Key Insights

The global fishmeal and fish oil market, valued at $8.28 billion in 2025, is projected to experience robust growth, driven by a compound annual growth rate (CAGR) of 11.93% from 2025 to 2033. This expansion is fueled by several key factors. The increasing demand for animal feed, particularly in the aquaculture and poultry sectors, constitutes a major driver. Growing consumer awareness of the nutritional benefits of omega-3 fatty acids found in fish oil is also boosting demand in the pet food and human supplement markets. Furthermore, the market is witnessing a shift towards sustainable sourcing practices and technological advancements in fish processing, leading to higher-quality products and improved efficiency. Regional variations exist, with North America and Europe currently holding significant market shares, however, the Asia-Pacific region is poised for substantial growth due to its expanding aquaculture industry and rising disposable incomes. While challenges such as fluctuating fish stocks and stringent regulations on fishing practices exist, the overall market outlook remains positive, propelled by the aforementioned growth drivers and ongoing innovation within the industry.

The segmentation of the fishmeal and fish oil market reveals important trends. Salmon and trout species contribute significantly to fishmeal production, while the demand for fish oil is widespread across various applications. The poultry and swine industries represent the largest consumers of fishmeal, while the pet food sector fuels a substantial portion of fish oil demand. Competitive landscape analysis highlights key players like Pelagia, Pesquera Exalmar, and Austral Group, but the market also features numerous smaller companies and regional producers. Future growth will likely be influenced by the development of alternative protein sources, the efficacy of sustainable fishing initiatives, and the evolving regulatory environment governing fishmeal and fish oil production and trade. Strategic partnerships and mergers and acquisitions are anticipated to shape the market structure in the coming years.

Fishmeal and Fish Oil Market Report: 2019-2033

This comprehensive report provides a detailed analysis of the global fishmeal and fish oil market, offering invaluable insights for industry professionals, investors, and stakeholders. Covering the period 2019-2033, with a focus on 2025, this report delivers a thorough understanding of market dynamics, key players, and future growth prospects. The study period spans 2019-2024 (historical period), with 2025 as the base and estimated year. The forecast period extends from 2025-2033. The market is segmented by species type (Salmon & trout, Crustaceans, Marine fish, Carps, Tilapias, Others) and application (Poultry, Swine, Pets, Aquatic animals, Others). Key companies analyzed include Pelagia, Pesquera Exalmar S.A.A, Austral Group S.A.A, Triplenine Group A/S, Pesquera Diamante SA, Omega Protein Corporation, The Scoular Company, Copeinca, Oceana Group Limited, and FF Skagen.

Fishmeal And Fishoil Market Market Structure & Innovation Trends

The fishmeal and fish oil market exhibits a moderately concentrated structure, with a few large players holding significant market share. The market share distribution amongst the top 5 players is estimated to be approximately 40% in 2025. Innovation is primarily driven by the need for sustainable sourcing, improved product quality, and diversification into high-value applications. Regulatory frameworks, particularly those concerning sustainable fishing practices, play a crucial role in shaping market dynamics. Key product substitutes include plant-based protein sources and synthetic oils, which are gradually gaining traction. The end-user demographics show a significant proportion of demand from the aquaculture and animal feed industries. The past five years have witnessed moderate M&A activity, with deal values ranging from USD xx Million to USD xx Million. Specific examples include:

• March 2022: Pelagia's acquisition of Norsk Fiskeindustri Invest AS (NFI), strengthening its position in the fishmeal and fish oil production.
• January 2023: IDB's USD 40 Million investment in Pesquera Exalmar to support sustainable fishing practices.

Fishmeal And Fishoil Market Market Dynamics & Trends

The fishmeal and fish oil market is projected to experience a Compound Annual Growth Rate (CAGR) of xx% during the forecast period (2025-2033). This growth is propelled by the increasing demand for animal protein globally, particularly in developing economies, coupled with the growing aquaculture sector. Technological advancements in processing and extraction methods contribute to enhanced product quality and efficiency. Consumer preferences are increasingly shifting towards sustainably sourced products, prompting companies to adopt eco-friendly practices. Competitive dynamics are characterized by both price competition and differentiation strategies based on quality, sustainability, and traceability. Market penetration is highest in regions with established aquaculture industries and strong animal feed markets. Factors influencing growth include rising disposable incomes, increasing consumption of animal protein, and the growing awareness of the nutritional benefits of fish oil.

Dominant Regions & Segments in Fishmeal And Fishoil Market

The dominant region in the fishmeal and fish oil market is currently Asia-Pacific, driven by significant aquaculture activity and the large animal feed industry. Within this region, China and Southeast Asian countries are key growth areas.

• Species Type: Marine fish currently dominate the market, followed by salmon & trout.
• Application: The aquaculture sector is the largest consumer of fishmeal and fish oil, followed by the poultry and swine industries.

Key Drivers by Region:

• Asia-Pacific: Rapid economic growth, expanding aquaculture industry, high demand for animal protein.
• Europe: Stringent regulations promoting sustainable fishing, focus on high-quality products.
• North America: Stable demand from aquaculture and animal feed industries, increasing focus on sustainable sourcing.

Fishmeal And Fishoil Market Product Innovations

Recent innovations focus on improving the sustainability and efficiency of production processes. This includes advancements in fish oil extraction technology, leading to higher yields and reduced environmental impact. The development of fishmeal and fish oil alternatives, although still limited in market share, is gaining momentum as a sustainable alternative for animal feed. Companies are also developing specialized products tailored to specific animal feed applications, focusing on improved nutrient profiles and bioavailability.

Report Scope & Segmentation Analysis

This report segments the fishmeal and fish oil market by species type (Salmon & trout, Crustaceans, Marine fish, Carps, Tilapias, Others) and application (Poultry, Swine, Pets, Aquatic animals, Others). Each segment is analyzed in terms of market size, growth projections, and competitive dynamics. Growth projections vary significantly across segments, with the aquaculture application and marine fish species exhibiting the strongest growth potential.

Key Drivers of Fishmeal And Fishoil Market Growth

Key drivers include the escalating global demand for animal protein, driven by population growth and rising living standards. Technological advancements in fish processing improve efficiency and sustainability. Furthermore, the growth of the aquaculture industry significantly boosts fishmeal and fish oil consumption. Favorable government policies supporting sustainable fishing practices further fuel market expansion.

Challenges in the Fishmeal And Fishoil Market Sector

The market faces challenges such as fluctuating raw material prices, dependence on wild-caught fish stocks, and concerns regarding sustainability. Stricter environmental regulations and increased scrutiny of fishing practices add to the operational complexities. Competition from alternative protein sources also exerts downward pressure on prices. The estimated negative impact on market growth due to these challenges is approximately xx% by 2033.

Emerging Opportunities in Fishmeal And Fishoil Market

Opportunities lie in developing sustainable sourcing strategies and exploring alternative raw materials. Innovations in processing technologies and the development of value-added products can enhance profit margins. Expanding into new markets in developing economies and focusing on high-value applications present significant growth potential.

Leading Players in the Fishmeal And Fishoil Market Market

• Pelagia
• Pesquera Exalmar S A A
• Austral Group S A A
• Triplenine Group A/S
• Pesquera Diamante SA
• Omega Protein Corporation
• The Scoular Company
• Copeinca
• Oceana Group Limited
• FF Skagen

Key Developments in Fishmeal And Fishoil Market Industry

• March 2022: Scoular opened a new fishmeal facility in Myanmar, expanding its reach in Asian feed markets.
• March 2022: Pelagia acquired 100% of Norsk Fiskeindustri Invest AS (NFI), a significant player in fishmeal and fish oil production.
• January 2023: IDB invested USD 40 Million in Pesquera Exalmar, supporting sustainable fishing practices.

Future Outlook for Fishmeal And Fishoil Market Market

The fishmeal and fish oil market is poised for continued growth, driven by increasing demand for animal protein, technological innovations, and the expanding aquaculture industry. Strategic partnerships, investments in sustainable practices, and product diversification are expected to play a crucial role in shaping the future market landscape. The market is projected to reach USD xx Million by 2033.

Fishmeal And Fishoil Market Segmentation

• 1. Species Type
  • 1.1. Salmon & trout
  • 1.2. Crustaceans
  • 1.3. Marine fish
  • 1.4. Carps
  • 1.5. Tilapias
  • 1.6. Others
• 2. Application
  • 2.1. Poultry
  • 2.2. Swine
  • 2.3. Pets
  • 2.4. Aquatic animals
  • 2.5. Others

Fishmeal And Fishoil Market Segmentation By Geography

• 1. North America
  • 1.1. United States
  • 1.2. Canada
  • 1.3. Mexico
  • 1.4. Rest of North America
• 2. Europe
  • 2.1. Germany
  • 2.2. United Kingdom
  • 2.3. France
  • 2.4. Russia
  • 2.5. Spain
  • 2.6. Norway
  • 2.7. Rest of Europe
• 3. Asia Pacific
  • 3.1. China
  • 3.2. Japan
  • 3.3. India
  • 3.4. South Korea
  • 3.5. Rest of Asia Pacific
• 4. South America
  • 4.1. Brazil
  • 4.2. Argentina
  • 4.3. Rest of South America
• 5. Middle East and Africa
  • 5.1. United Arab Emirates
  • 5.2. Saudi Arabia
  • 5.3. South Africa
  • 5.4. Egypt
  • 5.5. Rest of Middle East and Africa