Fishmeal & Fish Oil Market Size, Share & Industry Analysis, By Source (Salmon & Trout, Marine Fish, Carps, Crustaceans, Tilapia, and Others), By Form (Powder, Granules, and Liquid), By Application (Human Use [Dietary Supplements, Functional Foods, and Pharmaceuticals], Animal Feed [Ruminants, Poultry, Swine, and Aquatic Animals], Pet Food, and Fertilizers), and Regional Forecast, 2026-2034

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.

Fishmeal and fish oil are marine-derived ingredients produced mainly from small pelagic fish, trimmings, and seafood processing by-products. Fishmeal is valued for its high protein content, digestibility, essential amino acids, minerals, and palatability, while fish oil is used as a concentrated source of long-chain omega-3 fatty acids, particularly EPA and DHA. These ingredients are widely used in aquafeed, livestock feed, pet food, dietary supplements, functional foods, and pharmaceutical formulations.

The global market growth is positioned at the center of aquaculture nutrition, animal feed efficiency, human omega-3 supplementation, and circular seafood processing. The rising demand for high-quality aquafeed, increasing global seafood consumption, and broader utilization of fish processing by-products are supporting the long-term growth of fishmeal and fish oil. At the same time, the industry remains sensitive to raw material availability, climate-driven changes in pelagic fisheries, regulatory scrutiny, and price volatility.

Major companies operating in the industry are TASA, Copeinca, Austevoll Seafood ASA, Pelagia AS, and FF Skagen A/S. However, these players are focusing on sustainable sourcing, traceability, certified marine ingredient production, by-product utilization, and integrated supply chains to serve aquaculture, animal nutrition, and omega-3 markets.

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Fishmeal & Fish Oil Market Trends

Growing Shift Toward Responsible Marine Ingredients and By-product Utilization to Shape Industry Trends

Sustainability and raw material traceability are becoming central to the fishmeal and fish oil industry. Producers are increasingly using fish trimmings, seafood processing residues, and responsibly sourced pelagic species to reduce pressure on wild fisheries and improve circularity in seafood value chains. This trend is particularly important as aquafeed manufacturers, salmon producers, pet food brands, and omega-3 supplement companies demand certified and traceable marine inputs.

Marine ingredients are also being used more strategically in aquafeed formulations. Rather than being treated as commodity feed inputs, fishmeal and fish oil are increasingly positioned as high-value nutritional ingredients used during critical life stages, broodstock development, juvenile fish growth, and premium feed applications.

• According to the Marine Ingredients Organization (IFFO), global marine ingredient production has stabilized at around 6 million metric tons annually, comprising roughly 5 million tons of fishmeal and 1 million tons of fish oil. This highlights the limited but strategically important supply base supporting global aquaculture, feed, and omega-3 applications.

MARKET DYNAMICS

Market Drivers

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Rising Aquaculture Production and Demand for High-performance Feed Ingredients to Transform Market Growth

The global aquaculture industry is the most important demand driver for fishmeal and fish oil. Aquaculture producers require highly digestible protein, essential amino acids, phospholipids, minerals, and omega-3 fatty acids to improve feed conversion, fish growth, survival rates, immune function, and final product quality. Fishmeal and fish oil remain especially important in salmon, trout, shrimp, marine fish, and juvenile feed formulations, where performance and palatability requirements are high. The structural shift from wild capture fisheries toward aquaculture is strengthening demand for specialized feed ingredients, further influencing the fishmeal & fish oil market growth.

• According to the Food and Agriculture Organization (FAO), global fisheries and aquaculture production reached a record 223.2 million tons in 2022, including 185.4 million tons of aquatic animals and 37.8 million tons of algae.

Market Restraints

Volatile Raw Material Supply and Climate-linked Pelagic Fishery Disruptions to Limit Market Growth

The industry is highly dependent on the availability of raw fish, particularly anchoveta, sardines, menhaden, herring, capelin, sprat, and other small pelagic species. These fisheries are influenced by seasonal catch limits, climate variability, El Niño events, stock management rules, and regional quotas. Any reduction in landings can sharply affect global supply and pricing as fishmeal and fish oil production is concentrated across a limited number of fishing regions.

• According to the FAO GLOBEFISH, global fishmeal production declined by 23% in 2023, while global fish oil output fell by 21%, mainly due to weak Peruvian anchoveta catches.

Market Opportunities

Expanding Omega-3 Nutrition, Premium Pet Food, and Circular Marine Ingredient Applications to Unlock Growth Opportunities

The growing demand for EPA and DHA omega-3 ingredients is creating opportunities for fish oil beyond aquafeed. Fish oil is increasingly used in dietary supplements, functional foods, infant nutrition, pharmaceutical preparations, and clinical nutrition products. Consumer awareness around heart health, brain function, eye health, and inflammation management is supporting demand for marine-sourced omega-3 oils, especially in North America, Europe, Japan, China, and other premium nutrition markets.

The pet food industry is also creating new opportunities for fishmeal and fish oil. Premium dog and cat food brands are increasingly using marine proteins and omega-3 oils to support skin health, coat quality, joint health, and digestibility.

• For instance, in September 2025, Trident Seafoods expanded into the pet‑nutrition space by launching wellFURst, a new brand focused on pet wellness supplements made from wild‑caught Alaskan fish, primarily Alaska pollock and salmon. The new products include Freeze‑dried supplements and Wild Alaska omega‑3 fish oils for dogs.

SEGMENTATION ANALYSIS

By Source

Marine Fish Segment Dominated Due to Strong Use of Pelagic Fish in Fishmeal and Fish Oil Production

By source, the market segmentation includes salmon & trout, marine fish, carp, crustaceans, tilapia, and others.

The marine fish segment dominated the global fishmeal & fish oil market share in 2025, reaching approximately USD 6.40 billion. The growth is supported by the large-scale use of anchoveta, sardines, menhaden, herring, capelin, and other pelagic fish in reduction fisheries. Marine fish are widely preferred as they provide high protein yield for fishmeal and strong omega-3 concentration for fish oil. Therefore, making them suitable for aquafeed, livestock feed, pet food, and human nutrition applications.

The tilapia segment is projected to grow at the fastest CAGR of 8.65% during the forecast period. Such growth is supported by rising global tilapia production, greater use of processing by-products, and increased conversion of trimmings into protein meal and oil ingredients.

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Powder Segment Dominated Due to Extensive Use in Aquafeed and Animal Feed Formulations

By form, the global market is segmented into powder, granules, and liquid.

The powder segment dominated the global market in 2025, reaching approximately USD 11.78 billion, accounting for the largest share of total global fishmeal & fish market demand. Fishmeal powder is widely used in aquafeed, poultry feed, swine feed, ruminant nutrition, and pet food, as it offers high digestibility, uniform blending, easy storage, and strong compatibility with compound feed manufacturing systems. The powder form is particularly important in aquafeed pellets, where protein quality, amino acid balance, palatability, and feed conversion performance are key purchasing criteria.

The liquid segment is projected to grow at the fastest CAGR of 9.56% during 2026-2034. The growth is supported by the rising use of fish oil in dietary supplements, functional foods, pharmaceutical applications, aquafeed coating, and omega-3 enrichment.

By Application

Animal Feed Segment Dominated Due to Strong Demand from Aquaculture and Livestock Nutrition

By application, the global market is segmented into human use, animal feed, pet food, and fertilizers.

The animal feed segment dominated the market in 2025, reaching approximately USD 9.91 billion, supported by the extensive use of fishmeal and oil in aquafeed, poultry feed, swine feed, and ruminant nutrition. Within animal feed, aquatic animals represented the largest sub-segment, valued at USD 4.83 billion in 2025, reflecting strong demand from salmon, shrimp, trout, tilapia, and marine fish farming.

The human use segment is projected to grow at the fastest CAGR of 8.74% during the market forecast period. It is driven by the growing use of fish oil in dietary supplements, functional foods, and pharmaceutical applications.

Fishmeal & Fish Oil Market Regional Outlook

Regionally, the report covers the global market analysis across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Asia Pacific

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Asia Pacific accounted for approximately USD 8.45 billion in 2025, dominating the global market, and is projected to grow at the fastest CAGR of 7.18% during 2026-2034. The growth is driven by large aquaculture production, expanding feed manufacturing, rising seafood consumption, and increasing demand for high-performance aquafeed ingredients. China, Japan, India, Vietnam, Indonesia, and Thailand are important demand centers due to their aquaculture scale and seafood processing industries.

China Fishmeal & Fish Oil Market

China dominated the Asia Pacific market with approximately USD 3.64 billion in 2025 and is projected to grow at a CAGR of 6.66% during 2026-2034. The country has one of the world’s largest aquaculture and feed manufacturing sectors, creating sustained demand for fishmeal, fish oil, and alternative marine ingredients.

India Fishmeal & Fish Oil Market

The Indian market reached approximately USD 1.73  billion in 2025 and is projected to grow at a CAGR of 8.53% during 2026-2034, supported by shrimp farming, aquaculture expansion, poultry feed demand, and seafood export processing.

North America

North America accounted for approximately USD 1.71 billion in 2025 and is projected to grow at a CAGR of 5.78% during 2026-2034. Such growth is supported by demand from aquafeed, pet food, livestock nutrition, and omega-3 supplement manufacturers. The region has a mature animal nutrition industry and a strong premium pet food market, which supports the use of marine proteins and fish oil in high-value formulations.

U.S. Fishmeal & Fish Oil Market

The U.S. dominated the North American market, reaching approximately USD 1.34  billion in 2025, and is projected to grow at a CAGR of 5.61% during 2026-2034. The demand is supported by aquaculture feed, poultry and swine nutrition, pet food, and omega-3 supplement applications.

Europe

Europe reached approximately USD 2.79 billion in 2025 and is projected to grow at a CAGR of 5.24% during 2026-2034. The demand is supported by salmon farming, pet food premiumization, omega-3 nutrition, and strict sustainability standards in marine ingredient sourcing. Norway, Denmark, the U.K., Iceland, and Spain are important markets due to their fish processing industries, aquafeed demand, and established fishmeal and fish oil production systems.

Germany Fishmeal & Fish Oil Market

Germany accounted for approximately USD 0.63 billion of the European market in 2025 and is projected to grow at a CAGR of 5.00% during 2026-2034. The market is supported by the country’s large animal feed industry, mature pet food sector, demand for omega-3 dietary supplements, and continued reliance on imported marine ingredients.

France Fishmeal & Fish Oil Market

France accounted for approximately USD 0.55 billion in 2025 and is projected to grow at a CAGR of 5.50% during 2026-2034. The market is supported by aquaculture, seafood processing, pet food production, organic agriculture, and human omega-3 nutrition demand.

South America and the Middle East & Africa

South America accounted for approximately USD 2.42 billion in 2025 and is projected to grow at a CAGR of 6.04% during 2026-2034, supported by Brazil’s strong role in global production. The region benefits from anchoveta, jack mackerel, sardine, and other pelagic fisheries, along with integrated seafood processing and export-oriented marine ingredient supply chains.

The Middle East & Africa market reached approximately USD 0.88 billion in 2025 and is projected to grow at a CAGR of 6.67% during 2026-2034. It is driven by aquaculture development, poultry feed demand, seafood processing, and increasing use of marine ingredients in animal nutrition. Morocco, South Africa, Mauritania, Oman, and the UAE are relevant markets due to fishery resources, feed demand, and seafood processing activity.

Brazil Fishmeal & Fish Oil Market

Brazil reached for approximately USD 1.90 billion in 2025 and is projected to grow at a CAGR of 5.94% during 2026-2034. The market is supported by the country’s expanding aquaculture industry, rising demand for fish feed, growing pet food production, and increasing focus on the utilization of seafood processing by-products.

COMPETITIVE LANDSCAPE

Key Industry Players

Key Companies are Strengthening Marine Ingredient Supply Chains, Traceability, and Sustainable Sourcing

Leading companies in the global fishmeal & fish oil market are focusing on secure raw material access, responsible fisheries, certified processing, and integrated production models. The competitive landscape is shaped by companies operating close to major pelagic fisheries in Peru, Chile, Scandinavia, the U.K., Ireland, and other coastal regions. Producers are also investing in by-product utilization, quality control, omega-3 oil refining, and feed-grade ingredient standardization to serve aquafeed, livestock feed, pet food, and human nutrition markets.

Key Players in the Fishmeal & Fish Oil Market

List of Key Fishmeal & Fish Oil Companies Profiled

• 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)

KEY INDUSTRY DEVELOPMENTS

• May 2025: Hofseth Biocare launched its OmeGo full-spectrum salmon oil in partnership with Nestlé-owned Garden of Life. Marketed as "Norwegian Salmon Oil" or "Dr. Formulated Salmon Oil Softgels," it provides a broad omega profile from fresh Atlantic salmon trimmings.
• March 2025: Innovaoleo, the omega‑3 division of Spanish biotech firm Natac, launched Omega‑3 Star, a premium fish‑origin oil designed for food, nutraceutical, and pet‑nutrition applications.
• April 2023: Pro-Allo is a specialized fishmeal developed by Pelagia, in collaboration with fishmeal expert Dr. Anders Aksnes, designed to enhance the growth, health, and robustness of farmed fish. It distinguishes itself by supporting allostasis, the biological process fish use to manage stress resulting from environmental changes or handling.
• March 2022: Scoular, a major U.S.-based global merchandiser of fishmeal and fish oil, opened a new fishmeal facility in Myanmar. This development serves as a hub for high-quality, consistent fishmeal products with just-in-time shipments to Asian aquafeed and animal feed markets.
• September 2021: Scoular launched its global fishmeal brand, Encompass, to support its growing marine ingredients business. This strategic branding effort was part of a larger initiative to provide consistent quality, reliability, and customized solutions for the pet food and aquaculture sectors worldwide.

REPORT COVERAGE

The global industry report analyzes the market in depth and highlights crucial aspects such as global market trends, market dynamics, market reports, research,  prominent companies, investment in research and development, and end-use. Besides this, the report also provides insights into the global fishmeal & fish oil market analysis and highlights significant industry developments.

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