Welcome to 2022! The only prediction I can make with 100% accuracy is that it will be another exciting year for the seafood industry.
Climate change, unfortunately, kicked off the year with yet another algal bloom, wiping out nearly 800,000 farmed salmon in Chile.
Mergers and acquisitions have also been initiated. In the United States, we’ve seen seafood supplier Fortune International and restaurant giants Chef’s Warehouse and HF Foods Group make industry acquisitions.
Faroe Island salmon farmer Bakkafrost has acquired Danish company Munkebo Seafood, and two exciting acquisitions by Thai Union Group and Russian giant Norebo signal a shift in the way companies view the supply chain.
The New Year is a time when retail and restaurant customers juggle suppliers, especially those who can’t (or won’t) fill orders. Retail giant Costco is the latest to make a major change.
The seafood industry isn’t known for its marketing prowess, but this new US campaign has proven to be more successful than other seafood marketing initiatives. Its creators explain why.
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While fresh and frozen seafood takes its time in the sun, canned seafood is far from dead. Mitsubishi-owned Princes Group saw profits rise 52% as UK COVID lockdowns sparked an increase in retail sales.
Meanwhile, the UK’s largest seafood processor, Young’s Seafood, also had a great year.
The CEO of maritime conglomerate Stolt-Nielsen lamented the missed opportunities in aquaculture. At one point, the group was one of the largest salmon farmers in the world, and now the frustrated top executive is wondering why his remaining aquaculture operation – a land-based flatfish producer – can’t attract investors afterwards. 30 years of activity.
Speaking of land. Amberjack Farmer The Kingfish Company continues to show investors that salmon farming isn’t the only game in town. Meanwhile, salmon leader Atlantic Sapphire is really, really hoping for a better year.
Bakkafrost is also hoping for a turnaround. The company’s losses in Scotland in the last few months alone have reached $ 27million, due to lingering biological problems.
Yes, plant-based and alternative seafood will still be important this year. The first plant-based salmon burger produced in the United States has gone on sale; this 3D printed salmon landed a major new retail list, and one of America’s mainstays of crab cakes just launched a plant-based version.
For the seafood industry, it’s trade show season, and in years gone by, executives packed their carry-on luggage and hit the road. But with omicron raging, does the industry want to grab headlines for a super-spreader event?
Make sure to keep up to date with the stories that mattered in 2021. We’ll be releasing them over the next few days. We followed 300 amazing career changes among senior executives in our People Summary and offered an overview of what matters in the aquaculture feed business here.
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Have a good week ahead.