Fish Powder Market Size, Share, Growth & Forecast (2024-2032)

Fish Powder Market Synopsis: 

Fish Powder Market Size Was Valued at USD 8.22 Billion in 2023, and is Projected to Reach USD 15.50 Billion by 2032, Growing at a CAGR of 7.30% From 2024-2032. 

The fish powder market is growing steadily, driven by rising demand for high-protein animal feed, aquafeed, and dietary supplements. Key factors include increasing global seafood processing, sustainability efforts in by-product utilization, and expanding use in pet food. Asia-Pacific leads production and consumption. Innovations in drying technology and value-added formulations are also enhancing market appeal across agriculture and nutrition sectors.  

The fish powder market is developing gradually, and its demand has been growing worldwide through various fields like animal feed, pet food, and human food. Fish powder, which is a sub-product of fishmeal, is said to be rich in proteins, fats and minerals; it is used in these sectors. Increased production of fish through aqua culture and the need to come up with sustainably sourced high-quality feed for fish are some of the drivers that will continue to fuel the need for fish powder.  

The Asia-Pacific region has the largest market share for algae due to the active aquaculture business, especially in China, India, and Vietnam. North America and European countries also have large market for fish powder principally in the pet food and animal feed sectors. This has led to increase in demand of this product since the awareness of the importance of fish-derived ingredients like improvement of livestock health and productivity have played a big role in the market dominance. In addition, a shift towards the use of organic and renewable animal feed and the advancement of newer ways to process and extract fish powders will continue to drive growth in the years ahead.

Fish Powder Market Trend Analysis: 

Growth of Fish Powder in the Animal Feed Sector 

• In the animal feed industry fish powder is of great importance in boosting the nutritional needs of livestock and fish farming feeds. Since global consumption of meat is likely to increase further, especially in the emerging countries, there is a steady demand for better quality and reliable feed ingredients. Fish powder is also held in high esteem because of the quality and nutritional quality of amino acids and enhanced stability due to digestibility that improves growth and general wellbeing of animals. This has caused its use in formulating special feed for different classification of stocks such as poultry, pet and fish among others.  

• In addition, a global escalation in fish farming or aquaculture production due to higher demand for seafood products is expected to support the growth of fish powder market. Fish farms use powerful protein combinations in their formulas, where fish powder is a popular choice among fish feed producers. There has been increasing consciousness regarding sustainable and responsible sources of ingredients that has gone on to increase the usage of fish derived from an environmentally/through aquaculture method and this fish powder also falls under this category. This trend is even more noticeable in those geographic locations that rely on aquaculture as a major source of food. Since its functionality in enhancing sustainable and high-performance animal feed. 

Growth in the Growing Fish Powder Market 

• A large number of both human and livestock and aquaculture population around the world means that the requirement for better quality of feedstuffs such as fish powder has increased. Fish powder, which is easily soluble and very rich in protein translates to, faster growth rates and enhanced health of both fish and livestock. This makes it an important component in finished feed formulations for animals, particularly in the aquaculture farming system, poultry and swine production units. The global population is growing, and there is always a need for quality and healthy animal feeds hence making fish powder as the most suitable for feeding animals. 

• Opinion three can be a key factor in the increase in the demand of fish powder: the emergence of aquaculture market in the growth of emerging economies. Such markets are ever expanding through which there is more pressure on making fish farming more sustainable and productive. Fish powder can therefore be seen as the solution to this problem by illustrating all the nutrition that helps grow new fish as well as those that improve the health of fish that is already farmed. Furthermore, with rising improvements in fish processing technologies, the cost of Fish powder actually becomes competitive in the market hence fits the animal feeds industry.  

Fish Powder Market Segment Analysis: 

Fish Powder Market  is Segmented on the basis of Source, Application, and Region  

By Source, Whole Fish segment is expected to dominate the market during the forecast period 

• Whole fish category includes fish that have been processed for use as whole fish for a wide range of uses. This included species such as salmon, mackerel and anchovy, which are very important due to their nutritional values and are widely used as material for fish meal, fish oil and direct human consumption. Whole fish contain high quality protein, essential polyunsaturated fatty acids such as omega-3 fatty acids, and vitamins and minerals and are a valuable source for animal feed especially for the aquaculture sector. All the parts of the fish are put to great utility which makes the fish a very economical fish both in terms of food production and industrial applications. 

• Unlike by-products, whole fish are rich in nutrients, and therefore, their uptake is increasing rapidly in different industries. And due to the growing demand for quality feed ingredients internationally specifically for fish farms, the whole fish sector is poised for growth. This demand has been informed by the desire to obtain better quality, high growth rate and healthy protein, sustainable in fish farm feed. Moreover, whole fish are necessary to satisfy the growing customer base for seafood that continues to drive the growth of this segment worldwide. 

By Application, Swine segment expected to held the largest share 

• Fishmeal, derived from both whole fish and by-products, is a key ingredient in swine feed, offering a rich source of high-quality protein, amino acids, and essential fatty acids. These nutrients are crucial for the growth and development of pigs, particularly during their early life stages when muscle development and overall health are critical. Fishmeal supports the growth of lean muscle mass, strengthens immune systems, and improves the overall health of swine, making it an essential component of swine nutrition. The increasing demand for pork worldwide, particularly in Asia-Pacific regions, has significantly boosted the consumption of fishmeal in swine feed formulations. 

• As the global demand for pork continues to rise, fishmeal plays a vital role in meeting the nutritional needs of pigs while promoting their optimal health. The inclusion of fishmeal in swine diets can also help reduce reliance on antibiotics, as its nutritional profile enhances the immune response, leading to healthier livestock and potentially reducing the need for antibiotic treatments. This trend towards more sustainable and health-focused animal feed is driving the growth of the swine feed market, where fishmeal remains a preferred choice due to its superior nutritional benefits. The expanding global pork market, combined with the increasing emphasis on animal health and sustainable feed practices, is expected to further fuel the demand for fishmeal in the swine industry. 

Fish Powder Market Regional Insights:  

North America is Expected to Dominate the Market Over the Forecast period 

• The Fish Powder Market is also well developed in North America, especially the United States, where fish powder is used extensively in animal feed, especially for aquaculture. Fish powder is another critical nutrient input in fish feed because of its nutritional value hence the role it plays in the health of aquatic species in aquaculture production. With the increasing trend of fish consumption especially in the aquaculture farming process, the high quality fish powder to meet the feed quality requirement is also in high demand.  

• North America that has promoted the search for better sustainable fish powder products. Increased demand for organic and environmental friendly products in food and animals feed is shaping up this market through increased production of environment a friendly fish powder. At the same time, the market niches with functional foods and diet supplements are expanding; fish powder is popular with consumers because of its nutritional values such as omega 3 fatty acids and protein content. This has in turn acted as a catalyst to the market potential since consumers look for products that are associated with health benefits hence improving on both food and feed in the region.  

Active Key Players in the Fish Powder Market  

• Oceana Group Limited 
• Austevoll Seafood ASA 
• Pelagia AS 
• Croda International Plc 
• Omega Protein Corporation 
• Marvesa 
• TASA 
• GC Rieber VivoMega AS 
• The Scoular Company 
• Sürsan 
• Other Active Players