The aquaculture industry's demand for fish oil and fish meal is growing exponentially.

However, this surge in demand sharply contrasts with the stagnation in the supply of marine raw materials, coupled with the industry's ongoing inability to withstand supply shocks from climate warming and phenomena such as El Niño, leading to an increasingly pronounced supply-demand imbalance.

Fishmeal and fish oil, sourced from wild-caught fisheries, have very limited prospects for supply growth.

As supply remains stagnant while demand continues to climb, the supply-demand gap is expected to widen further.

In recent years, supply disruptions have had an increasingly significant impact on the prices of fishmeal and fish oil.

Looking ahead, fishmeal shortages are expected to first become apparent in 2028, while the scarcity of fish oil will continue to intensify over the entire decade.

As the shortage situation deepens, rigid demand may increase further, leading to heightened price volatility and forming a higher price baseline during future supply shocks.

Currently, most wild fishery resources are nearing their sustainable development limits, and climate change-induced fluctuations in the marine environment are further exacerbating the risk of supply disruptions and the extent of price volatility.