Aquafeed Market Introduction
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. As aquaculture expands and small farms move from farm-made feed to commercial compound feed, the aquafeed industry is growing in both volume and value. Access the Full Market Report: https://www.igtps.com/report/aquafeed-market?P03
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.
According to IG Transformation Partners (IGTPS), the global aquafeed market was valued at USD 66 billion in 2025. It is projected to reach USD 113.4 billion by 2034, growing at a CAGR of 6.2% from 2026 to 2034. The Aquafeed Market report from IGTPS covers the full forecast, segmentation and competitive picture.
This article explains what the market includes, how large it is, what is driving it, where the risks sit and what the findings mean for feed producers, ingredient suppliers, farmers and investors.
What Is the Aquafeed Market?
The aquafeed market covers nutritionally complete compound diets made for farmed fish, shrimp and other aquatic species. It includes starter, grower, finisher and broodstock feed supplied to hatcheries and grow-out farms.
The market is shifting from 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. Certification schemes such as the Aquaculture Stewardship Council feed standard and Best Aquaculture Practices feed mill certification push manufacturers to document ingredient origin.
Aquafeed Market Size, Share and Forecast
The market was valued at USD 66 billion in 2025 and is expected to reach USD 70.1 billion in 2026. IGTPS projects USD 113.4 billion by 2034, a CAGR of 6.2% for 2026 to 2034. The study period runs from 2021 to 2034.
Asia-Pacific is the largest region, holding 63% of global market value in 2025, while Europe held 13%. Middle East and Africa is the fastest-growing region. By species, carp is the largest segment and shrimp is the fastest-growing. Soybean meal is the largest ingredient, and alternative proteins are the fastest-growing.
Policy is widening local production and ingredient routes. Kazakhstan’s Ministry of Agriculture backed construction of the country’s first extruded aquafeed plant, with 25,000 tonnes of annual capacity. The European Union authorized insect-derived processed animal protein in aquafeed under Regulation (EU) 2017/893. Public support for hatcheries, feed mills and fish farm financing across Asia, Africa and the Middle East continues to move small farms to commercial compound feed.
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Key Market Trends and Developments
Fishmeal Replacement with Insect, Single-Cell and Algal Proteins
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.
Technology progress 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.
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. Insect inputs are moving from pilot batches into regular production lines.
Certification and Traceability
The Aquaculture Stewardship Council feed standard and Best Aquaculture Practices feed mill certification require documented ingredient origin. This pushes buyers toward formulations with traceable plant, insect and microbial inputs. Retail seafood programs reinforce the pull by asking farms to show responsible feed sourcing.
Functional Diets and Health
Disease pressure is pushing farmers toward functional diets with probiotics, immune additives and attractants, especially in shrimp.
Local Production Capacity
Feed makers are adding capacity in Ecuador, China, Vietnam and Africa, and are investing in insect, microbial and algal ingredients and digital feeding tools.
Market Growth Drivers
Rising Aquaculture Output
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.
Shift from Farm-Made to Commercial Compound Feed
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.
Seafood Demand and Higher Stocking Densities
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.
Government and Investor Support
Public programs for hatcheries, feed mills and farm financing support the transition to commercial feed and local production.
Market Restraints and Challenges
- Ingredient price volatility: Fishmeal prices swing sharply with anchovy catch cycles, which affects formulation costs.
- Cost of alternative proteins: Premium shrimp and salmon feeds lead early adoption because buyers accept higher ingredient prices for sustainability claims, while mainstream diets need lower production costs.
- Certification and documentation burden: Standards require documented ingredient origin and certified production sites.
- Disease pressure: Outbreaks raise feed costs through functional additives and attractants, and limits on antibiotic use add pressure on export-focused farms.
- Low starting base in developing regions: Farm-made feed still dominates in parts of South Asia, Southeast Asia and Africa, and conversion takes time.
- Price competition: Regional feed makers compete on price, which keeps margins tight in carp, tilapia and catfish feed.
Market Opportunities and Future Outlook
Aquafeed Capacity Build-Out in Africa and the Middle East
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. 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, while aiming to attract local and foreign investment into aquaculture feed production.
Warm-Water and High-Value Farming Projects
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.
Joint Ventures with Local Partners
Joint ventures between global feed groups and local agribusinesses spread capital risk, speed up plant approvals and transfer formulation know-how, creating a repeatable model for entering new national markets.
The outlook points to steady growth through 2034, with shrimp, alternative proteins, probiotics, starter feed and Middle East and Africa among the fastest-growing areas.
Aquafeed Market Segmentation Analysis
By Species
Carp held the largest 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, so feed demand scales with farmed volume. Shrimp is projected to grow at the fastest CAGR because shrimp diets carry higher protein levels and the highest value per tonne among major species. Output is rising in Ecuador, India, Vietnam and Indonesia. Tilapia, catfish, salmon, trout and other species complete the segment.
By Ingredient
Soybean meal held the largest share in 2025 because it is the most cost-effective protein source available at scale. Its amino acid profile and steady price relative to fishmeal make it the base protein in carp, tilapia and catfish diets. Alternative proteins are projected to grow at the fastest CAGR as feed makers seek protein sources independent of wild fish supply and with a lower carbon footprint. Fish meal, fish oil, cereal grains and other ingredients are also covered.
By Additive
Amino acids held the largest share in 2025 because modern fish and shrimp diets depend on synthetic methionine, lysine and threonine to balance plant-based proteins. Probiotics are projected to grow at the fastest CAGR because farmers want to protect gut health and reduce disease losses without relying on antibiotics. Vitamins, minerals, enzymes and antioxidants complete the segment.
By Life Stage
Grower feed held the largest share in 2025 because it covers the longest and heaviest feeding period in a farm cycle. Starter feed is projected to grow at the fastest CAGR because early life stages decide survival, growth uniformity and disease resilience for the entire crop. Hatchery expansion and new nursery feed lines support this growth. Finisher and broodstock feed are also covered.
Regional Analysis
Asia-Pacific
Asia-Pacific held the largest share in 2025, at 63% of global market value. 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 is the largest country market and leads through its large carp, tilapia and shrimp farming base. India is the fastest-growing country market in the region as farms move from farm-made feed to commercial diets. Vietnam and Indonesia add pangasius and vannamei shrimp demand, and Japan and South Korea sustain demand for high-value marine fish diets.
Middle East and Africa
Middle East and Africa is projected to grow at the fastest CAGR. Africa’s aquaculture feed output rose 27.5% in 2025, the fastest rise among all regions according to Alltech. Egypt is the established tilapia and mullet feed base, Nigeria and Kenya are building commercial catfish and tilapia feed supply, and Saudi Arabia, the fastest-growing country market, is developing shrimp and marine fish farming with local feed mills.
Europe, North America and Latin America
Europe held 13% of the market in 2025. The United States is the largest country market in North America. IGTPS did not publish percentage shares for North America, Latin America or the Middle East and Africa, so none are quoted here.
Competitive Landscape and Key Companies
The market is consolidated at the global level. A handful of multinational groups supply most salmon, shrimp and premium marine fish feed, while carp, tilapia and catfish feed stays fragmented across hundreds of national and regional mills.
Key players profiled by IGTPS include Skretting, Cargill, BioMar Group, Tongwei, Guangdong Haid Group, Charoen Pokphand Foods, De Heus Animal Nutrition, Vitapro, Aller Aqua, Alltech Coppens, Avanti Feeds, Godrej Agrovet, Feed One, Dibaq Aquaculture and Zeigler Bros.
Recent developments include:
- February 2026: BioMar acquired the remaining 30% shareholding in BioMar Ecuador and announced plans to lift capacity at the Ecuador facility from 300,000 tonnes to 410,000 tonnes during 2026.
- 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.
- February 2026: The Skretting-managed Tunga joint venture opened a new aquafeed plant in Nairobi, Kenya, raising capacity from 24,000 to 45,000 metric tons and adding extrusion technology.
- July 2026: De Heus opened a new fish feed mill in Vinh Long Province, Vietnam, with capacity of up to 168,000 metric tons a year for marine and cold-water species.
Competition centers on feed conversion performance, ingredient sourcing, technical service and local production capacity. Joint ventures with local partners and full buyouts of regional subsidiaries are common routes to scale.
Strategic Implications for Industry Participants
- Feed manufacturers: Species-specific formulation, certified production sites and local capacity are the main routes to share gains. Early work on low-fishmeal and fish-free lines positions suppliers for certification-led demand.
- Ingredient suppliers: Insect meal, single-cell protein and algal oil producers benefit from premium shrimp and salmon feed adoption, and from falling production costs that can broaden use.
- Farmers and hatcheries: Starter and functional diets can raise early survival, which multiplies across the full grow-out cycle.
- Investors and developers: Africa and the Middle East offer a long runway for extruded feed mills, and joint ventures spread capital risk.
Readers can review the segment-level data in the free sample pages before deciding on the full report.
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Frequently Asked Questions
What is the size of the aquafeed market?
The global aquafeed market was valued at USD 66 billion in 2025 and is expected to reach USD 70.1 billion in 2026. IGTPS projects it will reach USD 113.4 billion by 2034. The figures cover compound diets for farmed fish, shrimp and other aquatic species.
What is the CAGR of the aquafeed market?
The market is projected to grow at a CAGR of 6.2% during the forecast period from 2026 to 2034. This pace reflects rising farmed fish and shrimp output, faster adoption of commercial compound feed in Africa and South Asia, and demand for high-performance diets.
What is the forecast for the aquafeed market?
IGTPS forecasts growth from USD 66 billion in 2025 to USD 113.4 billion by 2034, with a study period from 2021 to 2034. Shrimp, alternative proteins, probiotics, starter feed and Middle East and Africa are projected to be the fastest-growing segments.
What are the key trends in the aquafeed market?
The central trend is replacing fishmeal and fish oil with insect meal, single-cell protein and algal oil. Other trends include certification-led sourcing under ASC and BAP standards, functional diets with probiotics, and capacity growth in Ecuador, China, Vietnam and Africa.
What is driving growth in the aquafeed market?
Growth is driven by rising aquaculture output and the shift from farm-made to commercial compound feed. FAO reported that aquaculture passed 100 million tonnes for the first time in 2024, reaching 103 million tonnes, and Alltech recorded 55.47 million tonnes of aquaculture feed output in 2025.
Which segments lead the aquafeed market?
Carp is the largest species segment, soybean meal the largest ingredient, amino acids the largest additive and grower feed the largest life stage. Shrimp, alternative proteins, probiotics and starter feed are the fastest-growing segments in their respective categories.
Which region dominates the aquafeed market?
Asia-Pacific held the largest share in 2025, at 63% of global market value, with China as the largest country market. Europe held 13%. Middle East and Africa is projected to be the fastest-growing region, as Africa’s aquaculture feed output rose 27.5% in 2025.
Who are the key companies in the aquafeed market?
Key players include Skretting, Cargill, BioMar Group, Tongwei, Guangdong Haid Group, Charoen Pokphand Foods, De Heus, Vitapro, Aller Aqua, Alltech Coppens, Avanti Feeds, Godrej Agrovet, Feed One, Dibaq Aquaculture and Zeigler Bros. Salmon and shrimp feed is consolidated, while carp and tilapia feed is fragmented.
What challenges does the aquafeed market face?
Main challenges include fishmeal price swings tied to anchovy catch cycles, the higher cost of alternative proteins, certification and documentation requirements, disease pressure, limits on antibiotic use and price competition among regional mills. Low starting adoption of compound feed in parts of Africa and South Asia also slows conversion.
What is the future outlook for the aquafeed market?
The outlook is steady growth through 2034. Opportunities include feed mill build-outs in Africa and the Middle East, warm-water and offshore farming projects, and joint ventures with local partners. Programs such as Saudi Arabia’s target of 600,000 tons of fish production by 2030 support long-term feed demand.
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