Catriona Macleod1*and John Sewuster 2*
1Institute for Marine and Antarctic Studies (IMAS), 20 Castray Esplanade, Battery Point, 7004, TAS, Australia,
2Waypoint Business Solutions, 6041 Cherry St., Halifax, NS, B3H 2K4, Canada.
Almost every day there is a new report about the benefits of seaweed, consequently seaweed aquaculture is gaining increasing attention both globally and in Australia. In 2018 global seaweed aquaculture production was approximately 32.4 million tonnes (97% of all seaweed production), this is now around 35 million tonnes, and expected to increase markedly in the next few years. This has resulted in significant public and private investment in seaweed aquaculture research. In Australia, the recent establishment of the Blue Economy CRC and the Marine Bioproducts CRC has provided more than $120M for research specifically focused on supporting the development of viable marine aquaculture industries. However, to really target research in areas where seaweed aquaculture has most potential it is important to understand the market opportunities and the economic viability of seaweed aquaculture. In this presentation we will summarise the findings from a project undertaken to identify specific markets, and consumer and product expectations for three kelp species currently being grown in Tasmania. The results provide important insights into market opportunities, product expectations, and the production and business models required to ensure a viable industry. The findings show a number of very promising seaweed product opportunities, but that further research is needed to provide the detailed understanding to optimise those opportunities and establish a viable bioeconomic model for seaweed production in southern Australia/ Tasmania.