The Great Britain pair frustratingly had to settle for fourth place in a high-quality 10m competition.
The Olympic bronze medallists had qualified for the final in second spot, scoring 433.14 points in the prelims.
However, they were not able to hit the same heights in the final, collecting 418.02 points.
A disappointing fifth dive cost them any hopes of a medal, with the Chinese, Russians and Germans all producing impressive displays.
The Chinese pair of Aisen Chen and Hao Yang totally dominated the competition and scored an incredible 498.48 points.
Russian’s Aleksandr Bondar and Viktor Minibaev took silver with 458.85 points, with Germany’s experienced pair of Patrick Hausding and Sascha Klein winning bronze with 444.82 points.
“There were lots of positives that we can take from the competition,” said Daley. “We are pretty happy overall.”
Goodfellow added: “I think following on from winning a medal in Rio, we always approach a competition expecting a medal. We know we can get medals. You saw our prelim performance and it was really good.
“It’s a shame one dropped dive across the prelims and final cost us the medal.”
Daley and Goodfellow still have other chances to pick up a medal.
Goodfellow will compete in the team event with fellow former Plymouth diver Robyn Birch, while Daley will compete in the both the men’s 10m individual event and mixed three-metre competition at the end of the week.