Aker BioMarine signs strategic partnerships and commercial frame agreement in China

Krill-steam-header

 

Aker BioMarine has a strong commitment and ambitions in the Chinese market. Aker BioMarine attends the CIIE (China International Import Export) expo in Shanghai from 5-10 November, which serves as a platform for expanding the company’s business in China.

 

At CIIE, Aker BioMarine has signed one commercial frame agreement for Superba for 2021, in addition to three strategic partnerships. Two of the strategic partnerships are for Superba, and one for QRILL. The strategic partnerships are defined for China for 2021.

 

A key aspect of Aker BioMarine’s strategy for development of the Chinese marked has been based on having local presence in China. The company established a representative office in Shanghai in 2013, which was expanded into a wholly owned foreign entity in 2017. The local team consists of well-experienced professionals within human health, aquaculture and animal feed industries.

 

China is strategically important for Aker BioMarine to grow within its Ingredients segment. According to the latest GOED (The Global Organization for EPA and DHA Omega-3s) industry report, China’s Omega3-EPA/DHA consumer product market is estimated to be more than 9 billion USD, with an estimated annual growth rate of 9% through 2021. Furthermore, according to Food and Agriculture Organization (FAO), China is the world’s largest aquaculture market with 47.6 million tons, 58% of total global aquatic animal production in 2018. The total aquaculture production in China is expected to reach 60.4 million tons in 2030, an increase of 27 %, according to FAO.

 

“China is fast growing and important market for Aker BioMarine in order to expand the company presence in the Asian region. With our local presence and the new partnership agreements, we are well established to meet our growth ambitions in China,” says Matts Johansen, CEO of Aker BioMarine.

 

For further information, please contact:

Martin Stenshall, Investor Relations

Mobile: +47 47 33 83 31

Email: martin.stenshall@akerbiomarine.com

LATEST FROM AKER BIOMARINE