1. What is the current size of the global aquafeed market?
The global aquafeed market was valued at USD 53.80 billion in 2026 and is projected to reach USD 69.40 billion by 2031, growing at a CAGR of 5.22%.
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The global aquafeed market is experiencing robust expansion, underpinned by a fundamental shift in global protein consumption. Our proprietary primary research estimates the market at USD 53.80 billion in 2026, with projections indicating a rise to USD 69.40 billion by 2031, representing a steady CAGR of 5.22%. This growth is not merely a function of volume; it reflects a structural transformation toward high-performance, species-specific nutrition.
Per-capita seafood consumption has climbed to 21.4 kilograms in 2025, up from 19.2 kilograms in 2019. With capture fisheries plateauing, aquaculture now supplies 58% of this demand, creating an inelastic demand curve for formulated feeds. The Asia-Pacific region remains the epicenter of this growth, commanding a 69.9% share of global market value in 2025 and is projected to be the fastest-growing region at a 5.5% CAGR through 2031. This dominance is driven by intensive production in China, India, and Vietnam, where high-density farming systems demand nutritionally dense, functional feeds.
The market is segmented by species, ingredient, additive type, form, and life-cycle stage. Our analysis reveals clear dominance patterns and emerging high-growth niches.
| Segment | Dominant Category (2025) | Share (%) | Fastest-Growing Category | CAGR (2026–2031) |
|---|---|---|---|---|
| By Species | Fish Feed | 63.7 | Crustacean Feed | 5.4% |
| By Ingredient | Oilseeds & Pulses | 29.6 | Novel Proteins | 6.0% |
| By Additive | Vitamins & Minerals | 24.9 | Probiotics | 6.1% |
| By Form | Pellets | 68.4 | Extruded Feed | 5.5% |
| By Life-Cycle | Grower Diets | 38.1 | Starter Feeds | 5.6% |
Fish feed dominates, accounting for 63.7% of market value in 2025, driven by carp, tilapia, and salmon production. However, crustacean feed is gaining momentum, with a projected 5.4% CAGR through 2031, fueled by shrimp farming expansion in Southeast Asia and Latin America.
Dry forms, particularly pellets, hold a 68.4% share due to ease of storage, transport, and automated feeding compatibility. Extruded feed is growing at a 5.5% CAGR, as it offers better nutrient digestibility and water stability. In ingredients, oilseeds and pulses lead with a 29.6% share, but novel proteins—insect meal, algae, and single-cell proteins—are expanding at a 6.0% CAGR, supported by EU and Norwegian safety approvals.
Asia-Pacific generated 69.9% of global market revenue in 2025 and is forecast to grow at a 5.5% CAGR through 2031. China alone projects seafood demand to rise 3.8% annually through 2031, absorbing most of its record output. India and Vietnam are also key growth engines, with Vietnam’s operators increasing stocking density to 150–200 post-larvae per square meter, requiring feeds with 38–42% protein plus immunostimulants.
The US market is expected to reach USD 1.98 billion by 2031 from USD 1.44 billion in 2026, at a 6.5% CAGR. Growth is driven by aquaculture expansion and the adoption of functional additives. Europe is witnessing a shift toward alternative proteins and RAS (Recirculating Aquaculture Systems), demanding high-digestibility, low-waste feed formulations.
Policy incentives in Africa and the Middle East are diversifying production hubs, unlocking new customers for formulated diets. This region, while starting from a smaller base, presents untapped volume potential as production scales toward export-oriented operations.
The market is moderately consolidated, with global players and regional specialists competing on formulation expertise and supply chain efficiency. Key players include Tongwei Co., Ltd., Guangdong HAID Group Co., Ltd., Cargill, Incorporated, BioMar Group A/S, and Charoen Pokphand Foods Public Company Limited.
Recent strategic developments underscore the industry’s pivot toward sustainability and functional nutrition:
The aquafeed value chain spans raw material suppliers, feed manufacturers, aquaculture farmers, and end consumers. Key risks include:
To mitigate these risks, manufacturers are investing in alternative protein supply chains, including insect meal and algal oil, and adopting blockchain-enabled traceability to meet ESG-linked loan covenants.
Significant opportunities exist in:
Global trade in aquafeed raw materials is dominated by fishmeal and soy. Key exporters of fishmeal include Peru, Chile, and Denmark, while major importers are China, Norway, and Japan. For soy, Brazil and the US are leading exporters. Trade flows are influenced by tariffs, sustainability certifications, and disease outbreaks in exporting regions. Suppliers are increasingly entering long-term contracts to secure volumes, and vertical integration is a growing trend among large aquaculture operators.
| Strategy | Initiatives |
|---|---|
| Market Penetration | Expand distribution in Asia-Pacific and Latin America; promote functional feeds to existing customers. |
| Market Development | Enter Africa and Middle East markets with tailored, cost-effective formulations. |
| Product Development | Launch species-specific starter feeds and probiotic-enhanced diets; invest in insect-based proteins. |
| Diversification | Integrate AI-driven feeding systems and offer sustainability consulting to aquaculture farms. |
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 5.22% from 2020-2034 |
| Segmentation |
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Our rigorous research methodology combines multi-layered approaches with comprehensive quality assurance, ensuring precision, accuracy, and reliability in every market analysis.
| Stakeholder Role | Interview Share (%) |
|---|---|
| Procurement Director | 30% |
| Formulation Scientist | 25% |
| Farm Manager | 25% |
| Sustainability Officer | 20% |
| Company Type | Representation (%) |
|---|---|
| Feed Manufacturers | 35% |
| Aquaculture Farm Operators | 30% |
| Ingredient Suppliers | 20% |
| Nutritional Additive Providers | 10% |
| Equipment & Technology Providers | 5% |
The global aquafeed market was valued at USD 53.80 billion in 2026 and is projected to reach USD 69.40 billion by 2031, growing at a CAGR of 5.22%.
Asia-Pacific is the largest and fastest-growing region, accounting for 69.9% of the global market share in 2025, driven by intensive aquaculture in China, India, and Vietnam.
Rising global seafood consumption, expansion of intensive aquaculture systems, and advances in functional feed additives are the primary drivers. Per-capita seafood intake reached 21.4 kg in 2025, with aquaculture supplying 58% of demand.
Fish feed dominates with a 63.7% share in 2025, while crustacean feed is the fastest-growing segment at a 5.4% CAGR through 2031.
Novel proteins such as insect meal, algae, and single-cell proteins are expanding at a 6.0% CAGR, supported by regulatory approvals in the EU and Norway. Probiotics are also gaining traction, growing at 6.1%.
Key companies include Tongwei Co., Ltd., Guangdong HAID Group Co., Ltd., Cargill, Incorporated, BioMar Group A/S, and Charoen Pokphand Foods Public Company Limited, among others.
The US aquafeed market is expected to grow from USD 1.44 billion in 2026 to USD 1.98 billion by 2031, at a CAGR of 6.5%.
Raw material price volatility, disease outbreaks in aquaculture, and stringent environmental regulations are the primary challenges restraining market growth.