“The regulations that are in place now are structured in a very complicated way,” said Richard Slaski, chief executive of the Federation of Scottish Aquaculture Producers.

“In some cases such complexity is necessary, but the more complex you get the more you risk overregulation – or worse, inappropriate regulation,” Slaski said. “Ultimately, the regulatory climate dictates whether you make a profit or not.”

One of the biggest challenges facing the industry is an inability to attract the interest of High Street finance, which would allow the industry to develop economies of scale.

“Especially