Aquaculture Market

According to the United Nations Food and Agriculture Organization (FAO), “while aquaculture production (excluding aquatic plants) was less than 1 million tonnes per year in the early 1950s, production in 2008 was 52.5 million tonnes, with a value of US$98.4 billion. Aquaculture continues to be the fastest-growing animal-food-producing sector and to outpace population growth, with per capita supply from aquaculture increasing from 0.7 kg in 1970 to 7.8 kg in 2008, an average annual growth rate of 6.6 percent." 

Population growth, increased health awareness in the developed world, and the increased purchasing power of developing economies are all contributing to greater seafood demand. The depletion of wild stocks due to overfishing and failed management practices in the capture industry leave aquaculture as the only obvious alternative to meet the demand for seafood.

Eighty-two percent of the world fish stocks are overexploited, depleted or endangered, while demand for fish protein is exploding. With the world population expected to reach 9 billion by 2050, demand for critical sources of protein continues to outstrip supply. Aquaculture provides a means of partially meeting this demand, but we cannot expect to feed a burgeoning global population without employing every tool at our disposal, including enhancing aquaculture productivity through genetic engineering.

AquaBounty’s objective is to contribute to increasing aquaculture productivity in an efficient, safe and sustainable manner to meet the demand for high quality seafood from a growing world population.

USDA Salmon Imports - 2010
FAO Report, "The State of World Fisheries and Aquaculture 2010."