Welcome to 2022! The only prediction I can make with 100-percent accuracy is that it will be another exciting year for the seafood industry.
Climate change, unfortunately, kicked off the year with another algal bloom, this one wiping out nearly 800,000 farmed salmon in Chile.
M&As also hit the ground running. In the US, we've already seen seafood supplier Fortune International and foodservice giants Chef's Warehouse and HF Foods Group make acquisitions in the sector.
Faroese salmon farmer Bakkafrost acquired Denmark-based Munkebo Seafood, and two interesting acquisitions from Thai Union Group and Russian giant Norebo indicate a change in how companies think about the supply chain.
The new year is a time when retail and foodservice customers juggle suppliers, particularly ones that couldn't (or wouldn't) fill orders. Retail giant Costco is the latest to make a major shift.
The seafood industry isn't know for its marketing prowess, but this new US campaign has proven more successful than other seafood marketing initiatives. Its creators explain why.
While fresh and frozen seafood are having their time in the sun, canned seafood is far from dead. Mitsubishi-owned Princes Group saw its earnings rocket 52 percent as COVID lockdowns in the UK sparked a jump in retail sales.
Meanwhile, the United Kingdom’s largest seafood processor, Young’s Seafood, also had a great year.
The CEO of shipping conglomerate Stolt-Nielsen lamented missed opportunities in aquaculture. At one point, the group was one of the world's largest salmon farmers, and now the frustrated top executive wonders why its remaining aquaculture operation -- a land-based flatfish producer -- can't get investor traction after 30 years in business.
Speaking of land-based. Yellowtail farmer The Kingfish Company continues to show investors that salmon farming isn't the only game in town. Meanwhile, salmon leader Atlantic Sapphire is really, really hoping for a better year.
Bakkafrost is also hoping for a turnaround. The company's losses in Scotland in the past few months alone reached $27 million, due to ongoing biological issues.
Yes, plant-based and alternative seafood will be big this year again. The first US-produced plant-based salmon burger hit the shelves; this 3-D printed salmon nabbed a major new retail listing, and one of the US stalwarts in crab cakes just launched a plant-based version.
For the seafood industry, it's trade show season, and in years past, executives would be packing their carry-ons and hitting the road. But with omicron raging, does the industry want to make the headlines for a super-spreader event?
Make sure you catch up on the stories that mattered in 2021. We'll be rolling those out over the coming days. We tracked a stunning 300 career changes among top executives in our People roundup, and offered an overview of what mattered in the aquaculture feed sector here.
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Have a great week ahead.
