Global Aquafeed Market Projected to Reach USD 99.94 Billion by 2032, Reports Vyansa Intelligence

Noida, India — Vyansa Intelligence has released a new market research report on the global aquafeed industry. The report covers market size, segmentation, regional analysis, competitive landscape, growth factors, challenges, and trends across the forecast period spanning 2026 to 2032. The study period includes historical data from 2022 and uses 2025 as the base year for estimation.

According to the report, the global aquafeed market was valued at USD 71.12 billion in 2025. The market is projected to grow from USD 72.7 billion in 2026 to USD 99.94 billion by 2032, at a compound annual growth rate of 4.98% during the forecast period.

Background on the Aquafeed Industry

Aquafeed refers to compound feed formulated for farmed aquatic species, including fish, shrimp, and other marine and freshwater animals. Commercial aquaculture operations use formulated feed across hatchery, nursery, grow-out, pond, cage, and recirculating aquaculture systems. Feed choice affects growth rates, survival, feed conversion ratio, water quality, and harvest outcomes.

FAO data cited in the report shows that global aquaculture production reached 130.9 million tonnes in 2022, including 94.4 million tonnes of aquatic animals. Aquaculture surpassed capture fisheries as the main source of aquatic animal production for the first time in that year.

Key Findings by Segment

The report segments the market by species, feed type, ingredient type, form, application, sales channel, and region.

By species, shrimp holds approximately 30% of the market. Shrimp farming relies on feed-intensive production, export-oriented supply chains, and stage-specific nutrition programs that address water stability, molting, survival, and growth across hatchery, nursery, and grow-out phases.

By feed type, grower feed accounts for approximately 40% of the market. This segment covers the main biomass-building phase of the farming cycle, during which daily feed intake is at its highest. Grower feed performance directly affects feed conversion ratio, pond conditions, and harvest planning across commercial aquaculture systems.

Regional Analysis

Asia Pacific accounts for approximately 50% of the global aquafeed market. The region’s share is supported by large-scale aquaculture output in China, India’s shrimp export system, Vietnam’s fishery production, and intensive farming systems across Southeast Asia for shrimp, pangasius, tilapia, and marine fish species.

USDA-FAS data cited in the report indicates that China remained the world’s largest seafood producer in 2024, with total production estimated at 74.1 million metric tonnes and aquaculture output increasing 4.5% year-on-year to 58.1 million metric tonnes. Vietnam’s General Statistics Office reported total fishery production of 9,547.0 thousand tonnes in 2024, reflecting a 2.5% increase from the prior year.

Growth Factor Identified in the Report

The report identifies formulated feed adoption as the primary factor driving demand in the aquafeed market. As farming intensity increases across commercial aquaculture systems, producers shift toward compound feed programs that deliver consistent nutrition, predictable growth, and reliable crop outcomes compared to farm-mixed or low-grade inputs.

Challenge Identified in the Report

Feed ingredient cost volatility is identified as the main challenge for the aquafeed industry. Formulas depend on fishmeal, fish oil, oilseed meals, cereal grains, amino acids, vitamins, minerals, and functional additives. The World Bank commodity analysis cited in the report projects price declines of 5% in 2025 and 2% in 2026, while noting upside risks from energy disruptions and broader commodity uncertainty. OECD-FAO projections indicate fishmeal and fish oil prices are expected to remain elevated relative to historical levels, though below earlier peaks.

Trend Identified in the Report

The report identifies the adoption of alternative feed ingredients as a notable trend in aquafeed development. Suppliers are incorporating plant-based proteins, algae oil, insect meal, microbial proteins, and functional additives into formulations as substitutes for marine-derived ingredients. NOAA Fisheries’ 2025 Future of Aquafeeds report, cited in the study, reviews alternative ingredient research and identifies areas requiring further development for practical commercial application.

Companies Covered in the Report

The report profiles 15 companies active in the global aquafeed market. More than 30 companies are identified as engaged in aquafeed production globally, with the top five collectively holding approximately 30% of market share. Companies covered include Aller Aqua A/S, Charoen Pokphand Foods Public Company Limited, Nutreco N.V., Nutreco N.V. (Skretting), BioMar Group A/S, Cargill Incorporated, Archer-Daniels-Midland Company, Alltech Coppens B.V., Grobest Group Limited, Ridley Corporation Limited, Mowi ASA, Koninklijke De Heus B.V., Guangdong Haid Group Co. Ltd., Growel Feeds Private Limited, and The Waterbase Limited.

Recent industry developments noted in the report include the launch of SmartCare Defence by BioMar Group in 2026, a functional feed solution developed for sea bass to address bacterial infection risk during high-risk farming periods in Mediterranean aquaculture. Skretting launched Necto in October 2025, a functional health diet for fish utilizing proprietary PhytoComplexes.

Report Scope and Methodology

The report covers 500 pages and is categorized under the Agriculture vertical. It is available in PDF, PPT, and Excel formats. The study follows a four-phase methodology comprising secondary research, primary research with industry stakeholders, top-down and bottom-up market size estimation, and data triangulation for segment-level validation.

About Vyansa Intelligence

Vyansa Intelligence is a market research firm headquartered in Noida, India. The firm publishes industry reports across more than 11 verticals including agriculture, healthcare, energy, ICT, food and beverage, packaging, and mobility. Contact information is available at website.