Fish farming in Iceland – A thriving tradition

Aquaculture, better known as fish farming, has been a cornerstone of the Icelandic economy since the 1950s. Today, thanks to scientific breakthroughs in fish farming and a better understanding of the country’s natural assets, aquaculture has become a thriving industry with production expected to double by 2021. Thanks to the availability of geothermal water and the decades of experience of the local labour force, energy consumption and production costs can be easily reduced - in line with Iceland's ambition to have a completely green economy. Swapp Agency will guide you through the entire process of investing in fish farms in Iceland and answer any other questions you may have.

Fish farming in Iceland, a thriving tradition

Iceland is well known for its commitment to green energy, and one of the few countries in the world with an almost completely green energy grid. This guarantees any project set up on the island to have a close to zero-carbon foot print. Fish farming is no exception. While aquaculture in other countries will consume massive amounts of energy to achieve the right temperature for fish growth, Iceland has limitless quantities of geothermal water which can be used not only as a green solution, but also to reduce production costs dramatically.

Fish farming in Iceland has a long history dating back to the 1950s. Since the 1990s, scientific advances in fish farming have given the industry a new lease of life, allowing the best fish to be bred on Icelandic farms. This has resulted in the country being the number one producer of Atlantic char and one of the top producers of Atlantic cod and Atlantic salmon.

The Icelandic Ministry of Finance expects the production of this thriving industry to continue to grow beyond 2021. The promising development of the industry and the growing importance of a zero-emission production chain make Icelandic aquaculture one of the most promising and sought-after investment opportunities in Europe.

Companies such as Matorka and Stolt Sea Farm have already start producing fish using the country’s natural energy resources, and in October 2019, Iceland’s largest aquaculture enter opened, with an investment of ISK 4 billion. It also uses geothermal heat.

With good advice, a potential investor can familiarise themselves with fish farming in Iceland, analyse the industry's potential investment opportunities and become part of a growing industry that combines natural resources with science, all within the framework of a green and renewable production system.

Get in touch with Icelandic professionals

Contact Swapp Agency for comprehensive advice on aquaculture and fish farming investments in Iceland. We are a leading group of experts in various fields. Our professional team will be happy to assist you with investments in the aquaculture industry, the purchase of fish farms and any other questions you may have. Regardless of the industry or sector, we are ready to answer all your questions.