The global salmon market size reached 3.5 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 4.3 Million Tons by 2028, exhibiting a growth rate (CAGR) of 3.54% during 2023-2028.
Salmon is a species of oily, ray-finned fish belonging to the family of Salmonidae. It is rich in astaxanthin, vitamins, potassium, iodine, zinc, protein, omega-3 fatty acids, and other essential nutrients. It aids in reducing the symptoms of rheumatoid arthritis and minimizing the risk of developing heart diseases, cancer, dementia, Alzheimer's, and other cognitive disorders. It also improves the functions of cells, maintains blood sugar levels, reduces inflammation, and boosts the immune system. As a result, it is widely utilized in the preparation of various food items worldwide.
Salmon Market Trends:
- Salmon is used in the preparation of commercial food dishes, such as pizza, pasta, burger, salad, and mac and cheese, which are widely served across restaurants and other food outlets. This, in confluence with the significant growth in the food and beverage (F&B) industry, represents one of the major factors bolstering the market growth. In addition, the growing consumption of seafood on account of the increasing awareness among individuals about its health benefits is influencing the market positively. This can also be attributed to a considerable shift in consumer preferences from high-calorie, carb-based food items to protein-based diets. Moreover, the rising consumption of ready-to-eat (RTE) food products due to busy lifestyles, rapid urbanization, and expanding purchasing power of individuals are catalyzing the demand for frozen and canned salmon-based products. Apart from this, the introduction of value-added products, such as smoked salmon, salmon jerky, salmon oil, salmon lox, and salmon spreads, is creating a positive outlook for the market. Furthermore, the rising farming of aquatic animals and significant improvement in seafood productivity are anticipated to provide lucrative growth opportunities to industry investors.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global salmon market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on type, species, end product type and distribution channel.
Breakup by Type:
- Wild Captured
- Farmed salmon dominates the market due to the rising preference for high-quality seafood.
Breakup by Species:
- Atlantic species hold the largest segment as they are more nutritious than other species.
Breakup by End Product Type:
- Frozen salmon holds the market due to its longer shelf-life and high nutritional value.
Breakup by Distribution Channel:
- The foodservice sector holds the largest market share due to the increasing consumer spending on restaurants and other dining establishments.
Regional Insights (Based on Production):
- Faroe Islands
- United States
Breakup by Region (Based on Consumption):
- European Union
- United States
- The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Cremaq Group ASA, Lerøy Seafood Group ASA, Mowi ASA, and SalMar ASA.
Key Questions Answered in This Report:
- 1. What was the size of the global salmon market in 2022?
- 2. What is the expected growth rate of the global salmon market during 2023-2028?
- 3. What are the key factors driving the global salmon market?
- 4. What has been the impact of COVID-19 on the global salmon market?
- 5. What is the breakup of the global salmon market based on the type?
- 6. What is the breakup of the global salmon market based on the species?
- 7. What is the breakup of the global salmon market based on the end product type?
- 8. What is the breakup of the global salmon market based on the distribution channel?
- 9. What are the key regions in the global wild captured salmon market based on the production?
- 10. What are the key regions in the global farmed salmon market based on the production?
- 11. What are the key regions in the global salmon market based on the consumption?
- 12. Who are the key companies/players in the global salmon market?