The global market valuation was determined by monitoring production volume and conducting revenue triangulation throughout the value chain, from fisheries to end-users. The methodology comprised the following:
Identification of 35+ significant fishmeal manufacturers and fishery conglomerates in Peru, Chile, Norway, the United States, Thailand, and Vietnam, including dedicated fishmeal producers and diversified seafood groups with rendering operations.
Product mapping for the whole fish-based meal, bycatch-derived meal, and seafood processing waste categories, segmented by protein content specifications (low-protein <60%, standard 60-65%, high-protein >65%). An examination of the reported annual production capacities and fishmeal-specific revenues of companies such as Austevoll Seafood, Omega Protein, Copeinca (Austevoll), TASA, Pesquera Diamante, and Nutreco's marine ingredients division
Manufacturers that account for 75-80% of the global fishmeal production volume in 2024 are included in the coverage.
Derive segment-specific valuations for aquaculture feed, livestock feed, and fertilizer applications through extrapolation using bottom-up (global fish catch data × fishmeal yield rates × ASP by exporting country) and top-down (IFFO global production estimates validated against company-level revenue aggregation) approaches.