Aquaculture Diversification and Regeneration in Seafood

July 5 2024

Aquaculture has been seen as a solution to meet the global demand for seafood as wild fish populations dwindle. However, the current state of the industry is fraught with issues such as high species and geographic concentration, leading to environmental and financial vulnerabilities. To avoid "aquafailure" and meet future seafood demands sustainably, diversification and regeneration in aquaculture are crucial.

The Problem

The term "aquafailure" refers to the inability of current aquaculture practices to sustainably meet global seafood demands. The industry is characterized by a high concentration of species and geographic locations, making it vulnerable to biodiversity risks, financial losses, and coastal conflicts. Without significant changes, aquaculture will fail to produce enough seafood to meet the world's growing demand, leading to a projected shortfall of 50 million tonnes by 2050.

Technological Solutions

While technological advancements like offshore aquaculture, recirculating aquaculture systems (RAS), and lab-grown seafood offer some relief, they are insufficient on their own. These technologies are expected to contribute only 4.6 million tonnes of seafood by 2050, covering just a fraction of the demand gap.

Regenerative Aquaculture

A more promising approach is regenerative aquaculture, focusing on species that do not require feed, such as bivalves (mussels, oysters, clams) and seaweed. These species not only contribute to closing the seafood demand gap but also offer environmental benefits like water filtration, carbon sequestration, and habitat provision. Regenerative aquaculture can produce an additional 45 million tonnes of seafood by 2050, effectively bridging the projected gap.

Financial Challenges

The transition to regenerative aquaculture requires substantial capital investment. It is estimated that at least USD 55 billion is needed to finance this shift. However, most publicly listed aquaculture companies cannot afford to self-finance this transition, necessitating external funding from investors and lenders.

Conclusion

To meet the future seafood demand sustainably and avoid aquafailure, the aquaculture industry must diversify away from traditional fed aquaculture and embrace regenerative practices. This shift will require significant investment, but it is essential for both environmental sustainability and food security.