The estimated retail value of seafood products bearing the Marine Stewardship Council (MSC) logo is now approaching one billion US dollars annually – the second year-on-year growth of around 100% in market value.
The size and growth of the market for MSC certified and labelled seafood is a glowing testament to the strategic engagement with sustainability being made by fisheries, seafood companies, retailers, and foodservice around the world.
That growing commitment is illustrated by the growth in the number of products bearing the MSC label. It took seven years to reach 500: last year saw them take off – growing at well over 100% to exceed 1,000 individual labelled products in less than a year. The market demand for MSC labelled products shows no sign of slowing down – crossing 1,400 by the end of March 2008 and 1,600 by the end of June 2008. In total, this represents about 250 million items of labelled product sales over the year to March 2008.
There are now 36 countries where MSC labelled products are available – 9 more than this time last year including Hong Kong, Argentina, Russia, and Namibia, with Malaysia joining this ever growing list in June 2008. Key markets where MSC labelled products are really making headway include Germany with retail sales of MSC labelled products of over USD 270 million; the USA with retail sales of more than USD 220 million; and the UK with a retail sales value of approximately USD 140 million.
At the same time that demand for MSC labelled products is seeing dramatic increase, the supply of certified fish is set to continue its growth. In the year ending April 2008, the number of fisheries coming forward into full assessment grew more than 165% taking the total number of fisheries certified or in assessment to 94. Today that figure now stands at 102, with five more fisheries lined up to enter full assessment over the next two weeks.
Rupert Howes, Chief Executive of the MSC, said: “It is tremendously encouraging to see this extraordinary level of growth in the sustainable seafood market. Major seafood buyers around the world are increasingly demanding genuine, third party assurance of the sustainability of their seafood choices with full traceability throughout the supply chain. The MSC programme, which is fully consistent with the criteria set down by United Nations Food and Agriculture Programme for credible marine certification and labelling programmes, provides that assurance and this consistent market growth suggests that the MSC eco-label is fast becoming a global symbol of trust and credibility that delivers real market benefits to all partners involved in the programme. ”
