Spiraling costs were one of the big challenges faced by the land-based aquaculture industry during 2023.

Runaway inflation, higher energy costs and rising interest rates forced many land-based companies to either halt ongoing construction projects or reach out to investors for additional funding to cover these escalating costs.

However, 2024 could see a slight easing of inflation and this, combined with a lower cost of capital, could make some of the projects once again attractive to investors.

Norway-based Salmon Evolution, which is producing fish currently, was less affected by these issues to compared to its peers that are in the early stages of development.