ASTRAL Business models D6.3

This document was created as part of Work package 6 of the Horizon 2020 project All Atlantic Ocean Sustainable, Profitable and Resilient Aquaculture (ASTRAL). Work Package 6 focuses on business development, profitability, and exploitation, addressing one of the primary objectives of ASTRAL, namely, to address IMTA value chains from the point of view of profitability and socio-economic factors; these aspects are crucial to large-scale promotion and deployment of the IMTA approach.
Deliverable 6.3 consists of business model analyses of eight use cases. It includes existing commercial farms and prospective IMTA systems (ASTRAL Labs), showcasing monoculture, co-culture, and IMTA systems with diverse value chains and species. This report used the Business Model Canvas (BMC) tool to describe and analyse each business model's essential dimensions. A crossed analysis is also used to highlight intrinsic and external factors affecting each business models, using SWOT and PESTEL approaches.
Environmental performances of IMTA systems are considered with key inputs from the life-cycle assessment deliverable of ASTRAL. This deliverable provides a comprehensive analysis of IMTA's economic aspects, business models, and factors influencing their development, compared to monoculture and co-culture use cases. This report faces limitations in extrapolating data and scarcity of economic information for experimental IMTA pilot sites (Labs). It emphasizes main drivers for IMTA that stakeholders can leverage.
Economic benefits include economic growth in coastal areas and income diversity, while changing consumer habits favour sustainable and premium aquatic products. Emerging markets, particularly in seaweed-based products, offer growth potential. The high quality of IMTA products, coupled with traceability, provides a competitive advantage. Research and development, along with skilled human resources, are essential for navigating the complexities of IMTA systems. Political and financial support are crucial due to substantial installation and operational costs. Producers need to develop effective marketing strategies, explore new markets, and enhance product branding to raise market value. Building a positive brand image can capitalize on international perceptions and increase market penetration. Additionally, exploring ecosystem services adds another layer of potential benefits to IMTA business models. In summary, while IMTA holds significant promise, addressing challenges in funding, expertise, and market strategies is essential for sustained profitability.
NB : This deliverable is supplemented by a compendium focusing on the IMTA cases analyses (see Appendix 3: IMTA case study compendium).