Aquaculture used an extra 357,000 tonnes of fishmeal last year
Sector consumed 92% of the fishmeal sold in 2025, with almost half of that going to China
Demand from the expanding aquaculture sector was responsible for 96% of a 372,000-tonne increase in fishmeal consumption last year, members of marine ingredients organisation IFFO have been told.
The sector consumed 92% of the 5.8 million tonnes of fishmeal sold last year, and 72% of the fish oil, IFFO market research director Enrico Bachis said in a presentation to the organisation’s annual conference in Buenos Aires, Argentina, this week. Nearly half (47%) of the fishmeal used in aquaculture went into aquafeed in China, which also takes 47% of world fishmeal imports overall.
Bachis said that since 2015, fishmeal use in aquafeed has risen by 56%, while fishmeal in pig feed has fallen by 69% and use in poultry feed has declined by 56%.
Overall consumption of fish oil grew by 9% last year, although total use remained 6% below 2022’s peak. Aquaculture demand accounted for virtually all of last year’s increase.
Salmonids consumed 60% of the fish oil used in aquafeed last year.
Globally, fishmeal and fish oil exports increased by 11% and 19% respectively last year, led by anchovy fishing nation Peru, which increased fishmeal exports by 29% and fish oil exports by 53%.
“There was huge growth in exports from emerging origins such as India and Oman, showing how globalised this industry is becoming,” Bachis said.
Beyond feed, the increased use of fishmeal in petfood slowed to 3% last year, and fish oil for human consumption was 15% below its 2023 peak.
Shrimp production
Along with finfish, demand for fishmeal and fish oil continued to be driven by shrimp producers.
Andrés Carrión, of Ecuadorian marine ingredient trading company Likefish, told the conference: “Almost one of every two shrimp global comes from Ecuador, and all these shrimp need feed. Ecuador has seen double digit growth almost every year since 2015.”
He added that Ecuador’s shrimp exports had increased from 450,000 tonnes in 2015 to 1.45 million tonnes in 2025, accounting for 36% of the global shrimp trade. Nearly half of that volume (49.4%) goes to China, 20.2% to Europe, and 17.7% to the United States.
With projections for 2030 reaching 2 million tonness of shrimp production and 2.7 million tonnes of aquafeed, demand for marine ingredients is expected to remain robust. Fishmeal use in shrimp feed in Ecuador in 2025 was calculated by Likefish at between 162,000 and 203,000 tonnes, based on 1.4m shrimp, a feed conversion ratio of 1.45, and average and maximum inclusion rates of 8% and 10% respectively. The Ecuadorian shrimp industry used 31,400 tonnes of fish oil, based on 1.5% inclusion.
Carrión’s presentation stated that more than 1 million tonnes of fishmeal – 25% of the annual global volume – was used to feed farmed crustaceans in 2024.
“Market conditions are playing against marine ingredient inclusion rates. With high prices and low availability driving reduction in inclusion rates, we need to sell the benefits of marine ingredients,” Carrión told the conference.
“However, marine ingredient demand is set to be robust over the next few years in Ecuador, and it represents an important commercial opportunity for marine ingredient suppliers, with a reliable supply playing a key role in supporting the sector’s continued growth.”
Record attendance
IFFO’s three-day conference attracted a record attendance of 530 delegates from 45 countries. The agenda covered key industry priorities, including navigating geopolitics, fishery management, and responsible sourcing requirements, as well as deep market analyses.
Closing the event yesterday, IFFO director general Petter Martin Johannessen said: “One message is clear: in a changing and uncertain world, our industry must stay resilient. That resilience comes from good science, strong collaboration, continued innovation, and the responsible use of marine resources.
“Over the past three days, we have heard how important science-based fisheries management remains. We have also seen the value of working together across the whole supply chain. Responsible sourcing, circularity, better use of resources, and value creation are all part of our contribution to future food and nutrition needs. By continuing to share data and remain open to scrutiny, the IFFO membership helps build trust and supports informed discussion.”
