Trade

Fisheries Development Oman (FDO), the investment arm of the Oman Investment Authority in the fisheries sector, is gearing up to make a significant impact at the Seafood Expo Global, scheduled from April 23-25, 2024, in Barcelona, Spain. FDO is poised to exhibit its world-class pelagic fish operation, aquaculture products, and one of the largest canning and processing facilities in the Middle East, offering a plethora of investment opportunities in Oman’s thriving fishing sector.

Nabil Al Bimani, Group CEO of FDO, highlighted the company’s commitment to sustainability and innovation, stating, “Our presence at the Seafood Expo Global is a significant stride toward positioning Oman as a global leader in sustainable seafood practices and products.”

Sustainability and innovation are the pillars of FDO’s vision, with a focus on responsible fishery and aquaculture practices. Committed to Oman Vision 2040, FDO integrates cutting-edge technologies to ensure environmental stewardship while fostering economic competitiveness and supporting local communities.

Certified for excellence, FDO adheres to strict quality control standards, boasting certifications from industry regulatory bodies such as FDA, ISO, HACCP, and sustainability organizations like Marine Trust and Friends of the Sea.

At the expo, FDO will engage in discussions on sustainable fishing, climate resilience, and traceability, outlining its bold vision for 2028 to contribute to Oman’s economic growth and job creation.

With a strategic focus on expanding into the European market, FDO invites partnerships and investments to bolster Oman’s fisheries sector. Positioned at Hall 1F, Booth No. 601, FDO welcomes industry stakeholders to explore collaboration opportunities and contribute to the sustainable growth of Oman’s fisheries industry.

About FDO:

Fisheries Development Oman (FDO), the investment arm of Oman Investment Authority (OIA) in the fisheries sector, is dedicated to developing this key sector in the Sultanate. FDO seeks to attract investment to local and international opportunities, highlighting the sector’s profitability and sustainability on a global scale while prioritizing environmental preservation and community engagement.

For media inquiries and more information, please contact:

Fisheries Development Oman

E-mail: communication@fdo.om

Website: www.fdo.om

Sustainability: www.fdo.om/sustainability

The global animal feed industry is poised for significant growth, with projections indicating a value of US$ 530.0 billion in 2023, expected to surge to US$ 929.0 billion by 2033, driven by a robust compound annual growth rate (CAGR) of 7.3%.

The surge in demand for animal feed is attributed to various factors, including the increasing world population, particularly the rise of the middle class, leading to higher consumption of meat and dairy products. This trend necessitates more livestock and poultry production, consequently driving the demand for animal feed.

Emerging markets like China, India, and Brazil are witnessing rapid industrialization and urbanization, resulting in a shift towards diets rich in animal protein. This dietary change further fuels the demand for animal feed to support the growing livestock and poultry industry.

Additionally, the expansion of aquaculture to meet the global demand for seafood contributes significantly to the rising demand for nutrient-rich animal feed. Research and developments in animal nutrition highlight the importance of tailored diets for livestock and poultry, enhancing animal health, growth rates, and product quality.

The pet food sector also plays a crucial role in driving the demand for animal feed, with an increasing number of people treating their pets as family members. This trend fuels the demand for specialty pet food formulations catering to the specific dietary requirements of different animal species.

Moreover, advancements in livestock genetics and breeding methods have led to the emergence of high-performance animal breeds with specialized nutritional needs. This has created a demand for customized and specialized animal feed formulations, particularly in the poultry and dairy sectors, to maximize production and performance.

In conclusion, the global animal feed market presents significant growth opportunities driven by factors such as rising demand for protein, aquaculture expansion, and increased awareness of the importance of balanced and high-quality feed formulations.

India sets its sights on scaling up seafood exports to ₹1 trillion within the next two years, aiming to enhance efficiency and diversify product offerings. Despite challenges, the nation has emerged as a leading shrimp exporter, securing a substantial 40% share in the US market, valued at $2.4 billion in 2022-23.

Addressing concerns raised by the Corporate Accountability Lab (CAL) regarding working conditions, a senior official asserts the adherence to world-class quality standards and regulatory compliance. All units are registered with regulatory bodies like the Marine Products Export Development Authority (MPEDA) and the Food Safety and Standards Authority of India (FSSAI), ensuring strict oversight.

Indian seafood production and processing systems undergo rigorous monitoring by regulatory agencies and international inspectors, including the US FDA and European Commission. Compliance with Hazard Analysis and Critical Control Point (HACCP) standards ensures food safety, with a ban on pharmacologically active substances since 2002.

National regulations and monitoring mechanisms, such as the National Residue Control Plan and ELISA screening labs, are in place to prevent food safety hazards. The government has urged the Andhra Pradesh administration to investigate claims of poor working conditions, emphasizing the need to enhance local processing capabilities amidst approximately 100,000 shrimp farms in the state.

India’s commitment to upholding quality standards and ensuring worker welfare underscores its determination to bolster seafood exports while addressing challenges and fostering sustainable growth in the industry.

The frozen seafood packaging market has witnessed remarkable growth in recent years, fuelled by various factors including the rise in demand for convenience foods, the expansion of the seafood industry, and advancements in packaging technologies. This article delves into the key trends, drivers, and opportunities within the frozen seafood packaging market.

According to recent estimates, the frozen seafood packaging market was valued at $16.1 billion in 2024 and is projected to reach $25.68 billion by 2032, with a steady CAGR of 6% during the forecast period. This growth trajectory underscores the increasing significance of frozen seafood packaging in the global food packaging landscape.

The market encompasses diverse packaging types such as bags, pouches, trays, and boxes, all designed to preserve the quality and freshness of frozen seafood products. One notable trend driving market growth is the rising consumer preference for frozen seafood due to its convenience and extended shelf life. The demand for quick and easy meal solutions amidst busy lifestyles has spurred the need for innovative packaging solutions that uphold product quality and freshness.

Moreover, there is a growing emphasis on sustainable packaging solutions driven by consumer environmental consciousness. Packaging companies are responding to this trend by developing eco-friendly packaging materials that are recyclable, biodegradable, or compostable, thereby mitigating the environmental impact of packaging waste.

Several factors propel the growth of the frozen seafood packaging market, including the expansion of the seafood industry and the increasing adoption of advanced packaging technologies. Investments in technologies such as modified atmosphere packaging (MAP) and vacuum packaging help extend the shelf life of frozen seafood products, reducing food waste and ensuring high-quality products for consumers.

Looking ahead, the frozen seafood packaging market presents ample opportunities for growth and innovation. Smart packaging solutions equipped with sensors and RFID tags offer real-time monitoring of product conditions, enhancing product quality and safety. Additionally, there is potential for the development of packaging materials from renewable sources, aligning with the rising demand for sustainable packaging solutions.

In conclusion, the booming frozen seafood packaging market offers promising prospects for industry players worldwide, driven by innovation, sustainability, and evolving consumer preferences.

Norway has unlocked a significant opportunity in the salmon market following the recent signing of a free trade deal with India, one of the world’s largest economies. While salmon may not be a staple in Indian cuisine, the rising affluence among certain segments of the population has led to a growing preference for Western food tastes.

Negotiated through the trade organization EFTA, of which Norway is a key member, this agreement marks a pivotal moment for the seafood industry, according to Seafood Norway, an industry organization.Seafood Norway CEO Geir Ove Ystmark expressed optimism about the potential of this vast market, which boasts nearly 1.5 billion consumers. He highlighted that high tariffs had previously hindered market development and exports from Norway.

“With this agreement, a significant portion of our seafood products will gradually gain tariff-free access to the Indian market,” Ystmark explained. He noted that this development holds particular promise for pelagic seafood such as herring and mackerel.However, Seafood Norway acknowledged that while the agreement is a step in the right direction, there are some companies disappointed with certain aspects of the negotiation, as certain seafood products remain outside its scope.

Despite these challenges, Seafood Norway commended the Norwegian government for its dedication to reaching a favorable agreement with India. Ystmark emphasized the importance of competitive market access for Norwegian seafood products, stressing that such initiatives would not only benefit the industry but also drive progress in other key markets like the EU and Japan.

The industry now looks forward to the opportunities presented by this agreement and anticipates further growth and expansion in both the Indian market and beyond.

The global canned tuna market is on a steady rise, with a forecasted valuation of US$ 8246.7 million by 2030, showcasing a robust compound annual growth rate (CAGR) of 6.2% during the forecast period from 2024 to 2030. This surge is attributed to the growing consumer demand for convenient seafood options.

Canned tuna, a popular choice for its affordability and high protein content, is processed and sealed in airtight containers, making it a convenient and versatile food option. With its mild flavor, canned tuna is favored for its adaptability in various nutritious recipes.

In 2023, the market was valued at US$ 5385.9 million, indicating a substantial growth trajectory. In China, key players like Dongwon Industries and Century/Blue Bay dominate the market, collectively holding around 30% of the market.

Aiming to provide a comprehensive overview of the canned tuna market, a recent report delves into both quantitative and qualitative analysis. It offers insights into market size, sales volume, and revenue projections from 2019 to 2030. The report segments the market based on product type, sales channel, and key players. It also highlights the competitive landscape, technological trends, and new product developments.

This report is beneficial for canned tuna manufacturers, new entrants, and industry stakeholders, providing crucial information on market revenues, sales volume, and average prices across different segments and regions.

With the increasing popularity of canned tuna as a convenient and nutritious food choice, the market is poised for substantial growth in the coming years, offering opportunities for businesses to thrive in the seafood industry.

Request a Sample Copy or Connect for Further Details: https://www.themarketreports.com/report/ask-your-query/1412735

Russian fishermen started fishing very actively since the beginning of 2024, implying that Russian fish catch volumes had a great inflow during this period, as stated by the all-Russian Association of Fisheries Enterprises, Entrepreneurs, and Exporters,(WARPE).

Besides that, 745.9 thousand tons of aquatic biological products have already been harvested on February 19, 12% more than in the equivalent period of last year. The main fishing territory is the Far East (almost 88% of the year). Among the main kinds of fish that have been caught, stock fish is the one that leads in catch volume with a 476.7 thousand-ton volume, a rise of 7.8% compared to the previous year.

After the initial catch of stockfish, the Pacific herring follows with a catch of 114.1 thousand tons, marking the highest growth of 73.4% for the season among the main types of fish caught. On the other hand, cod quantity was 52 thousand tons, which is a slight increase of 0.6% from last year’s data records. The Baltic populations of herring and sprats decreased, with the numbers dropping from 2.7 thousand tons to 5.3 thousand tons.” At the same time, the catch of fish has been steadily improving, while the production of fish products has also been on the rise.

By the end of the period under review, in comparison to the same period last year, it had increased by 15% and reached 485.1 thousand tons. The significant increase in fish harvests reflects the positive and responsive relationship of the Russian fishing industry with the world in 2023.With an emphasis on the capture of Far Eastern waters, it highlights the significance of the whole area in the enhancement of such resource values. Throughout the year, stakeholders closely monitor fishing activities, including catches and launches, to gain insights into the state of the fishing sector.

The demand for seafood in the world is growing faster while sustainable aquaculture is aiding in its fulfillment. Based on a report by the IMARC Group, the global aquaculture market is expected to have steady growth, and the forecasted production volume will be around 116.6 million tons in 2032. This development is propelled by the increasing focus on health benefits of fish and conservation to counter overfishing in the oceans.

Eating seafood is being more appreciated and that is due to the beneficial nutrients such as protein and omega-3 fatty acids which have been proven to be important in preventing heart and brain diseases. The conventional fishing methods being overburdened and the wild fishes running clasps, aquaculture comes as an environmentally viable alternative. It permits us to raise the fish, save the seawater, and consume the seafood sustainably.

The role of technology is crucial in transforming aquaculture into a more efficient and environment-friendly one. Innovations from improved breeding methodologies to smarter disease controls and better water management are seen with a rise in production and reduction of environmental harm. Automation and precision technology tools optimize conditions into ideal fish farming for growth. Moreover, recent technological advances in genetic engineering are developing hardier and faster-growing fish species. Paying more attention to aquaculture is not only a way of balancing demand but also of coping with climate change and resource shortages. Approaches, like the integrated multi-trophic aquaculture (IMTA), and closed systems assist to ease the pressure off the oceans and minimize the damage of the environment.

This brings us to the fact that aquaculture permits the use of land – both arable and non-arable – as well as water that is not suitable for drinking, thus making it a life-saver where water is scarce or traditional farming is not the best option. In fact, sustainable aquaculture is not limited to the mere feeding of the world, but it is the responsible way of feeding the world too. The ever-improving technologies and the environmental awareness are giving aquaculture the leadership towards a healthy future with enough seafood for every seafood lover.

Explore Full Report: https://www.imarcgroup.com/aquaculture-market

Exporters have expressed optimism regarding the measures outlined in the interim Budget, believing that initiatives such as increased capital expenditure, the development of three major economic railway corridors, and a focus on enhancing seafood exports will significantly bolster India’s outbound shipments.

In particular, the government’s proposal to intensify the implementation of the Pradhan Mantri Matsya Sampada Yojana (PMMSY) has garnered attention. This initiative aims to enhance aquaculture productivity from the current 3 tonnes to 5 tonnes per hectare, alongside the establishment of five integrated aqua parks. Such efforts are expected to stimulate growth in the seafood export sector, presenting lucrative opportunities for exporters.

Sanjay Budhia, Chairman of the CII National Committee on Exports and Imports, emphasized the significance of the budget’s allocation of a Rs 1 lakh crore corpus for innovation. This allocation includes a 50-year interest-free loan for long-term financing, as well as provisions for refinancing at negligible or zero interest rates. Budhia believes that these measures will incentivize the private sector to invest in research and development (R&D) and innovation, particularly in emerging domains and new-age technologies.

The announcement of substantial capital expenditure and the development of three major economic railway corridors are anticipated to further augment India’s export capabilities. These infrastructure projects are poised to enhance connectivity and logistics efficiency, facilitating smoother movement of goods across the country and to international markets.

Overall, exporters view the interim Budget as a positive step towards revitalizing India’s export sector and fostering economic growth. The combination of increased investment in infrastructure, targeted initiatives to boost specific industries like aquaculture, and support for innovation and technology development is expected to create a conducive environment for exporters to thrive in the global market.

Tran Quoc Son, a seafood processing expert from Vietnam, has praised the quality of value-added seafood products exported from Andhra Pradesh, stating that they have garnered significant demand both domestically and internationally.

Mr. Quoc Son emphasized the growing popularity of Indian seafood, particularly from Andhra Pradesh, in Vietnam and highlighted the immense potential for value-added marine food products in global markets. During his recent visit to Vijayawada, he urged aqua processing unit leaders in the state to focus on exporting ready-to-eat seafood items to meet this demand.

Conducting a three-day training session for production managers and exporters, Mr. Quoc Son provided insights into the production of value-added seafood items. He commended Sandhya Aqua Products for maintaining high standards of quality and cleanliness throughout the processing chain, from peeling and grading to cooking and packaging.

Impressed by the adherence to standard procedures and cleanliness practices observed by the staff, especially women, Mr. Quoc Son applauded the management of Sandhya Aqua for their commitment to exporting high-quality value-added seafood products.

Mr. Quoc Son’s visit included an assessment of procurement processes, transportation, cleaning, processing, and export procedures. He noted the exemplary practices followed by Sandhya Aqua in these aspects.

In his interaction with the media, Mr. Quoc Son highlighted the popularity of shrimp and seafood items in Vietnam, emphasizing the strong demand for value-added seafood products in Vietnamese restaurants. He also conducted a demonstration for participants at the processing unit, showcasing the potential for producing innovative value-added seafood items.