Top Fishery By-products Companies

The fishery by-products market is estimated at USD 26.34 billion in 2025 and is projected to reach USD 37.46 billion by 2030, at a CAGR of 7.3% from 2025 to 2030. This market is a critical and evolving segment of the global seafood and aquaculture sectors. Fishery by-products are waste produced in the primary processing of seafood, usually not eaten directly by humans; examples include fish heads, bones, skins, scales, fins, viscera, shells, and trimmings. These by-products were thought of as waste but are now experiencing value again as raw materials to create high-value products. The process of converting these by-products into fishmeal, fish oil, fish protein hydrolysates, collagen, gelatin, chondroitin, biofertilizers, and even drugs is beginning to gain traction in both developed and emerging markets.

Top 10 Companies in the Fishery By-products Market

1. Scoular Company (US)
2. Austevoll Seafood ASA (Norway)
3. Maruha Nichiro Corporation (Japan)
4. Nippon Suisan Kais (Japan)
5. Sopropriache (France)
6. Thai Union Ingredients (Thailand)
7. Seagarden Group (Norway)
8. Lysi hf. (Iceland)
9. Hofseth Biocare AS (Norway)
10. Ashland (US)

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Some of the major players in the fishery by-products market with significant global presence are Pesquera Diamante Peru (Peru), Oceana Group Limited (South Africa), Scoular Company (US), Austevoll Seafood ASA (Norway), Maruha Nichiro Corporation (Japan), Nippon Suisan Kais (Japan), Sopropêche (France), and Thai Union Ingredients (Thailand). These players have incorporated various organic and inorganic growth strategies, including collaborations, acquisitions, product launches, partnerships, agreements, and expansions, to strengthen their international footprint and capture a greater share of the fishery by-products market.

TripleNine Group (Denmark)

TripleNine Group is an internationally regarded producer of marine-based ingredients. With a landmark focus on fishmeal and fish oil, it has built a powerful position as a supplier of marine by-products. These products are used in other areas of the feed, aquaculture, and pet food sectors. Over many decades, TripleNine has developed a significant profile on sustainability, traceability, and quality assurance to further support its customers throughout the full value chain.

TripleNine sources raw materials from fisheries that are predominantly sustainably managed. The company has a responsibility to consider the environmental elements that are in line with international sustainability standards defined by recognized categories like the Marine Optimization Council (MSC), regulatory bodies, and business plans for activities in other geographic areas (Danish and Norwegian suppliers). TripleNine operates efficiently and has a strong presence in various parts of the world (Denmark, Norway, Chile, and South Africa) and across various marine ecosystems to meet the expectations of a global customer base.

Maruha Nichiro (Japan)

Maruha Nichiro Corporation is a leading integrated fisheries and food company headquartered in Tokyo, Japan. With a rich history that dates back to 1880, the company has evolved into a global enterprise engaged in a diverse array of businesses across the marine products value chain. Its operations span fishing, aquaculture, processing, distribution, and food production, enabling it to deliver high-quality marine and processed food products to markets worldwide.

The company’s core business is procuring and processing marine products, including fish, shellfish, and other seafood. Maruha Nichiro operates an extensive network of fishing vessels and aquaculture farms across various geographies, ensuring a stable and sustainable supply of marine resources. The firm has also made significant investments in seafood processing technologies and cold chain logistics, enhancing its ability to meet global demand while maintaining product freshness and safety.

Biomega Group (Norway)

Biomega Group is a biotechnology-driven company specializing in the sustainable and high-value utilization of marine raw materials, primarily derived from salmon. Headquartered in Norway, the company is recognized for its advanced biorefining capabilities, which enable the transformation of fish side-streams into premium-grade ingredients for the pet food, human nutrition, and aquaculture markets. Through its proprietary enzymatic hydrolysis technology, Biomega produces high-quality salmon peptides, proteins, oils, and mineral products while maintaining a strong focus on sustainability, traceability, and innovation.

The company operates with a vertically integrated model, controlling the entire value chain from raw material sourcing to final product delivery. Its close proximity to the salmon industry in Norway ensures access to fresh and traceable raw materials, allowing Biomega to maintain strict quality and safety standards. By converting otherwise underutilized fish biomass into functional and bioactive ingredients, Biomega contributes to the circular economy and addresses growing global demands for sustainable protein alternatives.

Market Ranking

The fishery by-products market is competitive, with five leading players collectively holding 30–45% of the total market share. Companies are focusing on expanding their production facilities, entering into deals and partnerships, and launching products to grow their business and, in turn, their market share. For example, in early 2022, Biomega Group was awarded a multi-million-euro grant from the European Commission’s LIFE Programme to support the expansion of its new biorefinery in Hirtshals, Denmark. Under the three-year LIFE CONQUER initiative (running from September 1, 2022, through August 2025), the company will scale its enzymatic hydrolysis processes to produce high-quality salmon peptides and oils destined for human nutrition markets. This project emphasizes circular economy principles—including in-situ spray drying, optimized inbound logistics, reduced greenhouse gas emissions, and minimal bio-waste—by utilizing salmon side streams and bones in collaboration with ASC/MSC-certified Vega Salmon.

Related Reports:

Fishery By-products Market by Type (Protein & Protein Derivative, Fish Oil, Bioactives & Specialty Compound), Source (Marine, Aquaculture), End-user Industry (Food & Beverage, Animal Feed, Agriculture), Technology, & Region - Global Forecast to 2030

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