Fish Meal Substitute Market size is estimated to be USD 1.2 Billion in 2024 and is expected to reach USD 2.5 Billion by 2033 at a CAGR of 9.5% from 2026 to 2033.
The global fish meal substitute market was valued at approximately USD 7.5 billion in 2022, and it is expected to grow at a compound annual growth rate (CAGR) of 6.2% from 2023 to 2030. The rising demand for sustainable and alternative protein sources in animal feed, particularly in aquaculture, is driving market growth. The increasing concerns over overfishing and the depletion of fish stocks are also contributing to the adoption of fish meal substitutes. The markets growth is further fueled by innovations in plant based proteins, algae, and insect meals, which offer cost effective and eco friendly solutions. The market size is projected to reach around USD 13.5 billion by the end of the forecast period in 2030.
Regionally, the fish meal substitute market is experiencing substantial growth across various regions. North America and Europe are leading markets, driven by high awareness of sustainability and regulatory pressures to reduce dependency on traditional fishmeal. The Asia Pacific region, particularly China and Southeast Asian countries, is expected to witness significant growth due to the increasing demand for aquaculture and the rising adoption of alternative protein sources in animal feed. Latin America and the Middle East are also witnessing growth, driven by a shift towards more sustainable farming practices and government initiatives. The market in these regions is projected to grow at a higher CAGR due to the increasing awareness and growing demand for sustainable protein solutions in the animal feed industry.
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ADM
Roquette
Hamlet Protein
CJ Selecta
Caramuru Alimentos
Nordic Soya
Wilmar
Nutraferma
Angel Yeast
Calysta
Lallemand
NovoNutrients
KnipBio
Protix
Ynsect
Innovafeed
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Fish Meal Substitute Market
Marine Sources
Non-Marine Sources
Plant-Based Fish Meal Substitute
Animal-Based Fish Meal Substitute
Powder Form
Granular Form
Aquaculture
Animal Feed
Pet Food
Others
Agriculture
Animal Nutrition
Aquaculture
Pet Care
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Fish Meal Substitute Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Fish Meal Substitute Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Fish Meal Substitute Market, By Type
6. Global Fish Meal Substitute Market, By Application
7. Global Fish Meal Substitute Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Fish Meal Substitute Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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