Salmon Market Outlook
According to the report by Expert Market Research (EMR), the global salmon market size attained a volume of about 4.50 Million Tons in 2024. Aided by the increasing consumer preference for nutritious and protein-rich seafood products and the growing demand for sustainable aquaculture, the market is projected to further grow at a CAGR of 3.80% between 2025 and 2034 to reach a volume of about 6.53 Million Tons by 2034.
Salmon is a widely consumed seafood product known for its rich nutritional profile, including high levels of omega-3 fatty acids, vitamins, and essential minerals. It is available in various forms, such as fresh, frozen, smoked, and canned, catering to diverse consumer preferences. The global salmon market is driven by rising health consciousness, increasing disposable incomes, and the expansion of the food and beverage industry.
Drivers of Growth
The increasing awareness regarding the health benefits associated with salmon consumption is a major factor driving salmon market growth. Salmon is recognized for its cardiovascular benefits, brain health support, and anti-inflammatory properties, making it a preferred protein source among health-conscious consumers. Additionally, the rising trend of high-protein and omega-3-rich diets has further propelled the demand for salmon-based food products.
Another key driver is the growing global population and the subsequent rise in seafood consumption. As consumers seek healthier alternatives to red meat, salmon has emerged as a popular choice due to its lower fat content and high nutritional value. The demand for convenient and ready-to-eat seafood options has also led to an increased preference for smoked and canned salmon products.
The expansion of aquaculture and sustainable fishing practices has further contributed to the global salmon market growth. Advances in aquaculture technology have enabled large-scale production of farmed salmon, reducing dependency on wild catch and ensuring a consistent supply to meet rising consumer demand. Governments and industry stakeholders are actively promoting sustainable fishing practices to maintain ecological balance and prevent overfishing, further boosting market growth.
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Market Trends
The increasing popularity of organic and responsibly sourced seafood is shaping the global salmon market. Consumers are becoming more conscious of the environmental impact of their food choices, leading to a surge in demand for sustainably farmed salmon. Certifications such as Marine Stewardship Council (MSC) and Aquaculture Stewardship Council (ASC) have gained prominence, ensuring that salmon products meet ethical and environmental standards.
Another significant trend is the growing demand for value-added salmon products. The rising inclination towards convenience foods has driven the market for ready-to-cook and ready-to-eat salmon-based meals. Smoked salmon, salmon burgers, and marinated salmon fillets have gained popularity among consumers seeking quick and nutritious meal solutions.
The foodservice industry also plays a crucial role in shaping the salmon market. Restaurants, hotels, and sushi chains are increasingly incorporating salmon into their menus, catering to the growing consumer preference for premium seafood dishes. The expansion of e-commerce and online grocery platforms has further facilitated the accessibility of salmon products, allowing consumers to conveniently purchase fresh and frozen seafood.
Salmon Market Segmentation
The market can be divided based on type, species, end product, distribution channel, and region.
Breakup by Type
- Farmed
- Wild Captured
Breakup by Species
- Atlantic
- Pink
- Chum/Dog
- Coho
- Sockeye
- Others
Breakup by End Product
- Frozen
- Fresh
- Canned
- Others
Breakup by Distribution Channel
- Foodservice
- Retail
- 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
Competitive Landscape
Some of the major players explored in the report by Expert Market Research are as follows:
- Cermaq Group AS
- Lerøy Seafood Group
- Mowi ASA
- SalMar ASA
- Others
Challenges and Opportunities
Despite its positive growth trajectory, the global salmon market faces several challenges. One of the primary concerns is the vulnerability of salmon farms to environmental factors such as disease outbreaks, climate change, and water pollution. These factors can impact production levels and lead to price fluctuations in the market.
Additionally, the high cost of sustainable aquaculture practices and feed remains a challenge for salmon producers. The rising prices of fishmeal and fish oil, which are essential components of salmon feed, can affect profit margins and production costs. Efforts to develop alternative plant-based and insect-based feed solutions are being explored to mitigate this issue.
However, these challenges present opportunities for innovation and salmon market expansion. The integration of biotechnology and genetic advancements in aquaculture can enhance salmon breeding programs, improving disease resistance and growth rates. Additionally, the increasing adoption of recirculating aquaculture systems (RAS) is expected to revolutionize salmon farming by reducing environmental impact and enhancing production efficiency.
Furthermore, emerging markets in Asia-Pacific and Latin America are presenting significant growth opportunities for salmon producers. Rising disposable incomes, urbanization, and shifting dietary preferences towards protein-rich seafood are driving demand in these regions. The expansion of cold chain logistics and improved supply chain infrastructure are expected to support the growth of salmon distribution networks in these markets.
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