Straits Research published report, “Fishmeal Market Size & Outlook, 2026-2034”. According to the study, the market size valued at USD 10.64 billion in 2025 and is projected to expand to USD 19.70 billion by 2034, registering a compound annual growth rate (CAGR) of 7.16%.

Market Dynamics

The global fishmeal market is primarily driven by the rapid expansion of aquaculture, as farmed fish require high-protein diets rich in essential nutrients like omega-3 fatty acids. Fishmeal remains the preferred feed ingredient due to its superior digestibility and nutritional profile. Rising global seafood consumption and premiumization of aquaculture species further fuel demand. Additionally, advancements in processing technologies have increased yield from by-products, improving supply efficiency and reducing waste, while sustainability certifications and traceability initiatives are shaping procurement practices.

However, the market faces restraints from overfishing, fluctuating raw material availability, and price volatility. Growing adoption of alternative proteins, such as insect meal and single-cell proteins, poses competition. Opportunities lie in residue-based fishmeal, hybrid feed formulations, and sustainably certified products, offering avenues for growth and environmental responsibility.

Market Highlights

• Source Outlook: Marine Fish hold the largest share of 71%, due to abundant availability, high protein yield, and extensive use in aquaculture feed production.
• Livestock Outlook: Swine is expected to witness the highest CAGR (~7.56%) during the forecast period, owing to the rising pork consumption and increasing use of fishmeal for enhancing feed efficiency.
• Application Outlook: The animal feed segment leads with over 83% market share, as fishmeal is widely utilized in aquaculture, poultry, and livestock feeds.
• Regional Insights: Asia Pacific dominates with over 41.15% share, driven by large aquaculture production, high seafood consumption, abundant raw materials, and supportive infrastructure.