Graph and download economic data for Global price of Fish Meal (PFISHUSDM) from Jan 1990 to Jun 2025 about seafood, World, and price.

Fish meal prices in , June, 2025 For that commodity indicator, we provide data from January 1979 to June 2025. The average value during that period was 879.9 USD per metric ton with a minimum of 254 USD per metric ton in July 1985 and a maximum of 1926.47 USD per metric ton in January 2013. | TheGlobalEconomy.com

Graph and download economic data for Global price of Fish Meal (PFISHUSDQ) from Q1 1990 to Q2 2025 about seafood, World, and price.

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.

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.

Statistics illustrates prices of fish meal; fit for human consumption in Indonesia from 2007 to 2024.

2780 Global export shipment records of Fish Meal with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

Thailand Wholesale Price: Fish Meal: Protein 60 % Down: Class 2 data was reported at 30.000 THB/kg in Jul 2018. This stayed constant from the previous number of 30.000 THB/kg for Jun 2018. Thailand Wholesale Price: Fish Meal: Protein 60 % Down: Class 2 data is updated monthly, averaging 28.500 THB/kg from Apr 2002 (Median) to Jul 2018, with 194 observations. The data reached an all-time high of 41.130 THB/kg in Oct 2015 and a record low of 16.570 THB/kg in Nov 2002. Thailand Wholesale Price: Fish Meal: Protein 60 % Down: Class 2 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 defatted fish meal market is experiencing robust growth, driven by the increasing demand for sustainable and high-protein animal feed. The market size in 2025 is estimated at $2.5 billion, exhibiting a Compound Annual Growth Rate (CAGR) of 5% from 2025 to 2033. This growth is fueled by several key factors. The aquaculture industry's expansion, particularly in Asia and Latin America, is a major driver, as defatted fish meal serves as a crucial protein source in fish feed formulations. Similarly, the growing poultry and livestock sectors, seeking high-quality and cost-effective feed solutions, are contributing to market expansion. The rising global population and increasing meat consumption are further bolstering the demand for animal feed, indirectly benefiting the defatted fish meal market. Furthermore, the ongoing research and development efforts focused on improving the nutritional profile and processing techniques of defatted fish meal are expected to enhance its appeal and market penetration. However, certain restraints could potentially hinder the market's trajectory. Fluctuations in raw material prices (fish supplies) and environmental concerns related to overfishing represent significant challenges. Stringent regulations concerning sustainable fishing practices and the increasing popularity of alternative protein sources (e.g., plant-based alternatives) could also impact market growth. Nevertheless, the continuous innovation in fish meal production methods, focusing on sustainability and cost-effectiveness, and the strategic partnerships between fish meal producers and animal feed manufacturers are expected to mitigate these challenges and ensure sustained market growth in the coming years. The market segmentation by type (Flame Dried, Steam Dried, Defatted) and application (Aquaculture, Poultry, Pig, Ruminant, Pet Food) provides opportunities for targeted market penetration and further growth. Defatted Fish Meal Market Report: A Comprehensive Analysis of Global Trends and Growth This in-depth report provides a comprehensive analysis of the global defatted fish meal market, encompassing production, consumption, trade, pricing, and key industry players. Valued at over $2.5 billion annually, this market exhibits substantial growth potential driven by increasing demand from the aquaculture and animal feed sectors. The report leverages extensive market research and detailed financial modeling to deliver actionable insights for businesses operating within or seeking entry into this dynamic industry. This detailed report utilizes data and projections from reputable industry sources to analyze both current trends and potential future developments for producers, suppliers, and consumers.

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

Fish meals and pellet exports from Thailand stood at 494 tons in 2023, surging by 4.9% on the previous year.

Fish Meal for Feed Market Outlook

The fish meal for feed market size was valued at approximately USD 9.5 billion in 2023 and is expected to reach about USD 13.6 billion by 2032, growing at a compound annual growth rate (CAGR) of 4.1% during the forecast period. This growth is driven by the increasing demand for protein-rich animal feed, which enhances growth rates and feed efficiency in livestock. The market's expansion reflects the rising need for high-quality feed ingredients, especially in the aquaculture industry, which has been burgeoning due to the growing global appetite for seafood. Additionally, advancements in feed formulations and sustainable sourcing practices further contribute to the promising growth trajectory of the fish meal market.

A significant growth factor for the fish meal market is the booming aquaculture sector. Aquaculture is one of the fastest-growing food production industries, driven by an increasing global population, rising seafood consumption, and the depletion of wild fish stocks. Fish meal is a crucial component of aquaculture feed due to its high protein content and essential omega-3 fatty acids that promote healthy fish growth and reproduction. As the industry continues to expand, so does the demand for fish meal, which provides the necessary nutrients for farmed fish species. This trend is further supported by innovations in feed technology, which aim to improve feed conversion ratios and reduce production costs.

Another key driver of the fish meal market is the rising awareness of the benefits of protein-rich diets for livestock. Fish meal is increasingly being used in the diets of poultry, swine, and ruminants due to its superior nutritional profile, which includes essential amino acids and digestible energy. These properties help enhance growth rates, improve feed conversion efficiency, and bolster the overall health of livestock. Moreover, as consumers become more health-conscious and demand sustainably-raised animal products, farmers are turning to fish meal to meet these expectations. This shift in consumer preferences is encouraging farmers to adopt fish meal in feed formulations, thereby driving market growth.

Fish Oil and Fishmeal are integral components of the aquaculture industry, providing essential nutrients that support the growth and health of farmed fish. Fish oil, rich in omega-3 fatty acids, plays a crucial role in enhancing the nutritional value of aquaculture feeds, promoting better growth rates and overall fish health. Meanwhile, fishmeal, known for its high protein content, is a staple in feed formulations, ensuring that fish receive the necessary amino acids for optimal development. The synergy between fish oil and fishmeal not only supports the aquaculture sector but also contributes to the sustainability of fish farming practices by optimizing feed efficiency and reducing environmental impact. As the demand for seafood continues to rise, the importance of these ingredients in aquaculture feed cannot be overstated, driving innovation and sustainable practices in the industry.

The increasing focus on sustainable feed production is also contributing to the growth of the fish meal market. With environmental concerns at the forefront, there is a growing emphasis on finding sustainable sources of fish meal, such as by-products from the fishing industry and sourcing from well-managed fisheries. These practices help alleviate pressure on wild fish stocks and ensure a steady supply of fish meal without compromising ecological balance. Furthermore, regulatory frameworks and certifications promoting sustainable fishing practices are encouraging producers to adopt more environmentally friendly approaches, thereby supporting market expansion.

Regionally, the Asia Pacific dominates the fish meal market due to its large aquaculture industry and high consumption of fish-derived products. Countries like China and India are major contributors, driven by their vast aquaculture operations and increasing demand for animal protein. The region's robust market is also bolstered by government initiatives to support sustainable aquaculture development and investments in feed production infrastructure. Meanwhile, North America and Europe are witnessing moderate growth, driven by advancements in feed technology and increasing awareness of sustainable feed practices. Latin America and the Middle East & Africa, although smaller markets, are expected to grow steadily, supported by emerging aquaculture activities and rising livestock production.

The global fishmeal market, valued at $6.468 billion in 2025, is projected to experience steady growth, exhibiting a compound annual growth rate (CAGR) of 3.0% from 2025 to 2033. This growth is driven by several factors. Increasing demand for aquaculture feed, fueled by rising global seafood consumption and the growing popularity of farmed fish as a sustainable protein source, is a primary driver. Technological advancements in fishmeal production, leading to improved efficiency and reduced environmental impact, are also contributing to market expansion. Furthermore, the diversification of fishmeal applications beyond animal feed, including its use in cosmetics and pharmaceuticals, is creating new market opportunities. However, fluctuating raw material prices, stringent regulations concerning sustainable fishing practices, and the potential for alternative protein sources to compete with fishmeal pose challenges to market growth. The market is segmented by various factors such as geographical region (likely including North America, Europe, Asia-Pacific, and South America, given the listed companies), species of fish used in production, and the type of end-user (aquaculture, animal feed, other). Competitive dynamics are characterized by a mix of established multinational corporations and regional players. The presence of companies like TASA, Diamante, and Austevoll Seafood ASA indicates a globally distributed industry with significant regional variations in market share. The forecast period from 2025 to 2033 anticipates continued growth, albeit at a moderate pace. Factors like evolving consumer preferences toward sustainably sourced products and the implementation of stricter environmental regulations will influence the trajectory of the market. Companies are likely to focus on strategies such as vertical integration, sustainable sourcing practices, and product diversification to maintain a competitive edge. The market will likely see consolidation as larger players acquire smaller ones to gain market share and enhance their supply chain. Regional growth will vary depending on the rate of aquaculture development and the prevalence of specific fish species in different areas. While the exact regional market shares are not provided, a reasonable assumption would be a significant share held by regions with strong aquaculture industries and proximity to key fishmeal producing countries.

Fish Meal Alternative Market Outlook

The global fish meal alternative market size was valued at approximately $5.2 billion in 2023 and is projected to reach around $11.4 billion by 2032, growing at a compound annual growth rate (CAGR) of 8.9% during the forecast period. This growth is primarily driven by increasing awareness of sustainability in aquaculture and livestock industries, coupled with technological advancements in alternative protein sources. The rise in environmental concerns regarding overfishing and the need for sustainable aquafeed options are significant growth factors contributing to the expansion of the fish meal alternative market.

One of the critical growth drivers for the fish meal alternative market is the increasing demand for sustainable and eco-friendly aquafeed solutions. Traditional fish meal production has led to overfishing and depletion of marine resources, prompting the need for alternative protein sources to mitigate environmental impact. Various organizations and governments are implementing stringent regulations to limit overfishing and promote sustainable aquaculture practices, further driving the adoption of fish meal alternatives. Additionally, advancements in biotechnology and microbial fermentation techniques have facilitated the development of efficient and cost-effective alternative protein sources, contributing to market growth.

The growing global aquaculture industry is another significant factor propelling the fish meal alternative market. Aquaculture, or the farming of aquatic organisms, is experiencing rapid growth as a solution to meet the world's increasing demand for seafood. As aquaculture expands, so does the need for sustainable and nutritionally rich feed options. Fish meal alternatives, such as plant-based proteins, insect-based proteins, and algae-based proteins, provide viable and environmentally friendly solutions that meet the nutritional needs of farmed fish and crustaceans. This shift towards sustainable aquafeed solutions is expected to drive market growth over the forecast period.

Moreover, the livestock and pet food industries are increasingly adopting fish meal alternatives to improve the sustainability of their operations. The livestock sector requires large quantities of protein-rich feed, traditionally sourced from fish meal. However, concerns about the environmental impact and ethical considerations are leading to a shift towards alternative protein sources. Similarly, the pet food industry is witnessing a growing trend towards sustainable and natural ingredients, driving the demand for fish meal alternatives. These factors, combined with consumer preference for eco-friendly products, are expected to fuel market growth.

Aquaculture Protein plays a crucial role in the sustainable development of the fish meal alternative market. As the global population continues to grow, the demand for seafood and aquaculture products is rising, necessitating the need for efficient and sustainable protein sources. Aquaculture Protein, derived from alternative sources such as plant-based, insect-based, and algae-based proteins, offers a viable solution to meet this demand. These proteins not only provide essential nutrients required for the growth and health of aquatic organisms but also help in reducing the environmental impact associated with traditional fish meal production. By incorporating Aquaculture Protein into feed formulations, the industry can support the expansion of sustainable aquaculture practices, ensuring a steady supply of seafood for future generations.

Regionally, the fish meal alternative market exhibits diverse growth patterns. Asia Pacific is anticipated to be the largest market due to the region's significant aquaculture industry and increasing awareness of sustainable practices. North America and Europe are also expected to witness substantial growth, driven by stringent environmental regulations and high consumer demand for sustainable products. Latin America and the Middle East & Africa are emerging markets with growing aquaculture and livestock sectors, presenting lucrative opportunities for market expansion.

Source Analysis

The fish meal alternative market is segmented by source, including plant-based, insect-based, algae-based, microbial-based, and others. Plant-based protein sources, such as soy, pea, and lupin, are gaining prominence due to their high nutritional value and sustainability. These protein sources are readily available and relatively cost-ef

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

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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

The semi-skimmed fish meal market, while lacking precise figures in the provided data, shows significant promise. Considering the overall growth in the broader fishmeal market and the increasing demand for sustainable and cost-effective aquaculture feed ingredients, we can infer robust expansion. The CAGR, although unspecified, is likely within the range of 4-6% considering similar markets. This growth is driven by several factors: the burgeoning aquaculture industry requiring substantial feed resources, the rising consumer preference for seafood, and the increasing awareness of semi-skimmed fish meal's nutritional benefits compared to full-fat alternatives. The market segments likely include various applications in aquaculture (e.g., salmon, shrimp, tilapia farming) with different formulations tailored to specific species requirements. Major restraints could include fluctuating raw material prices (fish supplies), regulations around sustainable fishing practices, and potential competition from alternative protein sources like insect meal or single-cell proteins. Leading players like Archer Daniels Midland, Cargill, and others, are well-positioned to capitalize on this growth, leveraging their established supply chains and expertise. The competitive landscape is characterized by both large multinational corporations and regional players. Geographic distribution will likely show strong concentration in regions with significant aquaculture activity, such as Southeast Asia, South America, and parts of Europe. While precise regional data is unavailable, we can anticipate a shift towards regions with sustainable fishing practices and growing aquaculture sectors in the forecast period (2025-2033). The historical period (2019-2024) likely reflected a period of market consolidation and increasing technological advancements in fishmeal processing, leading to higher efficiency and improved product quality. The market's future relies on continued investment in sustainable sourcing, technological innovation to improve efficiency and reduce environmental impact, and the ability of key players to meet the ever-growing demand from the aquaculture industry.

Semi-Skimmed Fish Meal Market Outlook

The semi-skimmed fish meal market, which held a valuation of approximately $8.5 billion in 2023, is expected to grow at a compound annual growth rate (CAGR) of 4.2% to reach $12.1 billion by 2032. This growth is underpinned by rising demand for high-quality animal feed, particularly in the aquaculture industry, which is driving the market size for semi-skimmed fish meal. The increasing global population and the ensuing demand for protein-rich diets have significantly contributed to the growth of the semi-skimmed fish meal market. As consumers seek healthier and sustainable protein sources, the aquaculture industry is expanding, subsequently heightening the demand for semi-skimmed fish meal.

A major growth factor in the semi-skimmed fish meal market is the proliferating aquaculture sector. Fish meal, particularly semi-skimmed varieties, is a crucial component in aquafeed, supplying essential nutrients that promote growth and health in farmed fish. The increasing preference for fish as a healthier protein source compared to red meat has led to an expansion in aquaculture activities globally. This expansion is supported by technological advancements in aquaculture practices, which have improved the efficiency of fish farming and increased the need for high-quality feed like semi-skimmed fish meal. As the sector continues to innovate and expand, the demand for semi-skimmed fish meal as a sustainable and nutritious feed source is expected to rise correspondingly.

The semi-skimmed fish meal market is also buoyed by the rising demand for pet food and animal feed. Pet owners are increasingly opting for premium and nutritionally rich diets for their pets, which has led to the incorporation of fish meal into pet food formulations. Similarly, the livestock industry relies on fish meal for its high protein and essential amino acid content, which are crucial for the growth and well-being of animals. The versatility of semi-skimmed fish meal across different feed applications, including pet food and animal feed, is a significant factor contributing to its market growth. With the trend toward healthier and premium pet diets, the fish meal market is likely to see sustained demand.

Environmental sustainability is another critical factor propelling the growth of the semi-skimmed fish meal market. With increasing awareness of the ecological impacts of conventional animal feed production, the push towards sustainable and eco-friendly alternatives has gained momentum. Semi-skimmed fish meal fits this niche, as it is produced from fish processing by-products, helping to minimize waste and promote resource efficiency. The emphasis on sustainable practices in both aquaculture and agriculture is expected to bolster the market for semi-skimmed fish meal, as more stakeholders in these sectors prioritize environmentally friendly and sustainable feed options.

Fishmeal & Fish Oil are integral components in the production of semi-skimmed fish meal, offering a rich source of omega-3 fatty acids and essential nutrients that are vital for the health and growth of aquaculture species. The inclusion of Fishmeal & Fish Oil in aquafeed formulations not only enhances the nutritional profile but also improves the palatability of the feed, encouraging better feed intake and growth rates in farmed fish. As the aquaculture industry continues to expand, the demand for these high-quality ingredients is expected to rise, driving innovations in feed formulations to optimize the benefits of Fishmeal & Fish Oil. This trend underscores the importance of sustainable sourcing and production practices to ensure the long-term availability of these valuable resources.

Regionally, Europe and Asia Pacific are expected to dominate the semi-skimmed fish meal market. Europe, with its stringent regulations on animal feed quality and sustainability, has seen significant uptake of fish meal in aquaculture and livestock feeds. Meanwhile, in the Asia Pacific region, the robust growth of the aquaculture industry, particularly in countries like China and India, acts as a catalyst for the market. The rising consumption of seafood and the expansion of aquaculture to meet this demand are propelling the use of semi-skimmed fish meal in the region. North America is also seeing steady growth, driven by increasing awareness of sustainable feed practices and rising demand in the pet food segment.

Source Analysis

The semi-skimmed fish meal market is heavily influenced by the

The global steam dried fishmeal market is experiencing robust growth, driven by increasing demand from the aquaculture and animal feed industries. The rising global population and the consequent surge in protein consumption are key factors fueling this expansion. Aquaculture, in particular, is a significant driver, with steam dried fishmeal serving as a crucial protein source in fish feed formulations, contributing to improved growth rates and overall health of farmed fish. While the specific CAGR isn't provided, considering the growth trajectories of aquaculture and the overall animal feed market, a conservative estimate would place the annual growth rate between 4-6% for the forecast period (2025-2033). This growth is further propelled by ongoing advancements in fishmeal processing technologies, resulting in higher quality and more consistent products. However, the market faces challenges such as fluctuating raw material prices (fish supplies), environmental concerns related to overfishing, and increasing competition from alternative protein sources like insect meal and single-cell proteins. Market segmentation reveals a strong preference for defatted fishmeal due to its higher protein content and reduced lipid oxidation, leading to better feed efficiency and improved animal health. Geographically, the Asia-Pacific region, particularly China and India, is expected to dominate the market due to its substantial aquaculture industry and increasing livestock farming. North America and Europe also represent significant markets, with steady demand from both aquaculture and pet food sectors. The competitive landscape is characterized by a mix of large multinational corporations and regional players, reflecting varying levels of vertical integration within the value chain. The future of the steam dried fishmeal market hinges on sustainable sourcing practices, technological innovations to improve efficiency and reduce environmental impact, and addressing the regulatory landscape concerning the use of fishmeal in feed. Addressing consumer concerns regarding sustainability and ethical sourcing will be crucial for sustained growth. Furthermore, exploring and developing alternative protein sources and diversification of supply chains will help to mitigate the risks associated with raw material price fluctuations and resource limitations. Companies are actively investing in research and development to enhance product quality and develop value-added products, which will further shape the market's evolution in the coming years. The overall outlook for the steam dried fishmeal market remains positive, with continued growth expected, albeit subject to the aforementioned challenges and opportunities.

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.