Cargill Inc. is scouting for deals to access the $400 billion global fish market, reports Bloomberg.
The company, which already makes fish feed, now wants to produce and process seafood products, Chief Executive Officer Dave MacLennan said in an interview. The Minneapolis-based firm, which splashed out $1.5 billion in 2015 to buy Norwegian salmon-feed maker EWOS AS, is now in search of new deals.
Fish consumption is growing at a faster pace than any other protein including beef, pork and poultry, driven by an expanding and increasingly prosperous global population that recognizes the health benefits of eating seafood. More than half of the fish consumed these days comes from aquaculture.
