Aquaculture in Australia: Market Size, Businesses & Forecast 2026

The aquaculture industry in Australia involves the commercial farming of finfish, crustaceans, and molluscs across onshore and offshore environments. According to official data from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES), the gross value of Australia's aquaculture production reached an estimated $2.31 billion in the 2024-25 financial year, making up approximately 58% of the country's total seafood sector production value. The industry is moving toward greater consolidation and domestic market reliance, supported by steady volume expansions in high-value species like salmonids, prawns, and barramundi despite easing international export conditions.

Industry snapshot

Key public data points

Get in touch and our analysts will be happy to help with custom market sizing, deeper segmentation, supplier detail or a bespoke study built for you.

What does the Aquaculture in Australia industry cover?

The Australian aquaculture industry comprises commercial business units primarily engaged in breeding, hatching, and rearing marine or freshwater organisms. Operations span diverse environments including onshore tanks and ponds, as well as offshore ocean cages, coastal leases, and estuarine setups. The primary focus of the sector is the production of high-value edible species for human consumption, alongside non-edible commodities.

• •The sector is officially classified under the Australian and New Zealand Standard Industrial Classification (ANZSIC) division for agriculture, forestry, and fishing.
• •Key commercial species cultivated include Atlantic salmon, barramundi, Yellowtail Kingfish, Murray cod, black tiger prawns, abalone, and edible oysters.
• •Non-edible aquaculture activities in Australia historically include the cultivation of South Sea pearls.

Who operates in the industry and how is it structured?

The market structure of Australian aquaculture is split between highly concentrated corporate dominance in large-scale finfish operations and highly fragmented smaller family-run enterprises in the mollusc and wild-catch sectors. Production is heavily skewed by geography, with Tasmania serving as the dominant hub for salmonids, while Queensland and South Australia host significant prawn and finfish infrastructure.

• •Finfish production, specifically Atlantic salmon, represents the largest sub-sector by both total volume and commercial value.
• •Regional clusters dictate market operations, such as oyster farming across New South Wales and South Australian estuaries, and prawn farming in tropical Queensland.
• •The sector features significant capital investment in corporate vertically-integrated hatcheries, processing facilities, and dedicated cold-chain logistics.

What drives demand in the industry?

Domestic seafood consumption and premium culinary demand serve as the primary drivers for Australian aquaculture. As wild-catch quotas face strict environmental constraints, commercial farming fills supply deficits for consistent retail and food service delivery, while premium species leverage clean ocean branding globally.

• •Domestic market demand relies on farmed species to supplement wild supply, as a significant portion of total seafood consumed in Australia is imported.
• •Consumer preferences for healthy, high-protein diets drive consistent institutional sales to major Australian supermarket chains and premium restaurants.
• •Biosecurity track records and pristine marine environments support a price premium for Australian-labeled species in high-end Asian and North American markets.

Who are the notable companies in the industry?

Australia's aquaculture landscape features prominent local corporate operators, several of which have been targets for foreign multinational acquisition due to their infrastructure scale. Publicly listed and major commercial entities operate across localized niches, controlling broad portions of Australia's total output.

• •Tassal Group (Tassal Group Limited), the country's largest salmon and black tiger prawn producer, operates as a subsidiary of Canadian corporation Cooke Inc.
• •Huon Aquaculture (Huon Aquaculture Company Pty Ltd), Australia's second-largest salmon producer, operates under the ownership of Brazilian multinational JBS S.A.
• •Murray Cod Australia Limited is a publicly listed enterprise on the Australian Securities Exchange (ASX) utilizing irrigation networks for native freshwater finfish farming.
• •Seafarms Group Limited is a major commercial prawn aquaculture developer focused on large-scale production facilities in Northern Australia.

What are the recent trends and outlook?

The industry is adapting to challenging international trading conditions by refocusing efforts on domestic supply networks and climate resiliency. Long-term forecasting shows that while global trade complexities may depress aggregate export values, expanding production volumes will continue to support steady growth within the domestic marketplace.

• •ABARES projects that the total value of aquaculture will increase by 5% in real terms to reach $2.21 billion by the 2028-29 financial year.
• •Aquaculture's share of total Australian seafood production value is projected to rise to 64% by 2028-29, overtaking traditional wild-catch fisheries.
• •Corporate investments are heavily targeting climate adaptation, shifting to deeper offshore waters and automated feeding systems to mitigate warming ocean temperatures.

How is the industry regulated?

Aquaculture in Australia is strictly regulated via a dual framework split between Commonwealth environmental oversight and state-based operational management. Compliance revolves around spatial planning, strict biosecurity protocols, and ecological impact restrictions intended to preserve marine biodiversity.

• •State bodies, such as the New South Wales Department of Primary Industries and the Tasmanian Department of Natural Resources and Environment, manage specific commercial farming leases.
• •Operators must comply with national environmental protection laws, including the Environment Protection and Biodiversity Conservation Act 1999 (EPBC Act).
• •Biosecurity compliance is strictly enforced by the federal Department of Agriculture, Fisheries and Forestry (DAFF) to safeguard farms against exotic viral and bacterial outbreaks.

Government, statistical and trade sources used for this Claight analysis.

• ABARES Australian Fisheries and Aquaculture Outlook 2024 ·
• Australian Bureau of Statistics (ABS) ANZSIC Industry Classifications 2006 ·
• Department of Agriculture, Fisheries and Forestry (DAFF) Aquaculture Industry in Australia Report 2024-25