Queensland has many opportunities for aquaculture investment.
Over the past decade aquaculture has been Queensland's fastest growing primary industry and it continues to show significant potential for expansion, particularly in regional areas.
While global production of wild catch seafood is not expected to increase, the demand for seafood continues to rise with the increase in world population and wealth. Aquaculture production is expected to help meet the increasing demand for seafood.
In 2009-2010 aquaculture production was worth $103 million, or 31% of the total gross annual fisheries value in Queensland, and this percentage is expected to grow.
Major aquaculture sectors
The prawn farming sector is the largest aquaculture sector in Queensland, accounting for more than 70% of aquaculture production. The barramundi sector comes in second at 20%. Other major farmed species include silver and jade perch, Murray cod and redclaw crayfish.
Niche market and emerging high value sectors include pearl oyster farming, eel aquaculture, sea cucumber and sea scallop hatcheries and ranching, pharmaceutical and nutraceutical products from algae and sponges, and aquarium species.