According to this report, the global aquafeed market size reached a value of around USD 80.25 billion in 2024. Aided by the increasing demand for high-quality aquaculture products and the growing applications of aquafeed in sustainable fish farming, the market is projected to grow at a CAGR of 5.9% between 2025 and 2034 to reach a value of nearly USD 143.43 billion by 2034.
Aquafeed refers to specialised feed designed for aquatic species, including fish, crustaceans, and molluscs. It is formulated with essential nutrients, including proteins, vitamins, and minerals, to ensure optimal growth, health, and productivity of farmed aquatic species. In addition to enhancing the nutritional quality of seafood, aquafeed plays a crucial role in improving feed conversion ratios and reducing environmental impacts associated with aquaculture operations.
The rising global demand for seafood, driven by the increasing population and growing awareness of the health benefits of fish consumption, is propelling the aquafeed market growth. Seafood is recognised as a rich source of essential nutrients, including omega-3 fatty acids, which are vital for cardiovascular and brain health. Consequently, the rising consumer preference for nutrient-rich diets has bolstered the demand for aquafeed, which supports sustainable and efficient aquaculture practices.
The growth of the aquaculture industry has significantly contributed to the aquafeed market expansion. Aquaculture, which involves the farming of aquatic organisms in controlled environments, is increasingly being adopted as a sustainable alternative to traditional fishing practices to meet the rising demand for seafood. This has led to an increased focus on the development and utilisation of high-quality aquafeed formulations to optimise aquaculture productivity and minimise environmental impacts.
The rising incorporation of functional additives in aquafeed, such as probiotics, prebiotics, and enzymes, has enhanced its nutritional profile and digestibility. These additives not only improve the health and immunity of aquatic species but also reduce the dependency on antibiotics, addressing growing concerns about antibiotic resistance in aquaculture. This is one of the key aquafeed market trends.
Further, precision nutrition and feed optimisation technologies are gaining traction in the aquafeed market. These technologies leverage data analytics, machine learning, and automated feeding systems to deliver customised feeding strategies that improve feed efficiency and reduce wastage, enhancing overall aquaculture productivity.
The versatility of aquafeed has further supported its growing adoption in various aquaculture practices. In the production of carnivorous fish species such as salmon and trout, aquafeed plays a critical role in meeting their high protein requirements. For omnivorous and herbivorous species, customised feed formulations enriched with plant-based proteins and essential micronutrients ensure balanced growth and improved survival rates.
The aquafeed market dynamics are also benefiting from advancements in feed formulation technologies and ingredient innovation. The development of alternative protein sources, such as insect meal, algae, and single-cell proteins, has opened new avenues for sustainable aquafeed production. These novel ingredients reduce the reliance on fishmeal and fish oil, which are associated with overfishing concerns, and contribute to the environmental sustainability of aquaculture practices.
The Asia Pacific dominates the global aquafeed market share, driven by the presence of major aquaculture-producing countries such as China, India, Vietnam, and Indonesia. The region's thriving seafood export industry and supportive government initiatives promoting sustainable aquaculture practices are key factors bolstering the market.
North America and Europe are also significant markets for aquafeed, supported by the increasing consumer preference for sustainably sourced seafood and stringent regulations on aquaculture practices. These regions are witnessing growing investments in R&D activities aimed at developing innovative and eco-friendly aquafeed formulations.
While the aquafeed market outlook presents significant growth opportunities, it is not without challenges. The rising costs of raw materials, including fishmeal and soybean meal, pose a significant challenge for aquafeed manufacturers. Additionally, the environmental impacts associated with aquaculture practices, including water pollution and habitat destruction, necessitate the adoption of sustainable feed solutions.
However, the increasing focus on circular economy principles and the utilisation of by-products from food and agriculture industries as feed ingredients increase the aquafeed market revenue. The integration of advanced technologies and sustainable practices in aquafeed production is expected to drive market growth in the coming years.
In conclusion, the global aquafeed market value is poised for significant surge, underpinned by the rising demand for seafood, advancements in feed technologies, and the expanding aquaculture industry. As consumer awareness of sustainable and nutritious food sources continues to grow, the market is set to play a pivotal role in shaping the future of aquaculture.
Aquafeed refers to specialised feed designed for aquatic species, including fish, crustaceans, and molluscs. It is formulated with essential nutrients, including proteins, vitamins, and minerals, to ensure optimal growth, health, and productivity of farmed aquatic species. In addition to enhancing the nutritional quality of seafood, aquafeed plays a crucial role in improving feed conversion ratios and reducing environmental impacts associated with aquaculture operations.
The rising global demand for seafood, driven by the increasing population and growing awareness of the health benefits of fish consumption, is propelling the aquafeed market growth. Seafood is recognised as a rich source of essential nutrients, including omega-3 fatty acids, which are vital for cardiovascular and brain health. Consequently, the rising consumer preference for nutrient-rich diets has bolstered the demand for aquafeed, which supports sustainable and efficient aquaculture practices.
The growth of the aquaculture industry has significantly contributed to the aquafeed market expansion. Aquaculture, which involves the farming of aquatic organisms in controlled environments, is increasingly being adopted as a sustainable alternative to traditional fishing practices to meet the rising demand for seafood. This has led to an increased focus on the development and utilisation of high-quality aquafeed formulations to optimise aquaculture productivity and minimise environmental impacts.
The rising incorporation of functional additives in aquafeed, such as probiotics, prebiotics, and enzymes, has enhanced its nutritional profile and digestibility. These additives not only improve the health and immunity of aquatic species but also reduce the dependency on antibiotics, addressing growing concerns about antibiotic resistance in aquaculture. This is one of the key aquafeed market trends.
Further, precision nutrition and feed optimisation technologies are gaining traction in the aquafeed market. These technologies leverage data analytics, machine learning, and automated feeding systems to deliver customised feeding strategies that improve feed efficiency and reduce wastage, enhancing overall aquaculture productivity.
The versatility of aquafeed has further supported its growing adoption in various aquaculture practices. In the production of carnivorous fish species such as salmon and trout, aquafeed plays a critical role in meeting their high protein requirements. For omnivorous and herbivorous species, customised feed formulations enriched with plant-based proteins and essential micronutrients ensure balanced growth and improved survival rates.
The aquafeed market dynamics are also benefiting from advancements in feed formulation technologies and ingredient innovation. The development of alternative protein sources, such as insect meal, algae, and single-cell proteins, has opened new avenues for sustainable aquafeed production. These novel ingredients reduce the reliance on fishmeal and fish oil, which are associated with overfishing concerns, and contribute to the environmental sustainability of aquaculture practices.
The Asia Pacific dominates the global aquafeed market share, driven by the presence of major aquaculture-producing countries such as China, India, Vietnam, and Indonesia. The region's thriving seafood export industry and supportive government initiatives promoting sustainable aquaculture practices are key factors bolstering the market.
North America and Europe are also significant markets for aquafeed, supported by the increasing consumer preference for sustainably sourced seafood and stringent regulations on aquaculture practices. These regions are witnessing growing investments in R&D activities aimed at developing innovative and eco-friendly aquafeed formulations.
While the aquafeed market outlook presents significant growth opportunities, it is not without challenges. The rising costs of raw materials, including fishmeal and soybean meal, pose a significant challenge for aquafeed manufacturers. Additionally, the environmental impacts associated with aquaculture practices, including water pollution and habitat destruction, necessitate the adoption of sustainable feed solutions.
However, the increasing focus on circular economy principles and the utilisation of by-products from food and agriculture industries as feed ingredients increase the aquafeed market revenue. The integration of advanced technologies and sustainable practices in aquafeed production is expected to drive market growth in the coming years.
In conclusion, the global aquafeed market value is poised for significant surge, underpinned by the rising demand for seafood, advancements in feed technologies, and the expanding aquaculture industry. As consumer awareness of sustainable and nutritious food sources continues to grow, the market is set to play a pivotal role in shaping the future of aquaculture.
Market Segmentation
The market can be divided based on ingredient, additives, product form, end use, and region.Market Breakup by Ingredient
- Soybean
- Corn
- Fish Meal
- Fish Oil
- Additives
- Others
Market Breakup by Additives
- Amino Acids
- Antibiotics
- Vitamins
- Feed Acidifiers
- Others
Market Breakup by Product Form
- Pellets
- Extruded
- Powdered
- Liquid
Market Breakup by End Use
- Carps
- Shrimp
- Tilapia
- Molluscs
- Catfish
- Salmon
- Lobsters
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global aquafeed market. Some of the major players explored in the report are as follows:- Cargill Inc.
- Archer Daniels Midland Company
- Nutreco N.V.
- Aller Aqua Group
- Land O'Lakes, Inc.
- DIBAQ DIPROTEG S.A.
- Charoen Pokphand Foods PCL
- De Heus Animal Nutrition
- Grobest Group Limited
- GREENFEED VIETNAM CORPORATION
- Others
Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Global Aquafeed Market Analysis
6 North America Aquafeed Market Analysis
7 Europe Aquafeed Market Analysis
8 Asia Pacific Aquafeed Market Analysis
9 Latin America Aquafeed Market Analysis
1 Middle East and Africa Aquafeed Market Analysis
11 Market Dynamics
12 Competitive Landscape
Companies Mentioned
- Cargill Inc.
- Archer Daniels Midland Company
- Nutreco N.V.
- Aller Aqua Group
- Land O'Lakes, Inc.
- DIBAQ DIPROTEG S.A.
- Charoen Pokphand Foods PCL
- De Heus Animal Nutrition
- Grobest Group Limited
- GREENFEED VIETNAM CORPORATION
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 135 |
| Published | February 2025 |
| Forecast Period | 2025 - 2034 |
| Estimated Market Value ( USD | $ 85.62 Billion |
| Forecasted Market Value ( USD | $ 143.43 Billion |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
