The potential value of the Norwegian biomarine industry

Value creation from the Norwegian biomarine industry has the potential to increase by 600% by 2050 according to a new report.  The study, by found that the industry could rise from NOK 90 billion today to NOK 550 billion in just under 40 years.

A working group appointed by the Royal Norwegian Society of Sciences and Letters (DKNVS) and the Norwegian Academy of Technological Sciences (NTVA) and funded by SINTEF Fisheries and Aquaculture, the Ministry of Fisheries and Coastal Affairs and the Research Council’s research programme Aquaculture - An Industry in Growth (HAVBRUK) conducted the research.

The report considered current developments within core areas of the marine sector, including the feed industry and new industries.

The group put forward 10 recommendations covering research, education and technology development to help achieve the six-fold increase.

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Norway (Photo credit: mishox)