|
The
Global Aquaculture Market
Commercial
aquaculture is the most rapidly growing segment of the agricultural
industry, accounting for more than $60 billion in sales in 2003.
While land-based agriculture is increasing at 2 per cent to 3
per cent per year, aquaculture has been growing at an average
of 9 per cent per year since 1970. The traditional fishery harvest
from the ocean has not increased in volume since 1990 (Source:
FAO).
Population
growth, increased health awareness in the developed world and
the increased purchasing power of Asian economies are contributing
to greater seafood consumption, which is expected to match the
consumption of all other categories of meat products before 2020.
According to the UN’s Food and Agriculture Organisation,
there will be a 70 per cent increase in global demand for seafood
between 1990 and 2030. Aquaculture food production will need to
increase by 600 per cent in order to meet this increased demand.
Aqua Bounty
Technology’s fundamental objective is to increase productivity
in the aquaculture industry which is especially important since
the world’s oceans have reached their capacity to produce
seafood and will be unable to meet future demand. The Company
is seeking to accomplish its objectives in an efficient, safe
and sustainable manner, lowering the cost of goods for producers
and consumers alike with products that also limit the impact of
the industry on the environment.
|
