As populations in Australia and around the world grow, so too does the demand for sustainable sources of seafood.
Seafood demand in Australia has increased considerably over the last 3 decades. Currently, Australia’s consumer demand for seafood exceeds the supply from domestic production and continues to grow. Domestic aquaculture has the potential to significantly expand to help meet domestic and international demand.
Aquaculture production occurs throughout Australia, from the tropical north to the temperate south. The aquaculture industry is largely based in regional Australia and makes a significant and positive contribution to regional development.
Aquaculture is projected to continue its increased overall contribution to seafood production, from 60% in 2023-24 to 64% by 2028-29. The overall real value of aquaculture is expected to reach $2.21 billion by 2028-29.
Growth over this period is driven by expected production increases across a range of aquaculture species, but salmonid aquaculture production remains a major determinant of this trend. In 2021-22, the total weight of aquaculture production reached approximately 128,835 tonnes. Aquaculture production now accounts for 42% of the total volume of Australian fisheries and aquaculture production.
The Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) publish an annual report on Australia’s fisheries and aquaculture statistics. The reports contain data on the volume and value of production from state, territory and Commonwealth commercial fisheries (both wild catch and aquaculture). These reports, along with many others, can be found on the ABARES publications webpage.
Most of the value of Australian aquaculture production comes from high value species such as pearls, salmonids, tuna and oysters but there are over forty species commercially produced in Australia.
The top five aquaculture species groups, in order of production value, are: salmonids, tuna, oysters, prawns and barramundi.
Other species groups grown in Australia include: abalone, freshwater finfish (such as Murray cod, silver perch), brackish water or marine finfish (such as snapper, yellowtail kingfish, mulloway, groupers), mussels, ornamental fish, marine sponges, mud crab, seaweed and sea cucumber.
In recognition of the growth potential of the aquaculture sector, the Australian Government Aquaculture Statement has been developed.
The statement outlines the Australian Government’s support and initiatives for a sustainable aquaculture industry. It also provides a platform for ongoing discussion on how to support a growing aquaculture industry.
More information is available on the Australian Government Aquaculture Statement page.
Rules and regulations
Aquaculture in Australia is managed under strict environmental guidelines. While the Australian Government has a number of important functions in relation to aquaculture, including national programs for research, management of biosecurity, aquatic animal health, food safety, environmental management, and market access and trade, most elements of the regulation of domestic aquaculture production rest with the states and territories.
Aquaculture operations, particularly those that operate in, or discharge into, public waters, are required to comply with stringent environmental controls monitored on an ongoing basis by state agencies. Strict food health standards also apply to both aquaculture and wild capture products.
These environmental and food safety standards ensure fish grown in Australian waters are safe to eat and that seafood production does not unduly affect aquatic environments.
Markets and future direction
Australia has established a reputation as a producer of safe, high quality seafood which is produced using environmentally sustainable practices. Australian aquaculture producers target high value domestic and overseas markets.
The increasing demand for Australian native species and the proximity to Asian markets, together with world recognised seafood quality and standards, means Australian aquaculture is competitively positioned to take on high value aquaculture products.
The Australian aquaculture industry continues to look for ways it can expand its markets with emerging interest in the commercialisation of seaweed as livestock feed supplement to reduce methane emissions. The Australian Government has committed $8 million over 3 years (2022-23 to 2024-25) through the Supporting Australia’s Seaweed Program (Seaweed Program) under the Powering Australia Plan. The Seaweed Program aims to support research and development and accelerate the development of a sustainable aquaculture industry in Australia, with a focus on Asparagopsis.