Aker BioMarine is increasing its focus in China with six new agreements and strategic partnerships that will help strengthen the company's position in pet food and supplements in Asia.
Aker BioMarine is entering into the pet food market in China for the first time. During the prestigious CIIE (China International Import Expo) in Shanghai this past weekend, the company signed an important agreement with China's leading producer of pet food, Gambol Pet Food Group. In addition, Aker BioMarine is initiating a partnership with three other Chinese pet food companies. Aker BioMarine's krill meal is on par to become an important ingredient in premium pet food in China.
“China is the world's largest market for marine ingredients and it is an important market for us. The agreement with Gambol is essential to our business as they are one of the most important players in this market. This partnership leverages the credibility and market opportunities in China, and Asia in general, for both of us. If the business development progresses as expected, these agreements alone will make up an important part of our total sales for QRILL Pet next year,” says Matts Johansen, CEO of Aker BioMarine.
Hiring more employees in China
Aker BioMarine is a Norwegian biotech innovator that makes products from krill harvested from Antarctica. The products, that contain large amounts of omega-3, help contribute to better health for both humans and animals all across the globe.
During CIIE, Aker BioMarine also strengthened its relationship with two of its largest Superba customers in China, Function and JE. These agreements are based on Aker BioMarine's dietary supplement products for humans. The company expects to significantly increase sales of Suberba in China next year as a result of these agreements.
Aker BioMarine is committed to having a local presence in China and has been present in the market since 2011.
“Today, we have less than 10 employees located in China, but during the next year, we plan to build up the organization by hiring more key employees. Our team has worked extensively with regulatory approvals and product approvals as well as network building, ensuring that we continue to leverage all of the potential possible in this market.
Aker BioMarine has a broad customer portfolio in the Aquaculture market and these new agreements mark the start of the future here in China for products for humans and pets.
We look forward to the opportunity to invest further in the market,” adds Johansen.
About Aker BioMarine
Aker BioMarine is a biotech innovator and Antarctic krill-harvesting company, dedicated to improving human and planetary health. Listed on Oslo Stock Exchange, the company develops krill-based ingredients for pharmaceutical, nutraceutical (Superba®, NKO® and K·REAL®), aquaculture (QRILL™ Aqua), and animal feed applications (QRILL™ Pet), including INVI™, a highly concentrated protein isolate, and LYSOVETA™, a targeted transporter of EPA and DHA from krill. Aker BioMarine’s fully transparent value chain stretches from sustainable krill harvesting in pristine Antarctic waters through its Montevideo logistics hub, Houston production plant, and to customers around the world. The company’s strong focus on sustainability inspired the launch of AION by Aker BioMarine, a circularity company dedicated to helping companies to recycle and reuse waste. Read more: www.akerbiomarine.com