Fish meal is in trouble. Not as an ingredient — it remains one of the most nutritionally complete protein sources in aquafeed. The problem is supply. According to FAO data, approximately 16 million tons of wild-caught fish are used annually to produce fish meal — a volume that has been stagnant for decades while global aquaculture production has grown rapidly. The result: rising prices, tightening supply, and increasing pressure on wild fish stocks that the industry cannot su