Royal Greenland targets New Asian markets with focus on value-added products and greenlandic heritage
Royal Greenland, renowned as the world’s largest producer of coldwater shrimp and Greenland halibut, is taking bold steps to recover from two consecutive years of losses and set a path to profitability. As part of its strategic efforts, the company is focusing on expanding into new and emerging markets in Asia, which have shown significant potential for growth in seafood consumption. At the same time, Royal Greenland is intensifying its emphasis on value-added products, which are expected to yield higher profit margins and appeal to evolving consumer demands for convenience, quality, and sustainability. The company is also proudly highlighting its Greenlandic roots, capitalizing on its strong heritage as a symbol of authenticity and the pure, sustainable practices that define its products.
The company’s ambitious goal is to achieve a 5 per cent profit margin by 2027, positioning it as a key player in the global seafood market. This growth trajectory follows a period of financial struggle, yet the company remains optimistic due to the increasing global demand for high-quality, sustainably sourced seafood. Royal Greenland’s leadership is determined to reshape the business with its new profitability-focused strategy, known as Inua 2027. The term ‘Inua’ originates from Inuit culture, symbolizing ‘soul’ or ‘life force,’ which aligns with the company’s commitment to sustainability, vitality, and long-term growth.
This new plan is designed to address challenges faced by the company, including rising production costs, global market fluctuations, and increasing competition within the seafood industry. Inua 2027 will allow Royal Greenland to concentrate on expanding its market share in Asia, where seafood consumption is projected to rise, and strengthen its position in the value-added product sector. This could involve expanding the company’s portfolio of pre-prepared meals, seafood snacks, and other convenience-driven offerings.
By leveraging its Greenlandic heritage and focusing on sustainability, Royal Greenland aims to strengthen its brand identity and resonate with consumers who prioritize eco-conscious sourcing. The company’s vision for the future is rooted in a deep respect for nature and a commitment to ensuring the continued vitality of the coldwater ecosystems from which it sources its seafood.
In conclusion, Royal Greenland’s Inua 2027 strategy reflects its unwavering commitment to turning around its business operations by targeting new growth markets, diversifying its offerings, and focusing on sustainability, while maintaining a strong connection to its Greenlandic roots and cultural identity. With these steps, the company is poised to recover from its losses and return to profitability, helping it to further solidify its leadership role in the global seafood industry.
