Key Insights

The global Fishmeal and Fish Oil market is poised for robust expansion, projected to reach \$8.28 million in value, with a compelling Compound Annual Growth Rate (CAGR) of 11.93% from 2025 to 2033. This significant growth is primarily propelled by the escalating demand for sustainable and high-quality protein sources in animal feed, particularly within the aquaculture and poultry sectors. The increasing global population and rising disposable incomes are fueling a greater consumption of seafood and meat products, directly translating to an increased need for fishmeal and fish oil as essential feed ingredients. Furthermore, the growing awareness of the health benefits associated with fish oil, including its rich omega-3 fatty acid content, is driving its application in nutraceuticals and dietary supplements. Key market drivers include the innovation in feed formulations, optimizing nutrient delivery and animal health, and the development of sustainable sourcing practices to ensure long-term availability.

Despite the optimistic growth trajectory, the market faces certain restraints, primarily concerning the fluctuating availability of raw materials due to environmental factors and fishing quotas. The sustainability of fish stocks and the ethical sourcing of raw materials are paramount concerns that could influence market dynamics. Nonetheless, the market is characterized by significant trends such as the shift towards alternative protein sources in animal feed, although fishmeal and fish oil continue to hold a dominant position due to their superior nutritional profile. Segmentation analysis reveals that Salmon & Trout and Crustaceans are key species types, while Aquaculture and Poultry represent dominant application segments. Regionally, Asia Pacific, driven by China and India, is expected to exhibit substantial growth, alongside established markets in North America and Europe, which are focusing on advanced processing techniques and value-added products.

This detailed report offers an in-depth analysis of the global Fishmeal and Fish Oil market, encompassing historical trends, current dynamics, and future projections. Covering the period from 2019 to 2033, with a base and estimated year of 2025, this research provides actionable insights for stakeholders seeking to understand and capitalize on market opportunities. The report delves into market concentration, innovation drivers, regulatory landscapes, key industry trends, dominant segments, product developments, growth drivers, challenges, emerging opportunities, and the strategic outlook of leading players.

Fishmeal And Fishoil Market Market Concentration & Innovation

The global Fishmeal and Fish Oil market exhibits moderate to high concentration, with a significant share held by a few key players. Innovation is a critical driver, focusing on enhanced processing techniques, improved nutritional profiles, and sustainable sourcing. Regulatory frameworks, particularly concerning sustainable fishing practices and environmental impact, are increasingly shaping market dynamics. Product substitutes, such as plant-based proteins, pose a growing challenge, necessitating continuous innovation and differentiation in fishmeal and fish oil products. End-user trends highlight a rising demand for high-quality protein ingredients in animal feed, especially for aquaculture and poultry. Mergers and acquisitions (M&A) are a notable strategy for market expansion and consolidation. For instance, the acquisition of Norsk Fiskeindustri Invest AS by Pelagia in March 2022, granting control over Karmsund Protein AS, demonstrates this trend. Investment activities, such as the USD 40 million IDB investment in Pesquera Exalmar in January 2023, underscore the financial interest and confidence in sustainable production. Market share data for key companies will be provided to illustrate concentration levels.

Fishmeal And Fishoil Market Industry Trends & Insights

The Fishmeal and Fish Oil market is experiencing robust growth, driven by the escalating demand for protein in animal feed, particularly from the aquaculture and poultry sectors. The projected Compound Annual Growth Rate (CAGR) for the forecast period is substantial, indicating a healthy expansion. Technological advancements in processing and extraction methods are enhancing the quality and efficiency of fishmeal and fish oil production. Consumer preferences are increasingly leaning towards sustainably sourced and traceable ingredients, pushing manufacturers to adopt eco-friendly practices. Competitive dynamics are characterized by a mix of large, established players and emerging regional suppliers. Market penetration is deepening in developing economies due to rising disposable incomes and increased consumption of animal protein. The report will delve into the specific technological disruptions, such as advancements in enzyme treatments for improved digestibility and reduction of anti-nutritional factors, and the growing emphasis on omega-3 fatty acid enrichment in fish oil for human and animal health applications. The increasing utilization of by-products from fish processing industries is also a significant trend, contributing to resource efficiency and market sustainability.

Dominant Markets & Segments in Fishmeal And Fishoil Market

The Fishmeal and Fish Oil market is segmented by species type and application, with certain segments exhibiting dominant growth.

• Species Type Dominance:

  • Marine fish are historically the largest source for fishmeal and fish oil, driven by their high protein and lipid content and availability in key fishing regions. Countries with extensive coastlines and established fishing industries, such as Peru and Chile, are major contributors. Economic policies supporting fishing industries and infrastructure for processing are critical drivers.
  • Salmon & trout are significant aquaculture species driving demand for high-quality fishmeal and fish oil, particularly in regions with advanced aquaculture practices like Norway and North America.
  • Crustaceans also represent a growing segment, especially in aquaculture, where specific nutritional requirements are met by specialized fishmeal and fish oil.

• Application Dominance:

  • Aquatic animals represent the largest and fastest-growing application segment, fueled by the global expansion of aquaculture. The demand for essential fatty acids and amino acids in aquafeed is paramount.
  • Poultry is another substantial application, with fishmeal being a valuable protein source for broiler and layer feeds, contributing to improved growth rates and feed conversion ratios. Economic policies supporting livestock production and the need for cost-effective protein sources drive this segment.
  • Swine and Pets also contribute significantly to market demand, with increasing consumer focus on high-quality nutrition for companion animals and livestock.

The dominance of these segments is underpinned by factors such as the rapid growth of the global aquaculture industry, increasing meat consumption worldwide, and the proven nutritional benefits of fishmeal and fish oil.

Fishmeal And Fishoil Market Product Developments

Product development in the Fishmeal and Fish Oil market is centered on enhancing nutritional value, improving sustainability, and expanding application areas. Innovations include the development of specialized fish oils rich in EPA and DHA for human nutraceuticals and pharmaceutical applications, as well as value-added fishmeal with optimized amino acid profiles for specific animal feed formulations. Technological advancements in processing allow for the extraction of higher-purity oils and the minimization of anti-nutritional factors in fishmeal, providing a competitive advantage and addressing evolving end-user demands.

Report Scope & Segmentation Analysis

This report provides a comprehensive market segmentation analysis for the Fishmeal and Fish Oil market.

• Species Type: The market is segmented into Salmon & trout, Crustaceans, Marine fish, Carps, Tilapias, and Others. Marine fish is expected to maintain a significant market share, while aquaculture-driven species like Salmon & trout and Crustaceans are projected for robust growth.
• Application: Key applications include Poultry, Swine, Pets, Aquatic animals, and Others. Aquatic animals are anticipated to exhibit the highest growth rate due to the expanding aquaculture industry. Poultry applications are also expected to see steady growth.

Market sizes for each segment and their projected growth rates are detailed within the report, alongside competitive dynamics influencing their performance.

Key Drivers of Fishmeal And Fishoil Market Growth

The Fishmeal and Fish Oil market growth is primarily propelled by several key factors. The burgeoning global aquaculture industry, driven by increasing demand for seafood, is a significant contributor. Technological advancements in fishing and processing techniques enhance efficiency and product quality. Growing consumer awareness regarding the nutritional benefits of omega-3 fatty acids found in fish oil is also fueling demand for human consumption and animal feed supplements. Furthermore, supportive government policies promoting sustainable fishing and aquaculture practices indirectly bolster market expansion.

Challenges in the Fishmeal And Fishoil Market Sector

Despite strong growth prospects, the Fishmeal and Fish Oil market faces several challenges. Fluctuations in fish catches due to environmental factors and overfishing can impact supply availability and price volatility. Stringent regulations concerning sustainability and traceability can increase operational costs. The increasing competition from plant-based protein alternatives poses a threat, particularly in animal feed applications. Supply chain disruptions, global economic uncertainties, and evolving trade policies also present significant hurdles for market players.

Emerging Opportunities in Fishmeal And Fishoil Market

Emerging opportunities in the Fishmeal and Fish Oil market lie in the development of novel applications, particularly in the nutraceutical and pharmaceutical sectors, leveraging the health benefits of omega-3s. The growing demand for sustainable and traceable products presents an opportunity for companies prioritizing eco-friendly practices and transparent sourcing. Furthermore, advancements in by-product utilization and waste valorization offer avenues for cost reduction and value creation. Expansion into untapped emerging markets with growing demand for animal protein also presents significant growth potential.

Leading Players in the Fishmeal And Fishoil Market Market

• 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 in the company helps to carry out sustainable fishing production, which further helps produce fish meal and fish oil.
• March 2022: Scoular, one of the world's largest and most diverse fishmeal and fish oil merchandisers, opened a new fishmeal facility in Myanmar. This facility is 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.

Strategic Outlook for Fishmeal And Fishoil Market Market

The strategic outlook for the Fishmeal and Fish Oil market is highly positive, driven by the sustained growth in global protein demand, particularly from the aquaculture sector. Continued investment in sustainable sourcing and innovative processing technologies will be crucial for market players to maintain a competitive edge. Strategic partnerships and collaborations, along with a focus on traceability and quality assurance, will further enhance market penetration. The exploration of new applications in human nutrition and pharmaceuticals, coupled with expansion into emerging economies, presents substantial growth catalysts for the industry.

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