Introduction
Global food systems increasingly require production models that improve resource efficiency while reducing environmental impacts. In this context, aquaculture has become one of the fastest-growing food production sectors and is expected to play a key role in future food security
Intensive aquaculture systems such as Recirculating Aquaculture Systems (RAS) have gained attention due to their ability to reduce water use, recycle nutrients, and sustain high production densities under controlled conditions. However, despite their environmental advantages, their long-term economic sustainability remains uncertain (FAO, 2024; Palm et al., 2018; Verma et al., 2023). Several commercial ventures have faced financial and operational difficulties linked to high capital investment, energy dependence, biological risk, and management complexity (Engle, 2023; FS, 2025; SalmonBusiness, 2024).
Existing studies show that profitability is highly sensitive to factors such as electricity prices, labor costs, stocking density, survival rates, and market access. Nevertheless, economic evidence remains fragmented and difficult to compare due to differences in scale, technology, and performance indicators. Most research emphasizes technical efficiency rather than systematic assessments of economic risk, scale effects, and long-term viability, creating uncertainty for investors, policymakers, and producers (Babatunde et al., 2023; Benjamin et al., 2020; Blidariu & Grozea, 2011).
Materials and Methods
This study applies a systematic literature review (SLR) to evaluate the economic and financial performance of RAS. A structured review process was used, including database searches, screening, eligibility assessment, and qualitative synthesis of findings. Peer-reviewed studies (n=74) published between 2010 and 2025 were collected primarily from Scopus and complemented with Google Scholar searches. The review focused on publications addressing economic performance, profitability, investment, and techno-economic aspects of RAS, while purely technical studies without economic analysis were excluded. After screening and selection, relevant studies were analysed to identify recurring economic drivers, cost structures, profitability patterns, methodological gaps and key challenges affecting the long-term viability of RAS.
Results and Discussion
The reviewed literature on RAS and aquaponic systems has expanded considerably since 2010, particularly across Asia, Europe, and North America, reflecting the growing interest in intensive and resource-efficient food-production systems. However, despite this increasing body of research, substantial methodological and economic heterogeneity remains across studies. For example, energy and feed expenditures consistently emerged as the most recurrent operational cost drivers, yet their reported contributions to total operating costs varied widely depending on system configuration, species, scale, and analytical assumptions. Several studies highlighted that energy-intensive infrastructure associated with pumping, oxygenation, and thermal regulation may represent a major barrier to economic viability, while feed costs alone accounted for approximately 24–70% of operating expenses across different production systems.
At the same time, the literature revealed persistent gaps in standardized economic reporting, including the lack of disaggregated energy-consumption data, inconsistent functional units, and limited treatment of stochastic risks such as energy-price volatility and infrastructure dependency. These findings are particularly relevant for industry stakeholders and policymakers, as they highlight the need for more comparable, risk-oriented, and scale-sensitive techno-economic assessments to support investment decisions and the sustainable expansion of RAS technologies.
Acknowledgments
This project has received funding from the AquaponicsOpti grant agreement Alyssa Joyce 2022-02559.
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