Drainage has commonly been a pre-requisite for the productive use of peatlands. The biased focus on agriculture, forestry and peat extraction has long ignored the destructive effects of drainage and the successive degradation of ecosystem functions of wet peatlands. Accelerated by the climate crisis, the finite nature of drainage-based peatland use is increasingly recognised. Consequently, productive land use options for wet or rewetted peatlands (paludiculture) are required as sustainable alternatives. A wide range of paludiculture plants and options of biomass utilisation are identified as suitable and promising. Despite the growing interest, experiences with and research on the economic viability of paludiculture are still rare. This thesis addresses the lack of knowledge on paludiculture in terms of practical feasibility, costs and benefits at the farm level, market prospects and framework conditions. I selected the two currently most advanced paludicultural practices in Europe: a) Harvesting natural reed beds as a traditional ‘low-input’ paludiculture, i. e. the utilisation of existing ‘wild’ vegetation stands; b) ‘Sphagnum farming’ as a novel ‘high-input’ paludiculture including stand establishment and water management required for the active transformation from drainage-based peatland use to paludiculture. In both cases, I investigate three different biomass utilisation avenues. This thesis adds to the fields of problem-driven sustainability and land-use science ...