Global Salmon Market Report and Forecast 2024-2032

Global Salmon Market Outlook

The global salmon market size reached a volume of about 4.50 million tons in 2023. The salmon market is further expected to increase at a CAGR of 3.8% between 2024 and 2032 to reach a volume of about 6.33 million tons by 2032.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

On the basis of production, farmed salmon are primarily raised in Norway, followed by Chile, Scotland, Canada, and the Faroe Islands. The United States is the largest wild salmon catch area, followed by Russia, Japan, and Canada. The European Union, the United States, Russia, China, Brazil, and Japan are significant consumption regions of the product. The European Union accounts for the largest share of the overall salmon market.

Properties and Applications

Salmon is a genus of ray-finned fish associated with the Salmonidae family found in the North Atlantic and Pacific Oceans. Salmon is commonly used in the world because it is high in calcium, iodine, vitamin D, vitamin B3, zinc, phosphorus, and omega-3 fatty acids. Because it is known to be one of the main sources of eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA), its intake provides several health benefits, like helping to minimise inflammation, reduce the risk of cancer, lower blood pressure, and improve the function of the cells lining the arteries. Salmon is an important part of the preparation of a wide variety of meals, including sushi, salads, tartar, burgers, and pasta.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

On the basis of type, the global salmon market can be divided into:

• Farmed
• Wild Captured

The species of salmon can be segmented into:

• Atlantic
• Pink
• Chum/Dog
• Coho
• Sockeye
• Others

The end product type can be categorised as follows:

• Frozen
• Fresh
• Canned
• Others

The distribution channels can be segmented into the following:

• Foodservice
• Retail
• Others

The farmed variant is majorly produced in the following regions:

• Norway
• Chile
• Scotland
• Canada
• Faroe Islands
• Others

The wild captured variant are majorly found in the following regions:

• United States
• Russia
• Japan
• Canada
• Others

The major consuming regions of the product include the following:

• European Union
• Russia
• United States
• Brazil
• Japan
• China
• Others

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Market Analysis

There has been a change in individual patterns of consumption due to multiple factors, such as sedentary lifestyle preferences, growing income rates, increasing prevalence of chronic conditions, and increasing knowledge of health and wellness. People concentrate on removing or reducing carbohydrate-charged food products from their everyday diet and increasing the intake of protein-rich food products. As a consequence, salmon are frequently used in the making of pasta, salads, burgers, tartar sauces, and other dishes typically eaten as part of their daily diet. In addition, a range of value-added items are launched by producers, like canned, frozen, smoked, and suckling salmon, along with salmon oil, lox, and spreads. The growing working population, in combination with busy schedules for individuals, is increasing the sales of ready-to-eat (RTE) and easy-to-cook food items. Consistent with this, compact packaging and easy availability of frozen and canned salmon are expected to fuel the demand growth of the salmon market in the coming years.

Competitive Landscape 

The report gives a detailed analysis of the following key players in the global salmon market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Cermaq Group AS
• Lerøy Seafood Group
• Mowi ASA
• SalMar ASA
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report