CATEGORY

Sea Food

Global seafood industry is highly fragmented with a supply of approximately 250 million MT of fishes annually . Fish capture over the decade has taken a more inland approach with the major capture type being aquaculture

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    Company
    CARGILL INCORPORATED
    Location
    Jackson, Mississipi
    Duns number
    3862211

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    6 Domains Performance (/100)
    Business behaviour
    38
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    24
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    Industry Comparison
    cargill.com
    Industry average
    Adverse Media Appearances
    Environmental Issues
    23
    Workforce Health Safety Issues
    0
    Product Service Issues
    14
    Human Rights Issues
    23
    Production Supply Chain Issues
    8
    Environmental Non Compliance Flags
    45
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    25
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    5
    Labor Health Safety Flags
    48
    Regulatory Issues
    20
    Workforce Disputes
    6
    Sanctions
    0
    esg energy transition
    47
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    19
    esg controversies critical severity
    Yes

    Sea Food market report transcript


    Global Seafood Market –Overview

    Global seafood industry is highly fragmented with a supply of approximately 170 million MMT of fishes annually (both wild caught and aquaculture)

    sea-food-global-market-size

    • Fish capture over the decade has taken a more inland approach with the major capture type being aquaculture and tuna, shrimp, salmon are the most captured and traded species
    • The share of aquaculture was 31 percent in the total global capture in 2004. Aquaculture currently holds 48 percent share, and is expected to increase its share in the total capture beyond 50 percent by the end of 2021.

    Market Drivers and Constraints

    The important driver for the seafood market is the increasing demand from the frozen ready to cook seafood industry, while the major constraint currently are the disease outbreaks and the costs incurred in ensuring a disease free environment

    Drivers
    Increasing demand for processed/ready to cook seafood: 

    • Seafood industry is gaining momentum due to convenience and time saving factors
    • Increasing disposable income and per capita consumption are also seen favorable for the growth of the industry

    R&D/Technology: 

    • Aquaculture is gaining dominance over traditional agricultural practices, wild fish harvesting, etc., due to its volume production

    Constraints

    Shorter shelf life and disease outbreaks 

    • Disease outbreaks can occur both during raising and processing seafood. EMS or Early Mortality Syndrome had caused substantial decrease in the shrimp production of the leading countries like China, Vietnam, Indonesia, etc.

    Government Regulations: 

    • Every country has its own control mechanism to prevent overfishing and the exhaustion of its resources. Countries like Thailand, China has fishing quotas and licenses in place, with respect to their fisheries and seafood industry

     Tuna Global Production

    • Global Tuna production is expected to touch 5.91 MMT by 2018. Skipjack will account for 58 percent and the demand from the US and Japan seemed to revive in 2017, after a lull in 2016
    • In 2015, the catch of major commercial tunas was 4.8 million tons across the seven major species of Tuna, which is 4 percent decrease Y-o-Y
    • Tuna has faced significant issues corresponding to wild stock preservation, ban on FADs, and limited availability of juveniles would stagnate the growth
    • Production is high, yet the catches have stabilized since the last decade and it is assumed that the Tuna market has reached its maturity; in response, new value-added products are developed to gain market share. Concerns of safety and sustainability issues would continue to pose a threat globally
    • Globally, 52 percent of the stocks are at a healthy level of abundance, 35 percent are overfished and 13 percent are at an intermediate level
    • In terms of exploitation, 52 percent of the stocks are experiencing a low fishing mortality rate, 9 percent are experiencing overfishing, and 39 percent have a high fishing mortality that is being managed adequately