Milarex operates within the secondary processing part of the value chain, focusing on salmon value-added products. The company is headquartered in Norway with a factory in Poland and distribution offices in Germany, Italy, UK and France. The factory is one of the world's most advanced salmon processing factories, driven by the company's proprietary know-how and technology. Milarex is a leading global player today, producing more than 17 m kilos of edible products, and is estimated to have a leading cost position.
Key developments in 2019
Milarex has to date delivered a successful ramp-up from both a financial and an operational perspective. In 2019, Milarex grew 10% to SEK 2.3bn in revenues. Production facility is now completed, but has capacity to be expanded further to cater to future growth. Further, the company has experienced strong demand from its customers in new markets (e.g. US, UK, APAC), which represent attractive avenues for growth going forward.
The challenges we face
The world population is estimated to reach 8.3 billion people by 2030, implying a demand for 35% more food than what we have available today1. On a global basis, more than 1.9 million adults are classified as overweight2, representing a need for a healthier diet to combat the disease. Also, of the total GHG emissions that we have today, approximately 14.5% is due to livestock3. These challenges represent opportunities for healthy protein producers, such as Milarex, to step up by increasing volume and improving the efficiency of food production.
What is the outcome?
By providing a safe, healthy, affordable source of food protein (SDG 3)6 and achieving a high ratio of fish-infood-out (yield), Milarex helps cover the world’s growing nutrition needs. Also, replacing other, more carbonintensive, protein sources such as livestock with salmon reduces GHG emissions (SDG 12). Milarex also acts to avoid harm to life below water (SDG 14) by sourcing sustainability-certified salmon. 93% of the company’s raw materials were certified in 2019.
Who are the stakeholders?
Milarex mainly sells its products to consumers through retailers in Germany, Italy, Eastern Europe, UK, US, and other countries. Salmon is a premium protein, increasing the availability through affordable solutions makes salmon more accessible for more consumers.
How big is the effect, and does it last?
Milarex sold around 17 m kilos of edible products in 2019. Going forward, the company expects a continued stable demand for salmon on the back of increasing health and sustainability awareness amongst consumers.
If Milarex didn’t exist…
What differentiates Milarex to its industry peers is its ability to produce high-quality salmon protein with high raw material yields and a stringent approach to food safety at a low cost for the consumers. Thus, by improving consumer access to healthy, safe, sustainable, and affordable proteins, Milarex has a meaningful impact on our society. Further, through selling processed fish with a longer shelf life, and utilizing the whole fish by selling by-products, Milarex contributes to reducing food waste.
Impact risk: what can go wrong?
The quality of Milarex' products is dependent on the quality of sourced raw materials. Though regulation is strict, the industry is still plagued with diseases, sea lice and high fish mortality, which can have negative effects on their surroundings in addition to impacting the quality of the fish meat.
If you want to know more about Milarex please contact Joakim Sundby Johansen at: email@example.com