A study by Bord Iascaigh Mhara (BIM) Ireland’s Seafood Development Agency, and Donegal County Council (DCC), examines how the blue bioeconomy could help diversify the fisheries sector in Northwest Ireland.
The 'Scoping study on the potential of the blue bioeconomy in the Northwest' was prompted by ongoing reductions in fish quotas, which have limited the amount of fish Irish vessels can land. The situation became more urgent following major quota cuts for 2026, including a 70% reduction in mackerel, 41% in blue whiting, and 22% in boarfish. These reductions highlight the need for new business models and ways to generate greater value from smaller fish catches.
It also found strong market potential for the blue bioeconomy, with expected double-digit growth driven by sustainability trends. Key opportunities include extracting high-value products from fishery by-products, such as proteins, peptides, collagen, chitin, chitosan, and biostimulants. Successful examples already exist internationally, particularly in Iceland and Norway.
Collaboration plays crucial role in developing successful bioeconomy sectors
Consultations with fisheries businesses revealed that most companies currently use low-value outlets for fish waste and by-products, such as pet food, fish meal, oil production, or bait. Their primary focus has been reducing disposal costs rather than creating value from waste streams. While many businesses have explored nutrient extraction technologies, often with BIM support, most have limited knowledge of potential markets and value chains in the blue bioeconomy. The study also reviewed initiatives in countries including Iceland, Norway, Denmark, Belgium, France, and Ireland, highlighting how industry-led collaboration and support programmes have played a crucial role in developing successful bioeconomy sectors.
Overall, the study concludes that the blue bioeconomy presents a significant opportunity for Ireland's fisheries sector to create new revenue streams, increase the value derived from marine resources, and build resilience in the face of declining fishing quotas.
- Publication date
- 24 June 2026