A globally competitive seaweed industry
NSW is positioned to grow a globally competitive seaweed industry, underpinned by comparative advantages in cultivation and strong adjacent workforce capabilities.
Under a modelled scenario, the global market opportunity for New South Wales (NSW) seaweed is estimated to be worth between A$900 million and A$2.3 billion. This represents NSW accessing 6-14% of the projected global market for future seaweed-derived products.
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Click hereNSW's key advantages
Unique environmental resources
NSW has ample access to land availability and is home to approximately 230 of Australia’s 1500 seaweed species, offering significant genetic diversity. The state also has an abundance of seawater, saline groundwater, and extensive wastewater.
Complementary workforce
Tapping into skilled workforces from local aquaculture, agriculture, and manufacturing industries brings valuable expertise and knowledge to the growing seaweed industry.
Existing capabilities and co-location potential
Established industrial ecosystems and renewable energy zones in NSW offer co-location opportunities that reduce production costs for seaweed cultivation. Unused aquaculture ponds and other existing sites can be repurposed for seaweed cultivation, providing ready-made infrastructure and accelerating project implementation.
Research and development capability
Leading research supporting optimised gene selection, seaweed growth and environmental benefits. Providing a strong foundation to develop the industry, the NSW Department of Primary Industries (DPI) is ranked in the top 1% globally7 for agriculture, fisheries, forestry, biosecurity, environment, and ecology research.
NSW is a manufacturing powerhouse
NSW also possesses strong existing manufacturing capabilities for the development of biorefinery hubs (IBIS World - extracted June 2024).
NSW holds the majority of establishments for manufacturing nutraceuticals, fuels, pharmaceuticals, cosmetics and animal feed. It is the second highest in the country for fertiliser and plastics.
The state has 288,000 people employed in this industry, contributing to an A$33B market.
NSW contributes 25% to the Australian manufacturing market.
