Aquafeed Market Trends, Growth, and Forecast [Latest]
Aquafeed Market by Ingredient (Soybean, Corn, Fishmeal, Fish Oil, Additives), Species (Fish, Crustaceans, Mollusks), Function (Nutrition, Growth Promoters, Immunity, Texture & Palatability), Lifecycle, Form, and Region - Global Forecast to 2031
OVERVIEW
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
The aquafeed market is projected to reach USD 97.12 billion by 2031 from USD 67.71 billion in 2026, at a CAGR of 7.5% from 2026 to 2031. The growth of this market is driven by an increase in demand for seafood and innovations in aquaculture technologies.
KEY TAKEAWAYS
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BY REGIONThe Asia Pacific region is estimated to account for 63.7% of the aquafeed market in 2026.
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BY INGREDIENTBy ingredient, the fishmeal segment is estimated to dominate the market with a share of 27.3% in 2026.
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BY FORMBy form, the dry segment is projected to witness the highest CAGR of 7.8% from 2026 to 2031.
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BY SPECIESBy species, the fish segment is expected to hold a dominant market share.
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BY LIFECYCLEBy lifecycle, the grower feed segment is expected to register the highest growth rate during the forecast period.
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COMPETITIVE LANDSCAPE - KEY PLAYERSADM, Cargill Incorporated, and dsm-firmenich were identified as some of the star players in the aquafeed market (global), given their global presence and strong product footprint.
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COMPETITIVE LANDSCAPE - STARTUPSBiostadt, De Heus Animal Nutrition, and BENEO, among others, have distinguished themselves among startups and SMEs by securing strong footholds in specialized niche areas, underscoring their potential as emerging market leaders.
The aquafeed market is expected to grow at a steady rate owing to the rapid expansion of the aquaculture industry and a growing preference for diverse and nutritious seafood options.
TRENDS & DISRUPTIONS IMPACTING CUSTOMERS' CUSTOMERS
Trends in the aquafeed market are increasingly driven by the incorporation of functional additives and amino acids. These ingredients enhance the nutritional profile of aquafeed, leading to improved growth rates and feed conversion efficiency in aquatic species. Additives like probiotics, prebiotics, and enzymes boost gut health and disease resistance, while essential amino acids support optimal protein synthesis and overall health. This advancement supports more sustainable and productive aquaculture operations.
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
MARKET DYNAMICS
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Rise in seafood trade
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Shift toward functional & specialty feeds
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Stringent safety regulations
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High cost of feed ingredients
Level
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Growing support from governments
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Development of innovative products as protein source
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Lack of awareness about modern feeding methods in developing countries
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Growth in environmental and human health concerns
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
Driver: Rise in seafood trade
The trade of fish and aquaculture products plays an integral role in boosting fish consumption and achieving a global market for aquaculture products by connecting various international suppliers and manufacturers.
Restraint: Stringent safety regulations
The regulatory environment significantly impacts the aquafeed market, primarily due to stringent standards and compliance requirements related to food safety, environmental protection, and sustainability.
Opportunity: Growing support from governments
The aquaculture industry is growing due to various government initiatives globally. In India, the Ministry of Agriculture is responsible for the planning, monitoring, and funding of centrally sponsored developmental schemes related to fisheries and aquaculture in all Indian states. It provides an opportunity for the aquaculture industry of India to focus on enhancing the aquaculture sector in the country.
Challenge: Lack of awareness about modern feeding methods in developing countries
The need for greater awareness about modern feeding methods in developing countries can be a restraint for the aquafeed market. Aquaculture, farming fish, and other aquatic organisms have become an increasingly important industry worldwide to meet the growing demand for seafood. However, the success of aquaculture largely depends on the availability and quality of aquafeed, which is the primary source of nutrition for farmed fish.
AQUAFEED MARKET TRENDS, GROWTH, AND FORECAST [LATEST]: COMMERCIAL USE CASES ACROSS INDUSTRIES
| COMPANY | USE CASE DESCRIPTION | BENEFITS |
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Avanti Feeds Limited recognized the need for a robust domestic aquafeed manufacturing ecosystem. It focused on building strong collaborations with East Asian countries like Taiwan and Thailand, leveraging their expertise in machinery and raw materials. | Avanti Feeds Limited's strategic initiatives led to transformative outcomes in the Indian aquafeed industry. By collaborating with East Asian countries, it secured reliable access to machinery and raw materials, reducing dependence on imports. |
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ADM developed Aquatrax, a specialty feed ingredient based on Pichia guilliermondii, a novel yeast with unique bioactive cell wall components. | The addition of Pichia guilliermondii led to significant gains in shrimp body weight, reflecting improved growth performance and productivity. |
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BioMar introduced a new functional feed designed to enhance the resilience of seabass against bacterial infections during vulnerable production periods. The formulation aims to improve fish health and reduce mortality linked to bacterial stressors in farmed seabass. | It contributes to better survivability and performance during high-risk bacterial challenge phases in aquaculture operations. |
Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.
MARKET ECOSYSTEM
The aquafeed ecosystem is categorized into manufacturers, regulatory bodies, and ingredient suppliers. The aquafeed market is a dynamic and rapidly expanding ecosystem characterized by diverse stakeholders and innovative products. Established companies and agile startups are central to this market, and they develop aquafeed products.
Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.
MARKET SEGMENTS
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
Aquafeed Market, By Igredient
Fishmeal has the capability to improve the overall efficiency of the feed and enhance the growth, palatability, nutrition uptake, digestion, and absorption of aquatic species.
Aquafeed Market, By Form
Dry feeds are mainly predominant due to the facility and convenience they provide over the other forms.
Aquafeed Market, By Species
The aquaculture industry includes a diverse range of fish species, each with its specific feed requirements. Different species have different nutritional needs, growth rates, and feed preferences. Therefore, a variety of specialized fish feeds are developed to cater to the specific requirements of various fish species, contributing to the value of the fish segment.
Aquafeed Market, By Lifecycle
Grower aquafeed meets the demand of aquatic species, switching to a more developed growth stage, normally containing 30–40% protein, which supports the continuity of development but synchronizes growth at reduced rates.
REGION
Asia Pacific to dominate global aquafeed market
Asia Pacific is estimated to hold the largest market share in 2026; this regional market is driven by China, a major producer of aquafeed. The huge market for different aquaculture products in China is further projected to drive the growth of the aquafeed industry in the country, subsequently driving the aquafeed market’s growth.
AQUAFEED MARKET TRENDS, GROWTH, AND FORECAST [LATEST]: COMPANY EVALUATION MATRIX
In the aquafeed market matrix, Cargill Incorporated and dsm-firmenich (Stars) lead with a moderate market share and extensive product footprint for aquafeed products, driven by their strong geographical presence, significant formulation and distribution capabilities, and strong ties with aquaculture farmers and hatcheries & seed production units. De Heus Animal Nutrition (Emerging Leader) is gaining visibility with its specialized aquafeed offerings, strengthening its position through strong product offerings.
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
KEY MARKET PLAYERS
- ADM (US)
- Cargill, Incorporated (US)
- dsm-firmenich (Switzerland)
- Nutreco (Netherlands)
- Alltech (US)
- Ridley Corporation Limited (Australia)
- Purina Animal Nutrition LLC (US)
- Adisseo (France)
- Aller Aqua Group (Denmark)
- Avanti Feeds Limited (India)
- The Waterbase Limited (India)
- JAPFA LTD (Singapore)
- Charoen Pokphand Foods PCL (Thailand)
- BioMar Group (Denmark)
- Norel Animal Nutrition (Spain)
MARKET SCOPE
| REPORT METRIC | DETAILS |
|---|---|
| Market Size in 2025 (Value) | USD 63.10 Billion |
| Market Forecast in 2031 (Value) | USD 97.12 Billion |
| Growth Rate | CAGR of 7.5% from 2026 to 2031 |
| Years Considered | 2022–2031 |
| Base Year | 2025 |
| Forecast Period | 2026–2031 |
| Units Considered | Value (USD Billion), Volume (KT) |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
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| Regions Covered | North America, Europe, Asia Pacific, South America, Rest of the World |
WHAT IS IN IT FOR YOU: AQUAFEED MARKET TRENDS, GROWTH, AND FORECAST [LATEST] REPORT CONTENT GUIDE
DELIVERED CUSTOMIZATIONS
We have successfully delivered the following deep-dive customizations:
| CLIENT REQUEST | CUSTOMIZATION DELIVERED | VALUE ADDS |
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| Europe-based aquafeed Manufacturers |
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| Aquafeed, Species Segment Assessment |
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RECENT DEVELOPMENTS
- February 2026 : BioMar launched a new functional seabass feed solution designed to support Mediterranean seabass health and reduce mortality from bacterial infections.
- October 2025 : Skretting introduced a next-generation range of its global shrimp feeds, Lorica and Optiline, featuring new EDGEOS PhytoComplexes to boost shrimp health, resilience, growth performance, and feed efficiency, while enhancing sustainability.
- December 2024 : Aller Aqua Group partnered with AquaRech to improve access to high-quality fish feeds for fish farmers across Kenya. This collaboration combines Aller Aqua’s expertise in premium feed production with AquaRech’s extensive Last Mile Distribution System, ensuring consistent supply and accessibility in key regions
Table of Contents
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Methodology
This study employed two primary approaches to estimate the current size of the aquafeed market. Exhaustive secondary research was carried out to collect information on the ingredient, form, lifecycle, species, and function (qualitative) segments of the market. The next step involved validating these findings, assumptions, and sizing with industry experts across the value chain through primary research. The top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, data triangulation was used to estimate the market size of segments and subsegments.
Secondary Research
This research study used extensive secondary sources—directories and databases such as Bloomberg Businessweek and Factiva—to identify and collect information for a technical, market-oriented, and commercial market study. In the secondary research process, sources such as annual reports, press releases & investor presentations of companies, white papers, aquafeed-related journals, certified publications, articles from recognized authors, directories, and databases were referred to to identify and collect information. Secondary research was mainly used to obtain key information about the industry’s supply chain, the pool of key players, and market classification and segmentation based on the industry trends to the bottom-most level, regional markets, and key developments from market- and technology-oriented perspectives.
Primary Research
Extensive primary research was conducted after obtaining information regarding the aquafeed market scenario through secondary research. Several primary interviews were conducted with market experts from the demand and supply sides across major countries of North America, Europe, Asia Pacific, South America, and the Rest of the World. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included various industry experts, such as chief experience officers (CXOs), vice presidents (VPs), directors from business development, marketing, research, and development teams, and related key executives from distributors and key opinion leaders.
Primary interviews were conducted to gather insights, including market statistics, revenue data from products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped to understand the various trends related to ingredient, form, lifecycle, species, function (qualitative), and region. Stakeholders from the demand side, including distributors, importers, exporters, and end-use sectors such as aquaculture producers, complete aquafeed manufacturers, and fish hatcheries that use aquafeed, were interviewed to understand the buyers’ perspective on suppliers, products, and the outlook for their business, which will impact the overall market.
Breakdown of Primary Interviews
Note: The three tiers of the companies are defined based on their total revenues in 2024 or 2025, based on the availability of financial data: Tier 1: Revenue >USD 1 billion; Tier 2: USD 100 million ≤ revenue ≤ USD 1 billion; Tier 3: Revenue <USD 100 million. Rest of the World includes Africa and the Middle East.
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COMPANY |
DESIGNATION |
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ADM (US) |
Regional Sales Manager |
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Cargill, Incorporated (US) |
Marketing Manager |
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Ridley Corporation Limited (Australia) |
General Manager |
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Nutreco (Netherlands) |
Sales Manager |
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Alltech (US) |
Sales Manager |
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Purina Animal Nutrition LLC (US) |
Sales Executive |
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
The top-down and bottom-up approaches were used to estimate and validate the total size of the aquafeed market. These approaches were also used extensively to determine the size of various subsegments in the market. The research methodology used to estimate the market size includes the following details:
- The key players in the industry and the overall markets were identified through extensive secondary research.
- All shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
- All possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain final quantitative and qualitative data.
- The research included the study of reports, reviews, and newsletters of top market players, along with extensive interviews for opinions from leaders, such as CEOs, directors, and marketing executives.
Aquafeed Market: Bottom-up and Top-down Approaches
Data Triangulation
After determining the overall market size from the estimation process explained above, the total market was split into several segments and subsegments. The data triangulation procedure was employed, wherever applicable, to estimate the overall aquafeed market and obtain precise statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. The market size was also validated using the top-down and bottom-up approaches.
Market Definition
Aquafeed comprises one or more artificial and/or natural feedstuffs in the form of pellets or extruded bits for aquatic animals—fish, crustaceans, and mollusks. The report focuses only on commercial aquafeed; farm-made aquafeed has been excluded from the study scope.
According to NOAA Fisheries, any food provided to aquatic farm animals is referred to as an aquafeed. To grow, fish (both farmed and wild) need a well-balanced mixture of vital nutrients such as vitamins, fatty acids, and amino acids. Utilizing feed ingredients that support sustainable growth in the aquaculture industry and preserve the specific blend of nutrients necessary for maintaining the health of fish and consumers is a critical aspect of sustainable aquaculture.
Key Stakeholders
- Supply-side: Aquafeed manufacturers, suppliers, distributors, importers, and exporters
- Feed additive manufacturers and traders
- Demand-side: Fish farmers, farmer organizations, and seafood processors
- Regulatory side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies
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Associations and industry bodies such as:
- Food and Agriculture Organization (FAO)
- International Feed Industry Federation (IFIF)
- International Fishmeal and Fish Oil Organization (IFFO)
- United States Department of Agriculture (USDA)
Report Objectives
- To determine and project the size of the aquafeed market based on ingredient, form, lifecycle, species, function (qualitative), and region, over five years, ranging from 2026 to 2031
- To identify the attractive opportunities in the market by determining the largest and fastest-growing segments across regions
- To provide detailed information about the key factors influencing market growth (drivers, restraints, opportunities, and challenges)
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the total market
- To identify and profile the key players in the market
- To understand the competitive landscape and identify the major growth strategies adopted by players across the key regions.
Available customizations:
With the given market data, MarketsandMarkets offers customizations according to company-specific scientific needs. The following customization options are available for the report:
PRODUCT ANALYSIS
Product matrix, which gives a detailed comparison of the product portfolio of each company.
GEOGRAPHIC ANALYSIS
With the given market data, MarketsandMarkets offers customizations according to company-specific scientific needs.
- Further breakdown of the Rest of Europe aquafeed market into key countries
- Further breakdown of the Rest of Asia Pacific aquafeed market into key countries
- Further breakdown of the Rest of South America aquafeed market into key countries
COMPANY INFORMATION
Detailed analyses and profiling of additional market players (up to five)
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Growth opportunities and latent adjacency in Aquafeed Market