Aquaculture production is projected to reach 109 million tonnes in 2030, an increase of 32% over 2018. Fish provides c. 3.3 billion people with almost 20% of their animal protein intake, and aquaculture accounts for approximately 52% of the fish consumed for food. (FAO State of the World’s Fisheries and Aquaculture 2020).
Aquaculture plays a crucial role in global food security, meeting the needs of a growing population for a healthy and nutritious food source. Today, the sector accounts for around 50% of the fish for human consumption and is the fastest growing animal protein industry. This growth is set to continue, driven by factors such as shifting consumer habits, technological innovations and improvements along the value chain.
As the sector grows to feed a human population expected to reach almost 10 billion by 2050, it is imperative that it does so sustainably. This creates a need for solutions that improve sustainability through resource efficiency, reduced environmental impact and improved animal welfare. Benchmark’s solutions, positioned in key stages of the aquaculture production cycle, address these gaps in the industry.
Benchmark has a unique position in the sector with leading market positions and a well-established commercial footprint in three complementary areas with significant barriers to entry. Benchmark is:
- The market leader in salmon genetics across all production paradigms, underpinned by a world-class team of geneticists, 20+ year breeding programmes and biosecure facilities.
- The number one specialist nutrition provider to the global shrimp hatchery market, supported by proprietary technology, expert technical services and local presence in every important shrimp market.
- A ground-breaker in bringing a sustainable solution to sea lice, the biggest biological challenge in salmon production.
We are present in every major aquaculture market and cover the main aquaculture species – salmon, shrimp, Mediterranean sea bass/sea bream and tilapia. This enables us to leverage our knowledge, customer insights and footprint to grow and develop new solutions for the benefit of all our stakeholders. Our broad coverage and collaborative culture enables us to have a bigger impact on the aquaculture industry in our mission to drive sustainability.
Benchmark’s strategic ambition is to be the leading aquaculture biotechnology company driving sustainability. As the only aquaculture biotechnology player with a complementary offering across major farmed species, leading market positions and global capabilities, we are uniquely positioned to achieve this ambition.
Our strategy is aimed at becoming sustainably profitable, creating shareholder value and funding our long-term growth. Our four strategic principles: True to Core, Financial Discipline, Execution and Profitable Growth guide our strategic priorities and decision making. Our strategic priorities are aligned to the significant growth opportunities we have in our established markets and through organic expansion into new areas, species and markets such as shrimp genetics, new sea lice treatments and tilapia.
We act with purpose and are committed to operating in a responsible way. We safely and ethically conduct our activities in ways that respect and support our people, neighbouring communities, suppliers, customers and the environment. We set targets in areas that matter to our stakeholders and are committed to delivering on them. We have an experienced management team with a strong track record and a dedicated, capable team of over 800 individuals powering our business.