Global Plant Based Fish Feed Market Size By Product Type (Soybean Meal, Cottonseed Meal, Corn Meal), By End-Use Application (Commercial and Household), By Geographic Scope And Forecast

Plant Based Fish Feed Market Size And Forecast

Plant Based Fish Feed Market size was valued at USD 11.98 Billion in 2024 and is projected to reach USD 17.9 Billion by 2031, growing at a CAGR of 5.00% from 2024 to 2031.

The rise of the plant-based fish feed market is being driven by an increase in the demand for seafood. Aside from that, the high omega-3 content and simple digestible of fishes promote market expansion. However, the restricted availability of fish species in comparison to sources with minor environmental footprints limits the expansion of the plant-based fish feed business. Venture capitalist investments and investments in new technologies are projected to drive the expansion of the plant-based fish feed business in the near future. The Global Plant Based Fish Feed Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Plant Based Fish Feed Market Definition

Fish feeds are pellets or granules that nourish the fish and help them develop to their maximum capacity. Plant-based fish feed is made from soybeans, canola oil, lipids obtained from algae, and amino acid additions. All of these plant sources are high in protein and omega-3 fatty acids and are easily digestible. As a result of these advantages, the plant-based fish feed market has enormous development potential. Because most marine fish and certain freshwater lake fish are carnivorous, they require feed high in fats and proteins with minimal carbohydrate and fiber content. Herbivorous and omnivorous fish species eat mostly on plant-based fish diets, helping them to digest starch more smoothly than their carnivorous counterparts. Horse or fava beans, Soybeans, Soybean meal, Soy protein concentrate, Rapeseed, Rapeseed meal, Sunflower cake, and other plant-based products are included.

Global Plant Based Fish Feed Market Overview

In recent years, the increased worldwide demand for seafood has had a direct influence on the need for plant-based fish feed. Furthermore, according to the Food and Agriculture Organization of the United Nations, the aquaculture business accounts for more than half of the world’s edible seafood supply. As a result, industry participants in the aquaculture business must discover alternate feeds to supply the world’s expanding demand for fish. Global fish consumption has increased dramatically in recent years. In recent years, increased seafood consumption has provided lucrative prospects in the plant-based fish feed business, as aquaculture producers place their hopes in alternative feeds. Soybean and corn meals currently dominate the plant-based fish feed market in terms of market share and value, and this trend is likely to continue during the forecast period.

Soybean and maize meals have demonstrated significant promise in recent years and are gaining widespread appeal due to improved digestibility, optimal protein content, and omega-3 levels. Another important aspect influencing the rising use of soybean and corn meals is their cost. The previously described plant-based fish feed is both cost-effective and replicates the appropriate nutritional content for fish. As demand for plant-based fish feed is likely to rise over the next decade, established manufacturers are banking on innovation and R&D to secure a strong market position. Several firms throughout the world are boosting their investments in innovative technology in order to identify cost-effective plant-based fish feed options to fulfil global edible seafood demand.

Although alternative feed manufacturing is still in its early stages, big corporations are depending on acquiring components from these replacements to generate bespoke aqua feed for diverse species based on their nutritional requirements. Investments in the development of innovative plant-based aqua feed are likely to grow as investors and stakeholders look to the lucrative prospects and great potential of the plant-based fish industry, particularly in North America and Europe. However, the restricted availability of fish species in comparison to sources with minor environmental footprints limits the expansion of the plant-based fish feed business.

Global Plant Based Fish Feed Market Segmentation Analysis

The Global Plant Based Fish Feed Market is segmented based on Product Type, End-Use Application, and Geography.

Plant Based Fish Feed Market, By Product Type

• Soybean Meal• Cottonseed Meal• Corn Meal• Distillers Dried Grains with Soluble• Wheat Bran• Rice Bran• Other Product Types (Canola Meal, Sunflower Meal, etc.)

Based on Product Type, the market is further segmented into Soybean Meal, Cottonseed Meal, Corn Meal, Distillers Dried Grains with Soluble, Wheat Bran, Rice Bran, and Others. Among plant protein sources, soybean is highly suitable in these regards because it also contains lecithin and oil in addition to a high quantity of crude protein. Soybean meal is a popular plant protein source in aquafeed and the most researched replacement for fishmeal. However, the soybean meal market price is volatile because of various industrial applications that might drive up the price. In addition to fishmeal substitution, this advancement has prompted research initiatives to evaluate other plant sources appropriate for substituting soybean meal in formulations. Other soybean-based products, such as defatted soybean meal (50-54% crude protein), soybean protein concentrate (SPC, 67-72% crude protein), soy protein isolate (SPI, 90-92 % crude protein), and fermented soybean, have also been used successfully to reduce fishmeal inclusion, either alone or in combination with other plant-based ingredients as vegetable blends.

Plant Based Fish Feed Market, By Application

• Commercial• Household

Based on End-Use Application, the market is further segmented into Commercial and Household. The fish feed is used in both household and commercial applications. The commercial segment is dominating the market due to the a huge opportunity to capitalize on the growing demand for commercial fish feed. Farmers are also shifting away from traditional techniques of feeding aquatic animals and toward commercial feeding.

Plant Based Fish Feed Market, By Geography

• North America• Europe• Asia Pacific• Rest of the World

Based on regional analysis, the Global Plant Based Fish Feed Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America leads the world in terms of market share due to the region’s increased use of plant-based food products. Asia-Pacific, on the other hand, is expected to develop at the fastest rate between 2022 and 2028. Factors such as rising demand for fish oil and fish-based household and commercial items in the area would generate profitable growth opportunities for the Asia-Pacific Plant-Based Fish Feed market.

Key Players

The “Global Plant Based Fish Feed Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are ADM, Adisseo, Skretting, Alltech, BioMar Group, Cargill Incorporated., Nutreco N.V., Ridley Corporation Limited, Hanpel Tech Co. LTD amongst others are a few major companies operating in the Plant Based Fish Feed Market. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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