Thailand Wholesale Price: Fish for Fish Meal: Protein 60% data was reported at 14.300 THB/kg in Jan 2016. This stayed constant from the previous number of 14.300 THB/kg for Dec 2015. Thailand Wholesale Price: Fish for Fish Meal: Protein 60% data is updated monthly, averaging 18.760 THB/kg from Jan 2001 (Median) to Jan 2016, with 167 observations. The data reached an all-time high of 31.850 THB/kg in Aug 2008 and a record low of 14.300 THB/kg in Jan 2016. Thailand Wholesale Price: Fish for Fish Meal: Protein 60% data remains active status in CEIC and is reported by Department of Internal Trade. The data is categorized under Global Database’s Thailand – Table TH.P002: Average Wholesale Price of Agricultural Products in Bangkok Metropolis.

Explore the Fishmeal & Fish Oil Global Market Report 2025 Market trends! Covers key players, growth rate 7.2% CAGR, market size $14.62 Billion, and forecasts to 2033. Get insights now!

Thailand Wholesale Price: Fish Meal Protein 60% Down: Class 1 data was reported at 32.590 THB/kg in Nov 2018. This records a decrease from the previous number of 34.860 THB/kg for Oct 2018. Thailand Wholesale Price: Fish Meal Protein 60% Down: Class 1 data is updated monthly, averaging 30.230 THB/kg from Apr 2002 (Median) to Nov 2018, with 198 observations. The data reached an all-time high of 43.130 THB/kg in Oct 2015 and a record low of 18.110 THB/kg in Feb 2004. Thailand Wholesale Price: Fish Meal Protein 60% Down: Class 1 data remains active status in CEIC and is reported by Department of Internal Trade. The data is categorized under Global Database’s Thailand – Table TH.P002: Average Wholesale Price of Agricultural Products in Bangkok Metropolis.

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Fishmeal Market Size 2024-2028

The fishmeal market size is forecast to increase by USD 1.74 billion at a CAGR of 4.5% between 2023 and 2028.

The market is driven by several key factors, including the rising consumption of meat and poultry in various regions, leading to an increased demand for fishmeal as a source of animal protein. Additionally, the global expansion of aquaculture production and consumption contributes significantly to market growth. Strict regulations regarding the use of marine resources in the production of fishmeal are also a notable trend, ensuring sustainable and ethical practices. Key species used in the production of fishmeal include marine fish such as mackerel, capelin, pilchard, herring, and anchoveta, as well as crustaceans like shrimp, crab, and krill. These ingredients are essential for the livestock industry, particularly for swine and other aquatic animals. The market is expected to experience steady growth due to these factors.

What will be the Size of the Market During the Forecast Period?

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The market holds significant importance in the global animal feed industry due to its nutritional benefits. This market caters to various sectors, including pig farms and poultry, by providing essential nutrients for optimal animal growth. Fishmeal is a traditional feed ingredient, rich in crude protein, which contributes to the development and maintenance of muscles in animals. Its amino acid composition is particularly advantageous, as it provides all the essential amino acids required for animal growth. Moreover, fishmeal is a valuable source of omega-3 fatty acids, specifically DHA, which contribute to improved health and productivity in livestock. In the realm of aquaculture, fishmeal plays a pivotal role as a protein source for fish feed. Its nutritional content, including DHA and EPA, is crucial for the growth and development of farmed fish.



Furthermore, fishmeal's inclusion in fish feed enhances the nutritional qualities of the final product, making it an attractive option for consumers. The fishmeal market also encompasses specialized variants, such as crustacean-derived bioactive compounds, which find applications in the pharmaceutical industry. These compounds offer unique health benefits, making fishmeal an essential component in the production of premium feed additives. Sustainable intensification is a growing trend in the animal feed industry, and fishmeal aligns with this approach. As concerns regarding the environmental impact of synthetic feed additives and chemical-based fertilizers increase, fishmeal offers a more sustainable alternative. Organic nitrogen, derived from fishmeal, is a natural and renewable source of nutrients for animal feed.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Application

  Animal feed
  Agriculture
  Pharmaceuticals


Geography

  North America

    Canada
    Mexico
    US


  APAC

    China
    India
    Japan


  Europe

    Germany
    UK
    France


  South America

    Brazil


  Middle East and Africa

By Application Insights

The animal feed segment is estimated to witness significant growth during the forecast period.

Fishmeal is an essential ingredient in the production of animal feed, particularly for aquaculture and livestock farming. Furthermore, the market has experienced significant growth in the animal feed segment due to the increasing demand for fishmeal as a cost-effective source of high-quality protein for farm animals. This protein-rich feed source is derived primarily from marine fish, such as mackerel, capelin, pilchard, herring, anchoveta, and crustaceans, including shrimp, crab, and krill. The high protein content of fishmeal, which ranges from 62% to 70% by weight, makes it an indispensable nutrient for the growth and development of various aquatic animals and livestock, including swine and poultry. In the animal feed industry, fishmeal is widely used to produce fish feed for species like trout and salmon.

This, in turn, contributes to the production of high-quality animal products, such as bacon, eggs, pork, and chicken. The use of fishmeal as a protein supplement in pig and poultry farms is expected to continue, driving the growth of the fishmeal market in the coming years.

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The animal feed segment was valued at USD 2.94 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 37% to the growth of the global market during the forecast period.

Technavio's analysts have elaboratel

3096 Global import shipment records of Fish Meal with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

Global Fish Meal Market Valued at USD 205 Billion in 2022, Expected CAGR of 6.5% from 2024-29. North America Dominates and Thrives in Fish Meal Market.

China Retail Price: Rural Market Fair: Feed: Fish Meal: Imported data was reported at 11.890 RMB/kg in Nov 2013. This records a decrease from the previous number of 11.950 RMB/kg for Oct 2013. China Retail Price: Rural Market Fair: Feed: Fish Meal: Imported data is updated monthly, averaging 11.100 RMB/kg from Jan 2009 (Median) to Nov 2013, with 35 observations. The data reached an all-time high of 12.080 RMB/kg in Jun 2013 and a record low of 8.090 RMB/kg in Jan 2009. China Retail Price: Rural Market Fair: Feed: Fish Meal: Imported data remains active status in CEIC and is reported by Ministry of Agriculture and Rural Affairs. The data is categorized under China Premium Database’s Price – Table CN.PA: Ministry of Agriculture and Rural Affairs: Retail Price: Agricultural Product.

The Fishmeal Market is projected to grow at 6.1% CAGR, reaching $11.93 Billion by 2029. Where is the industry heading next? Get the sample report now!

Fishmeal And Fish Oil Market size was valued at USD 11.39 Billion in 2024 and is projected to reach USD 20.29 Billion by 2031, growing at a CAGR of 7.48% during the forecast period 2024-2031.

Global Fishmeal And Fish Oil Market Drivers

The market drivers for the Fishmeal And Fish Oil Market can be influenced by various factors. These may include:

Growing Need for Aquaculture Feed: As the aquaculture sector grows as a result of rising seafood consumption and declining wild fish populations, there is an increasing need for fishmeal and fish oil, which are key components of aquafeed formulations. Fishmeal and fish oil are widely used in the preparation of aquaculture feed because they are abundant sources of protein, omega-3 fatty acids, and other nutrients that support the growth, health, and reproductive performance of farmed fish and shrimp species.

Growing Animal Protein Consumption: The need for fishmeal and fish oil as essential components in livestock and poultry feed formulations is driven by the growing worldwide demand for animal protein, especially in emerging nations with expanding populations and rising incomes. The high-quality protein, amino acids, and lipids included in fishmeal and fish oil improve the nutritional value and effectiveness of feed rations, promoting the productive and efficient growth and development of livestock and poultry species.

Growing Knowledge of Health Benefits: Consumer demand for seafood products enhanced with fish oil is driven by growing knowledge of the health benefits linked to omega-3 fatty acids, such as support for the immune system, cardiovascular health, and cognitive function. Supplements containing fish oil and functional foods enhanced with omega-3 fatty acids are becoming more and more well-liked among health-conscious customers looking for dietary sources of vital nutrients and bioactive substances that support general health and wellbeing.

Increasing Use in Pharmaceuticals and Nutraceuticals: The nutraceutical and pharmaceutical industries use omega-3 fatty acids extracted from fish oil extensively in the formulation of dietary supplements, health supplements, and therapeutic treatments that address a range of medical illnesses and health issues. The use of omega-3 fatty acids in the treatment and prevention of cardiovascular diseases, inflammatory disorders, and neurological disorders is driven by their therapeutic properties, which include anti-inflammatory, anti-oxidative, and neuroprotective effects. This creates opportunities for market expansion and diversification.

Technological Developments in Fishmeal and Fish Oil Processing: Ongoing improvements in extraction strategies, refining techniques, and quality control protocols improve product safety, purity, and quality while lowering production costs and environmental effects. Manufacturers may now meet strict regulatory standards for product purity and traceability, optimize yield, and extract valuable bioactive chemicals thanks to innovations including solvent extraction, enzymatic hydrolysis, and molecular distillation.

Sustainable Sourcing and Environmental Responsibility: The fishmeal and fish oil industries are adopting sustainable sourcing efforts and certification programs as a result of the increased focus on sustainable fisheries management, ethical aquaculture practices, and environmental protection. The long-term viability and environmental sustainability of fishery resources are supported by sustainable fishery management practices, which also support market growth and consumer confidence in sustainable seafood products. Examples of these practices include the implementation of harvest control measures, ecosystem-based management approaches, and certification schemes, such as the Marine Stewardship Council certification.

Market Dynamics and Price Volatility: A number of market dynamics, such as shifts in fisheries stocks, seasonal variations in fish harvests, and geopolitical issues impacting international trade and supply chains, have an impact on the Fishmeal And Fish Oil Market. In order to navigate market uncertainties and maintain competitiveness, industry stakeholders must employ proactive risk management strategies and market intelligence. Price volatility in the Fishmeal And Fish Oil Market is caused by changes in supply and demand dynamics, input costs, and market speculation.

The Global Fish Meal market is poised to reach a value of USD 46,623.5 million in 2025, and further expand at a CAGR of 4.4% to reach USD 71,714.9 million by the year 2035.

Attributes	Description
Estimated Global Industry Size (2025E)	USD 46,623.5 million
Projected Global Industry Value (2035F)	USD 71,714.9 million
Value-based CAGR (2025 to 2035)	4.4%

Semi Annual Market Update

Particular	Value CAGR
H1 2024	3.9% (2024 to 2034)
H2 2024	4.7% (2024 to 2034)
H1 2025	4.2% (2025 to 2035)
H2 2025	4.8% (2025 to 2035)

Country wise Insights

Countries	CAGR 2025 to 2035
Norway	3.8%
China	6.3%
Japan	2.5%

Category-wise Insights

Segment	Value Share (2025)
Wild-Caught Fish (Species)	40%

Segment	Value Share (2025)
Aquaculture (Application)	50%

Iceland Fish Products Price Index: Pelagic: Fishmeal data was reported at 423.099 4Q2005=100 in Jun 2018. This records a decrease from the previous number of 435.149 4Q2005=100 for May 2018. Iceland Fish Products Price Index: Pelagic: Fishmeal data is updated monthly, averaging 387.238 4Q2005=100 from Jan 2006 (Median) to Jun 2018, with 150 observations. The data reached an all-time high of 544.921 4Q2005=100 in Jan 2013 and a record low of 101.981 4Q2005=100 in Jan 2006. Iceland Fish Products Price Index: Pelagic: Fishmeal data remains active status in CEIC and is reported by Statistics Iceland . The data is categorized under Global Database’s Iceland – Table IS.I014: Fish Products Price Index.

Thailand Wholesale Price: Fish Meal: Protein 60 % Up: Class 3 data was reported at 26.000 THB/kg in Jul 2018. This stayed constant from the previous number of 26.000 THB/kg for Jun 2018. Thailand Wholesale Price: Fish Meal: Protein 60 % Up: Class 3 data is updated monthly, averaging 27.000 THB/kg from Nov 2002 (Median) to Jul 2018, with 187 observations. The data reached an all-time high of 35.360 THB/kg in Apr 2010 and a record low of 16.970 THB/kg in Dec 2002. Thailand Wholesale Price: Fish Meal: Protein 60 % Up: Class 3 data remains active status in CEIC and is reported by Department of Internal Trade. The data is categorized under Global Database’s Thailand – Table TH.P002: Average Wholesale Price of Agricultural Products in Bangkok Metropolis.

The global fishmeal market, valued at $7.07 billion in 2025, is projected to experience steady growth, exhibiting a Compound Annual Growth Rate (CAGR) of 4.5% from 2025 to 2033. This growth is driven by several key factors. The increasing demand for animal feed, particularly in aquaculture, is a major contributor. The rising global population and increasing per capita consumption of protein-rich foods are fueling the need for efficient and sustainable protein sources, making fishmeal a crucial ingredient. Furthermore, the expanding pharmaceutical and agricultural sectors also contribute to market growth, utilizing fishmeal for specific applications. While the market faces certain restraints such as fluctuating fish stocks and concerns regarding sustainability, technological advancements in fishing and processing methods are mitigating these challenges. Geographic expansion, especially in rapidly developing economies of Asia-Pacific and South America, is expected to further bolster market growth during the forecast period. Competition among leading companies is intense, with players focusing on strategic partnerships, mergers and acquisitions, and innovations to improve efficiency and product quality. This competitive landscape drives continuous market evolution and presents opportunities for new entrants offering innovative solutions. The regional distribution of the market demonstrates variations in growth patterns. North America and Europe currently hold significant market shares, driven by established aquaculture industries and a higher per capita income. However, the APAC region is poised for substantial growth due to rising aquaculture production and growing demand for animal feed. South America and the Middle East and Africa also present significant, albeit less mature, market opportunities. The market segmentation by application (animal feed, agriculture, pharmaceuticals) reveals animal feed as the dominant segment, with significant growth potential anticipated in the coming years. The ongoing research and development efforts to enhance the nutritional value of fishmeal and develop sustainable sourcing practices contribute to the long-term outlook of this dynamic market.

In 2023, the amount of flours, meals and pellets of fish exported from Thailand rose to 494 tons, picking up by 4.9% compared with 2022 figures.

Monthly landings, raw material, fish meal, and fish oil in regional markets of South Africa, United States of America, Peru, and Chile; monthly market prices of fish meal and fish oil in Peru, Chile, Hamburg, Bremen, and China

Plant Based Fish Feed Market size was valued at USD 11.98 Billion in 2024 and is projected to reach USD 17.9 Billion by 2031, growing at a CAGR of 5.00% from 2024 to 2031.

Plant Based Fish Feed Market Drivers

Sustainability Concerns and Resource Depletion:

Overfishing and Depleting Marine Resources: Overfishing is a major threat to the sustainability of our oceans. Plant-based fish feed offers a viable solution by reducing reliance on fishmeal and fish oil derived from wild-caught fish.

Environmental Impact of Aquaculture: Traditional fish feed production can contribute to environmental issues like pollution and habitat destruction. Plant-based alternatives offer a lower environmental footprint.

Rising Demand for Seafood and Aquaculture Growth:

Protein Source and Growing Population: The global population is growing, and the demand for protein sources like fish is expected to rise. Aquaculture, the practice of farming fish, is a key contributor to meeting this demand.

Limitations of Traditional Fish Farming: The expansion of traditional fish farming can be limited by factors like availability of space and resources. Plant-based fish feed can help support the growth of sustainable aquaculture practices.

Economic Considerations and Performance:

Price Volatility of Fishmeal and Fish Oil: The prices of fishmeal and fish oil can be volatile, impacting the profitability of fish farms. Plant-based alternatives can offer more price stability.

Potential Cost Reduction: Advancements in plant-based fish feed technology have the potential to make it a more cost-competitive option compared to traditional fish feed in the future.

Improved Fish Health and Performance: Studies suggest that certain plant-based feed formulations can lead to improved fish health and performance in some species.

Regulatory Landscape and Consumer Preferences:

Focus on Sustainable Practices: Regulatory bodies and consumers are increasingly demanding sustainable practices in the seafood industry. Plant-based fish feed aligns with this growing focus on sustainability.

Consumer Awareness and Ethical Concerns: Consumers are becoming more aware of the environmental impact of seafood production and may opt for products raised using sustainable practices, potentially driving demand for fish raised on plant-based feed.

The global fish meal alternative market size reached a valuation of US$ 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 US$ 3,674.0 million by the end of 2033.

Attribute	Details
Fish Meal Alternative Market Size (2023)	US$ 1,924.2 million
Fish Meal Alternative Market Revenue Forecast (2033)	US$ 3,674.0 million
Fish Meal Alternative Market Growth Rate (2023 to 2033)	7.1% CAGR
North America Market Share	30.1%

Report of Scope

Attribute	Details
Projected Market Size (2033)	US$ 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	US$ 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 United States Canada Rest of North America Latin America Brazil Argentina Mexico Rest of Latin America Western Europe Germany United Kingdom France Rest of Western Europe Eastern Europe Russia Spain Rest of Eastern Europe South Asia Pacific China India Japan Malaysia Thailand Indonesia South Korea Rest of South Asia & Pacific Middle East & Africa GCC Countries Turkey Israel Rest of MEA Rest of the World Oceania Africa South America
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

Peru GDP: GVA: Mfg: Food Industry: Fishmeal & Fish Oil data was reported at 2,050,846.000 PEN th in 2012. This records a decrease from the previous number of 3,819,310.000 PEN th for 2011. Peru GDP: GVA: Mfg: Food Industry: Fishmeal & Fish Oil data is updated yearly, averaging 1,580,289.000 PEN th from Dec 1991 (Median) to 2012, with 22 observations. The data reached an all-time high of 3,819,310.000 PEN th in 2011 and a record low of 148,608.000 PEN th in 1991. Peru GDP: GVA: Mfg: Food Industry: Fishmeal & Fish Oil data remains active status in CEIC and is reported by National Institute of Statistics and Information Science. The data is categorized under Global Database’s Peru – Table PE.A022: SNA 1993: GDP: by Industry: Current Price: Annual.

Statistics illustrates monthly prices of fish meal; fit for human consumption in Israel from January 2019 to February 2025.

11 Global export shipment records of Fish Meal with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.