Catching up with latest developments in the aquaculture sector

Driven by rising demand and the need for more sustainable practices, the global aquaculture sector is undergoing many rapid changes. PETS International explores some of the latest happenings in this industry, including acquisitions, initial public offerings (IPOs) and new product launches from North America and India to Africa, the Middle East and Europe.

The North America scene

One of the latest developments in the field happened last February when pharmaceutical company Elanco Animal Health Incorporated announced its intentions to sell its aqua business to Merck Animal Health for $1.3 billion (€1.2B) – 7.4 times its estimated revenue in 2023.

The Indiana-based firm wants to refocus on pet health and livestock sustainability while accelerating its debt payments. For Merck, the acquisition means cementing its position as a “leading” aqua health business.

Interest in Indian business

In the same month, Indian fish processing firm Mukka Proteins made its initial public offering (IPO) debut. The fish oil exporter’s IPO opened to strong demand and was subscribed 2.47x on the first day of bidding. The company manufactures fish protein products and supplies fishmeal, fish oil and fish soluble paste – an essential ingredient in the manufacturing of aquafeed and pet food.

South African perspective

South African biotechnology company Maltento announced its plans to focus on the pet food and aquaculture sectors following its $3.3 million (€3M) fundraiser in July last year.

“We believe that our functional ingredients that are derived from black soldier fly (BSF) add value to the wellness of pets and pet/aquaculture fish species,” the company’s Commercial Director Dominic Malan tells PETS International.

Malan highlights that the company has developed a palatability enhancer that “improves the feed response for companion animals and elicits a more aggressive feed response from fish”.