This section provides general market data on marine ingredient production, both from wild caught and by-products, along with data on how marine ingredients are used. IFFO members can find more detailed data and market analysis on the production of fishmeal and oil, consumption, prices, competing proteins and oils, as well as information about land animals, farmed fish production, and feed production, via our members area. 

Marine ingredients production

Fishmeal and fish oil volumes stabilised at around 6 million metric tonnes (mt) per annum from 2000 onwards (roughly 5 million tonnes fishmeal, 1 million tonne fish oil). In recent years, thanks to better fishery management and new investment, global annual supply has been consistently above 5.1 million mt for fishmeal and 1.2 million mt for fish oil. 

On average, Peru roughly accounts for 20% of global fishmeal and fish oil production. Peru’s 2023 fishing activities were heavily affected by the El Niño phenomenon, with the cancellation of the April-June 2023 fishing season in the North-centre, and a lower-than-average fishing quota for the last quarter of the year. This resulted in reduced fishmeal and fish oil production including in the first 2 months of 2024.

Marine ingredients demand / uses

The use of marine ingredients has changed markedly over the last sixty years. Initially, fishmeal was predominantly used in pig and poultry sectors. In the 1980s, there was the emergence of the aquaculture industry, which began to use increasing amounts more competitively and took a greater market share.

Now we see over 75% of all fishmeal is used by the sector, close to some 4 million tonnes of fishmeal. Petfoods by contrast are in the “other” category as a minor user. Fish oil by contrast was originally used for industrial purposes as a lubricant and fuel, before the omega-3 value of the fish oil saw it increasingly sought by the growing aquaculture sector. Around the 1980’s we also saw the emergence of the direct human consumption sector, mostly through nutritional supplements like fish oil capsules. However this has really only taken off in recent times and is becoming an increasingly important part of the sector.

Click here to access our technical analysis of marine ingredients usage over time.