Fishmeal Market Report 2026

The fishmeal market size has grown strongly in recent years. It will grow from $9.38 billion in 2025 to $9.95 billion in 2026 at a compound annual growth rate (CAGR) of 6%. The growth in the historic period can be attributed to expansion of global aquaculture activities, rising livestock feed requirements, availability of pelagic fish resources, adoption of industrial fishmeal processing, growth in fertilizer applications.

The fishmeal market size is expected to see strong growth in the next few years. It will grow to $12.64 billion in 2030 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to increasing demand for sustainable aquafeed, rising focus on alternative protein sourcing, expansion of intensive aquaculture systems, growing investments in feed optimization technologies, increasing regulatory oversight on marine resource utilization. Major trends in the forecast period include increasing demand for high-protein aquafeed ingredients, growing utilization of sustainable fish sources, expansion of fishmeal use in livestock nutrition, rising focus on feed quality and digestibility, enhanced processing efficiency in fishmeal production.

The expansion of the aquaculture industry is anticipated to drive the growth of the fishmeal market in the coming years. Aquaculture refers to the cultivation and harvesting of fish, shellfish, and aquatic plants, such as algae, in freshwater, saltwater, and brackish environments. It is used to supply food, restore endangered species populations, replenish natural fish stocks, and rehabilitate aquatic habitats. Owing to the rising demand for seafood and the declining annual catch of wild fish, aquaculture is expected to expand, which in turn boosts demand for the fishmeal market. For instance, in June 2024, according to the Food and Agriculture Organization of the United Nations, a US-based government agency, aquatic animal production is projected to rise by 10 percent by 2032, reaching 205 million tonnes. Additionally, SOFIA estimates that apparent consumption will increase by 12 percent, supplying an average of 21.3 kg per capita by 2032. Therefore, the growth of the aquaculture industry is contributing to increased demand for the fishmeal market.

Leading companies operating in the fishmeal market are focusing on developing stress-mitigating fishmeal products, such as Pro-Allo, to address environmental stress in fish. Pro-Allo is an innovative fishmeal designed to support allostasis in fish, enabling them to cope with environmental stress. For example, in 2023, Pelagia, a Norway-based producer of pelagic fish products, introduced Pro-Allo, a novel fishmeal created to help fish withstand environmental stress, resulting in healthier and larger fish. Central to Pro-Allo is its support of allostasis, an essential biological mechanism that helps fish manage stress caused by environmental changes or handling. Another key characteristic of Pro-Allo is its enhanced level of water-soluble components, primarily comprising small proteins, free amino acids, and peptides.

In November 2024, Cooke Inc., a Canada-based seafood and seafood-ingredients company, acquired Corporación Pesquera Inca S.A.C. (Copeinca) for an undisclosed amount. Through this acquisition, Cooke seeks to enhance its fishmeal and fish oil production capabilities and ensure a reliable supply of marine ingredients for aquaculture and feed markets. Copeinca is a Peru-based company engaged in the production and export of fishmeal and fish oil.

Major companies operating in the fishmeal market are Aker Biomarine Antarctic AS, Alpha Atlantique, Animalfeeds International Corporation, Austevoll Seafood ASA, Biomega AS, Oceana Group Limited, Omega Protein Corporation, Pioneer Fishing (Pty) Ltd., Sarma Fish S.A.R.L, Pesquera Diamante S.A., Pesquera Exalmar S.A.A, Pesquera Hayduk SA, FF Skagen A/S, Pelagia AS, Orizon SA, Sardina D.O.O, Austral Group S.A.A, Corporacion Pesquera Inca S.A.C. (Copeinca), TASA Pvt. Ltd., Corpesca SA, Colpex International S.A., Triplenine Group A/S, Pilmifresh S.A.

Asia-Pacific was the largest region in the fishmeal market in 2025. The regions covered in the fishmeal market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the fishmeal market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The fishmeal market consists of sales of pout, sand eel, sprat, sardine, pilchard, sauries, mackerels. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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