Aquaculture Feed Market Report 2025

The aquaculture feed market size has grown strongly in recent years. It will grow from $63.89 billion in 2024 to $69.03 billion in 2025 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to increase in seafood consumption, research and development initiatives, regulatory support, economic viability of aquaculture, globalization of aquaculture operations.

The aquaculture feed market size is expected to see strong growth in the next few years. It will grow to $93.44 billion in 2029 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to sustainable aquaculture practices, alternative protein sources, climate change adaptation, health and disease management, e-commerce and supply chain optimization. Major trends in the forecast period include sustainable and alternative protein sources, functional feeds for health and performance, precision feeding and technology integration, customized and specialty feeds, aquafeed innovation for niche species.

The escalating demand for seafood is anticipated to be a significant driving force behind the expansion of the aquaculture feed market. Seafood, encompassing a range of aquatic species such as fish, shrimp, and octopuses, constitutes a vital protein and nutrient source for human consumption. To meet this demand, aquaculture feed stands as a pivotal mechanism for producing high-quality seafood. According to the Organization for Economic Cooperation and Development (OECD) in July 2022, an estimated 90% of fish production is projected to be utilized for human consumption by 2029. On a global scale, fish consumption for human consumption is anticipated to surge by 16.3%, representing an additional 25 million tons, reaching 180 million tons by 2029. This surge in demand for superior-quality seafood, including frozen options, underscores the driving force behind the burgeoning aquaculture feed market.

The anticipated increase in aquaculture production is expected to drive the growth of the aquaculture feed market in the coming years. Aquaculture production involves the cultivation of aquatic organisms, including fish, crustaceans, mollusks, algae, and other valuable species, under controlled or semi-natural conditions. Aquaculture feed is essential in this process, as it provides the necessary nutrients for the growth and development of farmed aquatic organisms. For example, in March 2024, the Department of Agriculture, Fisheries, and Forestry (DAFF), an Australian government department, projected that aquaculture production would grow by 0.5% in 2023-24, reaching a value of $3.56 billion. Additionally, total production volume is expected to rise to 296,000 metric tons by 2024-25, marking a 1% increase from the previous year. Thus, the growth in aquaculture production is fueling the expansion of the aquaculture feed market.

Product innovations are a significant trend gaining traction in the aquaculture feed market. Key players in this sector are focusing on developing new products to maintain their competitive edge. For instance, in June 2024, Skretting, a Norway-based company specializing in sustainable feed solutions for the aquaculture industry, introduced a new feed formulation concept called AmiNova. This innovative formulation aims to enhance the precision of fish nutrition by utilizing an optimal digestible amino acid profile, moving beyond the conventional reliance on crude and digestible protein. By thoroughly assessing the amino acids that fish actually absorb, this formulation reduces unnecessary excess and improves nutrient efficiency.

Major companies within the aquaculture feed sector are strategically leveraging partnerships to introduce innovative feed products, thereby gaining a competitive edge in the market. These collaborations entail alliances between feed manufacturers, industry experts, research entities, and various stakeholders, aiming to advance the development, production, and distribution of aquaculture feeds. For instance, in May 2023, Aller Aqua, a Denmark-based fish feed producer, forged a partnership with VDS NV, a Belgium-based producer of specialized animal feeds. This collaboration aims to introduce a new line of feed products tailored explicitly for application in shrimp RAS (Recirculating Aquaculture System) farms. These land-based systems facilitate the production of high-quality fresh shrimp products while minimizing transport distances to market. The novel feed products promise swift feed availability and superior feed performance, potentially augmenting the productivity and profitability of shrimp farming operations.

in November 2022, Cooke Aquaculture Inc., a Canada-based aquaculture feed producer, completed the acquisition of Tassal Group of Australia for $1.5 billion. This acquisition marked Cooke Aquaculture Inc.'s entry into the Tasmanian aquaculture sector, welcoming Tassal Group's workforce comprising 1,700 employees. This strategic acquisition stands as Cooke Aquaculture's largest-ever purchase, positioning the company strategically within the Australian seafood industry. Tassal Group of Australia is a prominent seafood producer based in Australia, and this acquisition is poised to fortify Cooke Aquaculture's presence and operations in the region.

Major companies operating in the aquaculture feed market include Alltech Inc., Land O'Lakes Inc., Nutreco N.V., Charoen Pokphand Foods PCL, Avanti Feeds Limited, Ocean Star International Inc., Ridley Corporation Limited, Guangdong Haid Group Co. Ltd., Tongwei Group Co. Ltd., Betagro Group, De Heus Vietnam LLC, Schouw & Co. AS, BioMar A/S, Cargill Inc., Coppens International BV, Hanpel Tech Co. Ltd., Inve Aquaculture Inc., Nutriad International NV, Biomin, Bluestar Adisseo, Wilbur-Ellis Nutrition LLC, New Hope Group, Grobest Holdings Limited, NovoNutrients, EniferBio, Archer Daniels Midland Company, Norel Animal Nutrition, Zeigler Bros Inc.

Asia-Pacific was the largest region in the Aquaculture feed market in 2024. The regions covered in the aquaculture feed market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the aquaculture feed market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Aquaculture feed is a specialized food product designed for controlled environments to support the optimal growth, health, and productivity of aquatic species. The primary goal of aquaculture feed is to provide the necessary dietary elements that contribute to the natural immune system and reproductive success of the species.

The main categories of aquaculture feed products include pellets, extruded formulations, powdered varieties, and liquid formulations. Pellets, characterized by their small, cylindrical, rounded, or spherical shapes, consist of ingredients such as soybeans, corn, fishmeal, fish oil, and various additives. These feeds cater to a diverse range of aquatic species, including carp, marine shrimp, tilapia, catfish, marine fish, salmon, freshwater crustaceans, trout, among others. Aquaculture feed products are distributed through various channels, including both physical stores and online platforms, serving the needs of both commercial enterprises and individual households.

The aquaculture feed market research report is one of a series of new reports that provides aquaculture feed market statistics, including aquaculture feed industry global market size, regional shares, competitors with a aquaculture feed market share, detailed aquaculture feed market segments, market trends and opportunities, and any further data you may need to thrive in the aquaculture feed industry. This aquaculture feed market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The aquaculture feed market consists of sales of wet feeds, moist feeds, dry feeds, larval feeds, and wet feeds. 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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