The global fish meal alternative market size reached a valuation of USD 1,924.2 million in 2023. The expanding nutritional value and wide ranges of applications are projected to be the market's primary growth drivers. The overall sales of fish meal alternative products are projected to grow at a robust CAGR of 7.1% between 2023 and 2033, totaling around USD 3,674.0 million by the end of 2033.
| Attribute | Details |
|---|---|
| Fish Meal Alternative Market Size (2023) | USD 1,924.2 million |
| Fish Meal Alternative Market Revenue Forecast (2033) | USD 3,674.0 million |
| Fish Meal Alternative Market Growth Rate (2023 to 2033) | 7.1% CAGR |
| North America Market Share | 30.1% |
Fish meal alternative solutions are more sustainable and environmentally friendly than traditional fish meals, which are made from small marine fish, cultured fish, and processed fish by-products. The bulk of fish meal alternatives are derived from plant sources, with a smaller proportion derived from non-plant sources such as met industry waste or by-products and microorganisms.
The global preference for sustainable and cost-effective farming is predicted to propel the fish meal alternative industry to an elevated CAGR throughout the forecast period. The Asia Pacific region is expected to dominate the fish meal alternative market since it is the major consumer of all kinds of feeds and preservatives.
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Demands for ethical and substantial food are expected to dominate the fish meal alternative market. With the soaring cost of raw materials required for fish meal production and constricted industrial capacity, manufacturers are looking for alternatives to meet the rising demand for fish meals.
Global protein demand is increasing in tandem with population growth, necessitating the use of alternative protein sources; thus, fish meal alternative products are ideal for addressing the mounting concern of food scarcity while also lowering carbon footprint.
The burgeoning population's demand for organic poultry products is stimulating the expansion of the fishmeal substitute market. Plant-based ingredients are regarded as a preferred alternative to fishmeal because they are filled with protein and omega-3 fatty acids and have a high digestibility. Soy products influence the fishmeal substitute market.
Over the forthcoming years, the global fish meal market is anticipated to be restrained by competitive pricing and a lack of awareness.
The Asia Pacific region accounts for roughly 90% of global aquaculture products, escalating demand for alternative fishmeal feed ingredients. China is the biggest producer of fishmeal, accounting for approximately 30.1% of global supply, as well as the largest importer. Fish meal is primarily used in the aquaculture industry, which is governed by the Asia Pacific region, which is expected to dominate the global fish meal substitute market.
The Asia-Pacific region is predicted to monopolize the Soy Fortified Products market, due to increasing demand for protein-rich foods, notably in emerging economies such as India and China, which is likely to propel the fish meal alternative market.
North America is expected to capture a significant value share, with Latin America coming in second due to its large agricultural and aquaculture industries. North America is followed by Latin America in terms of value share for the Soy Fortified Products market, with APAC driving the fish meal alternative market.
Furthermore, environmental groups, associations, and government agencies across North America have emphasized the importance of lessening the utilization of fishmeal as feed, notably for seafood aquaculture. Consequently, the popularity of aquaponics seafood will outpace fish meal production, and fish meal alternatives are likely to emerge as viable feed formulas in North America. North America accounts for a market share of 26% of the global fish meal alternative market.
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The Europe region is expected to take the lead in terms of market share due to its substantial meat and dairy industries, as well as a rapid increase in sustainable farming in the region to meet strict EU guidelines. Europe is experiencing a protein shortfall for animal feed, which will influence the plant-based protein market.
Europe is forecast to witness robust growth in the overall soybean meal market owing to an increase in product demand among purchasers because of reduced costs and high nutrient levels in countries such as the United Kingdom and Germany. As a result, these factors are predicted to spur market growth. Europe accounts for 30.1% of the global market for fish meal alternatives.
The organic market is anticipated to expand at a faster pace than the conventional segment due to its more sustainable production process. Because of its lower cost and ease of production, the conventional segment is likely to dominate the global fish meal alternative market in terms of volume share.
Because of its simplicity of production and lower price point in comparison to traditional fish meals, the plant segment is set to dominate the global fish meal alternative market. Furthermore, plant-based fish meal alternatives have been scientifically demonstrated to produce more than traditional fish meal alternatives, which is expected to prompt producers to shift toward them over the forecast period.
Aquaculture, poultry, livestock, and pet food and continues to treat are all sub-segments of the feed segment. Because of the large intensity of consumption from the aquaculture and poultry industries, the feed segment is anticipated to dominate the global fish alternative market over the forecast period.
Manufacturers are adopting various marketing strategies such as new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration to identify the interest of potential buyers and create a larger customer base. For instance,
Some of the leading fish meal alternative device manufacturers include Al Dahra ACX, Archer Daniels Midland, Angel Yeast Co. Ltd, Cargill Inc., Calysta, Inc., Lallemand Inc., Nutreco N.V, and Alltech.
These key fish meal alternative providers are adopting various strategies such as new product launches and approvals, partnerships, collaborations, acquisitions, mergers, etc. to increase their sales and gain a competitive edge in the global fish meal alternative market. For instance,
| Attribute | Details |
|---|---|
| Projected Market Size (2033) | USD 3,674.0 million |
| Estimated Growth Rate (2023 to 2033) | 7.1% |
| Forecast Period | 2023 to 2033 |
| Historic Data Available for | 2018 to 2022 |
| Market Analysis | USD million for Value |
| Report Coverage | Market forecast, company share analysis, competition intelligence, DROT analysis, market dynamics and challenges, and strategic growth initiatives |
| Key Segments Covered | Type, Source, Application, Region |
| Key regions covered | North America; Latin America; Western Europe; Eastern Europe; South Asia Pacific; Middle East & Africa GCC Countries; Rest of the World |
| Key companies profiled | Al Dahra ACX, Archer Daniels Midland, Angel Yeast Co. Ltd, Cargill Inc., Calysta, Inc., Lallemand Inc., Nutreco N.V and Alltech |
| Customization & pricing | Available upon request |
The global market size to reach USD 1,924.2 million by 2033.
Angel Yeast and Cargill are the top key players.
The growth potential of the global market is 7.1% through 2033
The adoption of alternative products are likely to limit market growth.
The organic segment is highly preferred in the global market.
| Estimated Size (2024E) | USD 7.8 billion |
|---|---|
| Projected Value (2034F) | USD 13.8 billion |
| Value-based CAGR (2024 to 2034) | 5.8% |
| Estimated Industry Size (2024E) | USD 305.1 million |
|---|---|
| Projected Industry Value (2034F) | USD 414.0 million |
| Value-based CAGR (2024 to 2034) | 3.9% |
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Fish Meal Alternative Market
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