Global Aquafeed Market Grows at a Staggering CAGR of 6.71%

Introduction

Aquafeed consists of specialized feed formulations for aquatic animals such as fish, crustaceans, and mollusks. These formulations are carefully designed to supply essential nutrients, including proteins, lipids, vitamins, minerals, and functional additives, ensuring optimal growth, health, and production efficiency in aquaculture systems. The global aquafeed market encompasses producing, distributing, and consuming specially tailored feed for aquatic species like fish, mollusks, crustaceans, and other marine organisms cultivated in aquaculture.

The market's expansion is mainly driven by the surging global demand for seafood, which has rapidly increased aquaculture operations. With the decline of wild fish stocks and the continuous rise in global population, aquaculture has become a crucial seafood source, necessitating the development of high-quality aquafeed for sustainable and efficient production. Furthermore, innovations in feed formulations, including alternative protein sources and functional additives to enhance nutrition and disease resistance, provide considerable growth potential. For instance, the increasing use of plant-based proteins and insect meals as sustainable alternatives to conventional fishmeal is gaining momentum, addressing environmental concerns and raw material constraints.

Market Dynamics

Rising global demand for seafood drives market growth

The rapid growth of the aquaculture sector is primarily fueled by increasing seafood consumption. As global populations expand and dietary habits shift toward protein-rich and heart-healthy options, seafood demand surges. Consumers are becoming more aware of the nutritional benefits of seafood, including its high omega-3 content, lean protein, and essential nutrients that support cardiovascular and cognitive health.

• For example, in June 2024, the Food and Agriculture Organization (FAO) reported that global seafood consumption is projected to reach 180 million metric tons by 2030, with aquaculture supplying over 60% of the total.

This growing demand has necessitated a steady rise in aquaculture production, further increasing the need for high-quality aquafeed. Innovations in feed technology, such as enzyme-enhanced diets and algae-based alternatives, are improving fish growth rates while maintaining sustainability.

Innovation in feed additives and alternative formulations

Advancements in feed additives and alternative formulations present significant opportunities for growth in the aquafeed sector. Integrating probiotics, prebiotics, and immunostimulants in aquafeed enhances aquatic species' overall health and performance, leading to more efficient production systems. Companies invest in R&D to develop feeds that improve nutrient absorption while minimizing environmental waste.

• For example, in January 2025, Cargill introduced a novel aquafeed containing probiotic strains to improve gut health in farmed fish, leading to better feed conversion ratios and increased productivity.

Additionally, research into new ingredients, such as algae-derived omega-3 fatty acids, presents an opportunity to replace traditional fish oil, addressing sustainability challenges while meeting the rising demand for eco-friendly aquaculture practices. Government initiatives further support these innovations. In mid-2024, the U.S. Department of Agriculture (USDA) launched a funding program to support research on sustainable aquafeed ingredients, allocating grants for projects focused on alternative proteins and improved feed efficiency.

Regional Analysis

Asia-Pacific remains the leading region in the global aquafeed market, driven by widespread aquaculture activities in nations such as China, India, Vietnam, and Indonesia. The area benefits from favorable climatic conditions, abundant water resources, and a long-standing tradition of fish farming. China, the world’s largest aquaculture producer, significantly contributes to aquafeed demand, supported by government policies that provide subsidies and technological assistance.

In India, initiatives such as the Blue Revolution aim to boost fish production, indirectly driving aquafeed market growth. Adopting advanced feed technologies and pushing for sustainable aquaculture practices are also key regional trends. Leading aquafeed manufacturers, such as Charoen Pokphand Foods, have expanded their presence in Asia-Pacific, offering diverse aquafeed solutions tailored to local aquaculture needs.

Key Highlights

• The global aquafeed market size was valued at approximately USD 67.50 billion in 2024 and is projected to grow from USD 71.28 billion in 2025 to reach USD 112.27 billion by 2033, reflecting a CAGR of 6.71% during the forecast period (2025-2033).
• Based on product type, the global market is segmented into pellet feed, extruded feed, powder feed, and liquid feed. Pellet feed is the most widely utilized form in aquaculture due to its stability, ease of storage, and ability to deliver a balanced nutrient profile.
• Based on species, the global market is segmented into fish (salmon, tilapia, carp, catfish, etc.), crustaceans (shrimp, crab, etc.), mollusks (oyster, mussel, etc.), and others. Fish farming dominates the aquaculture industry, with species such as salmon, tilapia, and carp being the primary consumers of aquafeed.
• Based on additives, the global market is segmented into amino acids, vitamins & minerals, probiotics & prebiotics, enzymes, antioxidants, antibiotics, and others. Amino acids are crucial additives in aquafeed and are essential for aquatic animals' growth and metabolic functions.
• Based on form, the global market is segmented into dry feed, wet feed, and moist feed. Dry Feed, including pellets and crumbles, is preferred for its longer shelf life and ease of handling.
• Based on function, the global market is segmented into health maintenance, digestibility enhancement, palatability enhancement, and others. Functional feeds designed for health maintenance are gaining traction.
• Based on region, the global market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Asia-Pacific dominates the global market.

Competitive Players

1. Cargill
2. BioMar Group
3. Skretting
4. Alltech
5. Nutreco
6. Tongwei Co. Ltd.
7. Charoen Pokphand Foods
8. Avanti Feeds
9. Purina Animal Nutrition
10. Guangdong Haid Group
11. EWOS
12. Zeigler Bros. Inc.

Recent Developments

• In May 2024, Bluejais B.V., a manufacturer and seller of specialty feed additives, announced that it would enter the aquaculture feed industry, marking a significant milestone in its commitment to future-friendly feeding aquaculture practices.

Segmentation

1. By Product Type
   1. Pellet Feed
   2. Extruded Feed
   3. Powder Feed
   4. Liquid Feed
2. By Species
   1. Fish (Salmon, Tilapia, Carp, Catfish, etc.)
   2. Crustaceans (Shrimp, Crab, etc.)
   3. Mollusks (oysters, mussels, etc.)
   4. Others
3. By Additives
   1. Amino Acids
   2. Vitamins & Minerals
   3. Probiotics & Prebiotics
   4. Enzymes
   5. Antioxidants
   6. Antibiotics
   7. Others
4. By Form
   1. Dry Feed
   2. Wet Feed
   3. Moist Feed
5. By Function
   1. Health Maintenance
   2. Digestibility Enhancement
   3. Palatability Enhancement
   4. Others
6. By Region
   1. North America
   2. Europe
   3. Asia-Pacific
   4. Latin America
   5. The Middle East and Africa