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 AquaHealth 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
Markets
Sustainable food production is one of the biggest challenges today
Benchmark addresses this challenge by delivering solutions that improve the sustainability and profitability of aquaculture producers. Aquaculture is playing an increasing role in meeting the global protein demand.
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 to improve yield and profitability
Producers are continuously focussed on improving their yield and profitability. This can be achieved through superior growth and lower mortality which our products across genetics, nutrition and health are focussed on delivering. The increasing trend towards consolidation and professionalisation in the industry is resulting in producers seeking and embracing technology rich solutions.
Consumer growing awareness
Consumers are much more focussed on understanding how the food they purchase is produced. They are particularly concerned with use of antibiotics, environmental impact and animal welfare. At the same time, they continue to look for quality and value putting pressure on retailers, and ultimately producers. Our commitment to sustainability and the performance of our products support producers in meeting this challenge.
Increasing regulatory standards
Governments are increasingly focussed on ensuring the growing aquaculture sector is sufficiently regulated to address concerns around climate change, impact on the environment, antibiotic resistance and animal welfare. Regulation will continue to play a central role in the future development of the industry.
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
