FRDC’s investment in aquaculture research, development and extension supports a sector that is setting new production records globally to meet increased demand for seafood.
Global aquaculture production of aquatic animal production has officially overtaken wild catch fisheries for the first time, according to the 2024 edition of The State of World Fisheries and Aquaculture (SOFIA) published by the United Nations Food and Agriculture Organization (FAO).
Fishing and aquaculture production reached an all-time high of 223.2 million tonnes, in 2022, an increase of 4.4% compared to 2020. This included 185.4 million tons of aquatic animals and 37.8 million tons of algae, with a combined value of USD472 billion (AUD701 billion).
While production from wild catch fisheries has remained relatively stable globally, aquaculture production has continued to grow. It reached 130.9 million tonnes, or 59 per cent of total production in 2022, including aquatic animals (94.4 million tonnes) and algae (36.5 million tonnes).
Aquaculture provided 51 per cent of the aquatic animal production, and a 57 per cent share of this market for human consumption.
Consumption trends
The SOFIA report also highlights the rising consumption of aquatic animal foods. In 1961, the average consumption was just 9.1 kilograms per capita. By 2021 this had increased to 20.7 kilograms per capita. By 2032 this is expected to increase to 21.3 kilograms per capita.
However, the long-term rise in global consumption from 1961 to 2021 is an average annual growth rate of three per cent per year— rising faster than population growth and faster than the increased consumption of all terrestrial meats combined, which is estimated at 2.7 per cent.
Changing dietary habits, driven by rising incomes and urbanisation are the key factors of increased production and consumption, along with improved processing and preservation technologies.
Aquaculture is expected to help meet this demand, with an anticipated growth in production of 10 per cent over the next decade.
Given a projected population of almost 10 billion by 2025, the SOFIA report estimates global fisheries and aquaculture production will need to rise by at least 22 per cent just to keep pace with current per capita consumption levels.
Australian outlook
In Australia, total fisheries and aquaculture production reached $3.42 billion in 2021–22, the latest available figures from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES). The total production volume was 306,853 tonnes.
Aquaculture accounted for 42 per cent of the production volume, but 56 per cent of the value.
As production from wild catch fisheries remains relatively stable, the ABARES 2024 Australian Fisheries and Aquaculture Outlook anticipates aquaculture will drive growth in the sector, increasing its overall share of production value to around $2.21 billion by 2028-29, or 64 per cent of GVP.
Production increases across a range of aquaculture species are expected, although salmonid aquaculture is likely to remain the dominant factor driving growth.
Investment in growth
For FRDC, research to improve the productivity and sustainability of aquaculture is an essential part of its investment portfolio. Projects investigate and support improved production technologies, supply chain development, value-added products, marketing and promotion, and people development.
FRDC also invests at the intersection between aquaculture and wild catch fisheries. For example, optimising marine ranching of Southern Bluefin Tuna or through the enhancement/re-seeding of wild populations with transplanted aquaculture reared fish.
Working in collaboration with established sectors, FRDC has industry partnership agreements to prioritise research needs and optimise outcomes from available funding. It has agreements with:
• Australian Abalone Growers Association
• Australian Barramundi Farmers Association
• Australian Prawn Farmers Association
• Australian Southern Bluefin Tuna Industry Australia,
• Oysters Australia
• Salmon Tasmania
FRDC also invests in research to support new opportunities, particularly where these also support social and sustainability objectives. Examples include tropical rock oysters in northern Australia, which could offer new avenues of employment, particularly for Indigenous communities. Or in seaweed production to capture excess nutrients from the water and for use in stock feeds to reduce methane emissions from cattle.
FRDC’s ongoing investment remains important to grow production from this sector, which has one of the smallest uses of environmental resources of any primary production sector, as well as potential broader economic, social and environmental benefits.