Fishmeal And Fishoil Market: Market Size & Forecast 2026

Fishmeal is produced by cooking, pressing, drying, and grinding whole fish or fish trimmings into a high-protein meal, while fish oil is extracted from the same raw materials and prized for its omega-3 fatty acid content. Together, these commodities form a critical link between capture fisheries and animal nutrition industries, with annual global production volumes tracked by organizations such as the FAO and the European Market Observatory for Fisheries and Aquaculture Products (EUMOFA). The combined market encompasses both dedicated fishmeal-and-fish-oil processors and integrated seafood companies that process by-catch and trimmings.

• •Global production of fishmeal alone reaches approximately 5.6 million metric tons annually
• •Peru, Chile, Denmark, and Norway collectively account for the largest share of global fishmeal and fish oil manufacturing capacity
• •Official trade data on volumes and prices is published by FAO GLOBFISH and EUMOFA, while market size estimates vary across research providers

The aquaculture sector is the single largest consumer of fishmeal and fish oil, and its continued expansion in Asia-Pacific and Latin America is the primary catalyst for market growth. As farmed fish production scales to meet rising global protein demand, feed manufacturers increasingly rely on fish-based ingredients for their superior digestibility, palatability, and essential fatty acid profiles. At the same time, the human nutraceutical market demands fish oil for omega-3 supplements, while livestock and pet food sectors provide additional offtake.

• •Aquaculture output continues to grow faster than capture fisheries, sustaining structural demand for fish-based feed ingredients
• •Omega-3 demand from the dietary supplement and functional food sectors supports fish oil pricing and utilization
• •Limited supply of wild fish stocks constrains raw material availability, creating a supply ceiling that underpins pricing

The market is commonly segmented by product type, with fishmeal and fish oil analyzed separately or as a combined commodity group. By end-use, the largest segment is aquaculture feed, followed by livestock feed, pet food, and direct human consumption. Geographically, South America dominates fishmeal production, particularly Peru and Chile, which rely heavily on the Peruvian anchoveta fishery, while Europe and Asia-Pacific represent the largest consuming regions.

• •Peru alone can account for up to one-third of global fishmeal production in peak seasons
• •China is the largest importer of fishmeal, driven by its massive aquaculture and livestock sectors
• •European Union member states, especially Denmark and Norway, combine significant production with strong domestic aquafeed manufacturing

What are the recent trends and outlook?

Over the coming decade, the market is expected to grow steadily, with projections ranging from a low-single-digit to high-single-digit CAGR depending on the source. Key trends include the adoption of more sustainable fishing practices, increasing regulatory scrutiny on raw material sourcing, and ongoing efforts to optimize fish-in-fish-out ratios in aquaculture feeds through alternative ingredient research. Volatility in raw material supply, driven by El Niño events and fluctuating fish stocks, is likely to remain a defining feature of the market, influencing price cycles and trade flows.

• •Fishery certification schemes and sustainability initiatives, such as those aligned with the Marine Stewardship Council, are increasingly shaping sourcing decisions
• •Research into plant-based and insect-based aquafeed alternatives aims to reduce reliance on wild-caught fish inputs over the long term
• •Climate-related disruptions to fish stocks, particularly in the Pacific, continue to cause periodic supply shocks and price spikes