Fish meal and fish oil have historically been the most desirable ingredients for feeding farmed fish. Supply of both ingredients is tightening; meanwhile aquaculture production is on a significant rise. Even with significant research efforts ongoing to reduce the dependence on fish meal for aquaculture diets, the impact of rising fish meal prices on production costs for major farmed species is outpacing the impact of those research efforts. Today, the majority of fish meal replacement options are in their infancies, facing technical hurdles and regulatory challenges. Getting these alternatives to market readiness will be a key rate-limiting step in aquaculture’s future growth. To get ahead of the coming shifts, companies need to find opportunities to quickly examine whether their existing technologies can address the unmet needs of cost, nutrition, and scale for these alternative ingredients.