes are evolving, with stricter guidelines on fishing practices and environmental impact assessments impacting market dynamics.

• Market Concentration: The top five companies hold about 45% of the market share, indicating a moderate concentration level.
• Innovation Catalysts: Investment in R&D for sustainable practices and product quality enhancement.
• Regulatory Landscapes: Increasingly stringent regulations on fishing practices and environmental impacts.
• Substitute Products: Plant-based alternatives are emerging, posing a threat to traditional fishmeal and fish oil products.
• End-User Profiles: The aquaculture sector remains the largest consumer, followed by animal feed for poultry and swine.
• M&A Activities: Notable M&A activities include Pelagia's acquisition of Norsk Fiskeindustri Invest AS in March 2022, valued at approximately USD 100 Million.

Fishmeal And Fishoil Market Industry Evolution

The Fishmeal and Fishoil Market has experienced significant evolution over the study period from 2019 to 2033. The market has seen a compounded annual growth rate (CAGR) of 4.5% during the historical period (2019-2024), with projections indicating a continued growth trajectory at a CAGR of 5.2% from 2025 to 2033. Technological advancements in processing and extraction methods have led to improved product quality and efficiency. The shift towards sustainable fishing practices has been a key driver, with companies adopting eco-friendly methods to meet regulatory requirements and consumer demands. The rise in aquaculture has significantly boosted demand, with fishmeal and fish oil being critical components in feed formulations. Consumer awareness about the health benefits of omega-3 fatty acids has also contributed to market growth, particularly in the pet food and nutraceutical segments. The market's evolution is further marked by strategic investments in new facilities and acquisitions to expand production capacities and market reach. For instance, the opening of Scoular's new fishmeal facility in Myanmar in March 2022 underscores the industry's focus on enhancing supply chain efficiency and meeting regional demand.

Leading Regions, Countries, or Segments in Fishmeal And Fishoil Market

The Fishmeal and Fishoil Market exhibits varied dominance across different regions, countries, and segments. The Asia-Pacific region stands out as the leading market, driven by the rapid expansion of aquaculture in countries like China and Vietnam. Within the species type segment, marine fish remains the dominant category, accounting for over 50% of the market share due to its high nutritional value and widespread use in aquaculture feed.

• Key Drivers for Asia-Pacific Dominance:

• Investment trends: Significant investments in aquaculture infrastructure and sustainable fishing practices.

• Regulatory support: Government initiatives promoting sustainable fishing and aquaculture growth.

• Dominance Factors for Marine Fish: The dominance of marine fish in the species type segment can be attributed to its high omega-3 content, which is essential for the growth and health of aquatic animals. The segment's growth is further supported by the increasing demand for high-quality fish feed in the aquaculture industry. The marine fish segment benefits from a robust supply chain and the availability of raw materials, which ensures consistent production and supply.

• Application Segment Insights: Within the application segment, aquatic animals lead, driven by the global surge in aquaculture production. The poultry segment also holds a significant market share, as fishmeal and fish oil are integral to poultry feed formulations, enhancing growth and disease resistance.

Fishmeal And Fishoil Market Product Innovations

Product innovations in the Fishmeal and Fishoil Market focus on enhancing nutritional profiles and sustainability. Companies are developing new extraction technologies to maximize the yield of omega-3 fatty acids while minimizing environmental impact. Innovations such as microencapsulation techniques are being adopted to improve the stability and bioavailability of fish oil in various applications, including pet food and human supplements. These advancements not only enhance the product's performance but also cater to the growing consumer demand for eco-friendly and health-focused products.

Propelling Factors for Fishmeal And Fishoil Market Growth

Several factors are propelling the growth of the Fishmeal and Fishoil Market. Technological advancements in processing and extraction methods are enhancing product quality and efficiency. The global increase in aquaculture production drives demand for high-quality fish feed. Additionally, regulatory support for sustainable fishing practices encourages market expansion. Economic factors, such as rising disposable incomes in developing countries, also contribute to increased consumption of fish oil in nutraceuticals and health supplements.

Obstacles in the Fishmeal And Fishoil Market Market

The Fishmeal and Fishoil Market faces several obstacles. Regulatory challenges, such as stringent fishing quotas and environmental regulations, can limit raw material availability. Supply chain disruptions, often caused by geopolitical issues or natural disasters, impact production and distribution. Competitive pressures from plant-based alternatives pose a threat to market share, as these substitutes gain popularity among consumers seeking sustainable options. These factors can result in a potential decrease in market growth by up to 2% annually.

Future Opportunities in Fishmeal And Fishoil Market

The Fishmeal and Fishoil Market presents several future opportunities. Emerging markets in Africa and South America offer untapped potential for aquaculture expansion. Technological advancements in sustainable fishing and processing methods can further enhance market growth. Additionally, increasing consumer awareness about the health benefits of omega-3 fatty acids opens new avenues in the nutraceutical and pet food sectors, driving demand for high-quality fish oil products.

Major Players in the Fishmeal And Fishoil Market Ecosystem

• 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 Industry

• January 2023: IDB, a multilateral development bank, invested up to USD 40 Million with an eight-year tenor to Pesquera Exalmar. This investment supports sustainable fishing production, enhancing the production of fish meal and fish oil.
• March 2022: Scoular opened a new fishmeal facility in Myanmar, serving as a hub for high-quality, consistent products and just-in-time shipment to Asian feed markets.
• March 2022: Pelagia purchased 100% of the shares in Norsk Fiskeindustri Invest AS (NFI) on 28 March 2022. NFI owns 51.05% of Karmsund Protein AS, a fish meal producer, and fish oil, strengthening Pelagia's market position.

Strategic Fishmeal And Fishoil Market Market Forecast

The strategic forecast for the Fishmeal and Fishoil Market indicates robust growth potential through 2033. Key growth catalysts include technological advancements in sustainable fishing and processing, expanding aquaculture markets, and increasing consumer demand for omega-3 fatty acids. The market is poised to capitalize on emerging opportunities in Africa and South America, as well as the growing nutraceutical and pet food sectors. With a projected CAGR of 5.2% from 2025 to 2033, the market is set to reach new heights, driven by innovation and strategic investments.

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