MSC Global Market Value Nears $1 Billion
Marine Stewardship Council yesterday announced that the retail value of seafood products bearing the MSC eco-label is approaching $1 billion. This marks the second consecutive year of growth of around 100 percent in market value.
Demand for MSC-labeled products has exploded in the past year, reaching 1,600 products in June, representing 250 million items of labeled product sales. When the program started, it took seven years to reach 500 products. Nine countries, including Hong Kong, Argentina, Russia, Namibia and Malaysia, began carrying MSC products in the past year.
By the end of April the number of fisheries coming into full assessment also increased by 165 percent. Now there are 105 certified fisheries or fisheries in assessment, and five more are due to enter full assessment within two weeks.
"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," says Rupert Howes, MSC CEO. "The MSC program … 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 program."