How the Alaskan seafood sector wants to expand footprint in pet food market
The trade association received an injection of $1 million from the US government to expand market opportunities.
The Alaska Seafood Marketing Institute (ASMI), the association that represents the Alaskan seafood industry, has been awarded 2 Saltonstall-Kennedy (S-K) grants from the National Oceanic and Atmospheric Administration (NOAA) Fisheries worth $500,000 (€459,000) each.
The capital will be used to boost applications of Alaskan seafood in the pet food sector through investments in side-stream production and re-shoring value-added processing and neutral storage facilities.
“The grants will allow ASMI to create and develop new marketing materials and resources that will add value and new business opportunities throughout the Alaska seafood industry,” says Jeremy Woodrow, Executive Director at ASMI.
The ASMI is a public-private partnership between the State of Alaska and industry players.
Pet food application
The first grant will focus on increasing the development and marketing of Alaska’s seafood industry and increasing participation in the pet food market.
American pet food manufacturers purchased $893 million (€819.8M) worth of seafood products for cat and dog food use in 2022 alone.
Increased demand for Alaskan seafood in pet food will benefit established treat and pet food manufacturers through wider consumer awareness and new businesses through expanded market opportunities and job growth.
Currently, an estimated 87 Alaskan shoreside facilities process at least 100,000 pounds of seafood annually, while 70 facilities handle over a million pounds.
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