Aquafeed Market

The aquafeed market is expected to grow from USD 67.71 billion in 2026 to USD 97.12 billion by 2031, at a CAGR of 7.5%. Aquafeed plays an essential role in the aquaculture industry by providing essential nutrients to fish, crustaceans, and mollusks at different stages of their life cycles, such as growers, finishers, starters, and brooders. Key ingredients such as fishmeal and soybean meals are primary protein sources for nutritional feeds. Additives such as amino acids, vitamins & minerals, probiotics, and enzymes, among others, also enhance digestion, boost immunity, and provide nutritional support to aquatic species. Thus, feed formulations are tailored to improve feed conversion ratio, optimize growth efficiency, and ensure high survival rates for aquatic species.

Key trends in the industry include a shift toward alternative protein sources to reduce reliance on fish meal, as well as an increased focus on functional feed additives. These additives, such as prebiotics, probiotics, and other immune-boosting compounds, are becoming increasingly important for improving gut health and enhancing disease resistance. Furthermore, sustainability in the aquafeed industry is also shifting the fish growers to focus on eco-friendly feed production methods and the use of customized aquafeed formulations to enhance the feed efficiency and performance of aquatic species.

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Government policies and initiatives related to sustainable aquaculture techniques also fuel the development of advanced aquafeed products. For instance, in August 2024, the Norwegian government established a steering committee for an initiative to increase the rate of Norwegian-produced raw ingredients used in fish feeds. The authorities have set an ambitious target for 25% of the resources to be self-sourced by 2034, up from the current figure of just 8%. Such programs are expected to help producers at the local level, reduce the dependency of Norway on imported feed ingredients, and sustain aquaculture methods in a responsible way over the long term.

Some of the major companies in the aquafeed market are 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), and Norel Animal Nutrition (Spain).

Companies are adopting both organic and inorganic strategies to gain their market share. These include partnerships, mergers, capacity expansions, product launches, technology upgrades, and distribution agreements. The goal is to improve their product reach, strengthen supply chains, and meet rising demand for aquafeed solutions.

Leading companies are also investing in basic research, product testing, and industrial-scale processing improvements to increase feed purity, palatability, and compatibility with feed operations. New technologies such as precision nutrition, encapsulation, and digital aquaculture platforms are used to improve consistency and performance. With the growth of modern farming, e-commerce supply models, and contract feed manufacturing, top brands are expanding their aquafeed portfolios across all aquatic species to secure a stronger position in the global market.

Cargill, Incorporated (US)

Cargill, Incorporated is involved in the manufacturing and marketing of food, agricultural, financial, and industrial products & services. The company’s major business segments include food ingredients & applications; grain origination and oilseed processing; animal nutrition; and risk management and financial services. Cargill’s animal nutrition business offers a range of compound feed, premixes, feed additives, and supply chain & risk management solutions to feed manufacturers, animal producers, and feed retailers around the world. The company is one of the largest aquafeed suppliers and focuses on three core species, namely, salmon, tilapia, and shrimp.

The company has made a strategic choice to invest significantly in research and development to advance aquaculture nutrition. By dedicating more than 100 R&D professionals to this field, Cargill aims to develop more efficient and nutritionally optimized feeds for various fish species. This commitment enables the company to stay at the forefront of aquaculture innovation, introducing new products that enhance feed efficiency and improve overall fish health.

Nutreco (Netherlands)

Nutreco develops and produces animal nutrition and aquafeed products. It is a wholly-owned subsidiary of SHV Holdings (Netherlands), a diversified company operating in energy distribution, cash-and-carry wholesale, heavy lifting and transport activities, industrial services, animal nutrition and aquafeed, oil and gas exploration/development/production, and private equity. Headquartered in Utrecht, the Netherlands, SHV Holdings operates across Europe, North America, South America, Asia Pacific, and Africa.

Nutreco provides aquafeed products under its name on the SHV Holdings website. Two of the company’s global brands, Skretting (aquafeed) and Trouw Nutrition (animal nutrition), offer their products in over 90 countries.

Skretting produces and delivers high-quality, sustainable feed from hatching to harvest for more than 60 species of farmed fish and shrimp. Furthermore, the company provides feed additives under its Selko brand of Trouw Nutrition. Feed additives offered under the Selko brand include organic acids, organic minerals, betaine, and mycotoxin detoxifiers for ruminants, poultry, swine, and aquaculture.

In October 2025, Skretting launched Necto, a functional fish feed powered by EDGEOS PhytoComplexes, to safeguard fish health and welfare.

Market Ranking

The aquafeed market is growing due to increasing demand for quality feed ingredients and additives, and a rise in seafood trade. Aquatic animal growers, feed manufacturers, and agribusinesses want products that improve fish health, boost nutrient uptake, and enhance digestive performance. As the aquaculture industry has gradually paved the way for the increase in organized production of seafood products, the aquafeed market continues to expand. Product improvement, application-focused research, and geographic expansion are helping major companies strengthen their market position.

Key companies in the aquafeed market include 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), and others. These leading players leverage technological advancements, prioritize R&D, and strengthen supply chain networks to maintain a competitive edge. Their product range enhances digestibility and fat absorption, optimizing growth and performance in fish and shrimp.

At the same time, smaller as well as newer companies are reshaping competition with innovative aquafeed additives and feed-grade mixes. With lower market share but faster innovation, these companies bring fresh energy to the market. Their growth is expected to increase with investment in new processing units, field-level testing, branding activities, and digital marketing. All these are targeted at farmers and feed producers. They also benefit from rising demand in Asia Pacific and South America, where the adoption of modern farming practices is accelerating.

Related Reports:

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

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