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Exported technology matches export value of cod fillets in 2018

A new analysis published by the Iceland Ocean Cluster focuses on the seafood tech industry in Iceland and its progress in the last few years. The year 2018 marks the first year when turnover in seafood processing technology, fishing gear technology etc in Iceland matches the export value of cod fillets. This fact shows the opportunities in developing a vibrant industry in various sectors related to the core fisheries; an ocean cluster.

There are around 65 tech companies in Iceland which are exporting processing technology, cooling equipment, turnkey solutions for fish processing on- and off shore, fishing gear, packaging etc. 

The turnover of these 65 companies was around 80 billion ISK (USD 650 million) in 2018.

The ten largest seafood processing tech companies are:

  • Marel                                                
  • Skaginn3X
  • Héðinn
  • Kælismiðjan Frost
  • Valka
  • Vaki
  • Curio
  • Naust Marine
  • Rafeyri
  • Samey

These ten largest had a turnover in 2018 (in seafood related business) of 42 billion ISK (USD 330 million). Some of these companies have grown very rapidly in recent years due to investments in new ships and processing technology in Russia and growth of global aquaculture.  In fish gear, Hampiðjan, a world leader in fishing gear manufacturing, is the largest in Iceland. Icelandic companies in packaging and containers include Samhentir, Promens and Saeplast.

Various start-ups are being formed in „new“ parts of the industry such as traceability, environmental management, artificial intelligence etc. Many of these new start-ups and enterprises have grown fast and may become key players in the seafood industry of the future.