Summary

Global Fishmeal Market is valued approximately at USD 9.68 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 6.28% over the forecast period 2024-2032. As the world navigates the challenges of food security, environmental preservation, and livestock productivity, fishmeal emerges as a high-value commodity that bridges nutritional efficacy and sustainability. Extracted predominantly from nutrient-dense marine species like anchovy, sardines, and mackerel, as well as aquaculture byproducts, fishmeal is lauded for its rich protein content, essential amino acids, and omega-3 fatty acids. It is indispensable in animal nutrition—particularly aquafeed—where performance, digestibility, and feed conversion ratios are critical success factors. With growing consumer appetite for protein, especially seafood, and an expanding global aquaculture industry, fishmeal is reclaiming prominence as a key functional ingredient.
A surge in demand for high-performance animal feed formulations, driven by growing meat and seafood consumption, is fueling fishmeal market expansion. The aquaculture sector—especially salmon, trout, and tilapia farming—remains the largest end user, as fishmeal supports rapid growth rates, immune response, and reproduction efficiency. At the same time, poultry and swine producers are reintroducing fishmeal as a superior supplement, seeking to enhance nutrient density amid reduced antibiotic usage. Fertilizer applications are also picking up steam, where organic and bio-based fertilizers fortified with fishmeal are being embraced in regenerative agriculture for their soil-enhancing properties. Additionally, fishmeal’s global supply chain is being reinforced through improved fishery management practices, byproduct valorization, and circular economy models.
Technological strides in fishmeal processing—such as low-temperature rendering, enzymatic hydrolysis, and fractionation—are revolutionizing its value proposition. These innovations help retain nutrient integrity, reduce anti-nutritional factors, and create specialty fishmeal variants tailored to species-specific nutritional profiles. Furthermore, investments in digital traceability and sustainability certifications, including IFFO RS (Responsible Supply) and Marine Stewardship Council (MSC) labeling, are enhancing transparency and trust within the supply chain. As manufacturers prioritize ethical sourcing and carbon footprint reduction, fishmeal is finding favor among eco-conscious producers and retailers targeting premium, certified animal protein products.
Geographically, Asia Pacific dominates the global fishmeal market, driven by massive aquaculture output and feed demand in China, Vietnam, India, and Indonesia. This region’s growth is reinforced by government-supported fisheries and shifting dietary trends toward high-protein seafood. Europe follows with a strong presence of certified fishmeal production and robust salmon farming industries in Norway and the UK. North America is expanding steadily with technological upgrades and diversification into pet food and organic fertilizer sectors. Latin America, particularly Peru and Chile, remains a critical supplier, while the Middle East & Africa are emerging as new growth territories, benefiting from rising aquaculture investments and protein self-sufficiency initiatives.
Major market player included in this report are:
• BioMar Group
• Copeinca ASA
• GC Rieber Oils AS
• Croda International PLC
• Austevoll Seafood ASA
• Scoular Company
• Oceana Group Limited
• Pelagia AS
• TASA (Tecnológica de Alimentos S.A.)
• TripleNine Group A/S
• Sürsan
• FF Skagen A/S
• Omega Protein Corporation
• Pesquera Exalmar S.A.A
• Havsbrún
The detailed segments and sub-segment of the market are explained below:
By Source
• Salmon & Trout
• Marine Fish
• Crustaceans
• Tilapia
• Others
By Livestock
• Ruminants
• Poultry
• Swine
• Aquatic Animals
• Others
By Application
• Fertilizers
• Animal Feed
• Others
By Region:
North America
• U.S.
• Canada
Europe
• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia Pacific
Latin America
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa
Years considered for the study are as follows:
• Historical year – 2022
• Base year – 2023
• Forecast period – 2024 to 2032
Key Takeaways:
• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.

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Table of Contents

Table of Contents
Chapter 1. Global Fishmeal Market Executive Summary
1.1. Global Fishmeal Market Size & Forecast (2022 2032)
1.2. Regional Summary
1.3. Segmental Summary
1.3.1. By Source (Salmon & Trout, Marine Fish, Crustaceans, Tilapia, and Others)
1.3.2. By Livestock (Ruminants, Poultry, Swine, Aquatic Animals, and Others)
1.3.3. By Application (Fertilizers, Animal Feed, and Others)
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Fishmeal Market Definition and Research Assumptions
2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
2.3.1. Inclusion & Exclusion
2.3.2. Limitations
2.3.3. Supply Side Analysis
2.3.3.1. Availability
2.3.3.2. Infrastructure
2.3.3.3. Regulatory Environment
2.3.3.4. Market Competition
2.3.3.5. Economic Viability (Producer’s Perspective)
2.3.4. Demand Side Analysis
2.3.4.1. Regulatory Frameworks
2.3.4.2. Technological Advancements
2.3.4.3. Environmental Considerations
2.3.4.4. Producer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates
Chapter 3. Global Fishmeal Market Dynamics
3.1. Market Drivers
3.1.1. Rising global demand for protein-rich animal feed and seafood
3.1.2. Increasing need for high-quality, nutrient-dense feed in aquaculture
3.1.3. Enhanced consumer focus on sustainable and certified fishmeal
3.2. Market Challenges
3.2.1. Fluctuations in raw material supply and cost volatility
3.2.2. Complexities in fishery management and byproduct valorization
3.3. Market Opportunities
3.3.1. Innovations in low-temperature rendering and enzymatic hydrolysis
3.3.2. Advancements in digital traceability and sustainability certifications
3.3.3. Expansion in emerging aquaculture and alternative protein sectors
Chapter 4. Global Fishmeal Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s Model
4.1.7. Porter’s 5 Force Impact Analysis
4.2. PESTEL Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.2.5. Environmental
4.2.6. Legal
4.3. Top Investment Opportunity
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Fishmeal Market Size & Forecasts by Source 2022 2032
5.1. Segment Dashboard
5.2. Market: Source Revenue Trend Analysis, 2022 & 2032 (USD Billion)
5.2.1. Salmon & Trout
5.2.2. Marine Fish
5.2.3. Crustaceans
5.2.4. Tilapia
5.2.5. Others
Chapter 6. Global Fishmeal Market Size & Forecasts by Livestock and Application 2022 2032
6.1. Segment Dashboard
6.2. Market: Livestock Revenue Trend Analysis, 2022 & 2032 (USD Billion)
6.2.1. Ruminants
6.2.2. Poultry
6.2.3. Swine
6.2.4. Aquatic Animals
6.2.5. Others
6.3. Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Billion)
6.3.1. Fertilizers
6.3.2. Animal Feed
6.3.3. Others
Chapter 7. Global Fishmeal Market Size & Forecasts by Region 2022 2032
7.1. North America Market
7.1.1. U.S. Market
7.1.1.1. Source & Livestock breakdown, 2022 2032
7.1.1.2. Application breakdown, 2022 2032
7.1.2. Canada Market
7.2. Europe Market
7.2.1. UK Market
7.2.2. Germany Market
7.2.3. France Market
7.2.4. Spain Market
7.2.5. Italy Market
7.2.6. Rest of Europe Market
7.3. Asia Pacific Market
7.3.1. China Market
7.3.2. India Market
7.3.3. Japan Market
7.3.4. Australia Market
7.3.5. South Korea Market
7.3.6. Rest of Asia Pacific Market
7.4. Latin America Market
7.4.1. Brazil Market
7.4.2. Mexico Market
7.4.3. Rest of Latin America Market
7.5. Middle East & Africa Market
7.5.1. Saudi Arabia Market
7.5.2. South Africa Market
7.5.3. Rest of Middle East & Africa Market
Chapter 8. Competitive Intelligence
8.1. Key Company SWOT Analysis
8.1.1. BioMar Group
8.1.2. Copeinca ASA
8.1.3. GC Rieber Oils AS
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. BioMar Group
8.3.1.1. Key Information
8.3.1.2. Overview
8.3.1.3. Financial (Subject to Data Availability)
8.3.1.4. Product Summary
8.3.1.5. Market Strategies
8.3.2. Copeinca ASA
8.3.3. GC Rieber Oils AS
8.3.4. Croda International PLC
8.3.5. Austevoll Seafood ASA
8.3.6. Scoular Company
8.3.7. Oceana Group Limited
8.3.8. Pelagia AS
8.3.9. TASA (Tecnológica de Alimentos S.A.)
8.3.10. TripleNine Group A/S
8.3.11. Sürsan
8.3.12. FF Skagen A/S
8.3.13. Omega Protein Corporation
8.3.14. Pesquera Exalmar S.A.A
8.3.15. Havsbrún
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes