The Chinese market provides significant opportunities for Australian live abalone exporters resulting from the massive growth of an affluent middle class, seafood consumption, food service trade, and seafood retail trade that appears under-served. These factors, coupled with abalone’s prestige status and the dominance of Australian product in the premium live market, indicate promise of a sustainable future. Despite Australia’s dominance in the market, there appears to be very little control over the market or price. Fluctuations in supply, quality and pricing inconsistencies are pronounced impediments to abalone’s success. These issues are further exacerbated by emerging competitive pressures from a fast expanding aquaculture sector in Asia, a lack of consumer and buyer product awareness, an insufficient promotional strategy, and a fragmented supply chain that lacks responsiveness in a dynamic market. Without a significant cooperative response to these challenges, the industry’s dominance and profitability are in danger. Short term promotional activities are unlikely to sustain the abalone industry into the long term, and an effective suite of strategies will be required. These strategies may be assisted through the formal development of an abalone industry cluster.