The Marine Stewardship Council (MSC) estimates seafood sales of products carrying its sustainability logo increased to $8.4 billion in the financial year to March 31 2018, up from $5.6bn it estimated for the financial year prior.
In its annual report, MSC said it calculates the retail market value of consumer-facing MSC eco-labeled products by adding a global average 40% retail mark-up to wholesale values. In 2017-18, 912,785 metric tons of MSC-labelled products were sold, it estimates.
In 2017-18, 3,795 additional lines adopted the MSC logo globally, with Germany leading countries by the number of products carrying the eco-label, followed by the UK. In total, MSC licensed its logo for use on 28,520 products.
The boost in sales of MSC products comes as the organization faces criticism it has pursued growth at the expense of standards; claims it fiercely refutes. In 2017-18, MSC broke the 10 million-metric-tons mark for global catch certified with its sustainability standard or 13% of the total global marine catch.
"We unashamedly want to scale the MSC program," said Rupert Howes, chief executive of MSC in the annual report. "Not for its own sake, but because MSC certification, through the engagement and leadership of our partners, is a driver and an indicator of positive change."
MSC aims to certify 20% of global marine catch by 2020 and 30% by 2030, a goal it describes as “ambitious”.
The London, UK-based organization saw income generated from licensing its logo increase 20% to £18.2m in the financial year to March 31, 2018. Total income rose 25% to £24.9 million. Other income was largely from donations, at £6.0m.