To actively build a maritime community with a shared future, countries need to gradually upgrade the development of their blue economy at the national strategic level to realize the sustainable management and conservation of ocean resources and ecosystems. The potential paths toward these activities rely on identifying the most profitable and competitive blue sectors. First, the 26 kinds of blue products in five major blue industries, marine fishery, the marine chemical industry, marine agroforestry, the marine shipbuilding industry and marine equipment manufacturing, are selected. Examples from China and the United States in 1995, 2005 and 2015 are used to depict the evolutionary characteristics of the blue product space of two countries. Second, product spaces for 34 countries and regions in 2005, 2009 and 2013 are established, and the maximum proximity of each blue product to the products with high revealed comparative advantage (RCA) is calculated. The results show that the maximum proximity between blue products and products with high RCA values positively affects the growth potential of blue products. Finally, three applications defined by Fraccascia et al. (2018), such as the maximum proximity matrix, country diversification regarding green product development and the similarity among countries on green product development, are applied to blue product development as nonmonetary policy analysis tools, which are conducive for measuring the extent of sustainable economic development to help policymakers and stakeholders assess which blue products are suitable for production and to formulate effective policies in sectors most likely to achieve blue growth.