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Adding value through research and innovation

Wednesday 7 December 2016

Under the Business Growth Agenda, seafood’s target is $3 billion by 2025.

But that is way too timid, according to the keynote speaker at the Seafood New Zealand conference in August 2015.

KPMG’s Global Head of Business, Ian Proudfoot, argues we should be aiming at 5 percent of 800 million, and the elite who can afford to pay a premium.  

And we should be aiming for $6 billion, not $3 billion.

Consumers globally are increasingly being influenced by factors such as health benefits, food safety and ethical and environmental credentials of the food they are purchasing.

They want to know where it comes from.

New Zealand sustainably harvests some of the world’s premium seafood and has high standards in getting it to market. But are we doing enough to make the most of what we harvest and to exceed those customer demands?

The seafood industry recognises these challenges and is constantly seeking innovative ways to add value to its products.

An industry-led initiative, Seafood Innovations Ltd (SIL), was established in 2004 as a joint venture research partnership between Seafood New Zealand and Plant & Food Research, with funding from the Ministry of Business, Innovation and Employment (MBIE) to promote research projects that grow the value of New Zealand’s seafood exports.

Our aim is to underpin growth of the seafood export industry by increasing returns from the seafood harvest through developing and commercialising innovative products that appeal to consumers, says SIL’s General Manager, Mike Mandeno.

SIL is there to help take industry from a harvest, pack and ship approach to diversifying into using seafood components for food, health and industrial applications, he says.

There are enormous possibilities by adding value through using every part of the fish and developing new products that are appealing to consumers.

Hoki, squid, Greenshell™ mussels, rock lobster, orange roughy and paua are our main exports today, but tomorrow you could see New Zealand as a key ingredient in benefit plus foods, nutraceuticals and pre-prepared meals around the globe. We’re always looking for great new projects to fund.

If you have an idea or want to know more contact us through our website www.seafoodinnovations.co.nz/.

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