DNV Forecasts Exponential Growth in Global Aquatic Product Output by 2050

According to a recent report compiled by DNV (Det Norske Veritas), a renowned maritime classification society, global per capita demand for aquatic products is projected to continue rising, resulting in exponential growth in production by 2050. This forecast carries significant implications for the seafood industry and the sustainability of food supply chains worldwide.

The DNV report examines the interplay between the value chains of aquatic products and other food systems, the interaction between food security and the increasing supply-demand imbalance in different regions, as well as the correlation between sustainable feed requirements and the robust demand for food supply. These factors collectively contribute to the projected exponential growth in aquatic product output.

By 2050, the report predicts that the total production of aquatic products, encompassing both aquaculture and wild-caught fish, shellfish, and mollusks, will increase by approximately 20%. Specifically, the Norwegian company forecasts an annual production volume of 160 million tons of seafood by the mid-century, including both legal and unreported catches. Aquaculture production is expected to nearly double, reaching 59 million tons.

DNV further forecasts that by 2050, the global population is estimated to surpass 9 billion, with the highest per capita demand for aquatic products in Southeast Asia. Marine and freshwater aquatic products are projected to account for over 30% of the total protein consumption.

The analysis highlights a 33% growth in overall aquatic product demand by 2050, compared to a 30% growth in meat consumption. DNV suggests that there will be no significant changes in protein consumption patterns or widespread shifts towards seafood in global diets. Consumption trends vary significantly across regions, with Europe predicted to witness a decline in meat consumption and an increase in fish consumption, while Latin America is expected to experience substantial growth in meat consumption compared to fish consumption.

Additionally, the report anticipates that by 2050, 12% of finfish aquaculture will be derived from land-based facilities utilizing technologies such as Recirculating Aquaculture Systems (RAS), and another 7% will come from nearshore facilities in open seas.

DNV's forecast of exponential growth in global aquatic product output by 2050 underscores the increasing demand for seafood and the need for sustainable practices in the seafood industry. As the global population continues to grow, it is crucial to ensure the long-term viability of aquatic ecosystems and responsible aquaculture practices to meet the rising demand for protein-rich aquatic products.