Animal Feed - Fish Meal: Market Size & Forecast 2026

The global animal feed fish meal market sits at approximately USD 12.5 billion in 2025 (base year), held in a structurally tight balance between expanding aquaculture demand, supply constraints driven by El Nino-induced Peruvian anchovy quota reductions, and persistent structural underinvestment in processing capacity outside the traditional South American and European hubs. Published industry pricing reports indicate that spot feed-grade fish meal prices have climbed roughly 30% from approximately USD 1,400 per metric ton to a recent spot of USD 1,800 per metric ton, reaching record highs in fish feed input costs through early 2026. The market trades at a Buyer Power Score of -2.4 (supplier-favoring), reflecting concentrated raw material supply chains, limited immediate substitution options for high-value aquafeed formulations, and sustained demand growth from aquaculture protein conver

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