Amplifying a Macroalgae Bioeconomy

The convergence of breakthroughs in DNA research, advances in biotechnology, and emerging remote-control capabilities, alongside mounting global challenges such as climate change, food security, rural development, and biodiversity preservation, has led to the rise of the bioeconomy. This new economic model leverages modern technologies and natural resources to produce sustainable sources of food, energy, chemicals, and carbon sequestration (Zilberman, Chap. 1). While the bioeconomy spans multiple sectors, one of the most promising yet underutilized areas is the blue bioeconomy—centered on aquatic resources. Beyond the well-established global fishery industry, a growing focus is emerging around macroalgae and microalgae (Hochman & Palatnik, Annual Review of Resource Economics, 14(1), 555–577, 2022). The macroalgae (seaweed) sector generates between $12 and 17 billion annually, yet its full potential to address pressing global needs remains largely untapped. This chapter provides an overview of the status of the macroalgae sector, recent developments, and a forward-looking agenda to scale its economic and environmental contributions—drawing in part from presentations at the inaugural meeting of the International Bioeconomy & Macroalgae Center (IBMC).