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    Fishmeal And Fish Oil Market

    ID: MRFR/F-B & N/25599-HCR
    128 Pages
    Varsha More
    October 2025

    Fishmeal and Fish Oil Market Research Report By Type (Fishmeal, Fish Oil), By Source (Wild-Caught Fish, Aquaculture), By Application (Aquaculture Feed, Animal Feed, Human Consumption, Industrial Applications), By Processing Method (Low-Temperature Drying, High-Temperature Drying, Solvent Extraction), By Grade (Food Grade, Animal Feed Grade, Technical Grade) and By Regional (North America, Europe, South America, Asia-Pacific, Middle East and Africa) - Forecast to 2035.

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    Fishmeal And Fish Oil Market Infographic
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    Fishmeal And Fish Oil Market Summary

    As per MRFR analysis, the Fishmeal And Fish Oil Market Size was estimated at 12.92 USD Billion in 2024. The Fishmeal And Fish Oil industry is projected to grow from 13.27 USD Billion in 2025 to 17.34 USD Billion by 2035, exhibiting a compound annual growth rate (CAGR) of 2.71 during the forecast period 2025 - 2035.

    Key Market Trends & Highlights

    The Fishmeal and Fish Oil Market is experiencing a dynamic shift towards sustainability and innovation.

    • North America remains the largest market for fishmeal and fish oil, driven by robust demand in aquaculture and animal nutrition.
    • The Asia-Pacific region is emerging as the fastest-growing market, reflecting increasing investments in aquaculture and health-focused dietary trends.
    • Fishmeal continues to dominate the market, while fish oil is rapidly gaining traction due to its health benefits and diverse applications.
    • Rising demand for aquaculture feed and the health benefits of omega-3 fatty acids are key drivers propelling market growth.

    Market Size & Forecast

    2024 Market Size 12.92 (USD Billion)
    2035 Market Size 17.34 (USD Billion)
    CAGR (2025 - 2035) 2.71%

    Major Players

    Nutreco (NL), Cargill (US), Danish Fishmeal (DK), Omega Protein (US), Maruha Nichiro (JP), Austevoll Seafood (NO), Pesquera Diamante (PE), Sierra Fishmeal (PE), TripleNine Group (DK)

    Fishmeal And Fish Oil Market Trends

    The Fishmeal And Fish Oil Market is currently experiencing a dynamic phase characterized by evolving consumer preferences and increasing demand for sustainable aquaculture practices. As the global population continues to grow, the need for protein sources, particularly from marine origins, appears to be on the rise. This trend is further fueled by the growing awareness of the nutritional benefits associated with fishmeal and fish oil, which are rich in omega-3 fatty acids. Consequently, stakeholders in the industry are likely to focus on enhancing production efficiency and sustainability measures to meet the burgeoning demand while minimizing environmental impacts. Moreover, the Fishmeal And Fish Oil Market is witnessing a shift towards innovative processing techniques and product diversification. Companies are exploring new methods to extract and refine fish oil, aiming to improve quality and shelf life. Additionally, the integration of fishmeal and fish oil into various sectors, including pet food and dietary supplements, suggests a broadening of market applications. This diversification may provide opportunities for growth, as manufacturers seek to cater to a wider array of consumer needs and preferences. Overall, the Fishmeal And Fish Oil Market seems poised for continued evolution, driven by sustainability, innovation, and a growing recognition of the health benefits associated with marine-derived products.

    Sustainability Initiatives

    The Fishmeal And Fish Oil Market is increasingly influenced by sustainability initiatives aimed at reducing environmental impacts. Stakeholders are adopting practices that promote responsible sourcing and fishing methods, which may enhance the market's reputation and appeal to environmentally conscious consumers.

    Technological Advancements

    Technological advancements in processing and extraction methods are transforming the Fishmeal And Fish Oil Market. Innovations that improve efficiency and product quality could lead to enhanced profitability for producers, while also meeting the rising demand for high-quality marine products.

    Diversification of Applications

    The diversification of applications for fishmeal and fish oil is becoming more pronounced. Beyond traditional uses in aquaculture, these products are finding their way into pet food, dietary supplements, and functional foods, potentially expanding market reach and consumer base.

    The global fishmeal and fish oil market is poised for growth, driven by increasing demand in aquaculture and the rising recognition of the nutritional benefits of omega-3 fatty acids.

    Food and Agriculture Organization of the United Nations (FAO)

    Fishmeal And Fish Oil Market Drivers

    Rising Demand for Aquaculture Feed

    The Fishmeal And Fish Oil Market is experiencing a notable surge in demand for aquaculture feed, driven by the increasing global consumption of seafood. As aquaculture continues to expand, fishmeal and fish oil serve as essential components in fish feed formulations, providing high-quality protein and omega-3 fatty acids. Recent data indicates that aquaculture production has reached approximately 114 million metric tons, highlighting the industry's growth potential. This trend suggests that the Fishmeal And Fish Oil Market will likely benefit from the rising need for sustainable and nutritious feed options, as aquaculture operations seek to enhance their productivity and meet consumer preferences for healthy seafood.

    Health Benefits of Omega-3 Fatty Acids

    The Fishmeal And Fish Oil Market is significantly influenced by the growing awareness of the health benefits associated with omega-3 fatty acids. These essential nutrients, primarily found in fish oil, are linked to various health advantages, including cardiovascular health, cognitive function, and anti-inflammatory properties. As consumers increasingly prioritize health and wellness, the demand for omega-3-rich products is expected to rise. Market data suggests that the global omega-3 market is projected to reach USD 57 billion by 2025, indicating a robust growth trajectory. This trend underscores the potential for the Fishmeal And Fish Oil Market to capitalize on the increasing consumer inclination towards health-oriented dietary supplements and functional foods.

    Technological Innovations in Production

    The Fishmeal And Fish Oil Market is benefiting from technological innovations that enhance production efficiency and product quality. Advances in processing techniques, such as enzymatic hydrolysis and improved extraction methods, are enabling manufacturers to optimize yields and reduce waste. These innovations not only contribute to cost-effectiveness but also align with the industry's sustainability objectives. Recent studies indicate that the adoption of such technologies could potentially increase fishmeal production by 20% over the next five years. This trend suggests that the Fishmeal And Fish Oil Market is poised for growth as companies leverage technology to meet rising demand while adhering to environmental standards.

    Expanding Applications in Animal Nutrition

    The Fishmeal And Fish Oil Market is witnessing an expansion of applications in animal nutrition beyond aquaculture. The increasing incorporation of fishmeal and fish oil in livestock feed formulations, particularly in poultry and swine production, is driving market growth. These ingredients are recognized for their high digestibility and nutritional value, which can enhance animal health and growth performance. Market analysis indicates that the inclusion of fishmeal in livestock diets can improve feed conversion ratios by up to 10%. This trend highlights the potential for the Fishmeal And Fish Oil Market to diversify its customer base and capitalize on the growing demand for high-quality animal feed.

    Sustainability and Environmental Regulations

    The Fishmeal And Fish Oil Market is navigating a landscape shaped by heightened sustainability and environmental regulations. As concerns regarding overfishing and marine ecosystem degradation intensify, regulatory bodies are implementing stricter guidelines to ensure sustainable fishing practices. This shift compels fishmeal and fish oil producers to adopt more responsible sourcing methods, which may enhance their market appeal. Furthermore, the industry is witnessing a growing trend towards the use of alternative protein sources, such as plant-based ingredients, to complement traditional fishmeal. This evolution suggests that the Fishmeal And Fish Oil Market must adapt to these regulatory pressures while exploring innovative solutions to meet sustainability goals.

    Market Segment Insights

    By Type: Fishmeal (Largest) vs. Fish Oil (Fastest-Growing)

    In the Fishmeal and Fish Oil Market, the distribution of market share reveals that fishmeal holds a significant position, being recognized as the largest segment. This dominance can be attributed to its extensive application in animal feed, aquaculture, and human consumption within various culinary practices. Fishmeal's rich nutrient profile makes it a preferred choice for livestock, ensuring a steady demand in the sector. On the other hand, fish oil has been gaining traction, particularly due to its health benefits and nutritional properties. The rising awareness regarding omega-3 fatty acids and their associated health advantages has propelled fish oil towards enhanced market visibility and growth opportunities.

    Fishmeal (Dominant) vs. Fish Oil (Emerging)

    Fishmeal is characterized by its high protein and nutrient content, making it a staple in animal feeds and aquaculture. Its established market presence is reflected in its robust demand, particularly from livestock producers and aquaculture ventures seeking sustainable protein sources. Conversely, fish oil, while emerging, is rapidly capturing attention for its health benefits, particularly related to cardiovascular health and brain function. As consumers become more health-conscious, the demand for fish oil supplements is surging, driving innovations in extraction methods and product formulations. Both segments exhibit strong growth potential, with fishmeal maintaining its dominance and fish oil emerging as a dynamic segment fueled by health trends.

    By Source: Wild-Caught Fish (Largest) vs. Aquaculture (Fastest-Growing)

    The Fishmeal and Fish Oil Market segments into two primary sources: Wild-Caught Fish and Aquaculture. Currently, Wild-Caught Fish represents the largest portion of the market, providing the traditional base for fishmeal and fish oil production. This traditional sourcing method is well-established but increasingly faces challenges such as regulations and declining fish populations, which influence its market share.

    Source: Wild-Caught Fish (Dominant) vs. Aquaculture (Emerging)

    Among the two segments, Wild-Caught Fish stands as the dominant player, providing high-quality fishmeal with a longer history in the industry. However, due to overfishing concerns, it is under pressure to maintain sustainability. Conversely, Aquaculture is emerging rapidly, fueled by increasing consumer demand for sustainable products. It benefits from advancements in farming techniques and a solid supply chain, leading to higher production efficiencies. The growth of aquaculture is driven by its ability to meet the rising global demand for fishmeal while adhering to sustainable practices.

    By Application: Aquaculture Feed (Largest) vs. Human Consumption (Fastest-Growing)

    The Fishmeal and Fish Oil Market is primarily driven by the demand in various applications, with significant market share distribution among aquaculture feed, animal feed, human consumption, and industrial applications. Aquaculture feed dominates the sector, leveraging the growing aquaculture industry to secure its leading position. Conversely, while human consumption currently holds a smaller share, it is rapidly gaining traction due to rising health consciousness and dietary shifts towards protein-rich foods, making it one of the fastest-growing segments in the market.

    Aquaculture Feed (Dominant) vs. Human Consumption (Emerging)

    Aquaculture feed stands as the dominant segment within the Fishmeal and Fish Oil Market, vital for sustaining the growing aquaculture industry and ensuring optimal fish health and growth rates. Its established position is underscored by a strong reliance on fishmeal for nutrition in farmed species. On the other hand, human consumption emerges as an exciting growth opportunity, fueled by a global trend towards healthier eating habits and the incorporation of omega-3-rich fish oils into diets. This segment is witnessing innovations in product offerings, positioning it favorably for future growth as dietary preferences evolve.

    By Processing Method: Low-Temperature Drying (Largest) vs. Solvent Extraction (Fastest-Growing)

    In the Fishmeal and Fish Oil Market, the processing method segment shows a diverse distribution among its key players. Low-Temperature Drying accounts for the largest share, primarily due to its ability to preserve nutritional quality while reducing protein denaturation. Following closely is High-Temperature Drying, which, while effective, faces scrutiny over potential nutrient loss. Solvent Extraction, though a smaller segment, is rapidly gaining traction due to its efficiency in oil extraction, making it a focal point for growth in the industry.

    Processing Methods: Low-Temperature Drying (Dominant) vs. Solvent Extraction (Emerging)

    Low-Temperature Drying is recognized as the dominant processing method in the Fishmeal and Fish Oil Market due to its favorable impact on maintaining the quality of fishmeal. This method minimizes thermal degradation, ensuring higher retention of omega-3 fatty acids and other essential nutrients, which are crucial for market appeal. On the other hand, Solvent Extraction, while currently emerging, is poised for substantial growth owing to its efficiency in separating oils from fish biomass. This method is gaining popularity among manufacturers seeking cost-effective and efficient means of production. As consumers and producers alike become more health-conscious, the demand for high-quality fish oil obtained through these methods is expected to increase, positioning both methods uniquely in the market.

    By Grade: Food Grade (Largest) vs. Animal Feed Grade (Fastest-Growing)

    The Fishmeal and Fish Oil market is segmented into three key grades: Food Grade, Animal Feed Grade, and Technical Grade. Among these, the Food Grade segment holds the largest share, driven by the rising demand for high-quality protein sources in the food industry. The Animal Feed Grade is also experiencing significant growth as livestock producers increasingly seek sustainable and nutritional feed alternatives to enhance animal health and productivity. Meanwhile, the Technical Grade is used in industrial applications but takes a smaller portion of the overall market share.

    Food Grade (Dominant) vs. Animal Feed Grade (Emerging)

    The Food Grade segment stands out as the dominant player in the Fishmeal and Fish Oil market, characterized by its high purity standards and compliance with safety regulations for human consumption. This segment has benefited from increasing consumer awareness regarding health and nutrition, prompting food manufacturers to use fishmeal as a key ingredient in premium products. In contrast, the Animal Feed Grade represents an emerging segment, rapidly gaining traction due to shifts towards sustainable livestock farming practices. It offers nutritional benefits that enhance animal growth and immune response, positioning itself as a preferred choice in the agricultural sector, thereby driving innovation and investment.

    Get more detailed insights about Fishmeal And Fish Oil Market

    Regional Insights

    North America : Market Leader in Fishmeal

    North America is the largest market for fishmeal and fish oil, holding approximately 35% of the global market share. The region's growth is driven by increasing demand for aquaculture and pet food, alongside stringent regulations promoting sustainable fishing practices. The U.S. and Canada are the primary contributors, with a focus on eco-friendly sourcing and production methods. Regulatory frameworks are evolving to support sustainable practices, enhancing market growth. The competitive landscape in North America features key players like Cargill and Omega Protein, which are investing in innovative production techniques. The presence of advanced technology and research institutions further strengthens the market. The region's focus on sustainability and quality assurance is attracting investments, making it a hub for fishmeal and fish oil production. The growing awareness of health benefits associated with fish oil is also contributing to market expansion.

    Europe : Sustainable Practices in Focus

    Europe is the second-largest market for fishmeal and fish oil, accounting for around 30% of the global share. The region's growth is propelled by increasing aquaculture production and a rising demand for sustainable seafood. Regulatory bodies are enforcing strict guidelines to ensure sustainable fishing practices, which are crucial for market expansion. Countries like Norway and Denmark lead the market, supported by robust aquaculture sectors and innovative practices. The competitive landscape in Europe is characterized by key players such as Nutreco and TripleNine Group, which are focusing on sustainable sourcing and production. The presence of advanced research institutions enhances innovation in fishmeal production. Additionally, the European Union's commitment to sustainability and environmental protection is driving investments in eco-friendly practices, making the region a leader in responsible fishmeal production.

    Asia-Pacific : Emerging Market with Growth Potential

    Asia-Pacific is witnessing rapid growth in the fishmeal and fish oil market, holding approximately 25% of the global share. The region's expansion is driven by increasing aquaculture activities, particularly in countries like China and Japan. The rising demand for fishmeal in animal feed and aquaculture is supported by favorable government policies promoting fish farming. Regulatory frameworks are gradually evolving to address sustainability concerns, further boosting market growth. Leading countries in the Asia-Pacific region include China, Japan, and India, with significant investments in aquaculture and fishmeal production. The competitive landscape features key players like Maruha Nichiro and Austevoll Seafood, which are focusing on innovation and sustainability. The region's growing middle class is driving demand for high-quality fish products, creating opportunities for market expansion and attracting foreign investments.

    Middle East and Africa : Untapped Potential in Fishmeal Market

    The Middle East and Africa region is emerging as a potential market for fishmeal and fish oil, currently holding about 10% of the global share. The growth is driven by increasing aquaculture practices and a rising demand for fish-based products. Countries like South Africa and Egypt are leading the way, supported by government initiatives aimed at boosting local fish production. Regulatory frameworks are being developed to enhance sustainability and ensure responsible fishing practices. The competitive landscape in this region is still developing, with local players beginning to invest in fishmeal production. The presence of key players is limited, but there is significant potential for growth as awareness of the nutritional benefits of fishmeal increases. The region's untapped resources and favorable climatic conditions present opportunities for investment and expansion in the fishmeal market, making it an attractive area for future development.

    Key Players and Competitive Insights

    The Fishmeal and Fish Oil Market is currently characterized by a dynamic competitive landscape, driven by increasing demand for sustainable aquaculture and the nutritional benefits of fish-derived products. Key players such as Nutreco (NL), Cargill (US), and Omega Protein (US) are strategically positioned to leverage their extensive supply chains and innovative practices. Nutreco (NL) focuses on enhancing its product offerings through research and development, particularly in sustainable fishmeal alternatives, while Cargill (US) emphasizes digital transformation to optimize its operations and improve traceability in its supply chain. Omega Protein (US) is actively pursuing partnerships to expand its market reach, particularly in the health and wellness sectors, thereby shaping a competitive environment that prioritizes sustainability and innovation.

    The market structure appears moderately fragmented, with several players vying for market share. Key business tactics include localizing manufacturing to reduce costs and enhance supply chain efficiency. Companies are increasingly investing in technology to streamline operations and improve product quality. The collective influence of these major players fosters a competitive atmosphere where innovation and sustainability are paramount, potentially reshaping consumer preferences and market dynamics.

    In August 2025, Cargill (US) announced a significant investment in a new fish oil processing facility in Norway, aimed at increasing production capacity and enhancing sustainability practices. This strategic move is likely to bolster Cargill's position in the European market, allowing for greater supply chain efficiency and a stronger commitment to environmentally friendly practices. The facility is expected to utilize advanced technologies that minimize waste and optimize resource use, aligning with global sustainability trends.

    In September 2025, Nutreco (NL) launched a new line of fishmeal products derived from bycatch, which not only addresses sustainability concerns but also enhances the nutritional profile of aquaculture feeds. This initiative reflects Nutreco's commitment to innovation and responsible sourcing, potentially setting a new standard in the industry. By utilizing bycatch, Nutreco (NL) not only reduces waste but also contributes to a more circular economy within the fishing industry.

    In October 2025, Omega Protein (US) entered into a strategic partnership with a leading health supplement company to develop omega-3 enriched products. This collaboration is indicative of Omega Protein's strategy to diversify its product offerings and tap into the growing health-conscious consumer segment. By aligning with a reputable health brand, Omega Protein (US) is likely to enhance its market presence and drive growth in the nutraceutical space.

    As of October 2025, current competitive trends in the Fishmeal and Fish Oil Market are increasingly defined by digitalization, sustainability, and the integration of artificial intelligence in production processes. Strategic alliances are becoming more prevalent, as companies recognize the value of collaboration in enhancing innovation and market reach. Looking ahead, competitive differentiation is expected to evolve from traditional price-based competition to a focus on technological advancements, sustainable practices, and supply chain reliability, thereby reshaping the future landscape of the industry.

    Key Companies in the Fishmeal And Fish Oil Market market include

    Industry Developments

    • Q1 2024: Global fishmeal supplies grow significantly, while fish oil market remains constrained In 2024, global fishmeal supply increased sharply due to strong fishing of small pelagic fish in Peru, with two annual quotas reaching nearly 5 million tons, up from 1.3 million tons in 2023. Despite the surge in fishmeal, fish oil production from Peruvian fishing remained low and reserves were largely exhausted, constraining the fish oil market.
    • Q1 2024: Global fishmeal supplies grow significantly, while fish oil market remains constrained As of October 2024, Peru produced 670,000 tonnes of fishmeal, up 123% from the previous year, driven by a large anchovy quota and favorable weather conditions.
    • Q2 2024: IFFO releases estimates for 2024 fishmeal and fish oil production IFFO reported that fishmeal production increased by 26% and fish oil production rose by 12% compared to 2023, primarily due to the recovery of anchovy landings in Peru.
    • Q2 2025: Global fishmeal and fish oil production rises sharply in early 2025 Global fishmeal production rose by approximately 29% year over year in Q1 2025, mainly driven by Peru, with Chile, Spain, USA, and several African nations also reporting gains. Fish oil production increased 34% through March 2025.
    • Q2 2025: Consistent fishmeal and fish oil supply predicted for remainder of 2025 IFFO predicts consistent fishmeal and fish oil production for 2025 following Peru’s first fishing season, with around 70% of the 3-million-tonne anchovy quota fulfilled. IFFO estimates 5.6 million tonnes of fishmeal and 1.2-1.3 million tonnes of fish oil for 2025.
    • Q2 2025: Fishmeal and fish oil production declined from January to May In May 2025, total cumulative fishmeal production decreased by approximately 2% compared to the same period in 2024, with fish oil production also declining slightly year-on-year, marking a halt to the upward trend seen in 2024.

    Future Outlook

    Fishmeal And Fish Oil Market Future Outlook

    The Fishmeal and Fish Oil Market is projected to grow at a 2.71% CAGR from 2024 to 2035, driven by rising aquaculture demand and health trends favoring omega-3 fatty acids.

    New opportunities lie in:

    • Expansion into plant-based protein alternatives for aquaculture feed.
    • Development of sustainable sourcing certifications to attract eco-conscious consumers.
    • Investment in advanced processing technologies to enhance product quality and yield.

    By 2035, the market is expected to solidify its position as a key player in the global protein supply chain.

    Market Segmentation

    Fishmeal And Fish Oil Market Type Outlook

    • Fishmeal
    • Fish Oil

    Fishmeal And Fish Oil Market Grade Outlook

    • Food Grade
    • Animal Feed Grade
    • Technical Grade

    Fishmeal And Fish Oil Market Source Outlook

    • Wild-Caught Fish
    • Aquaculture

    Fishmeal And Fish Oil Market Application Outlook

    • Aquaculture Feed
    • Animal Feed
    • Human Consumption
    • Industrial Applications

    Fishmeal And Fish Oil Market Processing Method Outlook

    • Low-Temperature Drying
    • High-Temperature Drying
    • Solvent Extraction

    Report Scope

    MARKET SIZE 202412.92(USD Billion)
    MARKET SIZE 202513.27(USD Billion)
    MARKET SIZE 203517.34(USD Billion)
    COMPOUND ANNUAL GROWTH RATE (CAGR)2.71% (2024 - 2035)
    REPORT COVERAGERevenue Forecast, Competitive Landscape, Growth Factors, and Trends
    BASE YEAR2024
    Market Forecast Period2025 - 2035
    Historical Data2019 - 2024
    Market Forecast UnitsUSD Billion
    Key Companies ProfiledMarket analysis in progress
    Segments CoveredMarket segmentation analysis in progress
    Key Market OpportunitiesGrowing demand for sustainable aquaculture drives innovation in the Fishmeal And Fish Oil Market.
    Key Market DynamicsRising demand for sustainable aquaculture drives innovation and competition in the fishmeal and fish oil market.
    Countries CoveredNorth America, Europe, APAC, South America, MEA

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    FAQs

    What is the projected market valuation for the Fishmeal and Fish Oil Market in 2035?

    The Fishmeal and Fish Oil Market is projected to reach a valuation of 17.34 USD Billion by 2035.

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