Fish Feed Market is expected to grow steadily due to rising seafood demand and expanding global aquaculture production

The global fish feed market size was worth around USD 15.50 billion in 2023 and is predicted to grow to around USD 27.78 billion by 2032, with a compound annual growth rate (CAGR) of roughly 6.70% between 2024 and 2032.

Fish feed is specially prepared food used in aquaculture to help farmed fish grow well, stay healthy, and produce better yields. These feeds are designed to provide the right balance of proteins, fats, vitamins, minerals, and nutrients needed by different fish species. Fish feed products come in forms such as pellets, granules, powders, and floating or sinking feeds used in freshwater and marine fish farms. Feed manufacturers use ingredients such as fishmeal, soybean meal, corn gluten, fish oil, and other plant or protein sources to create balanced, affordable feed formulas. Many producers also add special ingredients, such as probiotics, enzymes, and health supplements, to improve fish digestion and protect them from disease. The fish feed market serves many farmed species, including salmon, tilapia, shrimp, catfish, carp, and sea bass. The industry is also focusing more on sustainable ingredients to reduce reliance on wild-caught fish.

The growth of the global fish feed industry is primarily driven by rising global seafood consumption, declining wild fish catch volumes, the expansion of commercial aquaculture farms, and growing awareness of the nutritional benefits of farmed fish.

Browse the full “Fish Feed Market By Form (Sticks, Pellets, Powder, Flakes, and Granules), By Product Type (Microorganism, Fish Products, and Plant-Based), By Application (Household and Commercial), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2024-2032” Report at https://www.zionmarketresearch.com/report/fish-feed-market

Market Growth Factors

Several key factors are driving the expansion of the fish feed market.

• Aquaculture industry expansion: Governments and private investors are expanding fish farming to supply more seafood for growing populations, thereby increasing overall demand for fish feed in aquaculture production.
• Decline in wild fish stocks: Overfishing and damage to ocean ecosystems have reduced the wild fish supply, prompting consumers to buy more farmed fish that depend entirely on manufactured feed.
• Nutritional innovation in feeds: Scientists and feed companies are developing new ingredients such as insect protein, algae, and plant-based materials to improve feed quality and reduce costs.

Restraints

• Raw material price volatility: Changes in global prices of fishmeal and fish oil increase feed production costs and create financial uncertainty for feed manufacturers and aquaculture farmers.
• Environmental and regulatory pressures: Governments and environmental groups are increasing regulations on feed ingredient sourcing and aquaculture practices, raising compliance requirements and operational costs across the industry.

Fish Feed Market: Report Scope

Market Segmentation

The fish feed market can be segmented by ingredient type, feed form, fish species, distribution channel, and region.

Based on ingredient type, the fish feed industry is divided into conventional ingredients, such as fishmeal and fish oil; plant-based alternatives, such as soybean and canola meal; and emerging sources, such as insect protein and algae. Plant-based ingredients are gaining share as manufacturers seek cost stability and more sustainable sourcing options.

Based on feed form, the fish feed market is categorized into dry, moist, and semi-moist feeds. Dry extruded pellets dominate the market due to their long shelf life, ease of handling, and efficient nutrient delivery during feeding.

Based on fish species, the market is divided into salmon and trout, tilapia, catfish, carp, shrimp, and other marine species. Salmon and trout feeds represent the highest-value segment due to their premium pricing and the nutritional complexity of salmonid diets.

Based on application, the market is classified into commercial aquaculture farms, research institutions, and ornamental fish breeding operations. Commercial aquaculture farms account for the largest share of total feed consumption, driven by large-scale fish farming and continuous feed demand for growth and production cycles.

Asia Pacific leads the global fish feed market because the region produces more than two-thirds of the world’s farmed fish. Countries such as China, India, Vietnam, and Indonesia operate very large freshwater and marine fish farming industries. China alone produces more farmed fish than many other countries combined and has a strong fish feed manufacturing sector. Government programs that support aquaculture in rural areas are increasing the demand for fish feed across Southeast Asia. Rising middle-class populations in these countries are also eating more fish as a healthy protein source. This growing consumption increases long-term demand for aquaculture production and the fish feed used in farms. Expanding aquaculture technology and better farming practices are also increasing feed use in the region. Increasing seafood exports from the Asia Pacific further strengthens demand for high-quality fish feed products.

Key Market Players

Leading companies operating in the global fish feed market include:

• Charoen Pokphand Group
• Coastal Corporation Ltd.
• Cargill Incorporated
• Kemin Industries Inc.
• Aller Aqua AS
• Archer Daniels Midland Co. (ADM)
• Nutriad International
• BioMar AS
• Ridley Corporation Ltd
• Nutreco NV
• Inve Aquaculture Inc.
• Alltech Inc.
• Zeal Aqua
• Biomin GmbH
• BASF SE

Recent Developments

• In August 2025, IFB Agro Industries Ltd. announced the acquisition of Cargill India’s shrimp and freshwater fish feed business, including manufacturing facilities and feed formulations, strengthening its position in the aquaculture feed market in India.
• In October 2025, Skretting (Nutreco Group) launched its Necto functional fish feed, incorporating plant-derived EDGEOS PhytoComplexes designed to improve fish health, resilience, and welfare in aquaculture production systems.

The global fish feed market is segmented as follows:

By Form

• Sticks
• Pellets
• Powder
• Flakes
• Granules

By Product Type

• Microorganism
• Fish Products
• Plant-Based

By Application

• Household
• Commercial

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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