Global Plant-Based Fish Feed Market Size, Share, Analysis, Forecasts, 2034

Plant-based Fish Feed Industry Prospective:

The global plant-based fish feed market size was worth around USD 8.18 billion in 2024 and is predicted to grow to around USD 15.04 billion by 2034, with a compound annual growth rate (CAGR) of roughly 6.28% between 2025 and 2034.

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Plant-based Fish Feed Market: Overview

Plant-based fish feed is considered a more sustainable alternative to traditionally used fish feed. Plant-based versions of food for marine animals are made using plant ingredients such as corn gluten and soybean. The demand for plant-based fish feed is growing rapidly across the globe, influenced by several factors.

For instance, according to market research, plant-based fish feed allows industry players to deliver environmentally friendly and economical substitutes to animal-based fish feed, which is generally derived from wild-caught fish.

Furthermore, the rising number of options available in the market has created more growth opportunities as end-user awareness has improved. During the projection period, the market players are likely to continue introducing new solutions in the market to diversify their product portfolio and meet the expectations of a growing consumer group. However, the plant-based fish feed industry faces challenges due to the presence of a more mature and robust market for traditionally used fish feed.

Moreover, plant-based fish feed is more challenging to produce due to the complexities associated with the production process and claims of limited nutrition provided by plant-based alternatives.

Key Insights:

• As per the analysis shared by our research analyst, the global plant-based fish feed market is estimated to grow annually at a CAGR of around 6.28% over the forecast period (2025-2034)
• In terms of revenue, the global plant-based fish feed market size was valued at around USD 8.18 billion in 2024 and is projected to reach USD 15.04 billion by 2034.
• The plant-based fish feed market is projected to grow at a significant rate due to the rising demand for seafood worldwide.
• Based on the type, the soy-based segment is growing at a high rate and will continue to dominate the global market as per industry projections.
• Based on the distribution channel, the offline stores segment is anticipated to command the largest market share.
• Based on region, Asia-Pacific is projected to dominate the global market during the forecast period.

Plant-based Fish Feed Market: Growth Drivers

Cost benefits of fish feed derived from plants to propel market expansion rate

The global plant-based fish feed market is expected to be driven by the economic benefits associated with the products available in the market. Plant-based fish feed is more cost-effective than traditionally used fishmeal since the former is produced using readily available resources such as soybean and corn.

On the other hand, animal-based fish meal requires extensive investments in financing fishing activities across oceans and other forms of large-scale water bodies.

Since the cost of per-unit production of plant-based fish feed is relatively more affordable, it allows industry players to invest in mass-scale production facilities, further ensuring a consistent supply of the final products to the end consumers.

Advancements in plant-based fish feed products to encourage the entry of new players in the market

In recent times, investments in research & development (R&D) of novel offerings in the market have increased. These investments have resulted in the production of new and improved plant-based fish feed, offering excellent nutrition conversion value and easier digestibility.

For instance, in December 2024, the Indian government announced the launch of a new revolutionary product at the Global Bio-India event. The product is called Bio Guru 3F Pro: Bio-fermented Fish Feed and is created by Translational Research and Innovations at BSC BioNEST Bioincubator. It is a vegan fish feed that aims to encourage cruelty-free aquaculture.

Growing volatility in the supply of animal-based fish feed to promote industry revenue

The global plant-based fish feed market is expected to generate exceptional returns on investment due to market players seeking alternatives to animal-based fish feed as the latter have registered growing volatility in terms of pricing, quality, and availability.

Data showcasing the impact of overfishing have raised concerns among fish feed seekers, encouraging investments in the development of novel alternatives to conventional fish meal.

Plant-based Fish Feed Market: Restraints

Tough competition from the traditional fish feed industry to limit market expansion rate

The global industry for plant-based fish feed is expected to be restricted due to the tough competition the market faces from the existing sector of traditionally used fish feed. Conventional food for aquatic animals enjoys the perks of an existing and high-functioning supply chain and a production cycle.

Furthermore, traditional fish feed is a legacy item that has already proven beneficial for the aquaculture industry as it delivers the desired nutrition to marine creatures. Plant-based fish feed is an emerging sector and may face growth limitations in the coming years due to restricted awareness and acceptance in the end market.

Plant-based Fish Feed Market: Opportunities

Shifting focus toward sustainable practices in the fish farming sector to create growth opportunities

The global plant-based fish feed market is expected to generate significant growth opportunities due to the shifting focus toward adopting sustainable practices during fish farming. Traditional food ingredients for fish are known to have several environmental impacts.

For instance, fish feed obtained from wild fish can lead to the depletion of marine resources and also cause overfishing, affecting the marine ecosystem. In addition, capturing wild fish for producing feed can result in the capture of unwanted fish species and disturb the natural habitat.

As the awareness of the environmental effects of traditional fish feed continues to grow, the demand for plant-based fish feed is likely to generate higher popularity.

In October 2024, Hatch Blue, a leading venture capitalist firm focusing on sustainable aquaculture investments, announced that it had closed its Blue Revolution Fund (BRF) at EUR 93 million. The venture capitalist firm will use the fund to restore marine ecosystems in the coming years.

Additionally, the rising rate of technological innovation assisting in the mass-scale production of plant-based fish feed will also be crucial to the market’s overall expansion rate.

Plant-based Fish Feed Market: Challenges

Excessive dependence on plant ingredients will emerge as the most critical challenge for the industry

The global plant-based fish feed industry is projected to be challenged by the excessive dependence of the market on the supply of plant ingredients.

However, climate changes, natural calamities, and other supply chain disruptions can affect the final quantity as well as the quality of the ingredients, putting industry players at risk of not matching customer expectations. Furthermore, plant-based fish feed can also promote deforestation and other environmental concerns, according to research.

Plant-based Fish Feed Market: Report Scope

Plant-based Fish Feed Market: Segmentation

The global plant-based fish feed market is segmented based on type, distribution channel, and region.

Based on the type, the global market segments are algae-based, soy-based, pea & lentil-based, corn & wheat protein, yeast & fungi-based, and others. In 2024, the highest revenue was observed in the soy-based fish feed due to the high protein content of the main ingredient.

Moreover, the soy production rate worldwide has grown exceptionally well in the last few years. According to official findings, India produced nearly 14 million metric tons of soybeans in 2022-2024. Algae-based fish feed is gaining higher growth momentum at present times and will continue the trend in the coming years.

Based on the distribution channel, the plant-based fish feed industry segments are offline stores and online stores. In 2024, the highest growth was listed in the offline stores segment. The rising footfall in supermarkets & hypermarkets, as well as specialty stores, will generate higher segmental revenue according to industry-based analysis. The online sector has high growth potential with the rising launch of fish feed products on e-commerce platforms with a broader reach. The general rule of fish feeding allows 0.25 to 2% of fish body weight to be fed per day.

Plant-based Fish Feed Market: Regional Analysis

Asia-Pacific to hold the highest growth potential during the forecast period

The global plant-based fish feed market will be led by Asia-Pacific during the forecast period. Countries such as Japan, China, India, and South Korea, among others, will play a crucial role in shaping the regional market. One of the prominent reasons for the higher growth potential of Asia-Pacific is the presence of a massive aquaculture industry in the region.

China, for instance, is reported to be the leading player in terms of fish farming in the regional as well as global market. The country produced over 50% of farmed aquatic animals in 2020.

Several Asian countries have a fish-rich diet culture, which is enjoyed on a global scale, according to recent statistics, thus creating excellent opportunities for the sale and production of plant-based fish feed.

Europe is another prominent market and will deliver considerable revenue by the end of the forecast period. European countries are seeking sustainable alternatives in the aquaculture industry as they aim to restore marine ecosystems. Countries such as France, Germany, the UK, and others have shown greater inclination toward plant-based fish feed since these items are more eco-friendly. Additionally, regional players invest heavily in developing novel fish feed solutions using plant ingredients to mitigate food supply chain issues and ensure food security among the regional population.

Plant-based Fish Feed Market: Competitive Analysis

The global plant-based fish feed market is led by players like:

• Maschinenfabrik Reinartz GmbH
• Cargill Aqua Nutrition
• Prairie AquaTech
• ADM Animal Nutrition
• Duynie Ingredients
• Skretting
• BIOMIN Benelux
• Kemin Industries
• Calysta
• MJI Universal
• Green Plains
• Aller Aqua
• Roquette
• Diana Aqua
• BioMar

The global plant-based fish feed market is segmented as follows:

By Type

• Algae-Based
• Soy-Based
• Pea & Lentil-Based
• Corn & Wheat Protein
• Yeast & Fungi-Based
• Others

By Distribution Channel

• Offline Stores
• Online Stores

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa