Global Fish Feed Market Insights Forecasts to 2033

• The Global Fish Feed Market Size was Valued at USD 120.70 Billion in 2023
• The Market Size is Growing at a CAGR of 3.97% from 2023 to 2033
• The Worldwide Fish Feed Market Size is Expected to Reach USD 178.20 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Global Fish Feed Market Size is Anticipated to Exceed USD 178.20 Billion by 2033, Growing at a CAGR of 3.97% from 2023 to 2033.  

Market Overview

Fish provide the nutrients they require to grow and maintain their health using a mixture of components known as fish feed. The feed, used to feed fish in ponds and aquariums, is rich in macronutrients, trace elements, and vitamins. Additives are also used in some fish meals to improve the color of ornamental fish. Fish farms use fish feed, a mixture of basic ingredients, additives, and extra supplements from natural or artificial sources. Fish feed made for different uses, such as aquarium fish feed, intended for pet fish housed in aquariums or ponds, is also available in fish feed markets. Due to the limited supply of marine feed resources and the rising demand for fish, which is driving the growth of fish farming, fish feed manufacturing is predicted to rise. The market for fish feed is expected to drive as a result of the growing use of "Scientific Aquaculture Management Practices" (SAMP) to improve feed quality.    

Report Coverage

This research report categorizes the fish feed market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the fish feed market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the fish feed market.

Driving Factors

The rising affluence of the middle class in developing nations, which has led to greater consumption of processed seafood, and rising fish consumption are the primary factors driving the growth of the fish feed market. Due to the depletion of marine feed supplies and the rising demand for fish, which has led to an increase in fish farming, the fish feed market. The growing middle-class wealth in developing countries along with expanding fish consumption expected to drive growth in the fish feed market.      

Restraining Factors

Regulations related to aquaculture, feed composition, and environmental requirements have the potential to restrict the demand for fish feed market.   

Market Segmentation

The fish feed market share is classified into product type, form, and application.  

• The plant-based segment is estimated to hold the largest market revenue share through the projected period.  

Based on the product type, the fish feed market is classified into plant-based, fish and fish products, and microorganisms. Among these, the plant-based segment is estimated to hold the largest market revenue share through the projected period. Aquafarmers are using plant-based fish feed for feeding their fish while reducing their adverse effects on wild fish populations and aquatic ecosystems, due to increased environmental awareness.    

• The pellets segment is anticipated to hold the largest market share through the forecast period.

Based on the form, the fish feed market is divided into pellets, granules, flakes, sticks, and powder. Among these, the pellets segment is anticipated to hold the largest market share through the forecast period. Fish feed pellets are preferred as they can provide farmed fish with a well-rounded diet. Essential elements like as proteins, lipids, vitamins, and minerals are carefully formulated into these diets.   

• The commercial segment is anticipated to hold the largest market share through the forecast period.

Based on the application, the fish feed market is divided into commercial and household. Among these, the commercial segment is anticipated to hold the largest market share through the forecast period. Supporting fish's nutritional demands is a top priority in commercial fish farming, which supplies the restaurant and retail industries. Premium feeds are designed to provide fish with the best nutrients possible to support healthy growth and to improve their flavor and texture, which is going to consumers.  

Regional Segment Analysis of the Fish Feed Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the fish feed market over the predicted timeframe.

North America is anticipated to hold the largest share of the fish feed market over the predicted timeframe. The fish feed market is predicted to expand in North America for a few main reasons. Concerns about sustainability have forced the aquaculture sector to concentrate on ethical methods. Using environmentally friendly and efficient feeds with a vast coastline and an advantageous location between the Pacific and Atlantic oceans to the west and east, the United States enjoys several natural advantages. The demand for aquatic items is high in the United States, owing to the distinctive position that seafood plays in the market.

Asia Pacific is expected to grow at the fastest CAGR growth of the fish feed market during the forecast period. The Asia Pacific region holds a prominent position in the market due to the existence of significant participants in the aquaculture market, a wide variety of produced fish species, and government support measures that promote the growth of the aquaculture sector. Countries like China, India, and Indonesia play major roles in aquaculture production and consumption, which drives the need for fish feed in the region.     

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the fish feed market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• MiAlgae
• Cargill, Inc.
• Zeigler Bros., Inc.
• Archer Daniels Midland
• Alltech Inc
• Dibaq Aquaculture
• Skretting AS
• Aller Aqua A/S
• Sonac B.V.
• BioMar Group
• Marubeni Nisshin Feed Co., Ltd.
• Nutreco N.V.
• Biomin Holding GmbH
• Ridley Corp.Ltd
• Others  

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs) 

Recent Development

• In June 2024, the aquafeed manufacturer Skretting announced the launch of a novel feed formulation concept that improves feed consistency and efficacy while cutting back on needless excess.    

• In July 2023, the experimental attempt to make fish feed from organic waste was launched by the Kerala University of Fisheries and Ocean Studies (Kufos). Using black soldier fly larvae, the initiative seeks to produce the protein needed for fish feed from organic waste. For this reason, organic waste is segregated at the source.   

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the fish feed market based on the below-mentioned segments: 

Global Fish Feed Market, By Product Type

• Plant-Based
• Fish & Fish Products
• Microorganism

Global Fish Feed Market, By Form

• Pellet
• Granules
• Flakes
• Sticks
• Powder

Global Fish Feed Market, By Application

• Commercial
• Household

Global Fish Feed Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa