Indigenous recognition and participation

Opportunity

Indigenous communities hold the longest continual knowledge of Australian aquatic ecosystems, uses, management and cultural significance. Ensuring this knowledge is embedded widely in fishing and aquaculture practices, research and management will improve community experiences and outcomes. New commercial opportunities for Indigenous business and products are needed to strengthen connections to lands, waters and culture for the benefit of Indigenous communities and the broader community.

One in five Australians fish recreationally, contributing substantially to employment, the economy and wellbeing. Social license is emerging as a key consideration for younger recreational fishers and must be understood to maintain high participation and associated economic and social benefits.

Spatial squeeze

Access to aquatic resources is increasingly contested. This spatial squeeze is driven by increasing aquatic users, the emergence of ocean energy and increased international pressure for large no-take reserve areas.

Opportunity

Increasing input costs including fuel, wages, maintenance, insurances and data collection are negatively impacting the viability of the commercial sector – aquaculture, wild catch and post-harvest, as well as tourism and hospitality.  

Global fish consumption is projected to grow 14.8% by 2030, influenced by population growth and increasing affluence of Australia’s Asian trading partners. Strong clean green credentials and acknowledged health, safety and nutrition benefits of aquatic food and nutraceuticals, position Australian fishing and aquaculture to capture this opportunity. These same opportunities exist in supplying the domestic market. There are opportunities to increase seafood production and yield from our resources to provide Australians with the nutritional benefits seafood provides, in a sustainable environment we can control.  

Fishing and aquaculture have enjoyed high, stable community trust. However, there is rising appetite for products and experiences that are environmentally responsible, well-regulated and use best practice animal welfare. An emerging trust and acceptance driver is demonstrated commitment to innovation for improved sustainability in food production, even if not all innovations are successful.  

Threat

Market forces, changing consumer preferences, pest and disease outbreaks, geopolitical tensions and supply chain disruptions impact market access and trade. Product and market diversification is required to mitigate volatility.  

Threat

The threats of new pest and disease incursions continue to rise in response to rapidly warming ocean temperatures and increasing aquatic users. Support for incursion prevention, monitoring, management and response is required. Preparedness and responsiveness will provide greater security across sectors.  

Sustainable and ethical 

All sectors are responsible for ensuring activities, products and services meet sustainability requirements. For aquaculture and commercial wild catch fishing, demonstrating credentials is increasingly a minimum market access requirement rather than a premium price pathway. Fit for purpose, cost effective innovations and best practice are needed to support increased efficiencies and profitability across diverse sectors, fish stocks and activities.  

Opportunity

There is an emerging market to use waste to improve yield, increase profits and improve ecological systems within and across sectors. Interest is growing for bioproducts to replace plastics and petroleum-based energy, as well as for the development of novel proteins, feeds, nutraceuticals and other products. Regenerative production and blue economy markets are introducing opportunities to generate profit, build fish stocks and ecosystem resilience.

International and domestic regulation is impacting resource access, reducing profit margins and limiting market access. Support for an appropriate, evidence-based, coordinated regulatory environment is needed to ensure fair and secure access to aquatic resources.  

Rapidly warming ocean temperatures are straining biological tolerances and impacting species ranges, causing stock migration across regulatory jurisdictions, decreasing biodiversity, threatening stock viability and increasing biosecurity risks. Decarbonisation measures are recognised as a shared responsibility and are a critical requirement for social and regulatory license to operate, and an opportunity to generate new revenue streams.  

There is a shortage of capable, experienced and qualified people in fishing and aquaculture, research, fisheries management, policy and administration. Workplace expectations are rapidly evolving, especially among young people. Demands for new skills, capability and capacity are emerging. Safe, innovative, diverse and evolving opportunities and skill development are needed to attract and retain talent.  

Opportunity

New technologies, such as Artificial Intelligence (AI) and data driven decision making will enable fishing and aquaculture to finetune operations, reduce costs, maximise benefits, address environmental and social impacts, demonstrate best practice, respond to consumer needs and better manage fish stocks and ecosystems.