Aquafeed Market

How big is Aquafeed Market in 2026?

USD 66.7 billion in 2026 and USD 123.6 billion by 2036, expanding at 6.4% CAGR.

Demand for aquafeed is projected to expand at 6.4% CAGR between 2026 and 2036. Valuation grew from USD 62.7 billion in 2025 to USD 66.7 billion in 2026 and is expected to cross USD 123.6 billion by 2036. FAO reported in June 2026 that aquaculture produced 103 million tonnes of aquatic animals during 2024. Commercial finfish and crustacean farms are purchasing formulated feed repeatedly during stocked production cycles. Suppliers are formulating diets to protect survival and feed conversion without pushing feed cost per harvested kilogram beyond workable farm economics.

Production systems and species mix are creating distinct formulation requirements among the regional markets. Japan is projected to grow at 7.9% CAGR compared with Germany at 5.0% during the assessment period. Destatis reported in June 2026 that German aquaculture produced about 16,600 tonnes of fish during 2025. Trout and char represented 59.5% of that fish output and are keeping current German demand concentrated in cold-water nutrition. Japanese farms are managing a broader marine finfish mix that requires more species-specific diet design and technical support.

Key Takeaways og Aquafeed Market

• Commercial farms are increasing recurring aquafeed purchases to protect feed conversion and survival during stocked production cycles.
• By nature, conventional aquafeed is estimated to hold 90.0% of category demand in 2026. Its position is supported by broader ingredient choices that give formulators more substitution flexibility.
• In 2026, fish is expected to lead the species category with 36.0% share of demand. Its position is driven by species-specific nutrient and production-stage requirements in commercial feed formulation.
• Farms are evaluating functional and system-specific diets against measurable health or water-management benefits under normal production conditions.
• Feed cost is limiting supplier switching because higher-priced formulations must produce a compensating biological or operating gain.
• Some of the key players in this market include Cargill, Charoen Pokphand Foods, Nutreco (Skretting), Alltech, ADM, BioMar Group, Ridley Corporation, Land O'Lakes (Purina Animal Nutrition), Aller Aqua, and Guangdong Haid Group.

Analyst Perspective

“Aquafeed suppliers are earning repeat business by proving conversion performance in the farm system that uses each diet. Ingredient novelty matters less than repeatable biological results once feed price becomes a material share of production cost.”

- Nandini Roy Choudhury, Principal Consultant, Future Market Insights

How is the aquafeed market segmented?

The aquafeed market is segmented by Nature, Species and Region.

The nature axis covers conventional and organic formulations used under different sourcing and production requirements. Species coverage includes fish, crustaceans, shrimp and prawns, salmons, carps, catfish, tuna and tilapia. Region supplies the geographic hierarchy used for country and regional analysis in the full report.

How does formulation flexibility support conventional aquafeed within the nature category?

Conventional feed gives nutrition teams a wider ingredient substitution range than certified organic production routes. NOAA updated its Future of Aquafeeds guidance in April 2025 and noted that fishmeal or fish oil are not nutritionally mandatory in diets that supply the required nutrients. Rising marine protein and oil costs are prompting formulators to rebalance fish feed ingredients without narrowing the sourcing base. Commercial acceptance still depends on palatability and digestibility under the intended species and farm system. Farms are retaining lower-cost ingredients based on trials that confirm acceptable feed conversion under normal stocking density and feeding schedules.

• Conventional aquafeed is likely to capture 90.0% share within the nature category in 2026, influenced by wider ingredient substitution options for commercial feed formulations.
• Changing ingredient availability is prompting nutrition teams to adjust conventional formulations without entering a narrower organic sourcing route.

What keeps fish formulas distinct within the species category?

Fish diets are changing with species physiology and culture systems instead of following one universal nutrient profile. USDA Agricultural Research Service reported in its 2025 annual report that researchers tested novel ingredients and complete fish feed formulations for rainbow trout production efficiency and waste control. Species choice is altering formulation trials because nutrient requirements and waste-control targets differ among farm systems. Feed manufacturers are adjusting pellet behavior and nutrient delivery to the water conditions used for each farmed species. Species-specific validation is reducing the risk that a technically sound formulation fails during routine farm use.

• Fish is projected to hold 36.0% share within the species category in 2026, attributable to species-specific nutrient and pellet requirements.
• Commercial fish farms are repeating orders based on diet trials that establish growth and feed conversion under the intended production conditions.

What are the drivers, restraints and opportunities in the Aquafeed Market?

Repeated feeding supports demand, farm economics limit switching and problem-specific nutrition gives suppliers a higher-value development route.

• Driver: Larger fed production bases are increasing recurring feed volume because stocked fish and shrimp require nutrition during every commercial growth cycle.
• Restraint: Feed price and conversion risk are slowing supplier switching because new formulas must improve farm economics under normal production conditions.
• Opportunity: Functional nutrition is supporting premium account development for formulas that demonstrate a defined health or production benefit during commercial trials.

Commercial farms are purchasing complete feed repeatedly during each production cycle and sustaining recurring aquafeed demand. Cargill reported 2.07 million tonnes of feed sold during 2025 from twelve dedicated aquafeed mills in eight countries. Cargill is operating a dedicated mill network that supplies marine feed to commercial farms at scale. Supplier retention depends on documented conversion and survival performance measured at commercial harvest under normal farm conditions. Feed companies are matching species needs with mill quality and technical support to protect repeat sales. Farm teams are adjusting feeding rates in response to stocking density and water conditions.

Feed economics are restricting supplier switching because new rations can raise cost without proven biological gains. USDA Agricultural Research Service reported that feed expenses exceed half of total production costs in the USA catfish industry. Ingredient-price changes are pushing farms to compare fishmeal and fish oil with lower-cost proteins. Commercial trials are running longer as farms wait for growth and survival gains to offset a higher feed price. Suppliers are using cost per harvested kilogram as a qualification test for routine supply decisions. Farm-specific technical support is reducing switching risk because each ration must perform consistently under the farm's water and stocking conditions.

Suppliers are using functional nutrition to address measurable farm problems beyond baseline growth in commercial production. USDA Agricultural Research Service reported 2025 work testing insect meal and other alternative proteins in salmonid diets for growth and digestibility. Formulators are using these inputs to widen protein choices for defined production constraints in commercial salmonid diets. Commercial trials are focusing on measured conversion or health outcomes instead of ingredient novelty. Suppliers are using documented farm performance to support premium pricing during repeat commercial feed trials. Functional diets are gaining clearer commercial roles in accounts that already measure specific health or production problems.

Which country CAGRs are profiled in the Aquafeed Market?

Country	CAGR
United Kingdom	8.0%
Japan	7.9%
United States	6.0%
Germany	5.0%
South Korea	4.9%

How do country-level CAGRs compare in the Aquafeed Market?

Country forecasts show distinct growth rates that reflect materially different national operating conditions. The United Kingdom is projected to expand at 8.0% CAGR, followed closely by Japan at 7.9% during the assessment period. The United States is forecast to grow at 6.0% CAGR under dispersed farm demand and species diversity. Germany is projected to grow at 5.0%, while South Korea is forecast at 4.9% under specialized national production conditions. These rates translate into different feed specifications because species mix and farming systems vary.

• The United Kingdom's concentrated salmon farming base is keeping feed conversion and supplier service under close scrutiny during commercial feed selection.
• Japan's varied marine finfish base is increasing demand for species-specific diet design and deeper formulation support from feed suppliers.
• Dispersed aquaculture farms in the United States are increasing distribution demands and raising the value of price-to-performance evidence during supplier selection.
• Germany's cold-water fish base is sustaining demand for salmonid nutrition and makes regional delivery economics a supplier constraint.
• South Korea's marine fish farms are using substantial feed volumes and require suppliers to separate fed-finfish demand from broader aquaculture output.

Comparable CAGRs do not imply equal current demand because each country converts its aquaculture base into feed purchases differently. The full report provides country-level CAGR analysis across North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia and Pacific, and the Middle East and Africa.

Country-wise Analysis

• United Kingdom salmon farms are sourcing part of their formulated feed through a tariff-rate quota with the Faroe Islands. Aquafeed demand in the United Kingdom is forecast to rise at 8.0% CAGR through 2036, supported by recurring feed requirements in commercial salmon production. A UK-Faroe Islands decision published in January 2026 raised the annual tariff-rate quota for fish feed to 20,000 tonnes from January 2026. The larger quota is widening a defined import route for formulated fish feed used by commercial salmon farms. Scottish producers are evaluating salmon feed on conversion, survival and cold-water performance during stocked production. Suppliers are maintaining dependable formulas and technical support for concentrated salmon operations that can compare feed results quickly.
• Japan's marine finfish farms are managing species diversity that requires tailored nutrition and consistent technical support. Japan's aquafeed outlook is anticipated to advance at 7.9% CAGR over the assessment period, influenced by its varied marine finfish production base. Japan's agriculture ministry reported 251,200 tonnes of marine fish aquaculture production during 2024 in national statistics. Formulators are adjusting feed premix inclusion and pellet performance for species with different nutrient requirements. Imported ingredients are adding cost pressure to formulation reviews and routine-order approval for domestic farms. Local technical teams are balancing species fit against ingredient-cost changes during repeated formulation and pricing reviews.
• United States aquaculture is geographically dispersed and includes food fish plus crustaceans and several smaller production categories. Aquafeed sales in the United States are forecast to expand at 6.0% CAGR by 2036, shaped by dispersed farm demand and species diversity. USDA Economic Research Service reported in June 2025 that 3,453 aquaculture farms operated during the 2023 census period. Feed suppliers are maintaining regional distribution networks and formulas that perform under different water systems and species requirements. Feed formulators are testing animal feed probiotics alongside conversion and survival metrics during commercial nutrition trials. Regional service is becoming more important for farms that purchase smaller volumes for different freshwater or marine species.
• Germany's aquaculture base is compact and heavily weighted toward trout and other cold-water species. Germany is estimated to post 5.0% CAGR over the forecast period, attributable to specialized cold-water production and repeat feed requirements. Destatis reported 16,600 tonnes of aquaculture fish during 2025 and trout-related species represented 59.5% of fish output. Feed manufacturers are evaluating feed enzymes and other formulation tools against nutrient-use performance under local farm systems. Smaller national volume is increasing the importance of efficient distribution because technical specialization cannot offset uneconomic delivery. Suppliers are building route density that keeps specialist cold-water feed commercially viable for dispersed farms.
• Marine fish farming in South Korea is using substantial commercial feed volumes and remains exposed to weather-related production swings. The South Korean aquafeed sector is projected to record 4.9% CAGR during the assessment period, reinforced by substantial feed use in marine fish farming. Statistics Korea reported about 536,000 tonnes of feed used in marine fish aquaculture during 2024. Formulators are evaluating insect feed ingredients as alternative protein inputs alongside conventional proteins used for commercial growth and feed conversion. Commercial suppliers are using national feed-use data to size production requirements and schedule inventory for climate-related swings. Environmental stress is increasing the value of stable feed performance during disrupted growth or survival periods.

Who are the notable companies in the Aquafeed Market?

Cargill, Charoen Pokphand Foods, Nutreco (Skretting), Alltech, ADM, BioMar Group, Ridley Corporation, Land O'Lakes (Purina Animal Nutrition), Aller Aqua, and Guangdong Haid Group are the notable companies serving this market.

Global complete-feed platforms and specialized aquaculture nutrition businesses are competing with different levels of mill control and species coverage. New entrants are facing production-control requirements and need technical evidence that each formula performs under commercial conditions. Farms are evaluating documented species coverage and production performance instead of assuming corporate scale proves aquafeed capability.

• Cargill and Charoen Pokphand Foods are operating broad aquafeed platforms alongside Nutreco (Skretting), BioMar Group and Aller Aqua.
• Alltech and ADM are supplying specialized fish nutrition through dedicated aquaculture businesses with hatchery or cold-water capabilities.
• Ridley Corporation, Land O'Lakes (Purina Animal Nutrition) and Guangdong Haid Group are serving narrower or regionally concentrated aquaculture feed routes.

Competitive Benchmarking: Aquafeed Market

Company	Species-Specific Feed Breadth	Functional & Life-Stage Nutrition	Dedicated Aquafeed Production Footprint	Geographic Reach
Cargill	High	High	High	Multi-region aqua nutrition operations
Charoen Pokphand Foods	High	Medium	High	Asia-centered international operations
Nutreco (Skretting)	High	High	High	Five-continent production network
Alltech	High	High	Medium	Europe-centered production with global exports
ADM	Medium	High	Medium	International hatchery and nursery feed reach
BioMar Group	High	High	High	Europe, Americas and Asia-Pacific
Ridley Corporation	Low	Low	Low	Australia and international NovaqPro activity
Land O'Lakes (Purina Animal Nutrition)	High	Medium	Low	United States
Aller Aqua	High	High	High	Europe, Africa and Asia
Guangdong Haid Group	High	Medium	High	China with expanding overseas operations

Scoring basis: High species breadth requires documented feeds for several commercial aquatic species while Medium requires a narrower multi-species range and Low identifies one narrow route. High functional depth requires multiple specialized routes covering hatchery or health nutrition and life-stage or system-specific feeds. Medium requires one documented specialized route and Low indicates only general aquaculture nutrition without a specialized feed function. High production footprint requires multiple dedicated aquafeed facilities while Medium requires one or a small verified aquafeed network and Low identifies a narrow or non-dedicated feed footprint.

Key Developments in the Aquafeed Market

• In August 2026, BioMar Group and Multi X began a twenty-four-month regenerative agriculture pilot using wheat and peas connected to salmon feed supply in southern Chile.
• In August 2026, Charoen Pokphand Foods' C.P. Vietnam inaugurated its fourth aquaculture feed mill and raised the company's aquafeed capacity in Vietnam above 650,000 tonnes per year.
• In October 2025, Nutreco (Skretting) launched updated Lorica and Optiline shrimp feeds using its EDGEOS PhytoComplexes formulation platform for commercial shrimp production.

Key Players in the Aquafeed Market

Global multi-species aquafeed platforms

• Cargill
• Charoen Pokphand Foods
• Nutreco (Skretting)
• BioMar Group
• Aller Aqua
• Guangdong Haid Group

Specialized aquaculture nutrition businesses

• Alltech
• ADM

Regionally concentrated or specialist feed participants

• Ridley Corporation
• Land O'Lakes (Purina Animal Nutrition)

Aquafeed Market - Report Scope

Coverage field	Report scope
Market breakdown	By nature, species and region.
Quantitative Units	USD billion.
Market Definition	Commercially sold complete or formulated aquafeeds for farmed fish and crustaceans within the stated segmentation.
Regions Covered	North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia and Pacific, and Middle East and Africa.
Countries Covered	United Kingdom, Japan, United States, Germany, South Korea, and 20+ countries included in the full report.
Key Companies Profiled	Cargill, Charoen Pokphand Foods, Nutreco (Skretting), Alltech, ADM, BioMar Group, Ridley Corporation, Land O'Lakes (Purina Animal Nutrition), Aller Aqua, and Guangdong Haid Group.
Forecast Period	2026 to 2036.
Approach	Primary and secondary research with market triangulation.

Aquafeed Market - Research Methodology

Method	Approach
Primary Research	FMI analysts gathered input from manufacturers, service providers, technology developers, distributors, end users, procurement teams, and subject-matter experts. Interviews examined purchasing decisions, product or service evaluation, adoption barriers, approval requirements, pricing considerations, and expectations for technical or commercial support. Respondents were also asked what evidence is required before a trial, pilot, or initial order develops into regular purchasing.
Desk Research	Desk research covered government statistics, regulatory publications, trade data, industry associations, technical literature, standards, company filings, product information, and official corporate announcements. Sources were reviewed for relevance, publication date, geographic coverage, and consistency with the defined market scope. Claims relating to performance, applications, approvals, capacity, investment, and commercial activity were retained only when supported by credible public evidence.
Market Sizing and Forecasting	The market model combined the baseline value with historical performance, segment structure, pricing and volume indicators, adoption levels, company participation, and country-level demand conditions. Forecast assumptions considered economic activity, investment trends, regulatory developments, technology adoption, purchasing cycles, supply availability, and barriers to wider market use. Segment and regional estimates were reconciled before the final market total was calculated.
Data Validation	Estimates were checked against multiple independent indicators, including public data, company activity, trade patterns, industry developments, and findings from primary interviews. Validation also tested whether products, services, applications, and company revenues fell within the defined market boundaries. Adjacent categories, unsupported claims, overlapping revenues, and activities without direct market relevance were excluded to reduce double counting and maintain consistency across segments and countries.

Aquafeed Market by Segments

Aquafeed Market segmented by Nature:

• Conventional
• Organic

Aquafeed Market segmented by Species:

• Fish
• Crustaceans
• Shrimp and Prawns
• Salmons
• Carps
• Catfish
• Tuna
• Tilapia

Aquafeed Market by Region:

• North America
  • United States
  • Canada
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Chile
• Western Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Benelux
  • Nordics
• Eastern Europe
  • Poland
  • Czech Republic
  • Romania
  • Hungary
• East Asia
  • China
  • Japan
  • South Korea
• South Asia and Pacific
  • India
  • ASEAN
  • Australia and New Zealand
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Türkiye
  • Israel

Research Sources and Bibliography

• Food and Agriculture Organization of the United Nations. (2026, June 16). SOFIA 2026: Global fisheries and aquaculture production reaches new highs.
• Federal Statistical Office of Germany (Destatis). (2026, June 5). KORREKTUR: 1,2 % weniger Fisch aus Aquakulturen im Jahr 2025.
• NOAA Fisheries. (2025, April 21). The Future of Aquafeeds.
• USA Department of Agriculture, Agricultural Research Service. (2025). Innovations in Feed Science, Farming Practices, and Broodstock Management to Improve Sustainability of Salmonid Aquaculture: 2025 Annual Report.
• Cargill. (2026). Our performance in 2025.
• USA Department of Agriculture, Agricultural Research Service. (2025). Maximizing Profitability and Fish Health in Catfish Aquaculture: 2025 Annual Report.
• USA Department of Agriculture, Agricultural Research Service. (2025). Improving North American Atlantic Salmon Aquaculture Production: 2025 Annual Report.
• Foreign, Commonwealth & Development Office. (2026, January 12). Decision No. 1/2025 of the UK-Faroe Islands Joint Committee of 19th August 2025 [TS No.2/2026].
• Ministry of Agriculture, Forestry and Fisheries of Japan. (2025, May 30). [2024 Fishery and Aquaculture Production Statistics].
• USA Department of Agriculture, Economic Research Service. (2025, June 10). USA aquaculture expands with new operations and increased sales.
• Statistics Korea. (2025, March 21). [2024 Fish Aquaculture Trends Survey results (provisional)].
• Charoen Pokphand Foods. (2026, August 19). C.P. Vietnam Expands Sustainable Feed Production with Launch of Fourth Aquaculture Feed Mill.
• BioMar Group. (2026, August 12). Multi X and BioMar Launch Chile’s First Regenerative Agriculture Pilot for the Salmon Value Chain.
• Skretting. (2025, October 21). Unveiling the next generation of global shrimp feeds: Lorica and Optiline.
• Alltech. (2025, June 30). Alltech becomes majority owner of Alltech Fennoaqua, Finland's only fish feed production facility.
• ADM. (2026, June 11). ADM Bern Aqua is First BAP-Certified Producer in Belgium.
• BioMar Group. (2026, February 11). BioMar builds new capacity in China.
• Ridley Corporation. (2025, February 20). FY25 1H results.
• Aller Aqua. (2026, March 11). New TEA concept aims to elevate aquaculture standards.
• Guangdong Haid Group. (2026, April 28). 2025 Annual Report.
• Purina Animal Nutrition. (n.d.). Products. Retrieved September 17, 2026.
• Skretting. (2025, December 7). Skretting and Longyang Fresh advance strategic partnership.
• De Heus Animal Nutrition. (2025, September 2). De Heus officially opens state-of-the-art fish feed factory in Njeru, Uganda.
• De Heus Animal Nutrition. (2026, July 22). De Heus expands aquaculture capabilities with new marine and cold-water fish feed mill.
• Zeigler Bros., Inc. (2026, March 16). Zeigler Bros., Inc. Launches New Koi Line-Up And Packaging.
• BioMar Group. (2026, February 16). BioMar launches a new functional feed to support seabass during bacterial challenges.
• Alltech Coppens. (2025, October 29). Aquaculture Stewardship Council (ASC) Feed Standard certifications awarded to Alltech Coppens and Alltech Fennoaqua.
• Skretting. (2025, July 31). Three more Skretting factories awarded with ASC certification.
• Charoen Pokphand Foods. (2025, May 19). CP Foods Achieves TIS 9999 Certification for Sustainable Feed Business Through Sufficiency Economy Philosophy.
• Skretting. (2025, April 28). Commiting to growth in China with opening of new LifeStart production line.

This bibliography is provided for reader reference and is not exhaustive. The full report contains the complete reference list and detailed citations

This Report Answers

• How large is the aquafeed market in 2026 and 2036?
• Which operating conditions convert aquaculture output into recurring aquafeed purchases?
• Which operating factors support conventional feed’s 90.0% share of nature demand?
• How does species-specific nutrition support the fish category’s 36.0% share?
• Which cost pressures slow routine switching between competing commercial aquafeed suppliers?
• How do country growth rates differ among the compared markets?
• Which companies operate broad or specialized aquafeed production and nutrition routes?
• What evidence should farms require to approve a new commercial feed?