The potential for sustainable value creation in the ocean is vast. Today, only 2% of the aggregated food production comes from the ocean. In 2050 it is estimated that there will be roughly nine billion people on earth, and we need about 70% more global food production. In order to meet the need for a healthy diet we have to invest in products and processes that are environmentally sound and provident, which includes products and food from the ocean.
Biological limitations will keep fish catching from increasing. This is why we are expecting the wild catch to stagnate and the prices to increase. The supply is powered by quotations and catch, but partly also by the price of food and oil. Aquaculture must prepare to cover future food demands. All continents have showed a general development of an increasing trade of fish farming production in the total fish production, while wild-caught seafood is a limited resource and the volume has decreased. Salmon farming is expected to grow by 5,7% annually, with the world's aquaculture production of fish accounting for 46% of the total production in 2015. It is expected that the percentage of fish from aquaculture will have surpassed wild caught fish by 2023.
Significant investments in equipment is necessary for the seafood industry to grow and to become more professional. Technological development and new solutions increase the demand for more sophisticated equipment. Cflow has a unique international position as a supplier for live-fish handling solutions and is in the lead when it comes to supplying integrated solutions and technology development. The environment and welfare of the fish is a constant focus in the development of new equipment.
We have invested in both highly qualified personnel and equipment that will ensure that Cflow is a contender in driving the industry forward. We are doing everything we can to contribute to a collaborative culture between different actors and we will work to ensure sustainable development in the industry.
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