The economic feasibility of seaweed production in the North Sea

Sander W.K. van den Burg*, Arie Pieter van Duijn, Heleen Bartelings, Marinus M. van Krimpen, Marnix Poelman

*Corresponding author for this work

Research output: Contribution to journalArticleAcademicpeer-review

32 Citations (Scopus)

Abstract

Seaweeds are increasingly seen as an alternative to land-grown products in food and feed applications. Interest in production of seaweeds in temperate waters is rising, in particular in combination with offshore wind energy generation. This article reports an investigation of the economic feasibility of seaweed production in the North Sea using economic modelling. Often, an overly positive picture of the costs and benefits of seaweed production is sketched. Based on current available information, offshore seaweed production in the North Sea is not economically feasible. Sensitivity analysis shows that revenues would have to increase by roughly 300%, all other things equal, to make a profit. A number of opportunities to improve the economic feasibility of a North Sea seaweed value chain are identified. Technical innovation and the design of systems that enable multiple harvests per year can reduce production costs. Successful marketing of seaweed as human food, and the development of biorefinery concepts can increase the value of the produced seaweed.

Original languageEnglish
Pages (from-to)235-252
JournalAquaculture Economics & Management
Volume20
Issue number3
DOIs
Publication statusPublished - 2016

Keywords

  • Economic modelling
  • north sea
  • seaweed
  • sensitivity analysis
  • wind energy

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