Aquafeed Market Forecast: Global Industry Growth, Trends, and Opportunities Through 2031

The global aquafeed market is experiencing significant growth as aquaculture expands to meet rising demand for seafood and high-quality protein. Increasing fish and shrimp farming activities, advancements in feed formulation, and the growing emphasis on sustainable aquaculture practices are driving demand for nutritionally balanced aquafeed products. Manufacturers are increasingly investing in innovative feed ingredients, functional additives, and precision nutrition solutions to improve aquatic animal health, growth performance, and farm productivity.

According to MarketsandMarkets, the aquafeed market is projected to grow from USD 67.71 billion in 2026 to USD 97.12 billion by 2031, registering a compound annual growth rate (CAGR) of 7.5% during the forecast period. The market was valued at USD 63.10 billion in 2025. Rising seafood consumption and technological innovations in aquaculture are expected to support market expansion over the coming years.

Aquafeed Market Size and Forecast

The aquafeed industry is becoming increasingly important as aquaculture producers seek to improve production efficiency, optimize feed utilization, and maintain the nutritional quality of farmed aquatic species. Formulated aquafeed provides essential proteins, fats, vitamins, minerals, amino acids, and other nutrients required for healthy growth and development.

According to the latest MarketsandMarkets analysis, the global aquafeed market is forecast to expand steadily between 2026 and 2031.

Key aquafeed market statistics:

• Market size in 2025: USD 63.10 billion
• Market size in 2026: USD 67.71 billion
• Market forecast for 2031: USD 97.12 billion
• CAGR (2026–2031): 7.5%
• Base year: 2025
• Forecast period: 2026–2031
• Historical and forecast data: 2022–2031

The positive growth outlook reflects increasing aquaculture production, demand for specialized aquatic animal nutrition, and continued improvements in feed manufacturing and formulation technologies.

Key Factors Driving Aquafeed Market Growth

1. Rising Global Demand for Seafood

Growing consumer demand for fish, shrimp, and other seafood products is a major factor supporting the aquafeed market. Seafood is widely recognized as a source of high-quality protein and essential nutrients, encouraging aquaculture producers to expand farming operations and improve production efficiency.

As aquaculture becomes increasingly important to global seafood supply, demand for high-quality aquafeed is expected to increase. Feed manufacturers are developing species-specific formulations that support optimal growth, improve feed conversion ratios, and help farmers achieve consistent production outcomes.

2. Expansion of Commercial Aquaculture

The expansion and commercialization of aquaculture are creating significant opportunities for aquafeed manufacturers. Intensive fish and shrimp farming operations require reliable supplies of nutritionally balanced feed to maintain productivity and support aquatic animal health.

Modern aquaculture systems increasingly rely on scientifically formulated feeds tailored to different species and life stages. These formulations help farmers manage nutritional requirements more effectively while supporting growth performance and operational efficiency.

3. Increasing Adoption of Functional Feed Ingredients

Aquafeed manufacturers are incorporating functional ingredients, including probiotics, prebiotics, enzymes, amino acids, vitamins, and minerals, into feed formulations. These ingredients can support digestion, nutrient utilization, immunity, and overall aquatic animal health, depending on the formulation and species.

The growing focus on functional nutrition is encouraging innovation in premium aquafeed products. Feed manufacturers are also exploring specialized formulations designed to improve feed efficiency and support resilience against environmental and biological stressors.

4. Technological Advancements in Feed Formulation

Advances in feed processing, nutritional science, and aquaculture management are transforming the aquafeed industry. Improved formulation techniques enable manufacturers to optimize nutrient composition according to species-specific dietary requirements.

Precision feeding technologies and data-driven farm management can also help producers deliver appropriate feed quantities, reduce feed waste, and improve production efficiency. These developments are creating opportunities for manufacturers that offer technologically advanced and performance-oriented aquafeed solutions.

5. Growing Focus on Sustainable Aquaculture

Sustainability is becoming a central consideration for aquafeed manufacturers and aquaculture producers. Conventional ingredients such as fishmeal and fish oil face supply and cost pressures, encouraging the development of alternative protein and lipid sources.

Plant-based proteins, insect-derived ingredients, microbial proteins, and algae-based ingredients are being explored to diversify feed formulations and reduce dependence on selected marine resources. The commercial adoption of these ingredients will depend on nutritional performance, cost competitiveness, availability, and regulatory requirements.

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Aquafeed Market Segmentation Analysis

The global aquafeed market is segmented by ingredient, species, function, lifecycle, form, and region.

By Ingredient

Key ingredient categories include soybean, fishmeal, corn, fish oil, additives, and other ingredients. Fishmeal is estimated to account for the largest share of the market, representing 27.3% in 2026.

Fishmeal remains an important protein source in aquafeed formulations because of its nutritional characteristics and suitability for several aquatic species. However, sustainability concerns, raw material price fluctuations, and supply constraints are encouraging manufacturers to investigate alternative ingredients and improve formulation efficiency.

By Species

The market covers fish, crustaceans, mollusks, and other aquatic species. The fish segment is expected to hold a dominant market share, supported by the scale of finfish aquaculture and demand for formulated feed.

Shrimp and other crustacean farming also represent important areas of demand, particularly where commercial producers require specialized feeds to support growth, survival, and production efficiency.

By Form

Aquafeed is available in dry, wet, and moist forms. Dry feed is projected to register the highest CAGR of 7.8% during 2026–2031.

Its ease of storage and handling, consistent composition, and compatibility with automated feeding systems make it suitable for many commercial aquaculture operations.

By Lifecycle

Aquafeed products are formulated for different lifecycle stages, including starter, grower, finisher, and brooder feed. The grower feed segment is expected to register the highest growth rate during the forecast period.

As aquatic animals develop, their nutritional requirements change. Lifecycle-specific feed formulations help producers provide appropriate nutrients to support growth and development at different stages of production.

By Function

Functional segments include nutritional support, growth promotion, immunity support, texture and palatability, and other functions. Increasing demand for improved growth performance and aquatic animal health is encouraging the adoption of specialized feed formulations and functional additives.

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Regional Outlook: Asia Pacific Leads the Aquafeed Market

Asia Pacific is estimated to account for 63.7% of the global aquafeed market in 2026, making it the leading regional market. The region benefits from extensive aquaculture production, established feed manufacturing capabilities, and strong demand for farmed fish and seafood.

China is a major contributor to regional aquafeed demand because of its substantial aquaculture industry. Expanding fish and shrimp farming activities across Asia Pacific are expected to continue supporting demand for formulated aquafeed.

Other regions, including North America, Europe, and South America, also present opportunities as aquaculture producers invest in feed efficiency, specialized nutrition, and sustainable production practices. Regional growth will depend on aquaculture output, feed ingredient availability, farming technologies, and regulatory conditions.

Competitive Landscape of the Aquafeed Market

The global aquafeed market includes established animal nutrition companies and specialized aquafeed manufacturers competing through product innovation, formulation expertise, geographic reach, and distribution capabilities.

Key companies operating in the market include:

• ADM
• Cargill, Incorporated
• dsm-firmenich
• Nutreco
• Alltech
• Ridley Corporation Limited
• Purina Animal Nutrition LLC
• Adisseo
• Aller Aqua Group
• Avanti Feeds Limited
• The Waterbase Limited
• JAPFA LTD
• Charoen Pokphand Foods PCL
• BioMar Group
• Norel Animal Nutrition

Companies are focusing on specialized feed products, functional ingredients, sustainable sourcing, and improved nutritional performance to strengthen their competitive positions. Investments in research and development, manufacturing capabilities, and relationships with aquaculture producers are also important competitive factors.

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Opportunities in the Aquafeed Market

• Sustainable and Alternative Feed Ingredients: The development of alternative proteins and lipids presents opportunities for manufacturers seeking to reduce dependence on traditional marine ingredients. Innovations in ingredient processing and formulation could help improve sustainability while maintaining feed performance.
• Functional Nutrition and Aquatic Animal Health: Growing interest in digestive health, immunity, and disease resilience is creating opportunities for feeds incorporating probiotics, prebiotics, enzymes, amino acids, and other functional ingredients. Solutions that demonstrate measurable nutritional and production benefits may gain traction among commercial producers.
• Aquaculture Modernization: Investments in modern aquaculture facilities, automated feeding equipment, and precision farm management are increasing demand for consistent, technically advanced feed products. Manufacturers that align feed formulations with modern farming systems may be better positioned to serve commercial aquaculture operations.
• Growth in Emerging Aquaculture Markets: Expanding aquaculture production in developing markets creates opportunities for local feed manufacturing, improved distribution networks, and specialized products for fish and shrimp farmers. Market participants can benefit from solutions that balance nutritional quality, affordability, and local farming requirements.

Future Outlook for the Aquafeed Market

The aquafeed market is expected to maintain a positive growth trajectory through 2031 as aquaculture expands and demand for seafood continues to support investment in aquatic animal nutrition. The projected increase from USD 67.71 billion in 2026 to USD 97.12 billion by 2031 highlights the market's growing economic importance.

Future market development will be shaped by advances in feed formulation, the commercialization of alternative ingredients, functional nutrition, and precision feeding technologies. Asia Pacific is expected to remain the leading regional market, while dry feed and specialized lifecycle formulations are likely to offer attractive growth opportunities.

For manufacturers, ingredient suppliers, aquaculture producers, and investors, understanding changing nutritional requirements, sustainability priorities, and regional demand patterns will be essential to identifying opportunities in the evolving aquafeed industry.

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