The ‘Global Salmon Market Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global salmon market, assessing the market on the basis of its segments like type, species, end product, distribution channel, major producing countries, and major consuming countries.
Salmon Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 4%
|Growth Rate CAGR
|Cermaq Group AS, Lerøy Seafood Group, Mowi ASA,
SalMar ASA and among others,
The global salmon market is expected to register growth during the forecast period on account of the increasing production of farmed salmon across the globe to meet the demands from consumers. Changes in lifestyles along with the increase in demand for a nutrient-rich diet are expected to propel the market growth of salmon across the globe over the coming years. With the growing food industry, the demand for salmon is likely to increase due to increased usage of salmon in the preparation of food dishes like sushi, pasta, burger, and salads and separately in baked and roasted form, which are increasingly served across various food outlets and restaurants.
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The increasing seafood consumption is likely to drive the salmon market growth across the globe over the upcoming years due to the upsurge in awareness among individuals about the health advantages of salmon. This is due to a considerable shift in preferences of consumers towards protein-based diets from high-calorie, carb-based food items. Going further, the rising demand for ready-to-eat food products on account of rapid urbanisation, expanding purchasing power of individuals, and busy lifestyles are driving the demand for canned and frozen salmon-based products. The increased farming of aquatic animals as well as a substantial improvement in seafood production are expected to further enhance the growth opportunities in the salmon market.
Salmon Industry Definition and Major Segments
Salmon is a type of ray-finned fish that is linked with the Salmonidae family, which is widely consumed due to its high nutrient value. Salmon contains high levels of omega-3 fatty acids, calcium, zinc, vitamin B3, and vitamin D, among others. Generally found in the Pacific and North Atlantic Oceans, there are various kinds of salmon that are consumed in different cultures across the globe.
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Based on type, the market is segmented into:
- Wild Captured
By species, the market is classified into:
Based on end product, the market is segmented into:
By distribution channel, the market is classified into:
Based on major producing countries, the market is divided into:
- Faroe Islands
- Wild Captured
- United States
Based on major consuming countries, the market is segmented into:
- European Union
- United States
Salmon Market Trends
The growing technological advancements in the field of fish aquaculture and harvesting are expected to drive the salmon market growth in the coming years. The advancements in inland fishing along with usage of sustainable technology in salmon farming are further expected to push forward the market growth of salmon globally. Salmon is considered beneficial for child growth and development which is further expected to positively influence the market growth of salmon. Going further, salmon aids in preserving the balance of phosphorus and calcium in the body which is essential to bone health and is likely to increase the market demand for salmon.
Geographically, the Asia Pacific is anticipated to gain momentum over the coming years in the salmon market growth on account of the rising awareness among consumers regarding the health benefits of salmon. These benefits include the proper functioning of cells comprising the nervous system and the repairing and preservation of cells. In the Europe and North America regions, the market for salmon is anticipated to propel at a significant rate, on account of the rise in several health issues like systemic inflammation, obesity, and the risk of development of hypertension, stroke, and atherosclerosis.
Key Market Players
The major players in the global salmon market report are Cermaq Group AS, Lerøy Seafood Group, Mowi ASA, and SalMar ASA, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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