The main objective of the concept of sustainability is to meet various demands of burgeoning development and fast growing population in the best possible way while considering economic, social and environment aspects. Sustainable sources such as macroalgae or most commonly seaweeds, should be a subject of further investigations. Production of seaweeds is holding the capacity of different conversion roots and applications, such as human food and animal feed, biochemicals, bio-actives, bioremediation, bioenergy and biofuels, due to availability of various trace elements, minerals, vitamins and other biochemical elements, such as proteins, polysaccharides and less lipids with different application opportunities [1]. Seaweeds are widespread around the globe, however, its production is mainly located in Asian region and just a small share is represented by European countries. Not all the countries which have direct access to the sea practice seaweed cultivation or harvesting, including Latvia. Nevertheless, the results of SWOT analysis show that there are considerable amounts of strengths and opportunities for seaweeds to be potential as a feedstock for biorefinery concept in Latvian context, however there are still significant weaknesses and possible threats that are delaying development of the industry. There is non-estimated potential to cultivate seaweeds in Latvian conditions, therefore the overall preliminary analysis on techno-economic feasibility of seaweed biomass cultivation and its conversion system in Latvian context should be done.