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Value created from productive oceans in 2050

The potential for increased value creation in Norwegian biomarine industry is huge. In a new analysis says a task force appointed by the two science academies NTVA and DKNVS that it is possible with a turnover of 550 billion in 2050, a sixfold increase from today. The working group consisted of renowned scientists, experienced managers, entrepreneurs and industry players. Scientists at SINTEF and NTNU have penned the report.

The report was commissioned by DKNVS and NTVA (The Royal Norwegian Society of Sciences and letters and the Norwegian Academy of Technological Sciences) and is a follow-up to a report from 1999 where the predictions proved to be correct: At the time it was said that the biomarine industry would represent a total market value about 75 billion in 2010 - the real value proved to be about 80 billion.

The working group expects the global trends such as increased need for food production in general, and increased demand for seafood in particular will contribute to a great increase in the value created in the marine sector in Norway and with Norwegian interests abroad. A prerequisite is that the industry is able to manage the environmental challenges and another that we manage to procure sufficient raw materials. The largest growth is predicted to come within the salmon aquaculture- , supplier- and marine ingredients industry. The value of salmon and trout can reach up to 238 billion in 2050 compared to 34 billion today and marine ingredients industry can reach a market value of 70 billion from the current 5 billion.

The working group comes with clear recommendations that the industry must be prioritized politically in that arrangements are made for good framework conditions and a willingness to invest in the unborn and the nascent industries.

Published 14 December 2012

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Value created from productive oceans in 2050