2023 was a year of breakthroughs: From the world’s first voluntary blue carbon credits being established in Japan to billion-dollar investments propelling aquaculture start-ups like e-Fishery to new heights.

As the ocean economy continues to attract investment with an estimated value of  $24 trillion in projections, the question remains: how does this momentum translate into 2024?

We have tapped into the minds of key players in the blue food space, uncovering their hottest investment targets for 2024, the solutions they are looking for, and the connections they seek to accelerate positive change. Read on for their insights, areas that hold the most potential for growth and commercialisation, and plan your trip to join them and many more investors at the Blue Food Innovation Summit in London on May 21-22, 2024.

Before we dive into 2024, take a look back at last year’s predictions – did you see any of these forecasts take shape in 2023?

A Big Year for Data

Reflecting on the last twelve months, Christian Lim, Investment Director at SWEN CAPITAL PARTNERS, says “2023 was the year where precision aquaculture tools became mainstream.” He predicts that 2024 however, will be the big year for data, as “data available to fish farmers will scale massively,” providing real time insights into fish health and biomass. The positive implications of this are wide-reaching, from producing higher yields while still improving fish welfare, to improving aquaculture’s carbon footprint. “Advanced data analytics,” Lim concludes, “will transform the way aquaculture is done”.

Food Security, Biodiversity and Climate Action

Ralph Graichen, Operating Partner at TEMASEK, also pinpoints data technologies as an area to watch for the coming year alongside sustainable feed and automation in seaweed and disease management. However, it is food security, biodiversity and climate change action that is highest priority for innovation and funding in 2024 – “Temasek is actively invested in this space” Graichen shares, “through companies such as e-Fishery we seek to enable a transition towards a greener and more sustainable agri-food system”.

Redefining the Norms for Sustainability and Nutrition

Giles Cadman, Ecopreneur and Chair of CADMAN CAPITAL 2024 highlighting opportunities for “algae-based products, aquaculture advancements, and the exploration of novel marine resources.” Positioning blue food at the intersection of sustainability and nutrition, he proposes that, this year, “embracing technology and ecological mindfulness will drive the blue food sector, offering solutions for nourishment while preserving our planet.”

An Ever-Evolving Investment Landscape 

Technological integration remains a promising area in 2024 for Harry Wright, CEO & Co-Founder at BRIGHT TIDE as he points out emerging trends likely to shape the aquaculture landscape in 2024, “advancements in blue biotechnology, supply chain transparency, and continued R&D investment”, that consumers are still demanding traceability and sustainable seafood options, noting that “the exploration of lesser-known species, alongside a growing interest in land-based facilities, to meet these demands”. These trends, Wright concludes, “pave the way for potential growth, commercialisation, and transformative advancements in the aquaculture and blue food sector” in the coming year.

Making These Predictions Reality

2024 is brimming with opportunities with data integration, regenerative aquaculture, diversifying the raw materials basket, and consumer awareness emerging as the most promising sectors for growth. The 3rd edition of the Blue Food Innovation Summit presents an action-packed agenda and focused business development platform to facilitate conversation and collaboration between industry players big and small.

Commenting on the agenda, Danielle Blacklock, NOAA FISHERIES said, “I am pleased to see the broader brush used to talk about seafood – as we often say, ‘a rising tide lifts all boats’. We need people to eat more blue foods, and this agenda could help us get there!”

Take a look at the programme here.

Join over 350 leaders in blue food, ocean systems and aquaculture in London at the Blue Food Innovation Summit on May 21-22,2024 as producers, feed suppliers, health providers, retailers, investors and innovators work together to forge the collaborations that will take sustainable aquaculture to the next level. Register now.