<p>The ocean is one of the most promising economic areas in the coming decades. Among the other areas of the global economy, the ocean economy is partially explored and has possibilities for judicial exploitation. Therefore, the blue economy seems to be the “next great economic frontier”. It encourages the responsible utilisation of ocean resources for economic development while simultaneously protecting the health of the marine ecosystem. Aquaculture and fisheries sector make the highest contribution to the economies of each of the countries. The other sectors include pharmaceuticals, oil and gas, shipping and tourism. The blue economy and aquaculture are potential subjects for scientific inquiry due to increased scientific curiosity in recent years and a greater focus on political agendas. Efforts to promote the marine aquaculture business frequently rely on a rhetoric of opportunity that emphasises unmet economic growth possibilities. This review emphasises the economic advantages perceived by various countries in this sector. It also highlights the recent issues the blue economy is experiencing and the different opportunities for harnessing sustainable resource extraction for the enhancement of blue economy. Other than that, it also focuses on the influence of COVID-19 pandemic on the business which is solely dependent on the aquaculture and fisheries sector.</p>