For the aquaculture industry, things have rarely been better. Globally, demand for seafood is rising to such an extent that the sector has been expanding by an average of nearly six percent annually, outpacing all other food segments. In Northern Europe, where the industry is particularly strong, exports have been rising rapidly to keep pace. The value of Norway’s seafood exports was up five percent year on year in 2018.
But what’s good for investors’ pockets is not always good for the planet. As seafood companies enjoy record gains, concerns are growing over the impact that they are having on the environment. Carbon emissions, antibiotic resistance and biodiversity loss are just a few of the most pressing issues. However, with the money rolling in, it can be difficult to apply the brakes.
According to a recent report, aquaculture seafood produced in fish farms has now overtaken wild fishing as the world’s main source of seafood. Partly, this is the result of a growing global population, which has created more mouths to feed. It also reflects changing dietary habits: seafood is viewed as a healthier source of protein compared with meat, and demand has soared as a result. Aquaculture firms have been quick to respond, modernising their operations to meet customer needs.
WNM