The still nascent global seafood sector is highly fragmented across continents and markets, but some companies have emerged as leaders, in one field or across several activities.
It is these companies that Undercurrent News aims to provide an overview of with our latest World’s 100 Largest Seafood Companies 2014 report, by detailing who they are, what they do, while ranking them by the size of their 2013 or latest available turnover figure.
Salmon prices were a major driving force behind this increase — the combined revenues of salmon producers on our report this year are up $2.2bn from our 2012 report, with two new salmon players making it to the ranking.
High shrimp prices also benefited some — Zhanjiang Guolian Aquatic Products‘ revenue jumped 53%, and Minh Phu Seafood was up 23 places thanks to a 41% revenue increase.
Similarly to last year, the ten largest companies – with revenues of more than $2bn each — accounted for over a third ($35bn) of the total revenues and the 25 largest for over half ($57bn).
As in our 2013 report, Japanese companies comfortably dominate with 26 of the companies listed. The US is next largest (11) and Norway third (9), again fairly stable from last year.
However, there are also several changes from the previous report. Looking at the companies’ movements up and down the ranking from the 2013 report illustrates some of the key events and trends that shaped the seafood industry in the past 12 months.
Take for instance the spectacular drop of Pescanova, which, after a year in bankruptcy, has fallen from eighth largest in our 2013 report to 18th largest, and is likely to drop further as creditors and administrators sell off its assets.
Dutch shrimp processor Heiploeg, which was the 100th company in our ranking last year, also fell into bankruptcy, and is now largely incorporated into Parlevliet and van der Plas.
A third company from last year’s ranking went into receivership: Yihe, a US-based salmon processor. The group no longer features on our report as its revenues are thought to now be below the $300m mark.
Other players, in turn, have been incorporated into bigger ones through acquisitions: Morpol is now part of Marine Harvest; American Pride Seafood is now part of High Liner Foods; Copeinca has been engulfed by Pacific Andes; Norway Pelagic by Austevoll Seafood.
Both Maruha Nichiro and Marubeni have acquired smaller players, while Russian Sea Catching has been growing fast, gobbling up Russian pollock catchers, although not yet big enough to feature in this year’s ranking.
(vasep.com.vn) Vietnam is signatory to three new-generation Free Trade Agreements (FTAs), and specifically with the United Kingdom (UK), maintains two FTAs: the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the UK-Vietnam Free Trade Agreement (UKVFTA). The confluence of content and approaches within these two Agreements fosters a conducive environment for enterprises from both nations to maximally leverage trade and investment opportunities, notably encompassing Pangasius exports to the UK.
(seafood.vasep.com.vn) Sao Ta (FMC - HoSE), a key subsidiary of PAN Group, has announced impressive business results for February. The company's shrimp production reached 1,913 tons, a 106% increase compared to the same period last year, while agricultural product production reached 67 tons, up 6%.
(seafood.vasep.com.vn) The tuna export market of Vietnam in the first month of 2025 has seen notable fluctuations. Exports to most major markets have decreased compared to the same period in 2024.
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(seafood.vasep.com.vn) According to data from Vietnam Customs, Vietnam’s pangasius exports in January 2025 reached over USD 133 million, marking a 19% decline compared to the same period last year. Notably, the ranking of the top pangasius import markets saw significant adjustments.
(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.
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