Canada’s Blue Bioeconomy
From fisheries and aquaculture to cosmetics, bio-materials and bio-pharmaceuticals, the potential of Canada’s blue bioeconomy is as vast as our coastline. Emerging technologies, such as macroalgae harvesting and cultivation, microalgae cultivation, marine biotechnology, and co-product valorization, represent untapped economic, societal, and environmental opportunities.
Canada’s blue bioeconomy currently has an economic impact of over $10 billion, and it is estimated that global seaweed markets alone will grow by over $10 billion by 2030. Given this, the blue bioeconomy and its diverse sub-sectors represent an opportunity for tremendous economic growth alongside positive societal and environmental benefits.
To seize this opportunity, Canada will require a strategic approach to creating conditions that spur innovation and support the growth of commercial enterprises. This must include the continued evolution of the aquaculture and wild capture fish and seafood industries. It will also need unique approaches and investment in emerging subsectors like macroalgae harvesting and cultivation, microalgae cultivation, marine biotechnology and co-product valorization.
Canada’s Ocean Supercluster has established a national Steering Committee to guide the development of a Blue Bioeconomy Strategy for Canada. Our first step was to develop a Discussion Document to guide national consultations leading to the creation of the strategy.