Speaking at the European Maritime Day in Sweden on May 22, Ewos’ CEO Kjell Bjordal argued that farmed seafood supply must reach 120 million metric tons by 2030 if the industry wants to meet the needs of a growing population. The world’s population is set to reach 8.2 people in 2030, up 17 percent from 7 billion today.
Fish is not only the best poised protein to meet this growing demand, the industry is also able to take on this growth by using substitutes for marine feed and by continuing to innovate, Bjordal said.
According to him farmed fish’s efficiency -- its low feed conversion ratio and carbon footprint -- combined with its healthy attributes mean it will be the winner on the global market. “We believe that the market allocates the raw materials to the most efficient production -- and fish, is the winner,” his presentation read. Carnivorous fish are only a drop in the ocean of farmed fish.
Only 3 percent of global farmed fish are carnivorous, and their production is expected to increase at an annual rate of 3.5 percent, reaching 5.2 million metric tons in 2030, up from 2.6 million metric tons in 2010. In contrast non-carnivorous fish production is expected to grow by 4.8 percent to 149 million fish in 2030, up from 57 metric tons in 2010.
“We can expect [the] percentage of non-carnivore fish ‘on feed’ to increase from 50 percent in 2010 to 80 percent in 2030, Bjordal’s presentation says.
Marine proteins are often cited as the main limitation to expanding aquaculture. While marine proteins can “to a large extent be replaced by vegetable proteins, the “only obvious limitation” consists of marine oils, namely the EPA and DHA fatty acids, Bjordal said.
However, here again there is hope. “We now have the technical capability to grow salmon on zero marine raw material,” even though the solution is not commercial viable at this stage, he said.
His comment referred to the industry’s progress in using oil from omega-3 rich algae to replace marine raw material. However, this technique is still relatively expensive compared to using fish oil.
In the future, the industry will look at solutions such as genetically modified vegetable oils, omega-3 producing micro-organisms and “harvesting oceans down the chain” to increase supply of the valuable fatty acids, Bjordal said.
This refers to the possibility of using algae as a potential future substitute for fish oil. Ewos is notably behind a project called CO2Bio which aims to take purified CO2 from the industrial site of Mongstad in Norway to cultivate algae.
(seafood.vasep.com.vn) According to a report by the General Statistics Office, the estimated pangasius output for January 2025 reached 102.5 thousand tons, representing a 6.0% increase compared to the corresponding period of the preceding year. This surge is attributed to the rise in pangasius material prices within the Mekong Delta, which has incentivized aquaculture farmers to expand their stocking activities. Concurrently, this price increase has facilitated processing enterprises to intensify procurement efforts to meet export demands during the early part of the year.
(seafood.vasep.com.vn) Between 2015 and 2024, Vietnamese pangasius exporting enterprises have undergone notable transformations in rankings and experienced fluctuations in developmental strategies, competitive intensity, and business efficacy. This dynamic is clearly illustrated through shifts in export turnover and the proportional contribution to the national pangasius export volume among the Top 5 enterprises.
(seafood.vasep.com.vn) The outlook for Vietnam’s seafood exports remains positive, with a strong focus on maintaining growth in key markets like China and the U.S., while diversifying into new regions. As global trade policies continue to evolve, adaptability and strategic planning will be key to navigating the challenges ahead.
(seafood.vasep.com.vn) Thanks to improved pangasius prices and higher production, Vĩnh Hoàn's after-tax profit in Q4 2024 reached VND 440 billion, a 4.8-fold increase compared to the same period last year.
(seafood.vasep.com.vn) According to data from Vietnam’s Customs, in Q4 2024, Vietnam’s pangasius exports to China & Hong Kong reached USD 163 million, a 17% increase compared to the same period in 2023, with consistent growth across all months. The total value of pangasius exports to China & Hong Kong for 2024 reached USD 581 million, a 1% increase over the previous year.
Vietnam’s seafood exports are projected to maintain strong growth this year, potentially reaching 11 billion USD.
(seafood.vasep.com.vn) In the final quarter of 2024, Vietnam’s surimi and fish cake exports showed consistent growth over the last three months. For the entire year 2024, exports of these products reached USD 298 million, down 2% compared to 2023. However, the final quarter saw more promising signs for the surimi and fish cake export sector, with some markets experiencing notable growth, such as Thailand, China, and Taiwan. Particularly, exports to Taiwan, which had seen continuous declines in the previous two quarters, surged by 301% in this quarter.
(seafood.vasep.com.vn) Another year of pride for Vietnam's pangasius exports has concluded, reaching over USD 2 billion and contributing 20% to Vietnam's total seafood export turnover.
Vietnam maintained its position as the fifth-largest seafood exporter to Singapore for 12 consecutive months, surpassing Japan for the first time in 2024, amid the intensifying competition in this market.
(seafood.vasep.com.vn) Despite facing numerous challenges in the second half of the year, Vietnam's canned tuna exports concluded 2024 with a 17% increase compared to 2023, reaching USD 299 million. To maintain this growth momentum in 2025, the canned tuna production and export sector requires coordinated efforts from all stakeholders.
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