Executive summary

The four seafood companies analysed in this report—Nissui, Umios, Thai Union, and Nomad Foods—could increase their operating profits by 2% to 9% by investing in digital, interoperable, full-chain traceability. While traceability is a necessary condition for seafood sustainability, it also has the potential to add 60% to global seafood profits through reduced costs. This research finds that companies failing to invest in these systems risk leaving significant value on the table. The potential profit uplift is highest for companies with limited existing traceability investment, such as Nissui and Umios, and lower for those with high existing coverage or lower seafood exposure, like Thai Union and Nomad Foods.

Improved traceability means improved returns

Seafood traceability is defined as the ability to systematically identify products, track their location, and reveal any treatments or transformations they undergo. Without it, supply chains are exposed to operational risks from unsustainable practices, regulatory risks from tightening global frameworks like the EU Illegal, Unreported and Unregulated (IUU) Fishing Regulation, and reputational risks linked to human rights abuses. A leading system must cover 100% of inputs, be full-chain from point of sale back to source, collect sufficient data at each stage, and be digital and interoperable according to Global Dialogue on Seafood Traceability (GDST) standards.

Planet Tracker’s modelling uses several shared assumptions to quantify financial implications. These include a 0.5% increase in seafood volumes, a 0.2% price increase, and significant cost reductions: a 25% decrease in food recall costs, a 5% reduction in food waste, and a 10% reduction in audit costs. The report notes that sustainability certifications like MSC and ASC are not interchangeable with traceability, as they typically only require “one step up, one step down” visibility rather than an end-to-end view of the value chain.

Nissui could raise its operating profit by 9% by investing in traceability

Nissui is the world’s second-largest seafood company, handling 2.76 million tonnes of fish annually. Approximately 76% of its seafood is estimated to be traceability-ready, yet the company lacks a comprehensive, group-wide commitment. By investing an estimated JPY 8.1 billion (USD 51 million) in traceability, Nissui could see its operating profit rise by 9.0% and net profit by 7.5%. The investment would be split between capital expenditure, such as IoT sensors and server upgrades, and administrative expenses like system integration. Recommendations for Nissui include disclosing a clear group-level commitment to GDST standards and designing a time-bound implementation plan.

Umios could raise its operating profit by 9% by investing in traceability

Umios (formerly Maruha Nichiro) currently relies on paper-based traceability. Although 83% of its portfolio is considered traceability-ready, the company only ran its first electronic pilot in early 2026. A total investment of JPY 9.0 billion (USD 57 million) is required to implement robust digital systems. This investment would lead to an 8.6% increase in operating profit and a 6.2% increase in net profit. The report suggests Umios must expand its electronic methods beyond pilot projects to cover its entire wild-catch and aquaculture portfolio and commit to third-party verification of these systems.

Thai Union could add 2% to operating profit by expanding its traceability coverage

Thai Union already has high traceability coverage, with an estimated 74% of its portfolio covered. Its tuna portfolio is already, or will soon be, fully traceable. Therefore, the remaining financial upside comes from digitising paper-based systems for shrimp and other wild-caught seafood. A modest investment of THB 10.7 million (USD 0.3 million) is required, which could increase 2024 operating profit by 1.9% and net profit by 2.1%. The primary actions required are implementing digital traceability for non-tuna wild-caught seafood and digitising shrimp aquaculture records.

Nomad Foods could add 2% to its operating profit by complementing certification with traceability

Seafood accounts for roughly 33% of Nomad Foods’ sales. While 99.6% of its volume is MSC or ASC certified, the company lacks a digital traceability commitment. Analysis suggests all its sourced species are traceability-ready. An investment of EUR 2.7 million (USD 3.1 million) would result in a 1.6% increase in operating profit and a 2.2% increase in net profit. Because Nomad already possesses high efficiency rates, the cost-saving benefits are lower than for its peers, but the investment remains modest at 0.1% of group sales.

Investor action

Planet Tracker recommends that investors ask seafood companies to invest in fully digital, interoperable, GDST-aligned traceability covering 100% of their portfolios. This involves making a group-level commitment, designing implementation plans with achievable milestones, and committing to third-party verification. Investors can coordinate this engagement through the Seafood Traceability Engagement led by FAIRR in collaboration with Planet Tracker, UNEP FI, WWF, and WBA.