Markets
Sustainable food production is one of the biggest challenges today
Aquaculture plays a big and increasing role in meeting the global protein demand, which is expected to double by 2050
Source: United Nations, OECD-FAO Agricultural Outlook 2017-2026
Protein demand expected to double by 2050
Fish consumption is growing faster than other protein sources. Aquaculture accounts for 50% of the world's fish used for food.
Benchmark’s large and growing markets
Our markets in genetics, health and advanced nutrition are an critically important component of the production cycle, and are growing faster than the aquaculture industry. They play a fundamental role in addressing the needs of all key stakeholders.
Producers continuous drive drive for productivity, profitability and growth
The most important driver of productivity and profitability for fish and shrimp farmers is biological performance, which combines growth, health and survivability. Benchmark’s products deliver substantial value for our customers.
Growing consumer awareness
Consumers today are increasingly concerned with the use of antibiotics, environmental impact, climate change and fish welfare putting pressure on retailers and producers. Benchmark’s focus on developing sustainable solutions aligns the interests of consumers, retailers and producers.
Increasing regulatory standards
Governments want to ensure that the growing aquaculture sector is sufficiently regulated to address sustainability concerns, while continuing to play a key role in satisfying protein demand and in promoting economic growth. Benchmark’s products and services help our customers grow profitably while meeting the evolving regulatory standards.
Strategy
Benchmark’s vision is to be the leading provider of solutions in aquaculture genetics, health and specialist nutrition.
Today, we are leaders in our markets supported by our innovative products and our global commercial, production and distribution platform.
Our strategy for the next five years has four key areas:
1) Grow in established markets from existing capacity
2018:
- Increased our salmon egg production capacity by 75% through our new facility in Norway and entered into JV with AquaChile. The increased capacity leverages our market and technology leadership in genetics, setting the foundation for future growth
- Identified opportunity to expand our Advanced Nutrition business into the farm segment of shrimp production with our specialist health products and nursery diets
2019 Priorities:
- Full commercial opening of land-based salmon egg production facility in Norway with additional fish brought into the facility in 2019 to ramp up egg volumes
- Development of commercial capabilities to increase penetration of farm segment for shrimp with focus on Asia and the Americas
2) Commercial delivery of pipeline of products
2018:
- Significant milestones achieved in the commercial launch of our next generation sea lice treatment and CleanTreat
- Superior performance in trials of sea bass and sea bream vaccine
Evaluating partnership options for commercialisation of non-aquaculture products in the pipeline
2019 Priorities:
- Continue next generation sea lice treatment field trials with extension into new regions
- Commence additional trials for bivalent and multivalent sea bass / bream vaccines
- Continue development of salmon vaccine portfolio
3) Focussed investment in markets that leverage group platform
2018:
- Successful trials conducted in Thailand and Vietnam for our Specific Pathogen Resistant (SPR) shrimp. SPR shrimp addresses an unmet need for disease resistant shrimp in the market. This initiative leverages our expertise in genetics and our market presence in shrimp.
- Identified probiotics as an opportunity to apply our probiotics expertise in shrimp to salmon and tilapia
2019 Priorities:
- Conduct commercial scale trials for SPR shrimp in five largest shrimp markets in Asia
- Establish logistics chain to commence sales of SPR shrimp into first Asian market
Continue probiotics R&D project
4) Position Benchmark in areas of future growth
2018:
- Continued breeding and genetics programme for tilapia
- We provide genetics consulting services and manage genetic programmes for 12 species
- We continued to develop proof of concept products and platform technologies including oral delivery of vaccines
2019 Priorities:
- Continued development aligned to industry trends and Group priorities
Our products contribute significantly to our customers success
Our markets in genetics, health and advanced nutrition are an critically important component of the production cycle, and are growing faster than the aquaculture industry. They play a fundamental role in addressing the needs of all key stakeholders.
Genetics:
Salmon
85%
reduction in Infectious pancreatic necrosis (IPN) with introduction of QTL
Tilapia
15%
growth gain per generation
