The global sphere recorded a sales of USD 8,412.3 million in 2024. The industry experienced a 4.8% year-on-year growth in 2024 and is anticipated to achieve revenue of USD 13,444 million in 2034.
Global industry of aquaculture has developed immensely in the recent past due to the growing demand and consumer appreciation of fish and fish related products in the world. This growth in the aquaculture production has on the same note boosted the salmon feed industry, mainly because salmon is among the most reared fish species in aquaculture.
The salmon feed business landscape has several manufacturing players who are seeking to capture a larger consumer sphere share due to the growing demand for the products. Several have opted to increase its production capabilities, essentially, to meet growing sale volumes of farming enterprises. This expansion has been most strongly observed in the Asia-Pacific and North America since these are global aquaculture hubs for the sphere.
The feed industry has been stimulated by increasing demand for aquaculture products such as salmon. Consumers are waking up to the nutritional values of seafood especially the discovery of omega 3 fatty acids in fish. This awareness is such that there has been a shift to consuming more aquaculture produced foods, and this has increased the demand for target products.
In addition, development on the fish farming methodologies practiced by the aquaculture industry has been progressing in terms of sustainability and productivity. Companies that produce feed for fish have been able to address this tendency by creating new types of feed that would provide necessary amount of nutrients and would cause less harm to the environment in which they are to be produced.
This has also contributed to strengthen the sphere growth as the consumer and regulatory authorities are beginning to pay attention to sustainable and environmentally friendly practice in aquaculture.
| Attributes | Description |
|---|---|
| Estimated Global Industry Size (2024E) | USD 8,412.3 million |
| Projected Global Industry Value (2034F) | USD 13,444 million |
| Value-based CAGR (2024 to 2034) | 4.8% |
Lastly, the global business landscape is in its grow initiating stage, with increased demand for aquaculture, concerns for nutritional value of fish and manufacturers extending their production capabilities and researching proper formulations of feed. The target product sales is expected to expand as the raise of the aquaculture industry because this product is central to the production of salmon.
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Strong Distribution Network of Key Manufacturers Maintaining Global Supply Chain
The target sphere worldwide comprises large manufacturers who have strong supply channels. These companies have planned its production plants and distribution networks in such a way that there is no disruption in the flow of supply chain regardless of any change or situation in regional marketplace.
Through this arrangement, these manufacturers guarantee they have a wide array of suppliers, warehouses, and transportation channel that assist them in effectively satisfying the demands of fish farmers globally by timely supplying the feed products and in the right quantities. Such high level of supply chain resilience is required more so in enhancing the growth and diversification of the global aquaculture business.
Infusion of Quality Ingredients Improving Product Formulations
Going to the kitchen Sink Many aquaculture feed manufacturers are interested in improving the quality of feed by making use of better quality inputs in the production process. These are the use of better quality of marine derived Password including fish meal and fish oil besides passwords derived from plant base raw materials like soy bean, corn and wheat.
Further on, vitamins, minerals and other functional additives in the feed have the purpose to enhance the beneficial and nutritional components, digestibility and quality. Through constant enhancement of formulations, manufacturers are in a position to provide farmed fish with everything they require for them to grow and develop well as well as perform well hence producing quality nutritious seafood.
Diversified Product Portfolio According to Specific Needs Attracting the fish farmers
Aquaculture feed producers are increasingly appreciating the heterogeneities within the producers, hence the production of a variety of specialty feed. This range targets different stages of life cycle, production, and environmental conditions and gives farmers feeds that meet their needs.
Starting from feeds for starter fish or newly-hatched, through grower and finisher feeds for bigger fishes, or feeds for organic or land- based fish farming, such product specialization enables fish producers to operate fully and supply the specific needs in the market. With feed solutions it can therefore be seen that manufacturers are able to secure the loyalty of the customers in the global aquaculture farming industry.
Advancements in Feed Formulation and Nutritional Optimization
The salmon feed industry is increasingly directing their resources to research and development in order to advance feed formulation and nutrition. Using advanced technologies that incorporate big data, and scientific knowledge in the production process, manufacturers have been able to achieve highly specific feed solutions for the farmed salmon’s changing nutritional needs.
This entails advising the optimum amount of protein, lipids and carbohydrates to incorporate into the diets as well as the appropriate incorporation of vital vitamins, minerals and other special interest functional components into diets. By ensuring that feed formulation science is constantly advanced and implemented in the production process, manufacturers will be interventionist in the positive growth, health standard, and general quality of the fish hence rising to the sustainability and profitability of the aquaculture industry globally.
Embracing Circularity: The Future Feeds Specific to Sustainable Salmon Production
The circulatory economy is growing important in the global aquaculture feed industry as these industries are striving to reduce wastes and use resources as efficiently as possible. Insect meal and other SCPs, and upcycled seafood waste streams are other important trends mentioned in the article. This change towards more sustainable and more circular feed formulations is beneficial not only for the environment of the salmonid feed industry but also for the nutritional quality of the feed.
The key manufacturers have therefore closed the loop hence securing themselves in the future market an environmentally sustainable aquaculture industry. This trend is clear evidence of how the industry is future-proofing itself in marketing sustainable salmon to an ever-growing population without compromising the surrounding oceanic environments on which such fish depend.
Demand for Good Quality Seafood Influencing Product Innovation
Increased demand by customers for high-quality, healthy, and quality seafood products is now the major source of new developments in the sector. The traditional goal of getting the highest growth rate and feed conversion is no longer sufficient for fish producers because they are looking for competitive feed solutions that improves quality, taste and health promoting factors in the final product.
This has resulted in high specification feed formulations that use high quality inputs like marine derived proteins for expanding Omega 3 and marine derived oils for general enhancement of fatty acid in farmed salmon. Also, probiotics and prebiotics, as well as other functional additives, are introduced into the formulation to help the fish build up a robust immune system to enhance the quality of the seafood as a product to cater for the increasing clientele taste.
Global sales increased at a CAGR of 4.4% from 2019 to 2023. For the next ten years (2024 to 2034), projections are that the value will rise at 4.8% CAGR.
During the forecast period of 2024 to 2034, the market is expected to increase in terms of revenue by USD 5,031.7 million. In the declining period of the COVID-19 pandemic, the sales of target products with added vitamins and minerals have increased rapidly, which has enabled manufacturers to expand their portfolio besides increasing production volume. Factors affected the industry between 2019 and 2023.
Growth was propelled by higher awareness about salmon health in general and demand for fortified feed. They broadened applications for additives through technological developments in feed processing that made them more stable and effective.
This was also complemented by regulatory support towards the fortification of nutrients in developing areas. Again, the pandemic enhanced consumer focus on a high-protein diet thereby accelerating demand for seafood products. These trends together fostered further growth within the industry along with innovation regarding custom nutrition solutions.
Principal Consultant
Tier 1 refers to the business leaders who have extensive research and development capabilities required to deliver substantial product portfolios and have significant market share. Such companies are responsible for leading innovations in formulation processes, delivery systems, and sustainability aspects.
Examples include Cargill, Skretting, Biomar, Ridley Corporation, Yadong Group, Tongwei Group, and few others. They have a worldwide presence through well-developed distribution channels added with enough resources required for investment in modern technologies. Hence, they enjoy competitive advantages over others because they offer many alternatives depending on the consumer’s need.
Tier 2 covers regional players and specialists who either deal with a given segment of the sector or concentrate on specific categories. These firms are less popular compared to MNCs, but they are excellent in niche categories or regions.
Examples include Nutreco, Mowi, Aller Aqua, Ewos, Grobest Group, Guangdong Haid Group and few others. Quite often, these organizations have much emphasis on quality aspects and innovations within their respective specializations such as advanced infusion systems. This is why they quickly adapt to changing business ecosystems or emerging trends, thus maintaining business competitiveness confined to their niches.
Tier 3 features local and emerging enterprises that are newcomers or else operate within a limited scale inside the sector. They usually concentrate on serving small regional industries by providing them with cost-effective solutions, which are customized according to the peculiar needs of those.
Although they do not possess vast resources like larger counterparts do, these companies always give personalized attention and flexibility too. Often, they work together with local salmon feed manufacturers in addressing specific nutritional challenges, thereby contributing to the overall variety as well as dynamism that exists within the industry.
The following table shows the estimated growth rates of the top three countries. Norway, Canada and India are set to exhibit high consumption, and CAGRs of 3.8%, 4.1% and 4.8%, respectively, through 2034.
| Countries | CAGR 2024 to 2034 |
|---|---|
| Norway | 3.8% |
| Canada | 4.1% |
| China | 4.8% |
With Norway being one of the world’s largest producers of salmons through production through fish farming, the country leads in trends in the market of aquaculture feed. There is one trend, which can be distinguished and this is the application of circular economy where waste streams are becoming valuable feed ingredients.
New proteins in feed for the Norwegian salmon include insect meal and single cell proteins which can be processed from food processing residues and other organic wastes. This not only has the effect of limiting the amount of Bad for Environment output from the industry but also improving the nutritional quality of aquaculture feeds towards creating healthier food products and sustainable population of seafood.
Norwegian producers are also applying new analytical tools and precision feeding methods for feed recipes and feeding patterns that help maximise resource utilisation and reduce biophysical impacts on the sea.
There is a marked tendency towards diversification of the Canadian salmon feed market, the response to which is determined by the changing appetite of domestic and foreign consumers. The manufacturers in Canada are refining new sorts of feed that could meet the international demand for organic, antibiotic-free and eco-friendly salmon.
This includes development of incorporation of feeds with additional plant protein sources, Omega-3 fatty acids and other functional feeds that augment the value of the final seafood product. Secondly, there is now an emphasis in Canadian production to turn to alternative proteins in the forms of algae and microbial biomass so as to avoid depletion of marine resources and following the concepts of responsible aquaculture.
These changes in the salmon feed sector make it necessary for the Canadian producers to offer variety in their feeds to satisfy the market’s most selective salmon consumers.
As the largest producer and consumer of farmed salmon, China is shifting focus towards localization of salmon feeds manufacturing and formulation. The feed manufacturers in China are adapting their products to fit the specific climate, farming systems and customer demand noticed in China’s aquaculture industry.
This includes the provision of feed solutions of breed-specific Chinese-bred salmon growth profile and nutrient needs. Besides, some of the Chinese producers are focusing on the trial of incorporating traditional Chinese medicinal herbs and other regional materials as ingredients into the feed formulation to increase general health and growth rate of farmed salmon.
By focusing on local markets, Chinese salmon feed producers can provide for the need of sustainable aquaculture industry in China as well as meet the specific requirements of Chinese salmon producers.
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| Segment | grower feed (Feed Type) |
|---|---|
| Value Share (2024) | 42.2% |
Analysing the salmon feed market, it is possible to identify growth patterns that influence its tendencies: the grower feed has become the most popular type of feed preferred by the companies. This is possible due to the feed’s capacity to address the changing demand of the nutrients needed by the salmon at distinct phases of growth.
Grower feed contains specified levels of proteins, fats and carbohydrates so as to enable the grower fish to grow to their required sizes. Also, being relatively cheaper and convenient to formulate and admin- ester compared to finisher feed, grower feed has gained the approval of salmon farmers who aim at achieving maximum production and profitability on their yields.
As the desire to purchase premium quality salmon fish increases hence, grower feed will continue being popular foreseen to dominate the industry as the most-used feed type.
| Segment | Fish Oil (Ingredient Type) |
|---|---|
| Value Share (2024) | 38.4% |
In Salmon feed business landscape, there has been a steady progression of the common use of fish oil as the leading constituent. This has can be attributed to several reasons namely; availability of fish oil that has highly nutritional value for the general body health and growth of the fish. Fish oil contains polyunsaturated fatty acids of the omega-3 series, including EPA and DHA that are vital for the normal growth and development of the fish.
These fatty acids help in the overall health and immune system, and at the smes time aid in regards to the flavor as well as nutritional values of the finished product. Additionally, due to the increased supply and relatively low cost of fish oil it has become the favourite feed manufacturers and effectively making it the most utilized ingredient in the feed production. As the requirements for quality, nutritious increase, the tendency to use fish oil will remain a significant pattern in the market.
Global market is a very delicate industry where the companies take chances to grab a larger share through different strategies. It is because the leading players of the industry are targeting the concept of differentiation to achieve a competitive advantage through product innovation and diversification.
This tendency can be illustrated by the recent appearances of the feed formulations which are intended for the salmon’s specific nutritional requirements during various stages of growth. For example, one large producer has recently developed a new grower feed that uses superior proteins, Omega fats and focused additives to create the ideal environment for the growth and development of farmed fish.
Further, the manufacturers are focusing on the R&D strategies to originate new feed solutions that can be a lot efficient and more ecological to sustain the ecological aquaculture production that has increased consumer concern among consumers. These strategic moves are expected to define the future trend of the aqua feed sphere amidst stiff competition in the future.
By type industry has been categorised into Atlantic salmon and pacific salmon.
By feed type global business landscape categorised into Starter feed, grower feed, medicated feed and others.
Key Ingredient types which are Fish Oil, fish meal and Corn and others
Industry analysis has been carried out in key countries of North America, Latin America, Europe, Middle East and Africa, East Asia, South Asia, and Oceania
The value of the industry is estimated to reach 8,412.3 million USD by the end of year 2024.
By 2034, the sales value is expected to be worth USD 13,444 million.
The sales increased at a CAGR of around 4.4% over the past half-decade.
Europe is expected to dominate the global consumption.
Some of the key players in manufacturing include Cargill, Skretting, Biomar, Nutreco, Mowi, Aller Aqua, Ewos, Ridley Corporation, Yadong Group, Tongwei Group, Grobest Group, Guangdong Haid Group, Shandong Longda, Shandong Homey Aquatic, Shandong Fengmaole and few others.
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Salmon Feed Market
