Food and Beverage Industry Sustainable Seafood Market | Page 3

Friend of the Sea (FOS) or Sustainable Fisheries Partnership (SFP) for
certifications. For instance, in 2016, 14 fisheries were FOS certified while 16 tuna
fisheries are MSC certified.
 Although the penetration rate of sustainable sea food is low in the APAC region,
high production of fish and aquaculture in this region is expected to play a major
role in the growth of the market. According to EU, in 2015, the total production of
fishery and aquaculture products in the Asia region reached 149 million tons and
accounted for 74% of the global market. Economies such as China, India,
Indonesia and Japan remains the primary markets with high growth opportunities
whereby in 2015, China was the key leading producer of fishery products globally
and represented around 53% of the market. However, factors such as lack of
awareness along with lack of stringent forms related to overfishing stands to be
one of the major roadblocks being faced in the region.
 According to Ministry of China, around 13.28 million tons of fish were caught from
the country’s coastal ground, which is far more than the permissible limit of eight
to nine million tones. Hence, proper regulations are required to ensure
sustainability of the marine ecosystem. In China, high consumption of sea food
along with factors such as high population, changing consumer preferences such
as focus on quality of food and health is further expected to drive the market
growth. As a result, economies such as China are now focusing on increasing
awareness and plans to introduce stringent laws, which are expected to drive
growth of sustainable seafood market. In 2017, the government of China planned
to reduce China’s fishing policy by 15% by 2020, with 20,000 lesser vessels along
with restricting the catch to 10 million tones. Furthermore, Marine Stewardship
Council (MSC) holds the Sea Food Week annually to increase awareness in the
country. Similar initiative was launched by the organization in Australia in 2018,
supported by brands such as Ikea, Coles and John West. Furthermore, India
contributed around 3% of the global production of fishery and aquaculture products
in 2015, according to EU stands to be another key market with high opportunities
of growth for sustainable seafood market. In 2017, the MSC awarded funding of
around US$ 58000 to WWF India for promoting sustainable fishery practices in the
country with the support of the Central Marine Fisheries Research Institute.
 Key manufacturers operating in the global sustainable seafood market include,
M.F. Foley Company, Inc., Zoneco Group Co., Ltd, Walker Seafoods, Nippon
Suisan Kaisha, Ltd, Thai Union Group, Maruha Nichiro Corporation, Austral
Fisheries, Pacific Andes Group, Marine Harvest ASA, AgriMarine Holdings,
Kyokuyo Suisan Co., Ltd., Mitsubishi Corporation, and others.
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