Aquaculture has been identified term in the European Union Blue Growth strategy as an activity with high growth potential in the long term. The supply and demand of farmed salmon have been steadily growing in the EU. However, most of the salmon is imported to EU from Norway, while the aquaculture sector within the EU is facing many challenges to remain profitable and match the growing demand. Finnish aquaculture production has been stagnating during the past decades. Finnish rainbow trout producers are facing several challenges influencing the competitiveness and the sustainability of the sector. Likely the most important issue is the licensing system that does not always encourage adoption of eco-efficient technologies and practices. Therefore regulatory improvements are needed for functional licensing policy to support Blue Growth. The licensing system needs to recognise environmentally sound production, such as spatial planning to allocate production to locations with lower environmental impact. It is also suggested that if farmers would use Baltic Sea fish based feed that would close the nutrient loop and thereby allow production growth by recirculating nutrients. These kinds of innovative management tools in food production would make room for developing production systems that enable environmental-friendly profitable growth in aquaculture production for the needs of consumers.