The global fish feed ingredients market sales was valued at around USD 56,000.4 in 2023, registering Y-o-Y growth of 2.1%. Fish feed ingredients sales are projected to increase at a healthy CAGR of 2.8% and top a valuation of USD 74,123.9 by 2033.
Key Trends Listed by Future Market Insights (FMI):
The production of aquaculture on a global scale has dramatically increased over the past five years, and the trend indicates that it will likely continue. Due to formulation issues, a decrease in wild fish catches, and rising prices for fishmeal and fish oil, this growth increases the demand for aquaculture feeds manufactured from non-sustainable sources, such as wild-caught fish.
The global rise in aquaculture production can be attributed to several factors such as the growing human population, increasing demand for fish and seafood products, depletion of wild fish stocks, and a shift towards sustainable farming methods. This growth has led to an increased need for high-quality fish feed that is essential for maintaining the health and productivity of farmed aquatic species.
Fish feed ingredients are vital components used in formulating feeds tailored to meet the nutritional requirements of different types of aquatic species at various life stages. These ingredients typically include proteins e.g., fishmeal, soybean meal, lipids fish oil, carbohydrates wheat flour, corn, vitamins, minerals, and other functional additives like enzymes or pigments.
Aqua feed manufacturers face mounting pressure to optimize nutrient content within their formulations by utilizing cutting-edge research findings related to feeding strategies or ingredient interactions all aimed at maximizing both cost-efficiency and overall yield performance metrics per unit input across different farming systems.
There's also a growing emphasis on minimizing environmental footprints associated with intensive farming operations this includes reducing dependency upon finite resources such as wild-caught fisheries-derived inputs like fishmeal or marine-based oils through exploring alternative protein/lipid sources deemed more sustainable over time examples being plant-based meals/oils or insect-derived inputs gaining traction within industry circles recently.
| Attributes | Key Insights |
|---|---|
| Estimated Global Fish Feed Ingredients Market Size (2023E) | USD 56,000.4 million |
| Projected Fish Feed Ingredients Market Value (2033F) | USD 74,123.9 million |
| Value-based CAGR (2023 to 2033) | 2.8% |
| Top 3 Countries’ Value | USD 26,640.2 million |
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| Market Statistics | Details |
|---|---|
| Jan to Jun (H1), 2021 (A) | 1.5% |
| Jul to Dec (H2), 2021 (A) | 2.5% |
| Jan to Jun (H1), 2022 Projected (P) | 2.7% |
| Jan to Jun (H1), 2022 Outlook (O) | 2.6% |
| Jul to Dec (H2), 2022 Outlook (O) | 2.7% |
| Jul to Dec (H2), 2022 Projected (P) | 2.8% |
| Jan to Jun (H1), 2023 Projected (P) | 3.0% |
| BPS Change: H1, 2022 (O) to H1, 2022 (P) | 15 |
| BPS Change: H1, 2022 (O) to H1, 2021 (A) | 126 |
| BPS Change: H2, 2022 (O) to H2, 2022 (P) | -20 |
| BPS Change: H2, 2022 (O) to H2, 2022 (A) | -25 |
According to the Future Market Insights (FMI) analysis, global fish feed ingredients sales grew at a CAGR of 1.9% from 2018 to 2022. For the next ten years, the worldwide market for fish feed ingredients is forecast to progress at 2.8% CAGR.
Innovations like extrusion technologies have played a pivotal role in revolutionizing the fish feed production process. Extrusion is a technique that involves forcing a mixture of raw ingredients through an opening under high heat and pressure to create uniform pellets with specific shapes, sizes, and densities.
Extruded feeds exhibit better water stability than traditional methods like pelleting or meal-based diets due to their unique physical properties such as low porosity levels; this ensures minimal dissolution rates post-dispensing within aquatic environments where fishes consume them readily without experiencing any loss in structural integrity over time.
Innovations such as extrusion technologies have significantly improved the quality and efficiency of fish feed production while minimizing environmental impacts arising from excessive waste outputs generated traditionally through poor management practices linked closely with sub-optimal diet formulations not catered adequately towards meeting specific nutritional needs of cultured species under different growth conditions or life stages involved.
Due to constraints on traditional protein sources like soybean meal or fishmeal supply chains, alternative ingredients such as insect meals or single-cell proteins are gaining traction within the industry offering new opportunities for market players involved in manufacturing these novel inputs.
Principal Consultant
| Region | North America |
|---|---|
| Country | United States |
| CAGR | 2.0% |
| Share Analysis | 25.0% |
| Market Value (2033) | USD 18,531.0 million |
| Region | Europe |
|---|---|
| Country | The UK |
| CAGR | 3.7% |
| Share Analysis | 9.0% |
| Market Value (2033) | USD 6,671.2 million |
| Region | Asia Pacific |
|---|---|
| Country | China |
| CAGR | 5.0% |
| Share Analysis | 14.5% |
| Market Value (2033) | USD 10,748.0 million |
| Region | Asia Pacific |
|---|---|
| Country | India |
| CAGR | 7.0% |
| Share Analysis | 12.2% |
| Market Value (2033) | USD 9,043.1 million |
| Region | Asia Pacific |
|---|---|
| Country | Japan |
| CAGR | 4.4% |
| Share Analysis | 10.0% |
| Market Value (2033) | USD 7,412.4 million |
Increasing Consumption of Seafood in China boosts the Fish Feed Ingredients Market
As per Future Market Insights, China’s fish feed ingredients market is expected to grow at a CAGR of 3.3% from 2023 to 2033. It will therefore hold a prominent value share of 73.1% in the East Asia market.
The largest producer of aquaculture and capture fishing in the world is China. China's domestic marine catch has evolved significantly in recent decades, moving away from huge quantities of a few high-value food species to a variety of small, low-value species, a considerable number of which are largely utilized as an animal, notably fish, feed.
Strong sales in inland lower-tier cities and consumers' growing awareness of the health advantages of fish and seafood. Another factor would be that Chinese consumers are shifting their diets away from meat towards fish and shellfish thanks to the Chinese economy's optimization and its wide range of culinary options. Increased internet commerce contributed to the market's expansion as well.
Government Initiatives and Regulations Increase the Demand in the United States
According to FMI analysis, the United States fish feed ingredients industry is poised to exhibit a CAGR of 3.4% during the assessment period. By 2033, the United States market size is expected to reach USD 18,531.0 million.
Federal programs supporting sustainable fisheries management, as well as stringent regulations regarding food safety standards encourage industry players to invest in advanced feed solutions ensuring compliance while optimizing production efficiency too.
As the need for aquaculture goods is likely to rise sharply in the near future, companies and leaders are exploring using the insect-based feed, which is more practical economically and environmentally than the meals now made from fish or vegetables. Consumers still view fish raised with insects as unique products, and further research into these demand-side issues is required to confirm that there is a market for such products.
The rise of the fish trade and the associated increase in pricing for fishery goods can be attributed to both the economic growth seen in developed countries, which serve as the main markets, and consumers' increased awareness of the nutritional value of fish. In addition to traditional dishes, the trade of pre-cooked, ready-made, and fish-containing dishes has increased in the United States and the European Union as a result of scientific and technological advancements, improved chilling conditions, and the use of microwave ovens.
Investment in R&D and Technological Advancements Boosting Sales in the UK
Fish Feed Ingredients demand in the UK is anticipated to rise at a steady CAGR of 3.6% during the forecast period from 2023 to 2033. By the end of 2033, the UK is likely to hold a market share of 13.4% in the Europe market.
As environmental concerns and sustainability are the major concerns in European countries fish feed manufacturers are using plant-based ingredients in their fish feed. Because they are simpler to digest than other animal-derived proteins, plant-based components with naturally high protein and nutritional values, such as soybean, corn, cotton seed, sunflower seed, peas, and many others, are more in demand in the animal feed sector. Because they are easier to digest and have higher protein concentrations, they are the best and greatest alternative to the animal-based protein used to manufacture fish feed.
Manufacturers in the fish feed ingredient market have identified opportunities brought about by ongoing investments in research projects novel ingredients or improved processing techniques capable of not only improving formulation performance characteristics but also reducing costs at the same time, thereby driving further growth even still across all segments involved.
High Protein Concentration and a Good Source of Calcium, Phosphorus, and other minerals fish meal is used in the fish feed
Based on ingredient type, demand is expected to remain high for fish meal during the assessment period. As per Future Market Insights, with a market share of around 23.6%, the fish oil segment is growing at a CAGR of 4.5%.
Ingredients for marine feed are rare materials, and output has been fairly consistent previously. Most fishmeal is used as a high-protein component of livestock and aquaculture feed. Fresh raw fish or shellfish are cooked, pressed, dried, and ground to create fishmeal. Small, fatty species including anchovies, sprats, herring, and krill are typical. The fish is transformed into fishmeal, a coarse brown flour, after being cooked and dried. Fishmeal is a top-notch source of protein that is mostly fed to cattle and aquaculture animals.
Fish oil is made whenever fatty fish is cooked for consumption. A fully omega-3 fatty acid-based marine oil, it is. The primary uses of fish oil are to make feed for farmed fish and refined fish oil for human use. The need for fishmeal and fish oil in the aquaculture business, notably from the farming of marine species, has caused a substantial change in the composition of feed during the past few decades. It used to be primarily made of marine materials, but it now contains a sizable amount of plant elements.
As aquaculture production continues to grow, the need for high-quality fish feed also increases.
The fish feed segment is anticipated to thrive at 4.3% CAGR during the projection period. Fish feed sector holds a market share in the fish feed ingredients market of around 29.4% in 2023
Due to seafood's many health advantages, there has been a change among consumers as they become more aware of their dietary choices and nutritional consumption toward healthier options. The demand for farmed fish products that use specialized fish feed products rises as a result.
Omega-3 fatty acids like EPA and DHA, which are critical for supporting cardiovascular health and brain function, may be found in abundance in seafood. Fish is a good source of high-quality protein and contains all nine essential amino acids needed by humans for healthy muscle growth. As more consumers learn about the nutritional advantages of eating seafood, there is a growing trend towards including such healthy options in diets, which raises demand throughout the entire supply chain, from farming practices to post-harvest processing stages.
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Leading fish feed ingredient manufacturers are constantly launching a new range of products to meet consumer demand. They are also using strategies such as mergers & acquisitions, partnerships, distribution agreements, collaborations, advertisements, and celebrity endorsements to gain a competitive edge in the market.
For instance:
| Attribute | Details |
|---|---|
| Market Size Value in 2023 | USD 56,000.4 million |
| Market Forecast Value in 2033 | USD 74,123.9 million |
| Anticipated Growth Rate (2023 to 2033) | 2.8% CAGR |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Volume (MT) and Value (USD Million) |
| Key Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; and Middle East & Africa |
| Key Countries Covered | Canada, United States, Mexico, Brazil, Chile, Peru, Argentina, Germany, France, Italy, Spain, United Kingdom, Netherlands, Belgium, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Central Africa, and others |
| Key Market Segments Covered | Ingredient Type, End User, and Region |
| Key Companies Profiled | Cargill Aqua Nutrition; ADM Animal Nutrition; Skretting; Alltech Coppens; BioMar; Ridley Aqua Feed; Nutreco; Avanti Feeds Limited; Ridley Corporation Limited |
The market is valued at USD 56,000.4 million in 2023.
The market rose at a 1.9% CAGR from 2018 to 2022.
Fish meal remains most preferred.
the United States is likely to reach USD 18,531.0 million by 2033.
Cargill Aqua Nutrition, ADM Animal Nutrition and Skretting are the leading industry players in the market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Ingredient Type 5.1. Fishmeal 5.2. Fish Oil 5.3. Soybean Meal 5.4. Grain Based Meal 5.5. Vegetable Oils 5.6. Vitamins & Minerals 5.7. Poultry Meal 5.8. Blood Meal 5.9. Hydrolyzed Feather Meal 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 6.1. Fish Feed 6.1.1. Salmon feed 6.1.2. Carp feed 6.1.3. Tilapia feed 6.1.4. Catfish feed 6.2. Mollusks 6.2.1. Oyster feed 6.2.2. Mussel feed 6.3. Crustaceans 6.3.1. Crab feed 6.3.2. Shrimp feed 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. East Asia 7.5. South Asia 7.6. Oceania 7.7. MEA 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Cargill Aqua Nutrition 17.2. ADM Animal Nutrition 17.3. Skretting 17.4. Alltech Coppens 17.5. BioMar 17.6. Ridley Aqua Feed 17.7. Nutreco 17.8. Avanti Feeds Limited 17.9. Ridley Corporation Limited 17.10. Others on Additional Request 18. Assumptions & Acronyms Used 19. Research Methodology
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Fish Feed Ingredients Market
