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2023. Aquaculture expansion and slight increase in catches

Rabobank's Global Animal Protein Outlook 2023 anticipates a year of change for the global animal protein industry

Editorial staff by Editorial staff
December 13, 2022
in Aquaculture, Fishing, Innovation, Players
Reading Time: 2 mins read
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2023. Aquaculture expansion and slight increase in catches – While 2023 is expected to see modest growth in global animal protein production, next will be another year of change for the sector. The industry will face high costs along the entire supply chain, fluctuations in consumption, high disease pressure and regulatory changes. Reduced margins are expected as a result, but opportunities still exist, according to Rabobank’s Global Animal Protein Outlook 2023.

The Global Animal Protein Outlook 2023 highlights growth for value-for-money products, and new opportunities for efficient producers and processors, and agile businesses.

“Some animal protein companies will see 2023 as a year to recalibrate their expectations and growth plans,” says Justin Sherrard, Global Strategist – Animal Protein. “Some companies will maintain a short-term focus and strengthen agility so that they can follow cyclical changes. Other animal protein companies will focus on long-term growth and start investing and positioning for the future given the structural changes ahead.”

The overall trend for 2023 is for a further slowdown in production growth, with small increases in some regions but declines in others for major terrestrial species. Slow growth is expected in China across all species groups and continued growth in Brazil and Southeast Asia. Oceania will record slow growth, while North American and European production will contract.

Aquaculture is once again driving global growth across species groups, and its continued expansion is supported by its relative independence from agricultural commodity prices. Poultry is expected to maintain its steady growth pattern, wild catches of fish are expected to increase slightly, beef production will decrease slightly and pork will decline.

According to the Global Animal Protein Outlook 2023, for salmon, a strong retail presence will support prices in 2023, despite weakening macroeconomic fundamentals.
Shrimp supply remains strong, despite lower prices and higher costs. Ecuador and Latin America are expected to continue to lead the supply of farmed shrimp in 2023.

2023. Expanding aquaculture and slight increase in catches

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