| Study Period | 2019 - 2030 |
| Market Size (2025) | USD 12.40 Billion |
| Market Size (2030) | USD 14.5 Billion |
| CAGR (2025 - 2030) | 4.50 % |
| Fastest Growing Market | Europe |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Fish Meal And Fish Oil Market Analysis
The Fish Meal And Fish Oil Market size is estimated at USD 12.40 billion in 2025, and is expected to reach USD 14.5 billion by 2030, at a CAGR of 4.5% during the forecast period (2025-2030).
Fish meal and fish oil are protein-rich byproducts derived from forage fish. These easily digestible products serve as essential components in animal feed, particularly in poultry and aquaculture (salmon and tilapia) industries. The products provide significant health benefits and fulfill the nutritional requirements of animals while enhancing their immune systems. The increased incorporation of fish meal and fish oil in swine and poultry diets to improve productivity contributes to market expansion.
The expansion of animal husbandry and aquaculture industries drives the demand for fish meal and fish oil. According to the World Wildlife Fund, approximately 90% of forage fish are processed into fish meal and fish oil, with seven of the top ten fisheries focusing on these products.
The aquaculture industry maintains a consistent demand for fish meal and fish oil due to their high nutritional value and digestibility. Fish meal provides essential amino acids, minerals, phospholipids, and fatty acids in balanced proportions, contributing to improved growth rates and production yields. The efficient absorption of these feeds by cultured fish reduces water pollution and enhances production system efficiency, further driving market growth.
Product innovations continue to strengthen market development. In 2023, Pelagia, a major producer of pelagic fish products for human consumption and supplier of fish and animal feed ingredients, introduced Pro-Allo fishmeal for aquafeed. This product is specifically formulated to support allostasis in fish, helping them combat stress from environmental changes and handling.
Fish Meal And Fish Oil Market Trends
Salmon & Trout Hold is Significant Segment by Type
The demand for salmon and trout meal continues to increase due to their high fishmeal and fish oil content. These fish are commercially bred for their meat, while their byproducts, including bones, heads, and trimmings, are used in fishmeal and fish oil production. According to FAOSTAT, Atlantic salmon production reached 692,800 metric tons in 2022, representing a 3.4% increase compared to the previous year. This increased production provides companies with abundant raw materials to meet global fish oil demand. The high nutrient content, including Omega-3, minerals, and fatty acids, ensures premium quality fishmeal production.
Market participants, government fisheries, and small inter- and intraregional fishing farms collaborate to create a sustainable demand cycle in the aquatic feed additives market. In 2021, Biomega AS, an international fish oil and fishmeal manufacturer, expanded its operations by investing in a biorefinery in Denmark. This facility expansion aims to strengthen the company's position in the fishmeal market through enhanced salmon-derived product development.
Fish oil extracted from salmon and trout tissues contains omega-3 fatty acids, specifically eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA). These omega-3 fatty acids find applications in aquaculture, animal nutrition, pet food, supplements, functional foods, and pharmaceuticals. The compounds support cardiovascular and nervous system functions, serving as essential components in neural operations. Increasing awareness among public and medical communities regarding omega-3 fatty acids' benefits has significantly boosted salmon fish oil consumption.
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North America Dominate the Market
North America plays a significant role in the fish oil and fishmeal market, though it’s not the only major player. The region is especially prominent in terms of production, consumption, and innovation. The United States and Canada, for instance, have strong fishing industries and substantial demand for fish oil and fishmeal, particularly for use in animal feed, aquaculture, and even nutraceuticals.
The United States fishmeal and fish oil market growth is driven by increased fishmeal production, expanding fish and livestock production, and rising pet ownership. The United States dominates the North American market, supported by government initiatives. The country's Exclusive Economic Zone (EEZ) spans 220 nautical miles, giving the United States control over marine resources within this area. This extensive maritime jurisdiction creates significant opportunities for the marine industry, contributing to the expansion of the fishmeal and fish oil market. According to the International Fishmeal and Fish Oil Organization (IFFO), the United States recorded a 5% increase in fishmeal production and an 8% increase in fish oil production in 2022 compared to 2020.
In addition, the rising fish consumption drives the market due to a shift toward a pescatarian diet. Salmon, shrimp, and crab are Canada's most frequently consumed seafood. Fisheries and Oceans Canada estimated that the fish products available are 9.14 kg per capita, and fish consumption will increase by 11% by 2025. Also, consumers in Canada are paying more for their salmon due to its health benefits, with about half of the consumers eating salmon at home in the past few years. Thus, the rising poultry and fish consumption and production is anticipated to fuel the growth of the market.
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Fish Meal And Fish Oil Industry Overview
The fish meal and fish oil Market is fragmented, with significant players including Scoular Company, Pelagia, Pesquera Exalmar S.A.A, Copeinca, and Oceana Group. With major companies investing in product innovation, partnerships, and expansions to increase their regional market shares, the Fish Meal and Fish Oil Market is anticipated to become more consolidated during the forecast period.
Fish Meal And Fish Oil Market Leaders
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The Scoular Company
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Pesquera Exalmar S.A.A
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Copeinca
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Pelagia
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Oceana Group
- *Disclaimer: Major Players sorted in no particular order
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Fish Meal And Fish Oil Market News
- January 2023: IDB, a leading investment bank, partnered with Pesquera Exalmar S.A.A through an investment of over USD 40 million to increase sustainable fishing, which helps the company improve its sustainable product offering in the coming years.
- December 2022: Pelagia AS acquired Aquarius by signing an agreement with Vigner Olaisen. Aquarius is involved in producing fish oil and protein concentrates and helps Pelagia increase its customer base and sales in the fish meal and fish oil market.
Fish Meal And Fish Oil Industry Segmentation
Fish meal is a coarsely ground powder made from cooked fish. It is made from whole wild-caught fish, bycatch, and fish by-products. Additionally, fish oil is a natural liquid fat that comes from oily fish and is made by pressing, sifting, and centrifuging cooked fish. The Report covers Fish Meal And Fish Oil Market Segmented by Species Type (Salmon and Trout, Crustaceans, Marine Fish, Carps, Tilapias, and Other Species), Application (Poultry, Swine, Cattle, Pets, Aquatic Animals, and Other Applications), Geography (North America, Europe, Asia-Pacific, South America, and Middle East & Africa). The report offers the market sizes and forecasts in value (USD million) for all the above segments.
| Type | Salmon & Trout | ||
| Crustaceans | |||
| Marine Fish | |||
| Carps | |||
| Tilapias | |||
| Other Specie | |||
| Application | Poultry | ||
| Swine | |||
| Pets | |||
| Aquatic Animals | |||
| Other Applications | |||
| Geography | North America | United States | |
| Canada | |||
| Mexico | |||
| Rest of North America | |||
| Europe | Germany | ||
| United Kingdom | |||
| France | |||
| Netherlands | |||
| Russia | |||
| Norway | |||
| Rest of Europe | |||
| Asia-Pacific | China | ||
| Japan | |||
| Australia | |||
| Rest of Asia-Pacific | |||
| South America | Brazil | ||
| Argentina | |||
| Rest of South America | |||
| Middle East & Africa | United Arab Emirates | ||
| Saudi Arabia | |||
| South Africa | |||
| Egypt | |||
| Rest of Middle East & Africa | |||
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Fish Meal And Fish Oil Market Research FAQs
How big is the Fish Meal And Fish Oil Market?
The Fish Meal And Fish Oil Market size is expected to reach USD 12.40 billion in 2025 and grow at a CAGR of 4.5% to reach USD 14.5 billion by 2030.
What is the current Fish Meal And Fish Oil Market size?
In 2025, the Fish Meal And Fish Oil Market size is expected to reach USD 12.40 billion.
Who are the key players in Fish Meal And Fish Oil Market?
The Scoular Company, Pesquera Exalmar S.A.A, Copeinca, Pelagia and Oceana Group are the major companies operating in the Fish Meal And Fish Oil Market.
Which is the fastest growing region in Fish Meal And Fish Oil Market?
Europe is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Fish Meal And Fish Oil Market?
In 2025, the North America accounts for the largest market share in Fish Meal And Fish Oil Market.
What years does this Fish Meal And Fish Oil Market cover, and what was the market size in 2024?
In 2024, the Fish Meal And Fish Oil Market size was estimated at USD 11.84 billion. The report covers the Fish Meal And Fish Oil Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Fish Meal And Fish Oil Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Fish Meal And Fish Oil Industry Report
Statistics for the 2025 Fish Meal And Fish Oil market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Fish Meal And Fish Oil analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
