18 B u s i n e s s p l a n | F i s h m e a l a n d f i s h o i l p r o d u c t i o n Aquaculture continues to be the fastest growing animal food-producing sector and to outpace population growth. It supplies more that 50 percent of all seafood produced for human consumption – that percentage has been and will continue to rise. The traditional fisheries are producing near their maximum capacity. The future increases in seafood production must come largely from aquaculture. Global aquaculture demand was 69,230 thousand MT in 2013 and is expected to reach 80,400 thousand MT by 2020. The aquaculture industry turnover is expected to reach $202.96 billion by 2020 (Grand View Research). China is the largest market for aquaculture, accounting for about 53% of global market share, valued at USD 77,934.8 million in 2013. The market is expected to show rapid growth due to favorable climatic conditions for aqua farming, availability of resources and labor. Asia Pacific (excluding China) was the second largest market for aquaculture with market demand of 17.965.2 kilo tons in 2013, and is estimated to grow with a CAGR of 2.1% from 2014 to 2020 due to ideal climatic conditions and technological innovation in this region. Aquaculture is no different from any other terrestrial farming activity in that production is totally dependent upon the provision and supply of nutrient inputs. Feed inputs may include the use of industrially compounded aquafeeds, farm-made aquafeeds, or the use of natural food organisms of high nutrient value. Therefore, fishmeal and fish oil are quiet necessary for aquaculture feed industry, with demand growing at 8% annually. The forecast of thee demand for fish meal is that it will nearly double by 2025, creating a yearly shortage for over one million tons (Lux Research). AQUACULTURE Figure 17. Aquaculture farm Market analysis So, the fishmeal import potential in pork production industry in China is 2,34 million MT, while current import amount is 1 million MT. R E C A P : But the supplies of these ingredients are finite. Sustainable production from well managed fisheries had a ceiling of about 5 million МТ of fishmeal and 1 million MT of fish oil per annum. The could face a shortfall of fishmeal and fish oil for feed as early as 2016, and demand could outpace fishmeal supply by up to 16 million metric tons in 2025 (Lux Research).
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