Fish Powder Market Outlook

The global fish powder market is entering a new growth phase, supported by expanding aquaculture operations, rising seafood consumption, and increasing demand for protein-rich, shelf-stable ingredients.

According to the latest industry analysis, the global fish powder market is valued at USD 182.6 million in 2024 and is projected to reach USD 303.1 million by 2034, expanding at a steady CAGR of 6.6% during the forecast period. This marks an acceleration compared to historical growth, reflecting stronger adoption across both animal nutrition and human food applications.

Market Evolution: From Resilience to Acceleration

The global fish-derived powder market was valued at USD 135.1 million in 2019, growing at a CAGR of 5.2% between 2019 and 2023.

While the COVID-19 pandemic temporarily disrupted marine ingredient supply chains and limited innovation in fish hydrolysate and derivative formats, recovery gained momentum from mid-2022 onward. The ability of fish powder products to offer long shelf life, high protein concentration, and easy storage contributed to renewed demand during global food security concerns.

Key Growth Drivers

The fish powder industry is benefiting from multiple macroeconomic and consumption trends:

• Rapid growth in global non-vegetarian populations
• Rising demand for ready-to-eat and convenience foods with high-quality protein
• Expansion of aquaculture and livestock industries
• Increasing government focus on nutrient-dense animal feed
• Growing availability through modern trade and online distribution channels

Fish protein powder (FPP) contains significantly higher protein density compared to fresh fish flesh due to dehydration and concentration processes. This makes it highly suitable for food fortification and functional meal development.

In emerging economies across Africa and Asia, fish powder is increasingly viewed as a cost-effective solution to address protein deficiency and nutritional diversification challenges.

Animal Feed Industry Dominates Application Segment

By application, the animal feed sector accounts for a dominant share of demand, representing 64.5% of total market consumption in 2024.

Fishmeal remains the preferred animal protein supplement in:

• Aquaculture feed
• Shrimp and fish diets
• Poultry feed
• Swine nutrition

Government regulations mandating high-quality feed standards with critical nutrient concentration are further strengthening adoption. As aquaculture expands globally, fish-derived powder is expected to remain a core protein input.

Anchovy Leads by Species Type

Based on fish species type, anchovy-derived fish protein powder holds the largest share, accounting for 34.6% of total revenue in 2024.

Anchovy’s high nutritional value, availability, and favorable processing characteristics make it a preferred raw material. However, utilization of low-value marine by-catch and alternative species such as sand eel, horse mackerel, and hilsa is gradually increasing, which may diversify species share in the coming years.

Country-Level Insights: Growth Momentum Varies

Growth trajectories differ across key economies, reflecting regional consumption patterns and aquaculture expansion.

The United States benefits from its position as one of the world’s largest seafood consumers, second only to China according to the Food and Agriculture Organization. Strong demand for ready-to-eat and protein-enriched foods is supporting steady expansion.

In Europe, Germany is emerging as a key production hub due to rising demand for functional foods and marine ingredients. Growth in poultry and aquaculture feed markets further supports domestic consumption.

China’s market expansion is closely linked to investments in fishing infrastructure and pet food manufacturing. The country also serves as a regional supply base for neighboring Asian markets.

Japan continues to demonstrate strong performance, driven by high seafood consumption and an advanced aquaculture sector.

Among all major markets, India is projected to grow the fastest at 6.7% CAGR. Increasing awareness of marine-based protein benefits, growing disease-related dietary adjustments, and the popularity of species such as hilsa are fueling adoption. Additionally, the rapid expansion of e-commerce platforms has improved consumer access to processed fish powder products.

Innovation and Competitive Landscape

Leading companies are focusing on R&D initiatives, capacity expansion, and sustainable sourcing strategies to strengthen their competitive positions.

In June 2023, Z Natural Foods launched hydrolyzed marine collagen peptide products derived from white fish sources, highlighting growing interest in high-value marine protein derivatives.

Earlier, in 2019, Cargill Incorporated partnered with InnovaFeed to commercialize sustainable aquaculture feed solutions incorporating alternative protein sources.

Key players operating in the fish powder market include:

• Polfish and Oceana Group
• Aksha Fish Meal and Oil
• Austevoll Seafood ASA (Laco AS)
• Omega Protein Corporation
• FMC Corporation
• Croda International Plc.
• GC Rieber Oil
• Rongcheng Hisheng Feed
• Zhejiang FengYu Halobios

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Frequently Asked Questions (FAQs)

How large is the global fish powder market at present?
The global fish powder market is estimated to be valued at approximately USD 182.6 million in 2024, reflecting steady demand across food, feed, and nutraceutical applications.

What is the growth outlook for the global fish-derived powder market?
The market is projected to expand at a CAGR of 6.6% over the forecast period, supported by rising demand for protein-rich and marine-based ingredients.

What will be the market value by 2034?
By 2034, the global fish powder market is expected to reach a valuation of around USD 303.1 million, driven by increasing applications in functional foods and animal nutrition.

What was the historical market size?
In 2019, the global fish powder market was valued at approximately USD 135.1 million, indicating consistent growth over recent years.

Which region offers the highest growth potent

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