Aquafeed Market

Aquafeed Market Size:

The global aquafeed market size reached USD 183.0 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 376.0 Billion by 2033, exhibiting a growth rate (CAGR) of 7.46% during 2025-2033. Asia-Pacific dominates the market, driven by innovations in feed formulations and increasing government support for aquaculture development. The rising global seafood demand, significant advancements in sustainable aquaculture practices, and high investments in research for production efficiency are some of the major factors fueling the growth of the market.

The aquafeed market is driven by the increasing implementation of commercial and intensive aquaculture techniques, necessitating nutritionally balanced and species-specific feeds to achieve optimal growth and production. Innovations in feed formulation, including extrusion methods, incorporation of probiotics, enzymes, and amino acids, are improving digestibility, water stability, and feed conversion efficiency, thus driving the demand. Heightened focus on sustainable and eco-friendly feed components, such as algae, insects, and plant-derived proteins, is transforming the industry, as manufacturers are aiming to lessen the dependence on fishmeal and fish oil. Government initiatives and supportive policies promoting aquaculture as a food security solution are further encouraging the utilization of formulated feeds. Additionally, climate change impacts on wild fisheries are accelerating the shift towards aquaculture, thereby bolstering the market growth.

Aquafeed Market Trends:

Rising demand for seafood consumption

The growing demand for seafood is a major driver of the market, as aquaculture is becoming vital to meeting user needs for protein-rich and healthy diets. As per the Food Outlook report for the 2024/2025 period, released by the Food and Agriculture Organization of the United Nations, the seafood production was projected to increase by 4.2 Million Tons, or 2.2%, reaching an overall total of 191 Million Tons in 2024, with 16.7 Million Tons expected to be used for feed purposes, indicating a 3.3% rise from 2023. With wild fish stocks declining due to overfishing and environmental pressures, aquaculture is emerging as the most reliable and sustainable source of seafood. This growth is driving the demand for nutritionally balanced aquafeed to ensure higher yields, better fish health, and consistent quality. People are also showing greater preferences for premium seafood products, which is leading farmers to use specialized feeds that enhance taste, texture, and nutritional content.

Rising investments in research and development (R&D) activities

High spending on R&D activities is enabling the creation of innovative, nutritionally balanced, and sustainable feed formulations that improve aquatic animal health and growth performance. In June 2024, ADM established a new R&D facility in Switzerland aimed at enhancing studies on animal microbiomes and creating customized products in the health and wellness sector for pets, livestock, and aquaculture. The center was set to utilize advanced scientific and technological instruments to enhance the firm’s comprehension of the gut microbiome's influence on overall animal health. R&D initiatives are focusing on optimizing feed conversion ratios, enhancing digestibility, and incorporating functional ingredients, such as probiotics, prebiotics, and enzymes, to strengthen immunity and reduce disease outbreaks. Additionally, research efforts are exploring alternative protein sources like algae, insect meal, and plant-based proteins to reduce reliance on traditional fishmeal and fish oil.

Expansion of retail channels

The broadening of retail outlets is positively influencing the market by creating new channels for distribution and increasing product accessibility for farmers. As per the IMARC Group, the global retail market size reached USD 30,092.3 Billion in 2024. The growth of organized retail, agro-stores, and online platforms is making a wide variety of aquafeed products available across both urban and rural regions. This broader availability is enabling fish and shrimp farmers to choose from different feed types, including floating, sinking, medicated, and specialty feeds tailored to specific species. Retailers also provide value-added services, such as bulk discounts, technical advice, and product demonstrations, which build trust and encourage adoption. In addition, branding and promotional activities in retail outlets are creating awareness about the benefits of high-quality feed over traditional or homemade alternatives.

Key Growth Drivers of Aquafeed Market:

Technological advancements

Technological advancements in feed formulations are offering a favorable market outlook. They aid in improving nutritional value, digestibility, and efficiency of feeds used in aquaculture. Modern techniques allow the development of species-specific diets tailored to meet the exact protein, fat, and micronutrient requirements of different fish and shrimp varieties. Innovations, such as extrusion technology, enhance pellet quality, water stability, and nutrient retention, leading to reduced wastage and better feed conversion ratios. Additionally, the incorporation of functional additives like enzymes, probiotics, and prebiotics strengthens immunity and growth performance. Digital tools and precision nutrition approaches also support customized feeding practices that optimize health and yield. These advancements are not only improving the profitability of aquaculture but also lowering the environmental footprint, making high-tech feed solutions a cornerstone of the industry’s long-term growth.

Rising demand for sustainable and eco-friendly feed ingredients

Increasing demand for sustainable and eco-friendly feed ingredients is bolstering the market growth, as environmental concerns and resource constraints are motivating the industry to innovate. Traditional reliance on fishmeal and fish oil is being supplemented or replaced by alternative protein sources, such as algae, insects, soy, and plant-based proteins, which are more sustainable and cost-effective. Farmers and feed manufacturers are prioritizing eco-friendly formulations that reduce pressure on marine ecosystems while maintaining nutritional balance. Regulatory pressures and user awareness about responsible seafood sourcing are also accelerating this shift towards greener solutions. In addition, sustainability certifications and eco-labeling are encouraging aquaculture producers to adopt environmentally responsible feeds to remain competitive in the global market. This growing focus on environmentally conscious practices ensures that sustainable feed ingredients play a central role in shaping the future of the industry.

Growing adoption of intensive aquaculture practices

Rising adoption of intensive aquaculture practices is strengthening the market, as higher stocking densities and commercial-scale fish farming require more sophisticated and nutritionally complete feed solutions. Intensive systems demand consistent growth, efficient feed conversion, and strong disease resistance, which cannot be achieved with traditional or low-quality feeds. As farmers are shifting towards high-output models to meet the rising demand for seafood, the use of scientifically formulated aquafeeds enriched with proteins, amino acids, and functional additives is becoming essential. These feeds ensure faster growth, improved survival rates, and enhanced productivity, thereby maximizing profitability. Intensive aquaculture also places pressure on water quality, making feeds with high digestibility and minimal waste more important. With aquaculture evolving into a technology-oriented industry, the reliance on specialized aquafeed is growing steadily, positioning it as the backbone of intensive fish and shrimp farming operations worldwide.

Aquafeed Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on species, ingredients, additives, and product form.

Breakup by Species:

• Carps
• Marine Shrimps
• Tilapias
• Catfishes
• Marine Fishes
• Salmons
• Freshwater Crustaceans
• Trout
• Others
   

Carps accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the species. This includes carps, marine shrimps, tilapias, catfishes, marine fishes, salmons, freshwater crustaceans, trout, and others. According to the report, carps represented the largest segment.

Carps are omnivorous and can adapt to a variety of feed types. Their aquafeed often includes plant-based ingredients like soybean meal, along with a moderate amount of protein and fats. Tilapia feed is generally plant-based with a balanced protein-to-fat ratio. Ingredients like corn, wheat, and soybean meal are common, and the protein content is usually moderate to match their herbivorous dietary needs. For instance, in February 2024, Aquasoja unveiled a new feed for tilapia and carp. The new aquafeed fulfills the nutritional requirements of both species, maintaining a focus on high-quality protein ingredients and fish health conditions.

Breakup by Ingredients:

• Soybean
• Corn
• Fish Meal
• Fish Oil
• Additives
• Others 

Soybean holds the largest share of the industry

A detailed breakup and analysis of the market based on the ingredients has also been provided in the report. This includes soybean, corn, fish meal, fish oil, additives, and others. According to the report, soybean accounted for the largest market share.

Soybean is a widely used plant-based protein source that is driving the market segment. It is rich in essential amino acids and is often included as an alternative or supplement to fishmeal. It is highly digestible and commonly used in feeds for herbivorous and omnivorous fish. Fish meal is made from processed fish or fish waste and is a high-quality source of animal protein and essential amino acids. It is commonly used in feeds for carnivorous and omnivorous fish, such as salmon and trout.

Breakup by Additives:

• Vitamins and Minerals
• Antioxidants
• Feed Enzymes
• Others

Vitamins and minerals represents the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the additives. This includes vitamins and minerals, antioxidants, feed enzymes, and others. According to the report, vitamins and minerals represented the largest segment.

Vitamins and minerals are essential nutrients that are added to aquafeed to promote health, growth, and development. Vitamins like A, D, and E, and minerals like zinc and selenium, are often included. These are crucial for metabolic processes, immune function, and bone development. Feed enzymes, such as protease, amylase, and phytase, are added to improve the digestibility of nutrients. They help break down complex molecules like proteins, carbohydrates, and phytate, thereby enhancing nutrient absorption and reducing waste.

Breakup by Product Form:

• Pellets
• Extruded
• Powdered
• Liquid

Pellets exhibits a clear dominance in the market 

A detailed breakup and analysis of the market based on the product form has also been provided in the report. This includes pellets, extruded, powdered, and liquid. According to the report, pellets accounted for the largest market share.

Pelleted feed is made by compressing a mixture of ingredients into small, cylindrical shapes. These pellets are easy to handle and can be made to float or sink, depending on the feeding habits of the species. Pellets are often used for larger fish and come in various sizes to match the size of the fish being farmed. Liquid feeds are nutrient-rich solutions used primarily for larval stages and filter-feeding species. They can be administered directly into the water or applied to another feed substrate. Liquid feeds are easier for small aquatic species to consume.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
  • Peru
  • Others 
• Middle East and Africa
  • Turkey
  • Saudi Arabia
  • Iran
  • United Arab Emirates
  • Others

Asia Pacific leads the market, accounting for the largest aquafeed market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, and others), and Middle East and Africa (Turkey, Saudi Arabia, Iran, the United Arab Emirates, and others). According to the report, Asia Pacific represents the largest regional market for aquafeed.

The increasing seafood consumption is driving the market growth across the Asia Pacific region. This is primarily due to population growth and rising health awareness, which is boosting the growth of the market. The rapid expansion of aquaculture industries in countries like China, India, and Vietnam boosts the demand for high-quality feed. Favorable government initiatives supporting sustainable aquaculture practices and substantial investments in research and development (R&D) further fuel market growth. Advancements in feed technology and the adoption of alternative protein sources like insect meal and algae enhance production efficiency and sustainability.

Competitive Landscape:

• The report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
• The competitive landscape of the aquafeed market is highly competitive with major players such as Nutreco, Cargill, and Alltech dominating. These players focus on innovative feed formulation and sustainable practices to maintain their market position. Emerging players like Biomar and Skretting are gaining traction through advanced research and development (R&D) and regional expansion. For instance, in February 2023, Norway-based global leader in aquafeed and nutrition, Skretting inaugurated its state-of-the-art aquafeed factory in Mangrol, Surat, Gujarat on India’s west coast. The new facility will further enhance its support for customers and the Indian aquaculture sector. Skretting is the global aquafeed division of Nutreco.

Aquafeed Market News:

• September 2025: BioMar, Innovafeed, and Auchan formed a partnership to incorporate insect protein into commercial shrimp feed on a large scale in Ecuador. By merging Innovafeed’s technology with BioMar’s aquafeed knowledge and Auchan’s retail dominance, sustainable shrimp farming could be economically feasible and ready for users.
• September 2025: African Aquaculture Company teamed up with AKVA Group to establish Africa's inaugural commercial sea-based salmon farming operation, outside Lüderitz, Namibia. Both firms customized the concept and technology to fit local circumstances. The strategy involved initiating operations with five floating pens, featuring mooring, feeding systems, cameras, and digital technologies.
• August 2025: Seafood Expo Global was set to showcase a new pavilion dedicated to aquaculture innovations, scheduled for April 21-23, 2026, at Fira de Barcelona's Gran Vía site in Barcelona, Spain. The pavilion would link organizations at the cutting edge of aquaculture technology, software, and equipment, alongside aquafeed, fish health, and welfare companies, with the international seafood sector.
• August 2025: BioMar introduced a new feeding solution designed for aquatic feeding systems. This innovative formulation provided salmon farmers with a pellet that operated more effectively within the specific environments of the modern farming systems.
• August 2025: Planktonic obtains USD 2.9 Million to accelerate worldwide growth of cryoplankton hatchery feed. The additional funding would enhance production, broaden facilities in Norway, and aid Planktonic’s global expansion in essential marine species.

Aquafeed Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the aquafeed market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global aquafeed market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the aquafeed industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.