Overview

The global Aquafeed Market was valued at USD 66 billion in 2025 and is projected to reach USD 113.4 billion by 2034, growing at a CAGR of 6.2% during the forecast period (2026–2034). The market is driven by rising farmed fish and shrimp output, faster adoption of commercial compound feed in Africa and South Asia, and growing demand for high-performance diets that improve feed conversion in salmon, shrimp, and tilapia farming. The market is shifting from conventional, low-cost, fishmeal-heavy formulations toward precision-formulated, sustainability-certified feeds. Producers are replacing a share of marine ingredients with insect meal, single-cell protein, and algal oil, while certification schemes such as the Aquaculture Stewardship Council feed standard and Best Aquaculture Practices feed mill certification push manufacturers to document ingredient origin. Government initiatives such as Kazakhstan's Ministry of Agriculture-backed construction of the country's first extruded aquafeed plant with 25,000 tonnes of annual capacity, and the European Union's authorization of insect-derived processed animal protein in aquafeed under Regulation (EU) 2017/893, are widening local feed production and opening new ingredient routes. Public support for hatcheries, feed mills, and fish farm financing across Asia, Africa, and the Middle East continues to move small farms from farm-made feed to commercial compound feed. By region, Asia-Pacific held the largest share of the market in 2025, led by China, India, Vietnam, and Indonesia, which together run the world's densest carp, tilapia, catfish, and shrimp farming base. Middle East & Africa is expected to be the fastest-growing region during the forecast period, as Egypt, Nigeria, Kenya, and Saudi Arabia add fish feed mills and move farms toward commercial compound feed.

Market Size & Share

Market Dynamics

KEY MARKET TREND

Fishmeal Replacement with Insect, Single-Cell, and Algal Proteins Emerging as a Transformational Trend

• Feed producers are lowering fishmeal and fish oil inclusion by adding insect meal, single-cell protein, and algal oil to extruded diets. Fishmeal prices swing sharply with anchovy catch cycles, so alternative proteins give formulators a steadier cost base and a smaller marine footprint across shrimp, salmon, and freshwater fish feed.
• Technology progress now centers on amino acid balancing, enzyme use, and extrusion settings that keep digestibility high at lower fishmeal levels. Feed trials on shrimp and trout have reported growth and feed conversion close to marine-based references, which builds farmer confidence in low-fishmeal and fish-free product lines across commercial farms.
• Certification frameworks are accelerating this shift. The Aquaculture Stewardship Council feed standard and Best Aquaculture Practices feed mill certification require documented ingredient origin, which pushes buyers toward formulations with traceable plant, insect, and microbial inputs. Retail seafood programs reinforce this pull by asking farms to show responsible feed sourcing to buyers.
• In November 2025, Skretting Vietnam and Entobel began commercial production of shrimp feed containing insect protein meal, described as the first commercial shrimp feed with insect meal in Vietnam. The partnership reduces reliance on marine ingredients and shows that insect inputs are moving from pilot batches into regular production lines.

KEY MARKET DRIVER

Rising Aquaculture Output and Growing Use of Commercial Compound Feed Is the Key Driver

• Feed is the biggest operating cost for fish and shrimp farmers, so every additional tonne of farmed output pulls through fresh demand for manufactured diets. Producers invest in feeds that shorten grow-out cycles and lift survival, which supports steady volume growth for manufacturers with strong technical service teams and wide dealer networks.
• Farm-made and wet feed still dominate small-scale systems in parts of South Asia, Southeast Asia, and Africa. As these farms intensify, they move to extruded compound feed that offers stable water performance and known nutrient levels, which lifts demand for factory-made products in markets where aquaculture is still developing across these regions.
• Rising seafood consumption, urban incomes, and export demand for shrimp, salmon, and pangasius are pushing farms toward higher stocking densities. Dense systems depend on precise feeding programs, so feed volume and feed value per tonne rise together, which benefits suppliers with species-specific product ranges. Suppliers with local mills gain share as buyers seek reliable partners.
• The FAO State of World Fisheries and Aquaculture 2026 report, released on 16 June 2026, shows that aquaculture of aquatic animals passed 100 million tonnes for the first time in 2024, reaching 103 million tonnes. Alltech's 2026 Agri-Food Outlook separately recorded aquaculture feed output of 55.47 million tonnes in 2025.

KEY MARKET OPPORTUNITY

Aquafeed Capacity Build-Out Across Africa and the Middle East Creating New Growth Avenues

• Fish farming in Africa and the Middle East still relies heavily on imported feed and farm-made diets. Local extruded feed mills close this gap by cutting freight costs and import dependence, giving farmers steady access to quality feed and giving manufacturers a long runway as commercial farms scale up across the region.
• Land-based recirculating systems, offshore cages, and large shrimp ponds in desert and coastal regions need high-protein, water-stable extruded diets. Feed makers with marine fish, shrimp, and tilapia ranges built for warm waters can serve these projects early and lock in multi-year supply contracts with large farm operators across the region.
• Investors see the region as attractive because seafood demand is rising while domestic supply stays short. Joint ventures between global feed groups and local agribusinesses spread capital risk, speed up plant approvals, and transfer formulation know-how, which creates a repeatable model for entering new national markets across Africa and the Gulf.
• Saudi Arabia's National Fisheries Development Program, run under the Ministry of Environment, Water and Agriculture, includes an initiative to build hatcheries, feed mills, and processing plants to reach 600,000 tons of fish production by 2030. The program also aims to attract local and foreign investment into aquaculture feed production across the Kingdom.

Aquafeed Market Size, 2025-2034 (USD Billion)

Segmentation Analysis

Analysis by Species

Carp held the largest market share in 2025 because it remains the most widely farmed finfish group worldwide, with large pond systems across China, India, Bangladesh, and Indonesia. Carp farming relies on affordable plant-based diets built on soybean meal, rice bran, and cereal grains, so feed demand scales with farmed volume rather than with price per tonne. Rising stocking densities, a gradual move from fertilized ponds to commercial feed, and wider use of floating extruded pellets in grow-out ponds are lifting tonnage each year. Public support for freshwater fish farming across Asia keeps this segment the volume anchor of the market.

Shrimp is projected to grow at the fastest CAGR during the forecast period because shrimp diets carry higher protein levels, premium ingredient costs, and the highest value per tonne among major species. Output is rising in Ecuador, India, Vietnam, and Indonesia as farms adopt higher stocking densities, better pond management, and genetic lines that need precise nutrition. Export demand from the United States, China, and Japan supports steady investment in new feed capacity, while disease pressure pushes farmers toward functional diets with probiotics, immune additives, and attractants. These factors raise both volume and revenue per tonne faster than in any other species group.

Species categories include

                 ·           Carp (Dominating Segment)

                 ·           Shrimp (Highest CAGR Segment)

                 ·           Tilapia

                 ·           Catfish

                 ·           Salmon

                 ·           Trout

                 ·           Others

Analysis by Ingredient

Soybean meal held the largest market share in 2025 because it is the most cost-effective protein source available at scale for fish and shrimp diets. Its amino acid profile, wide supply from Brazil, the United States, and Argentina, and steady price relative to fishmeal make it the base protein in carp, tilapia, and catfish diets and a growing share of shrimp and salmon formulations. Feed mills have refined processing, including soy protein concentrates and enzyme treatment, which reduce anti-nutritional factors and allow higher inclusion levels. As producers aim to limit exposure to fishmeal price swings, soybean-based formulas keep gaining share across all regions.

Alternative proteins are projected to grow at the fastest CAGR during the forecast period because feed makers want protein sources that are independent of wild fish supply and carry a lower carbon footprint. Insect meal, single-cell protein, microalgae, and microbial biomass are moving from trials to commercial feed lines as production plants scale up and feed regulators in major markets clear their use. Premium shrimp and salmon feeds lead early adoption, since buyers in these segments accept higher ingredient prices in return for sustainability claims. Falling production costs and expanding plant capacity are expected to broaden adoption into mainstream diets.

Ingredient categories include

                 ·           Soybean Meal (Dominating Segment)

                 ·           Alternative Proteins (Highest CAGR Segment)

                 ·           Fish Meal

                 ·           Fish Oil

                 ·           Cereal Grains

                 ·           Others

Analysis by Additive

Amino acids held the largest market share in 2025 because modern fish and shrimp diets depend on synthetic methionine, lysine, and threonine to balance plant-based proteins. As formulators cut fishmeal inclusion, these additives restore the amino acid profile that carnivorous and omnivorous species need for growth, so inclusion levels rise with each fishmeal reduction step. Large-scale production by global additive suppliers keeps prices stable and supply reliable. Taurine and other functional amino acids add further value in low-fishmeal salmon and marine fish diets, which keeps amino acids the most widely used additive class in commercial aquafeed.

Probiotics are projected to grow at the fastest CAGR during the forecast period because farmers want to protect gut health and reduce disease losses without relying on antibiotics. Shrimp and tilapia farmers in Asia and Latin America use probiotic-enriched feed and pond treatments to improve survival, nutrient uptake, and water quality. Feed makers are adding spore-forming Bacillus strains that remain stable through extrusion and storage, which widens use across feed types. Tighter limits on antibiotic use on export-focused farms and rising demand for residue-free seafood are expected to keep this segment ahead of other additive classes.

Additive categories include

                 ·           Amino Acids (Dominating Segment)

                 ·           Probiotics (Highest CAGR Segment)

                 ·           Vitamins

                 ·           Minerals

                 ·           Enzymes

                 ·           Antioxidants

                 ·           Others

Analysis by Life Stage

Grower feed held the largest market share in 2025 because it covers the longest and heaviest feeding period in a farm cycle, from juvenile fish to near-market size. Most feed tonnage is consumed during this phase, as fish and shrimp reach their highest daily intake relative to body weight. Producers therefore focus procurement budgets on grower diets and weigh price, feed conversion, and pellet water stability carefully. Large extruded production lines in China, Vietnam, Indonesia, Norway, and Chile are built mainly for grower products, which keeps this life stage the volume leader across species and regions.

Starter feed is projected to grow at the fastest CAGR during the forecast period because early life stages decide survival, growth uniformity, and disease resilience for the entire crop. Farms and hatcheries are willing to pay premium prices for micro-pellets, crumbles, and larval diets that improve early survival, since small gains at this stage multiply across the full grow-out cycle. Expansion of hatchery capacity for shrimp, salmon, tilapia, and marine fish, together with new nursery feed lines from major suppliers, supports faster growth. Rising adoption of intensive nursery systems adds further momentum.

Life Stage categories include

                 ·           Grower Feed (Dominating Segment)

                 ·           Starter Feed (Highest CAGR Segment)

                 ·           Finisher Feed

                 ·           Broodstock Feed

By Region

Aquafeed Market Regional Analysis

Aquafeed Market Share 2025, (CAGR)

North America

XX%

South America

XX%

Europe

13%

Middle East Africa

XX%

Asia Pacific

63%

Regional Analysis

Asia-Pacific held the largest market share in 2025, accounting for 63% of global market value, as Asia produced 38.017 million metric tons of aquaculture feed, about 68.5% of world output, according to Alltech's 2026 Agri-Food Outlook. China leads the region through its large carp, tilapia, and shrimp farming base and its extensive network of feed mills, while India is expanding shrimp and freshwater fish feed capacity as farms move from farm-made feed to commercial diets. Vietnam and Indonesia, covered under Rest of Asia-Pacific, add pangasius and vannamei shrimp demand, and Japan and South Korea sustain demand for high-value marine fish diets. Regional feed makers also compete on price, which keeps the competitive landscape broad.

Middle East & Africa is projected to grow at the fastest CAGR during the forecast period, as Africa's aquaculture feed output rose 27.5% in 2025, the fastest rise among all regions according to Alltech's 2026 Agri-Food Outlook, and the Middle East continues to add farm capacity. Egypt remains the region's established tilapia and mullet feed base, Nigeria and Kenya are building commercial catfish and tilapia feed supply, and Saudi Arabia is developing shrimp and marine fish farming with local feed mills. Because the region started from a low base of compound feed use, each new extruded feed plant adds a visible share of regional demand, while local production keeps feed costs competitive for farmers.

Countries and Regions Covered

Asia-Pacific (Dominating Region)

o    China (Largest Country Market)

o    India (Fastest-Growing Country Market)

o    Japan

o    South Korea

o    Rest of Asia-Pacific

North America

o    United States (Largest Country Market)

o    Canada

o    Mexico

Europe

o    Germany

o    France

o    United Kingdom

o    Italy

o    Rest of Europe (Largest Country Market)

Latin America

o    Brazil

o    Chile

o    Rest of Latin America (Largest Country Market)

Middle East & Africa (Fastest-Growing Region)

o    Saudi Arabia (Fastest-Growing Country Market)

o    United Arab Emirates

o    Rest of Middle East & Africa (Largest Country Market)

Market Share

The Aquafeed Market is consolidated at the global level, with a handful of multinational groups supplying most salmon, shrimp, and premium marine fish feed, while carp, tilapia, and catfish feed stays fragmented across hundreds of national and regional mills. Competition centers on feed conversion performance, ingredient sourcing, technical service, and local production capacity. Key success factors include species-specific formulation, access to stable protein and oil supply, certified production sites, and the ability to serve farms from hatchery to harvest. Leading companies are prioritizing capacity additions in Ecuador, China, Vietnam, and Africa, investment in insect, microbial, and algal ingredients, and digital feeding tools. Joint ventures with local partners and full buyouts of regional subsidiaries are common routes to scale.

Key Players

                 ·           Skretting (Norway)

                 ·           Cargill, Incorporated (US)

                 ·           BioMar Group (Denmark)

                 ·           Tongwei Co., Ltd. (China)

                 ·           Guangdong Haid Group Co., Limited (China)

                 ·           Charoen Pokphand Foods PCL (Thailand)

                 ·           De Heus Animal Nutrition (Netherlands)

                 ·           Vitapro (Ecuador)

                 ·           Aller Aqua (Denmark)

                 ·           Alltech Coppens (Netherlands)

                 ·           Avanti Feeds Limited (India)

                 ·           Godrej Agrovet Limited (India)

                 ·           Feed One Co., Ltd. (Japan)

                 ·           Dibaq Aquaculture (Spain)

                 ·           Zeigler Bros., Inc. (US)

Recent Market Developments

• In February 2026, BioMar acquired the remaining 30% shareholding in BioMar Ecuador, giving it full ownership of its shrimp feed business in the country, and announced plans to lift capacity at the Ecuador facility from 300,000 tonnes to 410,000 tonnes during 2026. The move adds supply in the world's leading shrimp farming hub, where feed demand has grown quickly.
• In February 2026, BioMar announced a second production line at its Wuxi plant in China, run through its joint venture with Tongwei, adding 50,000 tonnes of capacity with commissioning planned for the first quarter of 2027. The line will produce nursery feeds and diets for Japanese eel, grouper, and mandarin fish, widening the range of high-value species served in China.
• In February 2026, The Skretting-managed Tunga joint venture opened a new aquafeed plant in Nairobi, Kenya, raising capacity from 24,000 metric tons to 45,000 metric tons and adding extrusion technology. The plant is expected to serve Kenya, Uganda, Tanzania, Rwanda, and neighboring markets, supporting the shift from farm-made feed to commercial fish feed in East Africa.
• In July 2026, De Heus opened a new fish feed mill in Vinh Long Province, Vietnam, dedicated to marine and cold-water species such as barramundi and sea bass, with capacity of up to 168,000 metric tons a year. The mill operates to Aquaculture Stewardship Council, Best Aquaculture Practices, and ISO 22000 standards and expands certified supply for higher-value farmed fish.

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