n n n ‘. concat(e. i18n. t(“search. voice. recognition_retry”),’n
In this article, we move on to talk about the 20 largest seafood corporations in the world. You can skip our in-depth research on the global seafood market and seafood industry sustainability and skip straight to the world’s five largest seafood corporations. .
More than 3 billion people worldwide depend on fish and other seafood for their important nutrients, and the fisheries and seafood sectors employ between 10 and 12 percent of the global workforce. The fishing industry is an economic driving force in its own right, as noted. in the United States, generating more than $200 billion in profits annually, with imports accounting for more than double exports. According to NOAA, about 2. 4 billion pounds of seafood was exported from the U. S. to the U. S. In 2020, 6. 1 billion pounds of seafood from other countries ended up on U. S. plates. Commercial agriculture, processing, retailing, and harvesting of marine food resources are really important assets for regional and local economies.
The size of the global market for seafood was $310.75 billion in 2021, and it is expected to rise from $333.25 billion in 2022 to $605.46 billion by 2029, exhibiting a CAGR of 8.92% during the forecast period. The primary growth factors fueling this industry are – the rising demand for seafood that has been processed or is ready to cook, the increasing inclination toward pescetarianism adoption, etc.
The COVID-19 pandemic was exceptional and startling for the seafood sector, with demand for seafood exceeding expectations in every region when compared to pre-pandemic levels. The data indicates that in 2020, the market expanded by 12.34% compared to 2019.
Seafood that is considered sustainable is defined as having been fished in the wild or farmed and harvested in a way that safeguards the ocean’s biodiversity and the health of the local ecosystem, communities, and wildlife, preventing the extinction of marine life.
Having a less negative effect on the ecosystem, aquaculture (fish farms) has been shown to be favorable compared to wild-caught shellfish. This is evidenced by the growing proportion of cultivated aquatic creatures that feed directly through humans – around 50% today. However, aquaculture can have fatal consequences if not properly planned or maintained. Nearby rivers, lakes, and other water resources can be destroyed by diseases and pollutants from fish farms. Fisheries can get rid of fish waste and save it. enter nearby waters by employing appropriate filtration systems or fishing systems away from surrounding ecosystems.
Despite paying special attention to unsustainable practices such as overfishing, the unintentional capture of marine life in fishing nets, water pollutants from poorly controlled fish farms, and the use of wild fish as feed for farmed fish, sustainable fisheries demand environmental and economic justice for communities. that count on the fishing industry. Improved technical advances, such as electronic tracking devices installed on vessels, could provide the data needed through regulatory agencies and scientists to assess the effectiveness of sustainable fishing methods.
Illegal fishing, which can account for up to 30% of catches of high-value species, is strongly linked to overfishing. Tens of billions of dollars move through invisible chains of origin through this widespread practice, which damages the environment and financially harms legitimately exploited fisheries. Future technologies, such as synthetic intelligence (AI), may make it less difficult to find and hint at seafood that travels abroad for processing before returning to the United States.
The ecological effect of seafood is also influenced by the duration of the fishing operation. Since 2012, aquaculture has surpassed the capture of seafood from natural sources. The U. S. company responsible for protecting and managing marine and coastal ecosystems, the National Oceanic and Atmospheric Administration said in a 2022 report that populations of the most overfished species fell to a record low in 2017.
Sysco Corporation (NYSE: SYY) is a U. S. seafood wholesale giant with more than a decade of sustainability experience. Since 2009, the company’s commitment to seafood has resulted in the acquisition of approximately 700 million pounds of more sustainably farmed seafood and has replaced the restaurant industry’s global footprint when it comes to ocean health. By the end of 2019, 79% of Sysco Corporation’s (NYSE: SYY) five most important farmed species and 99% of the company’s five most important species were more sustainably sourced.
It is with wonderful enthusiasm that Sysco and WWF announce a renewed collaboration to source seafood more sustainably, as well as their seafood sustainability commitments by 2025. The new commitments build on past accomplishments and the Houston-based company’s position as a global authority on sustainable seafood. , setting key criteria for the fishing industry, creating long-term sustainability goals, and building visitor confidence. For all of its seafood, Sysco Corporation (NYSE: SYY) will restrict the sale of all threatened or critically endangered species and will continue to paint with WWF.
Kyokuyo Co. , Ltd. (TYO: 1301. T) is another fishing company that takes sustainability seriously. Given the considerations on the preservation of marine resources, the fishing of bluefin tuna, a form of tuna highly valued by the Japanese and considered a luxury product, is internationally regulated. To start raising bluefin tuna, the company founded Kyokuyo Marine Farm Co. , Ltd. in Kochi Prefecture in 2007. He founded Kyokuyo Nippai Marine Co. , Ltd. (now Kyokuyo Feed One Marine Co. , Ltd. ) in Ehime Prefecture in 2012. Commercialize bluefin tuna farming throughout its life cycle, from fingerling production to fish farming and sale, to meet market demands while addressing the depletion factor of marine resources and minimizing the impact. Kyokuyo Co. , Ltd. (TYO: 1301. T) has shipped its Hon-Maguro no Kiwami TUNAGU Full Life Cycle Bluefin Tuna product for the first time.
Since 2006, when the Kyokuyo Group began processing MSC/ASC qualified products, the quantity and variety of fish recorded has been gradually increasing. It provides internal education to the responsible user on the type of express fish and product that must be registered, as well as those who deal with buying and selling, when handling qualified items. The first component of this course covers the importance of protecting biodiversity and making effective use of marine resources. It also teaches how those qualified products increase the company’s price and a sustainable society.
That said, here are the most important seafood products in 2024.
We settled on the 20 most sensible fishing corporations based on their annual profits for 2022. For the personal corporations on our list, we estimate their earnings by comparing them to public corporations of the same length and in the same sector. that we have taken into account conglomerates that, although they are not purely specialized companies and do not derive the maximum benefit from seafood, have a significant impact on the sector.
By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a similar consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
Revenue in 2022: ~$1. 58 billion
Comprising subsidiaries such as Heiploeg and Ouwehand, Parlevliet & Van der Plas is one of the largest fishing companies in Europe. PP Group was founded as a shipping company and now operates seafood enterprises and processing plants in the Faroe Islands, Morocco, the Netherlands, Germany, France, and Lithuania. Furthermore, the business holds shares in the seafood market of the UK, France, Spain, Portugal, Poland, the Ivory Coast, and Madagascar, among other nations.
Revenue in 2022: ~$1. 6 billion
Despite the demanding situations resulting from the global economic recession, Astoria Pacific remains steadfast in its commitment to the distribution of seafood products, including frozen, salted and new fish, among other seafood products. Furthermore, since its founding in 1941, the company has been one of the world leaders in the fishing industry.
2022 Revenue: ~ $1.7 billion
Founded in Taiwan in 1972, FCF Co. , Ltd. (FCF) is a privately held global long-supply chain supplier for marine products, with a specific focus on tuna. FCF has been promoting and marketing tuna products for 50 years. To meet the desires of its consumers, the company has established more than 30 subsidiaries, fishing sites and shipping agencies around the world.
As a pioneer in the field of sustainability, traceability, and FAD-free fishing methods, the firm collaborates extensively with governmental and non-governmental entities to guarantee the environmental sustainability of tuna stock and marine life products worldwide.
Revenue in 2022: $1. 85 billion
Kyokuyo Co. , Ltd. (TYO: 1301. T) is one of the leading fishing and fishing companies in Japan. They have a reputation for being leaders in sustainable and environmentally friendly skipjack fishing, with over 2,112 workers. Products qualified through the Marine Aquatic Stewardship Council (MSC), Aquatic Stewardship Council (ASC) and Marine Ecolabel (MEL) are presented through Kyokuyo.
2022 Revenue: $1.92 billion
SalMar is a leading manufacturer of salmon with 100% sustainable feed and 173,500 tonnes of gutted weight harvested in total in 2020. In 1991, they recruited more than 1,700 people and incurred significant expenditures on salmon aquaculture plants on land and sea. The company uses non-GMO feed and does not rely on threatened or endangered fish stocks.
Revenue in 2022: ~$2. 2 billion
Seafood products such as shrimp, catfish, cod, haddock, swordfish, halibut, perch, haddock, salmon, scallops, mussels, squid and imitation crabs are exported, processed and distributed through Red Chamber Co. , a private company that has grown from a small business to one of the largest and best-equipped seafood producers in the United States.
Revenue in 2022: ~$2. 6 billion
With more than 9,000 workers and projected profits of $2. 6 billion in 2022, Trident Seafoods is among the largest privately owned and family-owned fishing corporations in the world. Headquartered in Seattle, Washington, the company prides itself on its long fishing history and strong relationships with fishermen, and is famous in the industry for being one of the most morally driven fishing companies.
Revenue in 2022: ~$2. 8 billion
Founded by Canadians in 1985, Cooke is a family-owned business that began as an independent aquaculture corporation but over time has grown into a large-scale global fishing corporation. Wild seafood accounts for approximately 40% of Cooke’s seafood business. Currently, the corporation ships more than one billion pounds of seafood to 67 countries and employs more than 10,000 people worldwide.
2022 revenue: $2. 94 billion
Nomad Foods, a British company, is the market leader in frozen foods in Europe and owns many well-known brands, including Iglo, Findus and Birds Eye. Although it was founded in 2015, it wasn’t long before it ranked among the largest seafood companies. Companies.
Turnover in 2022: 2,980 million dollars
Austevoll is a well-known seafood company in Norway, showcasing its line of products including fish oil, omega-3 oil, fishmeal, frozen fish, and canned fish. It carries out maritime activities in the fields of fisheries, products for human consumption, and the extraction and processing of fishmeal and fish oil. In addition, the company raises, processes and distributes trout and Atlantic salmon.
Revenue in 2022: $3. 04 billion
Bolton is an Italian family-run multinational group that has spent more than 70 years creating and selling a wide variety of cutting-edge, environmentally friendly branded goods. It creates and distributes luxury brands and food items of the highest caliber. Not only is it Italy’s top producer of canned fish under the Rio Mare and Palmera brands, but it leads the European canned tuna industry as well. Rio Mare is a global brand that is available in 40 countries, many of which lead their respective markets.
2022 revenue: $4. 1 billion
Agrosuper, a privately held meat, seafood, and processed foods corporation founded in Chile, generated $4. 1 billion in profits in 2022. Founded more than 65 years ago as an egg supplier, Agrosuper has grown to become one of the largest manufacturers of animal protein in Chile. . . The company also sells salmon, in addition to chicken, pork, and turkey.
2022 Revenue: $4.36 billion
Thai Union Group is a Thailand-based seafood company that is widely recognized for its international brands in the canned tuna market. The Dow Jones Sustainability Indices (DJSI), 2022 placed Thai Union Group PCL at the top of the global food industry ranking. The company’s dedication to sustainability has led to its listing on the DJS for nine years running. In addition, the group’s effectiveness in achieving the Sustainable Development Goals (SDGs) of the United Nations has earned it a second consecutive ranking of #1 on the Seafood Stewardship Index (SSI).
Revenue in 2022: $4. 77 billion
Denmark is one of the world’s leading exporters of seafood, and Schouow, a publicly traded company based in Aarhus, Denmark, was founded in 1878. It employs approximately 15,000 people and is also a major supplier of advertising fish feed.
2022 Revenue: $5.21 billion
Nissui Corporation supplies a wide diversity of seafood products, adding new and frozen seafood, canned fish, fish oils, and fishmeal. This makes Nissui one of Japan’s largest seafood corporations internationally.
Click to continue reading and be informed about the five largest fishing corporations in the world.
Suggested Articles:
Top 25 Most Consumed Fish in the U. S.
Fish Consumption by Country and Consistent with Capita: Top 20
20 countries with the best food in the world
Disclosure: None. Top 20 Largest Seafood Companies in the World is originally published on Insider Monkey.