Global Aquafeed Market to Reach USD 112.27 Billion by 2033, Growing at a CAGR of 6.71%

 New York, NY – September 05, 2025 – The global aquafeed market, valued at USD 67.50 billion in 2024, is projected to grow from USD 71.28 billion in 2025 to USD 112.27 billion by 2033, registering a robust CAGR of 6.71% during the forecast period (2025–2033). This growth is driven by the surging demand for seafood, advancements in sustainable feed formulations, and the rapid expansion of aquaculture activities worldwide.

Get Free Sample Report : https://straitsresearch.com/report/aquafeed-market/request-sample 

Key Drivers of Aquafeed Market Growth

The escalating global demand for seafood, fueled by rising consumer awareness of its health benefits, such as high omega-3 content and lean protein, is a primary growth driver. According to a June 2024 FAO report, global seafood consumption is expected to reach 180 million metric tons by 2030, with aquaculture contributing over 60% of the supply. This has spurred the need for high-quality aquafeed to support sustainable and efficient aquaculture production.

Advancements in feed additives, such as amino acids, probiotics, and prebiotics, are enhancing aquatic animal health, improving feed efficiency, and reducing environmental impact. For instance, in January 2025, Cargill launched a probiotic-enriched aquafeed to improve gut health in farmed fish, boosting productivity and sustainability.

Regional Insights

Asia-Pacific dominated the aquafeed market in 2024, commanding over 73% of global revenue, led by extensive aquaculture in China, India, Vietnam, and Indonesia. China, the world’s largest aquaculture producer, continues to drive demand with government-backed initiatives promoting high-quality feed and sustainable practices. India’s aquafeed market is also expanding rapidly, supported by the Pradhan Mantri Matsya Sampada Yojana (PMMSY), aiming to double fish production by 2025.

North America is the fastest-growing region, driven by increasing aquaculture investments in the U.S. and Canada. The U.S. Department of Agriculture (USDA) and Canada’s Fisheries and Aquaculture Clean Technology Adoption Program (FACTAP) are fostering innovations in feed efficiency and eco-friendly practices.

Europe, led by Germany and Norway, is focusing on sustainable aquafeed solutions. Germany’s Blue Economy Initiative and Norway’s Research Council are funding low-carbon and fishmeal-alternative feeds, reinforcing the region’s leadership in sustainable aquaculture.

Market Segmentation and Trends

• By Product Type: Pellet feed led the market in 2024 with a 65% share, favored for its stability and compatibility with automated feeding systems.

• By Species: Fish, particularly carp, tilapia, and salmon, accounted for the largest segment, with carp alone contributing 23% of global demand.

• By Additives: Amino acids, such as lysine and methionine, held a 28% share in 2024, critical for protein synthesis and feed efficiency.

• By Form: Dry feed dominated with a 68% share, valued for its long shelf life and ease of storage.

• By Function: Health maintenance feeds, incorporating probiotics and immunostimulants, led with a valuation of USD 52.1 billion in 2024, growing at a CAGR of 6.8% through 2034.

Get Free Sample Report : https://straitsresearch.com/report/aquafeed-market/request-sample 

Recent Developments

• September 2025: BioMar partnered with Innovafeed and Auchan to integrate insect protein into commercial shrimp feed in Ecuador, reducing reliance on wild-caught fish.

• July 2025: Skretting collaborated with Andfjord Salmon to develop specialized feeds for closed aquaculture systems, optimizing Atlantic salmon production.

• January 2025: Cargill invested $50 million in aquafeed R&D, focusing on sustainable protein sources like algae and insect-based feeds.

Challenges and Opportunities

Despite its growth, the aquafeed market faces challenges from volatile raw material prices, particularly fishmeal and fish oil, which surged by 20% in 2024 due to supply disruptions like El Niño. However, opportunities abound with advancements in alternative protein sources, such as plant-based and insect meals, and government-backed initiatives promoting sustainable feed innovations.

Key Players

Leading companies, including Cargill, BioMar Group, Skretting, Alltech, Nutreco, and Avanti Feeds, are driving innovation and market expansion through sustainable feed solutions and strategic partnerships.