MARKET REPORT 104 FEED & ADDITIVE MAGAZINE February 2026 during the 2026-2036 period, reaching approximately USD 18.2 billion by 2036. The primary driver for this growth is cited as the increasing demand for high-quality protein and functional oils, especially in aquafeed and animal nutrition applications. Mordor Intelligence, which stated that the global fishmeal and fish oil market had a size of USD 9.5 billion in 2025, estimates that the market will reach approximately USD 10.01 billion in 2026. This report predicts that the market will grow at a CAGR of approximately 5.33% during the 2026-2031 period, reaching approximately USD 12.97 billion by 2031. Another report on the global fishmeal and fish oil market is from Research and Markets. This report, dated January 2025, estimates the market was approximately USD 10.33 billion in 2024 and reached the USD 11 billion level in 2025 with a CAGR of 6.5%. The report further forecasts that the market will grow at a CAGR of around 7% during the 2025-2029 period, reaching approximately USD 14.44 billion by 2029. These three market analyses, which provide different estimates, reveal that the global fishmeal and fish oil market has shown growth within a CAGR range of 5% to 8% in recent years. While the current market volume is estimated to be in the USD 8 to 11 billion band according to the reports, it is projected to reach between USD 12 and 18 billion within the next 5-10 years. These varying projections reflect changing growth expectations depending on heterogeneous demand sources, regional dynamics, and product applications (animal feeds, nutraceuticals, functional foods, etc.). FACTORS SUPPORTING MARKET GROWTH The global fishmeal and fish oil market possesses structural growth potential driven by rising demand, despite a supply structure dependent on limited natural resources. The use of these components as feed ingredients is increasing daily, particularly in aquaculture, pet food, and livestock sectors. However, in the fish oil segment, the livestock sector is in competition with human consumption. The widespread use of omega-3-based products in human nutrition is among the other fundamental elements shaping the long-term growth dynamics of this market. The primary factors supporting market growth are summarized below: 1. Growth of Global Aquaculture Aquaculture constitutes the largest end-use area for fishmeal and fish oil. According to FAO data,
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