Maine’s Lobster Fishers Pivot to Seaweed Farming

Seagriculture USA 2024

Maine’s lobster economy could be in jeopardy as warming waters force the crustacean population north. So, lobster fishers are increasingly switching to the potentially much larger business of seaweed farming. All in all, this is not necessarily a bad thing.

Today Maine is responsible for 80% of US seaweed production. To illustrate the role Maine plays in the world’s seaweed market, there’s no better viewing angle than the Seagriculture conference, held last week in Portland, Maine. Nearly 300 macroalgae influencers from 18 countries and 185 organizations converged at the Westin hotel to plant the seeds and clear the paths to move from a $2million current US market to a projected $5billion one over the next 10 years.

In this video, CNBC’s Diana Olick joins “Power Lunch” to discuss warming waters jeopardizing Maine’s lobster economy, lobster fisherman pivoting towards seaweed farming, and the Atlantic Sea Farms startup expanding its efforts to grow the seaweed industry.

Seagriculture USA 2024
Contact Phil Ganz



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