Product Code: FBI100698
Growth Factors of aquafeed Market
The global aquafeed market stood at USD 71.28 billion in 2025 and is projected to grow from USD 75.42 billion in 2026 to USD 131.07 billion by 2034, registering a CAGR of 7.15% during 2026-2034. Asia Pacific dominated the market with a 73.88% share in 2025, reflecting the region's strong aquaculture production and seafood consumption trends.
Aquafeed refers to formulated feed used in aquaculture for fish, crustaceans, mollusks, and other aquatic species. Rising global seafood consumption and increasing aquaculture production are major factors driving the demand for high-quality feed solutions worldwide.
Market Dynamics
Market Drivers
Rising Seafood Consumption and Trade
Global seafood consumption has been steadily increasing and is expected to exceed 20 kg per capita by 2030. The surge in demand for fish and seafood products, including fish oil and fish meal, is significantly boosting aquaculture production. Growing international seafood trade further strengthens feed demand, particularly in major exporting nations such as China, India, and Vietnam.
Government initiatives also support industry expansion. For instance, India allocated USD 73.84 million toward fisheries development under the Blue Revolution Scheme, encouraging farmers to adopt quality aquafeed for improved productivity.
Increasing R&D Investments
Leading companies are investing heavily in research and development to introduce cost-effective and nutritionally enhanced feed solutions. Innovations include plant-based protein substitutes to reduce dependence on marine ingredients and improve sustainability. Mergers and acquisitions are also strengthening global footprints and product diversification strategies.
Market Restraints
Volatility in Raw Material Prices
The aquafeed industry heavily depends on raw materials such as soybean, corn, and fishmeal. Fluctuations in commodity prices directly affect feed production costs and final pricing. Additionally, the growing shift toward plant-based diets in certain regions may moderately impact long-term seafood demand.
Market Trends
Organic Fish Production
Organic aquaculture is gaining momentum as consumers increasingly prefer chemical-free and sustainably farmed seafood. Organic fish farming emphasizes non-GMO feed ingredients and lower stocking densities to ensure animal welfare. In Asia Pacific, the market grew from USD 52.66 billion in 2025 to USD 55.89 billion in 2026, reflecting strong regional demand for advanced feed solutions.
Segmentation Analysis
By Type
The market is segmented into fish, mollusks, crustaceans, and others.
- The fish segment leads the market, driven by increased fish farming to bridge the supply-demand gap. Species such as tilapia and carp are major feed consumers.
- The mollusks segment holds the second-largest share due to rising production of oysters and clams for human consumption.
By Ingredient
- Soybean is expected to dominate as a cost-effective and protein-rich alternative to fishmeal. The soybean segment held a 26.13% share in 2024 and continues to see strong demand.
- The additives segment is projected to grow at the highest CAGR, supported by increasing demand for amino acids and functional ingredients to enhance aquatic species' growth and immunity.
By Form
- The dry form of aquafeed accounts for a significant share and is expected to grow steadily through 2034. Pellet feed improves feed conversion ratios and offers advantages such as longer shelf life, easy storage, and transportation efficiency.
Regional Insights
Asia Pacific
Asia Pacific remains the dominant region, valued at USD 52.66 billion in 2025. China and India collectively account for a substantial portion of regional sales due to high seafood production rates. The China market is projected to reach USD 40.23 billion by 2026, while India is expected to reach USD 3.98 billion and Japan USD 4.3 billion by 2026. Expanding aquaculture infrastructure and technological advancements are driving growth across the region.
North America
North America is expected to witness considerable growth, supported by the presence of leading players such as Cargill Incorporated, Archer Daniels Midland Company, and Alltech Inc. The U.S. market is projected to reach USD 2.05 billion by 2026, with strong export potential and technological advancements boosting regional demand.
Europe
Europe's growth is driven by increasing salmon production and sustainable aquaculture practices. Rising seafood demand and technological innovations in feed production support steady expansion.
South America & Middle East & Africa
These regions are expected to witness moderate growth, supported by expanding aquaculture production and improving feed quality standards.
Competitive Landscape
The aquafeed market is moderately consolidated, with key players focusing on innovation, acquisitions, and expansion strategies. Major companies include Cargill Incorporated, Archer Daniels Midland Company, Alltech Inc., Nutreco N.V., BioMar A/S, Aller Aqua A/S, Ridley Corp Ltd, and Dibaq Aquaculture. Companies are investing in sustainable feed solutions and plant-based protein alternatives to strengthen market positions.
Conclusion
The global aquafeed market is projected to grow from USD 71.28 billion in 2025 to USD 131.07 billion by 2034, driven by rising seafood consumption, expanding aquaculture production, and government support initiatives. While raw material price volatility poses challenges, increasing investments in R&D, organic feed production, and sustainable ingredient innovation will support long-term growth. With Asia Pacific maintaining dominance and North America and Europe showing steady expansion, the aquafeed industry is poised for consistent and sustainable development through 2034.
Segmentation By Type
- Fish
- Carps
- Tilapias
- Catfish
- Salmons
- Others
- Crustaceans
By Ingredient
- Soybean
- Fishmeal
- Fish Oil
- Corn
- Additives
- Others
By Form
By Region
- North America (By Type, Ingredient, Form, and By Country)
- U.S. (By Ingredients)
- Canada (By Ingredients)
- Mexico (By Ingredients)
- Europe (By Type, Ingredient, Form, and By Country)
- Norway (By Ingredients)
- Spain (By Ingredients)
- U.K. (By Ingredients)
- France (By Ingredients)
- Italy (By Ingredients)
- Greece (By Ingredients)
- Rest of Europe (By Ingredients)
- Asia Pacific (By Type, Ingredient, Form, and By Country)
- China (By Ingredients)
- India (By Ingredients)
- Japan (By Ingredients)
- Australia (By Ingredients)
- Indonesia (By Ingredients)
- Thailand (By Ingredients)
- Rest of Asia Pacific (By Ingredients)
- South America (By Type, Ingredient, Form, and By Country)
- Chile (By Ingredients)
- Brazil (By Ingredients)
- Argentina (By Ingredients)
- Rest of South America (By Ingredients)
- The Middle East and Africa (By Type, Ingredient, Form, and By Country)
- South Africa (By Ingredients)
- U.A.E (By Ingredients)
- Rest of ME&A (By Ingredients)
Table of Content
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Emerging Trends
4. Key Insights
- 4.1. Overview of the Parent Market
- 4.2. Industry SWOT Analysis
- 4.3. Supply Chain Analysis
- 4.4. Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- 4.5. Impact of COVID-19
5. Global Aquafeed Market Analysis, Insights and Forecast, 2021-2034
- 5.1. Key Findings / Summary
- 5.2. Market Size Estimates and Forecast
- 5.2.1. By Type (Value)
- 5.2.1.1. Fish
- 5.2.1.1.1. Carps
- 5.2.1.1.2. Tilapias
- 5.2.1.1.3. Catfish
- 5.2.1.1.4. Salmons
- 5.2.1.1.5. Others
- 5.2.1.2. Crustaceans
- 5.2.1.3. Mollusks
- 5.2.1.4. Others
- 5.2.2. By Ingredient (Value)
- 5.2.2.1. Soybean
- 5.2.2.2. Fishmeal
- 5.2.2.3. Fish Oil
- 5.2.2.4. Corn
- 5.2.2.5. Additives
- 5.2.2.6. Others
- 5.2.3. By Form (Value)
- 5.2.3.1. Dry
- 5.2.3.2. Wet
- 5.2.4. By Region (Value)
- 5.2.4.1. North America
- 5.2.4.2. Europe
- 5.2.4.3. Asia Pacific
- 5.2.4.4. South America
- 5.2.4.5. Middle East & Africa
6. North America Aquafeed Market Analysis, Insights and Forecast, 2021-2034
- 6.1. Key Findings / Summary
- 6.2. Market Size Estimates and Forecast
- 6.2.1. By Type (Value)
- 6.2.1.1. Fish
- 6.2.1.1.1. Carps
- 6.2.1.1.2. Tilapias
- 6.2.1.1.3. Catfish
- 6.2.1.1.4. Salmons
- 6.2.1.1.5. Others
- 6.2.1.2. Crustaceans
- 6.2.1.3. Mollusks
- 6.2.1.4. Others
- 6.2.2. By Ingredient (Value)
- 6.2.2.1. Soybean
- 6.2.2.2. Fishmeal
- 6.2.2.3. Fish Oil
- 6.2.2.4. Corn
- 6.2.2.5. Additives
- 6.2.2.6. Others
- 6.2.3. By Form (Value)
- 6.2.3.1. Dry
- 6.2.3.2. Wet
- 6.2.4. By Country (Value)
- 6.2.4.1. U.S
- 6.2.4.1.1. By Ingredient (Value)
- 6.2.4.1.1.1. Soybean
- 6.2.4.1.1.2. Fishmeal
- 6.2.4.1.1.3. Fish Oil
- 6.2.4.1.1.4. Corn
- 6.2.4.1.1.5. Additives
- 6.2.4.1.1.6. Others
- 6.2.4.2. Canada
- 6.2.4.2.1. By Ingredient (Value)
- 6.2.4.2.1.1. Soybean
- 6.2.4.2.1.2. Fishmeal
- 6.2.4.2.1.3. Fish Oil
- 6.2.4.2.1.4. Corn
- 6.2.4.2.1.5. Additives
- 6.2.4.2.1.6. Others
- 6.2.4.3. Mexico
- 6.2.4.3.1. By Ingredient (Value)
- 6.2.4.3.1.1. Soybean
- 6.2.4.3.1.2. Fishmeal
- 6.2.4.3.1.3. Fish Oil
- 6.2.4.3.1.4. Corn
- 6.2.4.3.1.5. Additives
- 6.2.4.3.1.6. Others
7. Europe Aquafeed Market Analysis, Insights and Forecast, 2021-2034
- 7.1. Key Findings / Summary
- 7.2. Market Size Estimates and Forecast
- 7.2.1. By Type (Value)
- 7.2.1.1. Fish
- 7.2.1.1.1. Carps
- 7.2.1.1.2. Tilapias
- 7.2.1.1.3. Catfish
- 7.2.1.1.4. Salmons
- 7.2.1.1.5. Others
- 7.2.1.2. Crustaceans
- 7.2.1.3. Mollusks
- 7.2.1.4. Others
- 7.2.2. By Ingredient (Value)
- 7.2.2.1. Soybean
- 7.2.2.2. Fishmeal
- 7.2.2.3. Fish Oil
- 7.2.2.4. Corn
- 7.2.2.5. Additives
- 7.2.2.6. Others
- 7.2.3. By Form (Value)
- 7.2.3.1. Dry
- 7.2.3.2. Wet
- 7.2.4. By Country (Value)
- 7.2.4.1. Norway
- 7.2.4.1.1. By Ingredient (Value)
- 7.2.4.1.1.1. Soybean
- 7.2.4.1.1.2. Fishmeal
- 7.2.4.1.1.3. Fish Oil
- 7.2.4.1.1.4. Corn
- 7.2.4.1.1.5. Additives
- 7.2.4.1.1.6. Others
- 7.2.4.2. Spain
- 7.2.4.2.1. By Ingredient (Value)
- 7.2.4.2.1.1. Soybean
- 7.2.4.2.1.2. Fishmeal
- 7.2.4.2.1.3. Fish Oil
- 7.2.4.2.1.4. Corn
- 7.2.4.2.1.5. Additives
- 7.2.4.2.1.6. Others
- 7.2.4.3. United Kingdom
- 7.2.4.3.1. By Ingredient (Value)
- 7.2.4.3.1.1. Soybean
- 7.2.4.3.1.2. Fishmeal
- 7.2.4.3.1.3. Fish Oil
- 7.2.4.3.1.4. Corn
- 7.2.4.3.1.5. Additives
- 7.2.4.3.1.6. Others
- 7.2.4.4. France
- 7.2.4.4.1. By Ingredient (Value)
- 7.2.4.4.1.1. Soybean
- 7.2.4.4.1.2. Fishmeal
- 7.2.4.4.1.3. Fish Oil
- 7.2.4.4.1.4. Corn
- 7.2.4.4.1.5. Additives
- 7.2.4.4.1.6. Others
- 7.2.4.5. Italy
- 7.2.4.5.1. By Ingredient (Value)
- 7.2.4.5.1.1. Soybean
- 7.2.4.5.1.2. Fishmeal
- 7.2.4.5.1.3. Fish Oil
- 7.2.4.5.1.4. Corn
- 7.2.4.5.1.5. Additives
- 7.2.4.5.1.6. Others
- 7.2.4.6. Greece
- 7.2.4.6.1. By Ingredient (Value)
- 7.2.4.6.1.1. Soybean
- 7.2.4.6.1.2. Fishmeal
- 7.2.4.6.1.3. Fish Oil
- 7.2.4.6.1.4. Corn
- 7.2.4.6.1.5. Additives
- 7.2.4.6.1.6. Others
- 7.2.4.7. Rest of Europe
- 7.2.4.7.1. By Ingredient (Value)
- 7.2.4.7.1.1. Soybean
- 7.2.4.7.1.2. Fishmeal
- 7.2.4.7.1.3. Fish Oil
- 7.2.4.7.1.4. Corn
- 7.2.4.7.1.5. Additives
- 7.2.4.7.1.6. Others
8. Asia-Pacific Aquafeed Market Analysis, Insights and Forecast, 2021-2034
- 8.1. Key Findings / Summary
- 8.2. Market Size Estimates and Forecast
- 8.2.1. By Type (Value)
- 8.2.1.1. Fish
- 8.2.1.1.1. Carps
- 8.2.1.1.2. Tilapias
- 8.2.1.1.3. Catfish
- 8.2.1.1.4. Salmons
- 8.2.1.1.5. Others
- 8.2.1.2. Crustaceans
- 8.2.1.3. Mollusks
- 8.2.1.4. Others
- 8.2.2. By Ingredient (Value)
- 8.2.2.1. Soybean
- 8.2.2.2. Fishmeal
- 8.2.2.3. Fish Oil
- 8.2.2.4. Corn
- 8.2.2.5. Additives
- 8.2.2.6. Others
- 8.2.3. By Form (Value)
- 8.2.3.1. Dry
- 8.2.3.2. Wet
- 8.2.4. By Country (Value)
- 8.2.4.1. China
- 8.2.4.1.1. By Ingredient (Value)
- 8.2.4.1.1.1. Soybean
- 8.2.4.1.1.2. Fishmeal
- 8.2.4.1.1.3. Fish Oil
- 8.2.4.1.1.4. Corn
- 8.2.4.1.1.5. Additives
- 8.2.4.1.1.6. Others
- 8.2.4.2. India
- 8.2.4.2.1. By Ingredient (Value)
- 8.2.4.2.1.1. Soybean
- 8.2.4.2.1.2. Fishmeal
- 8.2.4.2.1.3. Fish Oil
- 8.2.4.2.1.4. Corn
- 8.2.4.2.1.5. Additives
- 8.2.4.2.1.6. Others
- 8.2.4.3. Japan
- 8.2.4.3.1. By Ingredient (Value)
- 8.2.4.3.1.1. Soybean
- 8.2.4.3.1.2. Fishmeal
- 8.2.4.3.1.3. Fish Oil
- 8.2.4.3.1.4. Corn
- 8.2.4.3.1.5. Additives
- 8.2.4.3.1.6. Others
- 8.2.4.4. Australia
- 8.2.4.4.1. By Ingredient (Value)
- 8.2.4.4.1.1. Soybean
- 8.2.4.4.1.2. Fishmeal
- 8.2.4.4.1.3. Fish Oil
- 8.2.4.4.1.4. Corn
- 8.2.4.4.1.5. Additives
- 8.2.4.4.1.6. Others
- 8.2.4.5. Indonesia
- 8.2.4.5.1. By Ingredient (Value)
- 8.2.4.5.1.1. Soybean
- 8.2.4.5.1.2. Fishmeal
- 8.2.4.5.1.3. Fish Oil
- 8.2.4.5.1.4. Corn
- 8.2.4.5.1.5. Additives
- 8.2.4.5.1.6. Others
- 8.2.4.6. Thailand
- 8.2.4.6.1. By Ingredient (Value)
- 8.2.4.6.1.1. Soybean
- 8.2.4.6.1.2. Fishmeal
- 8.2.4.6.1.3. Fish Oil
- 8.2.4.6.1.4. Corn
- 8.2.4.6.1.5. Additives
- 8.2.4.6.1.6. Others
- 8.2.4.7. Rest of Asia-Pacific
- 8.2.4.7.1. By Ingredient (Value)
- 8.2.4.7.1.1. Soybean
- 8.2.4.7.1.2. Fishmeal
- 8.2.4.7.1.3. Fish Oil
- 8.2.4.7.1.4. Corn
- 8.2.4.7.1.5. Additives
- 8.2.4.7.1.6. Others
9. South America Aquafeed Market Analysis, Insights and Forecast, 2021-2034
- 9.1. Key Findings / Summary
- 9.2. Market Size Estimates and Forecast
- 9.2.1. By Type (Value)
- 9.2.1.1. Fish
- 9.2.1.1.1. Carps
- 9.2.1.1.2. Tilapias
- 9.2.1.1.3. Catfish
- 9.2.1.1.4. Salmons
- 9.2.1.1.5. Others
- 9.2.1.2. Crustaceans
- 9.2.1.3. Mollusks
- 9.2.1.4. Others
- 9.2.2. By Ingredient (Value)
- 9.2.2.1. Soybean
- 9.2.2.2. Fishmeal
- 9.2.2.3. Fish Oil
- 9.2.2.4. Corn
- 9.2.2.5. Additives
- 9.2.2.6. Others
- 9.2.3. By Form (Value)
- 9.2.3.1. Dry
- 9.2.3.2. Wet
- 9.2.4. By Country (Value)
- 9.2.4.1. Chile
- 9.2.4.1.1. By Ingredient (Value)
- 9.2.4.1.1.1. Soybean
- 9.2.4.1.1.2. Fishmeal
- 9.2.4.1.1.3. Fish Oil
- 9.2.4.1.1.4. Corn
- 9.2.4.1.1.5. Additives
- 9.2.4.1.1.6. Others
- 9.2.4.2. Brazil
- 9.2.4.2.1. By Ingredient (Value)
- 9.2.4.2.1.1. Soybean
- 9.2.4.2.1.2. Fishmeal
- 9.2.4.2.1.3. Fish Oil
- 9.2.4.2.1.4. Corn
- 9.2.4.2.1.5. Additives
- 9.2.4.2.1.6. Others
- 9.2.4.3. Argentina
- 9.2.4.3.1. By Ingredient (Value)
- 9.2.4.3.1.1. Soybean
- 9.2.4.3.1.2. Fishmeal
- 9.2.4.3.1.3. Fish Oil
- 9.2.4.3.1.4. Corn
- 9.2.4.3.1.5. Additives
- 9.2.4.3.1.6. Others
- 9.2.4.4. Rest of South America
- 9.2.4.4.1. By Ingredient (Value)
- 9.2.4.4.1.1. Soybean
- 9.2.4.4.1.2. Fishmeal
- 9.2.4.4.1.3. Fish Oil
- 9.2.4.4.1.4. Corn
- 9.2.4.4.1.5. Additives
- 9.2.4.4.1.6. Others
10. Middle East & Africa Aquafeed Market Analysis, Insights and Forecast, 2021-2034
- 10.1. Key Findings / Summary
- 10.2. Market Size Estimates and Forecast
- 10.2.1. By Type (Value)
- 10.2.1.1. Fish
- 10.2.1.1.1. Carps
- 10.2.1.1.2. Tilapias
- 10.2.1.1.3. Catfish
- 10.2.1.1.4. Salmons
- 10.2.1.1.5. Others
- 10.2.1.2. Crustaceans
- 10.2.1.3. Mollusks
- 10.2.1.4. Others
- 10.2.2. By Ingredient (Value)
- 10.2.2.1. Soybean
- 10.2.2.2. Fishmeal
- 10.2.2.3. Fish Oil
- 10.2.2.4. Corn
- 10.2.2.5. Additives
- 10.2.2.6. Others
- 10.2.3. By Form (Value)
- 10.2.3.1. Dry
- 10.2.3.2. Wet
- 10.2.4. By Country (Value)
- 10.2.4.1. South Africa
- 10.2.4.1.1. By Ingredient (Value)
- 10.2.4.1.1.1. Soybean
- 10.2.4.1.1.2. Fishmeal
- 10.2.4.1.1.3. Fish Oil
- 10.2.4.1.1.4. Corn
- 10.2.4.1.1.5. Additives
- 10.2.4.1.1.6. Others
- 10.2.4.2. UAE
- 10.2.4.2.1. By Ingredient (Value)
- 10.2.4.2.1.1. Soybean
- 10.2.4.2.1.2. Fishmeal
- 10.2.4.2.1.3. Fish Oil
- 10.2.4.2.1.4. Corn
- 10.2.4.2.1.5. Additives
- 10.2.4.2.1.6. Others
- 10.2.4.3. Rest of Middle East & Africa
- 10.2.4.3.1. By Ingredient (Value)
- 10.2.4.3.1.1. Soybean
- 10.2.4.3.1.2. Fishmeal
- 10.2.4.3.1.3. Fish Oil
- 10.2.4.3.1.4. Corn
- 10.2.4.3.1.5. Additives
- 10.2.4.3.1.6. Others
11. Competitive Matrix
- 11.1. Business Strategies Adopted by Leading Players
- 11.2. Global Aquafeed Market Revenue Share/Ranking Analysis, By Key Manufacturer, 2026
12. Company Profiles
- 12.1. Cargill Incorporated
- 12.1.1. Overview
- 12.1.2. Description
- 12.1.3. Product Portfolio
- 12.1.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.5. Recent Developments
- 12.2. Archer Daniels Midland Company
- 12.2.1. Overview
- 12.2.2. Description
- 12.2.3. Product Portfolio
- 12.2.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.5. Recent Developments
- 12.3. Alltech Inc.
- 12.3.1. Overview
- 12.3.2. Description
- 12.3.3. Product Portfolio
- 12.3.4. Financials (Data as available in public domain and/or on paid databases)
- 12.3.5. Recent Developments
- 12.4. Purina Animal Nutrition
- 12.4.1. Overview
- 12.4.2. Description
- 12.4.3. Product Portfolio
- 12.4.4. Financials (Data as available in public domain and/or on paid databases)
- 12.4.5. Recent Developments
- 12.5. Ridley Corp. Ltd.,
- 12.5.1. Overview
- 12.5.2. Description
- 12.5.3. Product Portfolio
- 12.5.4. Financials (Data as available in public domain and/or on paid databases)
- 12.5.5. Recent Developments
- 12.6. Nutreco N.V.
- 12.6.1. Overview
- 12.6.2. Description
- 12.6.3. Product Portfolio
- 12.6.4. Financials (Data as available in public domain and/or on paid databases)
- 12.6.5. Recent Developments
- 12.7. Aller Aqua A/S
- 12.7.1. Overview
- 12.7.2. Description
- 12.7.3. Product Portfolio
- 12.7.4. Financials (Data as available in public domain and/or on paid databases)
- 12.7.5. Recent Developments
- 12.8. BioMar A/S
- 12.8.1. Overview
- 12.8.2. Description
- 12.8.3. Product Portfolio
- 12.8.4. Financials (Data as available in public domain and/or on paid databases)
- 12.8.5. Recent Developments
- 12.9. Dibaq Aquaculture
- 12.9.1. Overview
- 12.9.2. Description
- 12.9.3. Product Portfolio
- 12.9.4. Financials (Data as available in public domain and/or on paid databases)
- 12.9.5. Recent Developments
- 12.10. Beneo GmbH
- 12.10.1. Overview
- 12.10.2. Description
- 12.10.3. Product Portfolio
- 12.10.4. Financials (Data as available in public domain and/or on paid databases)
- 12.10.5. Recent Developments
13. Appendix