Seafood Expo Asia returns to Hong Kong

HONG KONG – Highly regarded as one of the industry’s most influential trade events, Seafood Expo Asia will introduce an expanded programme of special events and networking opportunities when the expos

HONG KONG – Highly regarded as one of the industry’s most influential trade events, Seafood Expo Asia will introduce an expanded programme of special events and networking opportunities when the exposition returns for its sixth edition at the Hong Kong Convention and Exhibition Centre from 8-10 September, 2015.

In 2014, the event welcomed more than 200 exhibiting companies and over 8,600 seafood buyers and suppliers from 71 countries. Aside from providing visitors with the opportunity to taste and explore the finest fish and seafood from different regions of the world, the 2015 exposition organized by Diversified Communications will serve as a professional forum that brings together the entire seafood industry for three days of business, networking and in-depth discussions.

With Hong Kong serving as the gateway to China, the fastest growing aquaculture market in the world, a focus of this year’s event will be to deliver valuable industry insight and facilitate meaningful business introductions to assist overseas companies looking to expand into China’s thriving seafood market which a 2015 Technavio research publication states will be valued at US$ 100 billion by 2019.

“As China’s middle class continues to grow, Chinese consumers are increasingly looking to purchase imported fish and seafood products,” says Ms. Liz Plizga, Seafood Group Vice President for Diversified Communications. “The exposition offers seafood suppliers the opportunity to sell a variety of live, frozen fresh or value-added products to meet this increasing consumer demand.”

According to a 2014 Global Trade Atlas report, China imported US$ 8.4 billion worth of seafood from around the world in 2013, an increase of 8.9% over 2012. A 2014 Euromonitor study also reveals that China’s consumption of particularly fresh fish and shellfish has been steadily increasing in volume since 2008, reaching 36.6 million tonnes in 2013. This equates to a compound annual growth rate of 4.6%.
Apart from offering specialist tastings, master classes and educational sessions, Ms. Terri Tsang, Show Director for Seafood Expo Asia, expresses that in 2015, Seafood Expo Asia will offer a number of new initiatives including special country delegations, business matchmaking, hosted buyer programmes and networking events, that are designed to encourage greater interaction between exhibitors, trade visitors and conference delegates.

“Matching the interests of buyers and suppliers is an important objective of Seafood Expo Asia,” says Ms. Tsang. “We aim to maximise the networking experience of participants at the exposition. For this reason, we are implementing new programmes to provide overseas companies with the opportunity to meet top-level importers and buyers from both China and the Asian region. Conversely, regional seafood producers will be able to connect and build profitable, sustainable relationships with members of the international trade.”

In terms of Hong Kong, Ms. Plizga remarks that the territory is a major buying centre and transshipment point for not only China, but also Southeast Asia. “The presence of a large number of seafood importers, distributors, logistics companies and storage facilities, make Hong Kong an ideal destination for both the import and re-export of high value fish and seafood.”

As an import-dependent market, 95% of the food and beverage (F&B) products consumed in Hong Kong are imported. In fact, according to the Hong Kong Census and Statistics Department, 16% of imported F&B is seafood, much of which is distributed through the territory’s dynamic hotel and restaurant sector that data from Euromonitor reports generated over US$ 12.6 billion in 2013.

“Another trend we are seeing in Hong Kong is the growing popularity of seafood ready meals,” continues Ms. Plizga stating that this development is most prevalent amongst young people who are increasingly relying on these types of meals. “In response, we expect greater innovation within the trade as it seeks to create new recipes and flavour combinations to meet growing demand for convenient meals.”

A further observation is that while both wet market and supermarket sales are increasing, supermarkets are taking a more significant share of total sales with some retail chains in Hong Kong introducing dedicated live fish and seafood counters particularly in their superstores. In parallel, processed, chilled, frozen and canned seafood is becoming more widely available in supermarkets, and as annual seafood consumption per person continues to increase, retail sales of these items are expected to grow.

“According to the Hong Kong Census and Statistics Department, between 2010 and 2014, imported seafood into Hong Kong grew by 20%,” remarks Ms. Plizga. “To help the industry adapt to changing market conditions, we have created special areas within the 2015 event to concentrate on specific sections of the trade from hotel and restaurant chefs, to retailers and supermarkets.”

Ms. Plizga points out that high quality fish and seafood is also not simply a matter of good taste alone. “Given that Asian markets have an insatiable appetite for fish and shellfish, amounting to approximately two-thirds of the world’s total consumption, consumers are looking for good quality seafood that is nutritious, ethically harvested and sustainably produced.”

Given the growing interest around responsibly caught and farmed seafood, industry experts will convene at Seafood Expo Asia to discuss the latest trends, developments and updates on aquaculture sustainability and how to protect the ocean’s health.

Seafood Expo Asia returns to Hong Kong

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Written by Linda Hohnholz

HONG KONG – Looking to capitalize on Asia’s booming seafood market, thousands of buyers and suppliers from around the world will convene in Hong Kong today for three days of business and networking at

HONG KONG – Looking to capitalize on Asia’s booming seafood market, thousands of buyers and suppliers from around the world will convene in Hong Kong today for three days of business and networking at Seafood Expo Asia. After a record-breaking edition in 2013, the exposition returns to reinstate its position as one of the most important events for the seafood industry.

For its fifth edition, the exhibit floor will span more than 2,000 square metres, hosting over 180 exhibitors from 32 countries who will showcase their seafood products, services and processing equipment. Visitors will include buyers from major supermarkets, hotels, restaurants, airlines, cruise lines and contract caterers, as well as international seafood wholesalers, distributors, importers and exporters.

According to Ms. Terri Tsang, Show Director for event producers Diversified Communications, seafood is big business and today represents one of the fastest growing food sectors in the world.

The Organisation for Economic Co-operation and Development (OECD) reports that overall global exports in fishery products peaked in 2013 at overUSD 136 billion, representing an increase of more than 5% over the previous year. A joint report published by the OECD and the Food and Agriculture Organisation of the United Nations (FAO) also predicts that world fish consumption is projected to reach 20.9 kg per capita in 2023, up from an average of 19.2 kg in 2011-13.

Ms. Tsang comments that as cited in a recent World Bank report, seafood-friendlyAsia is expected to make up 70% of global fish consumption by 2030. “The driving force behind the surge in global and regional seafood consumption can be attributed to a combination of population growth, rising incomes and urbanization coupled with strong expansion in fishery production and improved distribution channels.”

Meanwhile, China is expected to increasingly influence the global fish and seafood sector. “This is reflected in a 2014 FAO study on the state of world fisheries and aquaculture which quotes thatChina has not only been the largest exporter of fish and fishery products since 2002, but its imports are also rapidly growing,” continues Ms. Tsang.

The FAO reports that in 2013, China’s trade of seafood products reached a new record, with exports valued atUSD 19.6 billion and imports at USD 8.0 billion. Since 2011,China has become the world’s third-largest importing country after the United States and Japan, with this growth fuelled by the increasing domestic consumption of seafood species not available from local sources.

“To a degree, China has turned from a net exporter of seafood to a net importer as with an emerging middle class, incomes have risen creating a more pronounced demand for premium products such as fresh and smoked salmon, lobster, sea urchin, sea cucumber and abalone,” remarks Ms. Tsang whilst expressing that there is evidence to suggest that seafood consumption is directly correlated to a consumer’s financial wellbeing.

In light of increasing demand in China, Ms. Tsang states that international seafood companies more than ever are eager to reach new customers in this part of the world. “Our reason for hosting Seafood Expo Asia inHong Kong is both because the territory is an important gateway for trade between mainlandChina and the rest of the world, plus it serves as a critical distribution hub through which seafood products are shipped to other key markets inAsia.”

Given it strategic location, regulatory environment, shipping infrastructure and legal framework, Ms. Tsang saysHong Kong has a unique role as an international port for trade in seafood products reflected in research by the Hong Kong Tourism Board which indicates that 30-40% of fish and aquaculture products imported to the territory are immediately re-exported to countries includingthe United States, Vietnam, Taiwan and mainland China.

Hong Kong itself has an insatiable appetite for seafood. With a population of over 7 million and the FAO reporting that the average person consumes over70 kg of seafood every year, consumption in the territory is the second highest inAsia with demand existing for all kinds of fishery products ranging from low-priced fin fish such as croaker and carp to more expensive gourmet delicacies including abalone and lobster.

Due to its high consumption levels and a declining domestic fishing industry, 95% of the seafood consumed inHong Kong is, according to Global Trade Atlas data, imported primarily fromJapan, mainland China, Australia and the United States.

With the world’s population predicted to increase to 8 billion by 2025 necessitating an additional 42 million metric tonnes (MT) of seafood globally by 2030 as quoted in a review by the Irish Sea Fisheries Board BIM, Ms. Tsang confirms that sustainability remains high on the exposition’s agenda for this year.

“It is absolutely critical that we have strategies in place to ensure that this global resource remains healthy and available for many years to come,” asserts Ms. Tsang. “For this reason, we will be hosting a Sustainability Panel at Seafood Expo Asia, one of the objectives of which is to encourage dialogue that promotes a seafood marketplace that is both environmentally and economically sustainable.”

On a global level, Ms. Tsang expresses that consumer tastes and preferences for seafood varies depending on the region. Figures released in 2014 from the FAO reflect that in terms of trade, shrimp accounts for about 15% of the total value of internationally traded fishery products. It is followed by salmon at 14%, ground fish species like cod, hake, saithe and pollock at 10%, tuna at 8%, and cephalopods such as squid, cuttlefish and octopus at around 3%.

Formerly known as the Asian Seafood Exposition, Seafood Expo Asia is taking place in Hall 5 B&C of the Hong Kong Convention and Exhibition Centre starting today until the4 September 2014. Beyond the exhibition itself, the expo will include seminars, a New Product Showcase, a cooking and networking event for chefs, master classes, as well as culinary demonstrations from renowned chefs. The event is also being held in conjunction with Restaurant & Bar Hong Kong,Asia-Pacific’s leading fine dining and bar exhibition.

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Linda Hohnholz

Editor in chief for eTurboNews based in the eTN HQ.

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