October 2013
| Business World Magazine | 103
Over the last three decades, aquaculture
production has experienced annual com-
pounded growth of almost 9% distin-
guishing it as the fastest growing of any
food production enterprise, exceeding
all other forms of food source operations
which include conventional agricultural
practices as well as the harvesting of wild
fish. With data indicating that more than
87% of global capture fisheries are either
fully or over-exploited, aquaculture is ad-
vancing to fulfill the global demand for
seafood, and studies show as much as 50%
of market sourcing currently comes from
aquaculture. By 2020, it is anticipated that
aquaculture will fulfill upwards of 62%
of the global market supply according to
the Food and Agriculture Organization of
the United Nations. While that industry
has grown along with consumer demand,
so too has the demand for sustainability.
Many retailers and restaurants, driven
largely by demand from consumers, have
begun exercising greater caution in their
sourcing from industry suppliers, choos-
ing to source only from those providers
who have demonstrated adherence to best
practices in term of operational quality
and environmental sensitivity.
Since 1997, the non-profit, non gov-
ernment organization known as the
Global Aquaculture Alliance (GAA) has
