A conceptual framework for risk management in aquaculture

Aquaculture is considered a high-risk industry in which the heterogeneity of the productions hinders the development and application of risk management. However, risk sources have still received little attention in aquaculture research. The present study aims to provide a framework of the main risk sources perceived by aquaculture producers. Firstly, the different dimensions and typologies of risks are conceptualized. Then, the main risk sources are integrated into a comprehensive framework based on a review of the literature providing empirical evidence on aquaculture producers’ risk perceptions in different countries and aquaculture productions. Finally, the opinion of a panel of independent experts provides the vision of other relevant stakeholders in the value chain. This process allowed to present a picture of risks in the aquaculture industry, consisting of eight risk categories, 19 risk types and 40 risk sources.