Aquafeed Market Expands as Aquaculture Growth and Sustainable Feed Innovation Reshape Global Seafood Production

The global Aquafeed Market is gaining momentum as the expansion of aquaculture increases demand for nutritionally balanced feeds while producers seek alternatives to resource-intensive conventional ingredients. According to Next Move Strategy Consulting, the market was valued at USD 68.48 billion in 2024 and is projected to reach USD 97.47 billion by 2030, representing a 6.1% CAGR from 2025 to 2030. Rising seafood consumption, expanding aquaculture production, government support and growing interest in sustainable feed formulations are among the factors shaping the market’s outlook.

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Market Growth and Outlook

Aquafeed is a core input in commercial fish, crustacean and mollusk farming, providing the nutrients required for growth, health, development and production efficiency. As aquaculture becomes an increasingly important source of aquatic foods, feed demand is closely connected to the scale and sophistication of farmed production.

The Food and Agriculture Organization of the United Nations reported that global aquaculture production reached 130.9 million tonnes in 2022, including 94.4 million tonnes of aquatic animals, equivalent to 51% of total aquatic animal production. Aquaculture surpassed capture fisheries as the main producer of aquatic animals for the first time, underscoring the industry’s expanding role in global food supply.

The Next Move Strategy Consulting study segments the Aquafeed Market by ingredient, species, function and form. Ingredient categories include soybean, corn, fishmeal, fish oil and additives. The species segment covers fish, crustaceans and mollusks, while functional applications include nutrition, growth promotion, immunity, and texture and palatability. Products are also classified as dry or wet feeds.

Rising Aquaculture Production Supports Feed Demand

The expansion of aquaculture is one of the market’s most direct growth drivers. As more aquatic animals are raised in controlled farming environments, producers require feed formulations tailored to species, life stage, production system and desired growth performance.

Asia-Pacific is particularly important to this equation. FAO data show that Asia supplied 91.4% of global aquaculture production in 2022, while the top seven aquaculture-producing countries were all in Asia.

India is also an important contributor to the regional production base. India’s Department of Fisheries states that the country is the world’s third-largest fish producer and accounted for 7.96% of global fish production, based on its 2022–23 annual report.

Growing aquaculture output translates into continuing demand for formulated feed, particularly as commercial operations emphasize predictable nutrition, feed efficiency and animal health.

Sustainability Becomes a Strategic Feed Priority

Sustainability is becoming a more important dimension of aquafeed development. Next Move Strategy Consulting identifies the growing demand for sustainable aquafeed as a key future opportunity, with plant-based, insect-derived and algae-based ingredients offering alternatives to conventional fishmeal and fish oil.

The shift is supported by concerns surrounding pressure on wild fish resources and the environmental footprint of feed production. The European Commission’s aquaculture program notes that traditional dependence on fishmeal and fish oil from wild stocks is declining in several carnivorous species and highlights alternative ingredients such as algae, insects and industrial by-products as part of more sustainable feeding systems.

In June 2026, the European Commission’s Blue Economy Observatory published guidance focused on replacing fish-derived feed ingredients with algae-based alternatives. It identified algal oil as a promising source of omega-3 fatty acids while also noting challenges involving production capacity and cost.

This trend is broadening the aquafeed ingredient landscape and creating opportunities for suppliers developing lower-impact proteins, oils and functional additives.

Alternative Proteins and Circular Inputs Gain Attention

Feed manufacturers are increasingly exploring ingredients that can reduce reliance on conventional protein sources while making greater use of locally available and recovered resources. EU-supported research has examined single-cell proteins, insects, algae and other biological resources as potential feed ingredients.

The AquaPekilo project, for example, developed a single-cell protein technology using local renewable feedstocks as an alternative to soy protein concentrate. The European Commission’s aquaculture knowledge base describes the project as an example of a circular-economy value chain intended to improve protein self-sufficiency and use biological side streams more efficiently.

Research into marine microorganisms, macroalgae, macroinvertebrates and other biological resources is similarly expanding the range of potential ingredients available to aquafeed producers.

These developments could help manufacturers manage raw-material volatility while responding to producers’ demand for feed with reliable nutritional performance and reduced environmental impacts.

Raw-Material Costs Remain a Key Challenge

The same ingredient transition also presents a commercial challenge. Next Move Strategy Consulting identifies high raw-material costs as a restraint on the market, with prices influenced by availability and volatility in fish oil, fishmeal and plant-based proteins.

Feed producers must therefore balance nutritional performance, ingredient availability, price and sustainability. This is encouraging interest in diversified sourcing and new formulation technologies rather than dependence on a limited number of raw materials.

Industry developments are already reflecting this approach. BioMar has identified raw-material availability and pricing pressures as reasons for developing more flexible feed formulations and has reported using ingredients such as microalgae oil, single-cell proteins and insect meal alongside conventional inputs.

Asia-Pacific Leads as North America Records Expansion

Asia-Pacific dominates the Aquafeed Market, according to Next Move Strategy Consulting, supported by the region’s large aquaculture production base and strong fish-farming activity, particularly in China and India. The report also identifies North America as the fastest-growing regional market, supported by increasing aquaculture product sales and investment in the sector.

U.S. government data provide evidence of continued domestic aquaculture expansion. The USDA reported that total U.S. aquaculture product sales reached USD 1.9 billion in 2023, while the number of aquaculture farms with sales increased to 3,453, up 18% from 2018.

Government investment is also supporting sector modernization. Fisheries and Oceans Canada announced more than USD 3.5 million in funding for 18 initiatives under its Fisheries and Aquaculture Clean Technology Adoption Program in February 2024, supporting adoption of cleaner technologies in the sector.

Competitive Landscape and Industry Development

The competitive landscape includes Cargill Incorporated, Alltech, Aller Aqua, Avanti Feeds Limited, BioMar Group, Nutreco, Charoen Pokphand Foods, Archer-Daniels-Midland Company, Growel, Inve Aquaculture, Ridley Corporation, Skretting, UNO Feeds, Aker BioMarine and Dibaq Aquaculture, among other participants identified by Next Move Strategy Consulting. The report highlights business expansion, portfolio development, sustainable-feed technologies, collaborations and research programs as important competitive strategies.

Recent industry activity illustrates the emphasis on portfolio development. Next Move Strategy Consulting notes that Aller Aqua introduced its OCEAN marine-feed brand in 2023, while other producers continue developing products intended to improve feed efficiency and sustainability.

“The aquafeed industry is entering a phase in which nutritional performance, raw-material resilience and environmental considerations are increasingly interconnected,” said a spokesperson at Next Move Strategy Consulting. “The development of alternative proteins, algae-based ingredients and more efficient formulations will be important as aquaculture expands and producers seek dependable feed solutions.”

Market Report Overview

The Aquafeed Market report from Next Move Strategy Consulting provides quantitative analysis and forecasts for 2025–2030, including the USD 68.48 billion 2024 market size, USD 97.47 billion 2030 forecast and 6.1% CAGR. The study analyzes the market by ingredient, species, function and form, with regional coverage of North America, Europe, Asia-Pacific and the Rest of the World. It also examines market drivers, restraints, opportunities, industry trends and competitive dynamics.

 

About Next Move Strategy Consulting

Next Move Strategy Consulting is a market research and consulting company providing market intelligence, industry analysis, competitive insights, and strategic research across a wide range of industries and geographic markets.

As aquaculture assumes a larger role in global aquatic food production, aquafeed will remain closely tied to questions of feed efficiency, ingredient security, animal health and environmental performance. Continued monitoring will therefore be important for feed manufacturers, aquaculture producers, ingredient suppliers, investors, technology providers and policymakers seeking to understand how changing production requirements and sustainable-feed innovation will shape the industry. The detailed market outlook and segmentation are available through the Next Move Strategy Consulting report.