Aquafeed Market Size & Outlook, 2025-2033

Aquafeed Market Overview

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). The growth of the market is attributed to escalating demand for seafood

Key Market Indicators

• Asia-Pacific dominated the aquafeed industry in 2024, accounting for over 73% of global revenue share, driven by large-scale aquaculture in China, India, Vietnam, and Indonesia.
• Based on product Type, the Pellet Feed segment led the market in 2024 with a share of around 65%, owing to its stability, nutrient balance, and compatibility with automated feeding systems.
• Based on species, the Fish segment led the market in 2024, with carp, tilapia, and salmon being the top contributors. Carp alone accounted for nearly 23% of global demand, making fish the dominant species category.
• Based on additives, the Amino Acids segment led the market in 2024, representing about 28% share, as lysine and methionine supplementation plays a vital role in protein synthesis and feed efficiency.
• Based on form, the Dry Feed segment led the market in 2024 with a share of around 68%, supported by its long shelf life, easy storage, and high adoption in commercial aquaculture farms.
• Based on function, the Health Maintenance (Functional Aquafeeds) segment led the market in 2024, valued at USD 52.1 billion and projected to grow at a CAGR of 6.8% (2024–2034), fueled by the increasing use of probiotics, prebiotics, and immunostimulants.

Market Size & Forecast

• 2024 Market Size: USD 67.50 Billion
• 2033 Projected Market Size: USD 112.27 Billion
• CAGR (2025–2033): 6.71%
• Largest market in 2024: Asia-Pacific
• Fastest-growing region : North America

Auafeed refers to specialized feed formulations designed for aquatic animals such as fish, crustaceans, and mollusks. These feeds are engineered to provide essential nutrients, including proteins, lipids, vitamins, minerals, and additives, promoting optimal growth, health, and production efficiency in aquaculture operations. The global market refers to the industry producing, distributing, and consuming specially formulated feed for aquatic species such as fish, crustaceans, mollusks, and other marine organisms cultivated in aquaculture systems.

The market's growth is primarily driven by the increasing global demand for seafood, which has led to the expansion of aquaculture activities. As wild fish stocks decline and the global population rises, aquaculture has become a vital source of seafood, necessitating the development of high-quality aquafeed to ensure sustainable and efficient production. Additionally, advancements in feed formulations, including incorporating alternative protein sources and additives to enhance nutritional value and disease resistance, present significant opportunities for market expansion. For instance, using plant-based proteins and insect meals as sustainable alternatives to traditional fishmeal is gaining traction, addressing environmental concerns and resource limitations.

Latest Market Trends

Integration of Functional and Nutritional Enhancements in Aquafeed

The aquafeed industry increasingly integrates functional and nutritional enhancements into feed formulations to improve aquatic animal health, optimize growth performance, and reduce environmental impact. Feed manufacturers focus on developing high-performance aquafeed enriched with probiotics, prebiotics, amino acids, and omega-3 fatty acids to boost fish immunity, enhance nutrient absorption, and reduce antibiotic dependency.

• For example, in February 2024, BioMar launched a high-performance feed formula containing bioactive peptides, improving disease resistance in farmed salmon and shrimp.

This innovation aligns with the rising adoption of precision feeding strategies that ensure efficient nutrient utilization while minimizing waste. According to an FAO 2024 report, functional feed adoption has increased by 15% in the past three years, significantly reducing antibiotic reliance and enhancing fish survival rates. As sustainability concerns intensify, functional aquafeed solutions are expected to play a crucial role in shaping the future of the aquaculture industry.

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Aquafeed Market Growth Factors

Escalating Demand for Seafood

The escalating demand for seafood primarily drives the rapid expansion of the global aquaculture industry. As global populations grow and dietary preferences shift toward protein-rich and heart-healthy food sources, fish and seafood consumption continues to surge. Consumers are increasingly aware of the health benefits associated with seafood, such as its high omega-3 content, lean protein, and essential nutrients that support cardiovascular and cognitive health.

• For example, in June 2024, according to the Food and Agriculture Organization (FAO) report, global seafood consumption is projected to reach 180 million metric tons by 2030, with aquaculture accounting for over 60% of the supply.

This growing demand necessitates a steady increase in aquaculture production, which, in turn, fuels the need for high-quality aquafeed. Innovations in feed technology, including enzyme-supplemented diets and algae-based alternatives, further enhance fish growth rates while maintaining sustainability.

Restraining Factors

Volatility of Raw Material Prices

Despite the positive outlook, the global market faces challenges such as the volatility of raw material prices, particularly fishmeal and fish oil, which are traditional components of aquafeed. Fluctuations in supply due to overfishing and environmental factors can lead to increased production costs. For instance, the El Niño phenomenon in 2024 has significantly impacted fishmeal production in Peru, a leading exporter of fishmeal. Reports indicate that fishmeal prices have surged by 20% since early 2024, creating challenges for aquafeed manufacturers.

Moreover, concerns regarding the environmental impact of sourcing these materials have prompted regulatory scrutiny and the need for sustainable alternatives. Developing and adopting such alternatives may require significant investment and time, restraining immediate market growth. To counter this issue, leading aquafeed producers are focusing on ingredient diversification.

Key Market Opportunities

Advancements in Feed Additives and Formulations

Advancements in feed additives and formulations present substantial opportunities within the market. Incorporating probiotics, prebiotics, and immunostimulants into aquafeed can enhance aquatic species' health and growth performance, leading to more efficient production systems. Companies are investing in research to develop feeds that improve nutrient absorption and reduce environmental waste.

• For example, in January 2025, Cargill launched a new aquafeed containing probiotic strains designed to enhance gut health in farmed fish, improving feed conversion ratios and overall productivity.

Additionally, exploring novel ingredients, such as algae-based omega-3 fatty acids, can replace traditional fish oil, addressing sustainability concerns and catering to the growing demand for eco-friendly aquaculture practices. Government initiatives are also supporting innovations in feed formulations. The U.S. Department of Agriculture (USDA) introduced a funding program in mid-2024 to support research on sustainable aquafeed ingredients, with grants allocated to projects focusing on alternative protein sources and feed efficiency improvements.

Regional Analysis

Asia-Pacific is the dominant region in the global market, driven by extensive aquaculture activities in countries like China, India, Vietnam, and Indonesia. The area benefits from favorable climatic conditions, abundant water resources, and a long history of fish farming practices. China's aquaculture industry, for instance, is the largest globally, significantly contributing to the demand for aquafeed. The government's supportive policies, such as subsidies and technological assistance, have further propelled the sector's growth.

In India, initiatives like the Blue Revolution aim to enhance fish production and productivity, indirectly boosting the global market. The region's notable trends are the emphasis on sustainable aquaculture practices and the adoption of advanced feed technologies. Companies like Charoen Pokphand Foods have established a strong presence in Asia-Pacific, offering a wide range of aquafeed products tailored to local species and farming conditions. India’s aquafeed market is growing rapidly, fueled by the government’s Pradhan Mantri Matsya Sampada Yojana (PMMSY), which aims to double the country’s fish production by 2025. India’s focus on reducing feed costs while maintaining nutrition standards has led to increased research into alternative protein sources like insect-based feeds. The country’s rapidly expanding shrimp export industry further boosts demand for high-quality aquafeed.

China: As the world's largest aquaculture producer, China dominates the global market, with continued government support and investment in high-quality feed development. The Ministry of Agriculture and Rural Affairs announced new regulations in 2024 to reduce antibiotic use in aquafeed, emphasizing probiotics and organic feed additives. Additionally, China’s push toward smart aquaculture has increased the adoption of automated feeding systems, driving further demand for pellet and extruded feeds.

North America Aquafeed Market Trends

North America is experiencing rapid growth in the global market, attributed to the increasing adoption of aquaculture to meet the rising demand for seafood and reduce dependence on imports. The United States and Canada are at the forefront, with significant investments in research and development to enhance feed efficiency and sustainability.

The U.S. aquafeed market is positioned for growth, driven by a stable increase in aquaculture production. Federal support through programs by NOAA and USDA to enhance sustainable practices and technological innovation stimulates market growth. The U.S. aquafeed market is experiencing significant growth due to the expansion of aquaculture as an alternative to overfishing and seafood imports. The U.S. Department of Agriculture (USDA) has launched initiatives supporting sustainable aquaculture production, including funding research to enhance feed efficiency and reduce environmental impact. Additionally, the expansion of salmon farming in states like Maine and Washington has driven demand for high-performance feeds, with companies investing in research to improve fish nutrition and health.

In Canada, the government's Fisheries and Aquaculture Clean Technology Adoption Program (FACTAP) provides funding to encourage the adoption of clean technologies in aquaculture, including innovations in feed production and usage. Such initiatives not only support environmental sustainability but also enhance the competitiveness of the market in North America.

Germany Aquafeed Market Trends

Germany is leading Europe in sustainable aquafeed innovation, focusing on environmentally friendly ingredients and reduced reliance on fishmeal. The German government also funds the Blue Economy Initiative projects to boost aquaculture sustainability. Additionally, Skretting, a major aquafeed producer, collaborates with local fish farmers to adopt low-carbon feed alternatives, reinforcing Germany’s position in sustainable aquafeed advancements.

Norway, a leading player in the global salmon farming industry, is focusing on sustainability in aquafeed. The Norwegian government is also supporting innovations in feed efficiency through funding programs under the Research Council of Norway. Major aquafeed companies are exploring carbon-neutral production methods to enhance Norway’s leadership in sustainable aquaculture.

Brazil’s aquafeed market is expanding, driven by increasing tilapia production and government incentives to boost the aquaculture sector. The Ministry of Agriculture has introduced policies promoting sustainable feed ingredients, and Nutreco is investing in local production facilities to cater to rising domestic demand.

Market Segmentation

Product Type Insights

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. The uniformity of pellets ensures consistent feeding, reducing waste and promoting efficient growth among aquatic species. Companies like Cargill have been at the forefront, developing advanced pellet formulations that enhance digestibility and nutrient absorption. The increasing adoption of automated feeding systems in aquaculture farms further drives the demand for pellet feed, as it integrates seamlessly with such technologies.

Species Insights

Fish farming dominates the aquaculture industry, with species such as salmon, tilapia, and carp being the primary consumers of aquafeed. The rising global demand for fish protein has intensified aquaculture practices, necessitating high-quality feed to ensure optimal growth rates and health. For instance, BioMar Group has developed specialized feeds tailored to the nutritional requirements of different fish species, incorporating sustainable ingredients to reduce environmental impact.

Additives Insights

Amino acids are crucial aquafeed additives and essential for aquatic animals' growth and metabolic functions. The inclusion of amino acids like lysine and methionine enhances protein synthesis, improving feed efficiency and growth performance. According to market reports, the additives segment, particularly amino acids, is predicted to grow at the highest CAGR in the global market, driven by fish growers' inclination toward high-quality feed.

Form Insights

Dry Feed, including pellets and crumbles, is preferred for its longer shelf life and ease of handling. Its popularity is attributed to the convenience it offers in storage and transportation, as well as its compatibility with automated feeding systems. The development of extruded dry feeds has further improved water stability and nutrient retention, making it a favored choice among aquaculturists.

Function Insights

Functional feeds designed for health maintenance are gaining traction as they incorporate additives like probiotics, prebiotics, and immunostimulants to enhance disease resistance and the overall health of aquatic species. This approach reduces reliance on antibiotics and aligns with the industry's move toward sustainable and responsible aquaculture practices. Companies are investing in research to develop feeds that promote growth and bolster farmed species' immune systems.

Company Market Share

The global market is highly competitive, with companies focusing on innovation and expansion. Cargill, BioMar, and Skretting dominate the industry, with emerging players investing in specialized feed formulations. Avanti Feeds has gained a strong presence in India, benefiting from the country’s aquaculture growth.

Recent News: In January 2025, Cargill announced a $50 million investment in aquafeed R&D, focusing on sustainable protein sources.

List of key players in Aquafeed Market

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.

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Recent Developments

• September 2025: BioMar announced a partnership with Innovafeed and Auchan to integrate insect protein on a large scale into commercial shrimp feed in Ecuador. This R&D and commercial collaboration demonstrates that insect meal is a viable functional ingredient for shrimp feed, reducing dependence on wild-caught fish.
• July 2025: Skretting has partnered with Andfjord Salmon to develop an innovative feed specifically for Andfjord's closed aquaculture systems (CAS). This R&D collaboration aims to optimize the synergy between biology and technology to enhance the potential of Atlantic salmon in land-based systems.
• June 2025: Cargill has decided to exit the aquafeed sector in Vietnam. The company is closing its two aquafeed plants and an aquaculture technology application center in the country as part of a global restructuring plan to focus on other selected markets and livestock segments.

Analyst Opinion

As per our analysis, the global aquafeed market is witnessing robust growth, driven by increasing aquaculture production, technological advancements, and sustainability initiatives. The demand for high-protein, cost-effective, and environmentally sustainable feed solutions is shaping the market landscape. Asia-Pacific remains dominant, led by China and India, while North America and Europe focus on sustainability and regulatory improvements. The trend toward plant-based, insect-derived, and omega-3-rich feed alternatives is gaining momentum, driven by consumer preferences for sustainable seafood.

However, challenges such as fluctuating raw material prices, regulatory barriers, and disease outbreaks in farmed species pose risks to market expansion. Overcoming these hurdles will require continued investment in R&D and collaborations between governments and key industry players.