Salmon Market
Salmon Market Forecasts to 2030 - Global Analysis By Product Type (Masu Salmon, Coho Salmon, Chinook Salmon, Atlantic Salmon, Pacific Salmon and Other Product Types), Distribution Channel (Retail Stores and Supermarkets/Hypermarkets), Application (Canned, Fresh, Frozen and Other Applications) and By Geography
According to Stratistics MRC, the Global Salmon Market is accounted for $67.3 billion in 2024 and is expected to reach $104.4 billion by 2030 growing at a CAGR of 7.6% during the forecast period. Salmon is a popular and nutritious fish belonging to the family Salmonidae, primarily found in the North Atlantic and Pacific Oceans. Known for its distinctive pink to reddish-orange flesh, salmon is celebrated for its rich flavor and high omega-3 fatty acid content, which contributes to heart health and overall wellness. Salmon undergoes a fascinating life cycle, migrating from freshwater rivers to the ocean and back, which influences its unique taste and texture. This fish is versatile in culinary applications, often grilled, baked, smoked, or served raw as sushi or sashimi. Beyond its culinary appeal, salmon fishing plays a significant role in many cultures and economies, with sustainable practices increasingly prioritized to preserve wild populations.
According to the Food and Agriculture Organization in 2022, the world's aquaculture including salmon fish and fisheries output reached 223.2 million metric tons, the highest level since 1950.
Market Dynamics:
Driver:
Rise of online shopping
The rise of online shopping has substantially enhancing the salmon market by expanding access to a wider consumer base and streamlining the purchasing process. E-commerce platforms allow customers to order fresh and frozen salmon directly from suppliers, ensuring convenience and often better pricing compared to traditional retail. This accessibility enables consumers to explore various salmon products, including organic and sustainably sourced options, aligning with the growing demand for health-conscious and environmentally friendly choices. Furthermore, online shopping facilitates the global distribution of salmon, allowing consumers to enjoy regional specialties from different parts of the world.
Restraint:
Aquaculture challenges
Aquaculture, while crucial for meeting global demand for salmon, faces several significant challenges that hinder its sustainability and growth. One major issue is the spread of diseases and parasites, such as sea lice, which can devastate fish populations and require costly interventions. Environmental concerns also arise from the high feed conversion ratios, as salmon farming often relies on wild-caught fish for feed, leading to overfishing and habitat destruction. The escape of farmed salmon into wild ecosystems poses risks to genetic diversity and local fish populations. Water quality and pollution from waste products further complicate the situation, affecting both farmed and surrounding aquatic life.
Opportunity:
Health and wellness trends
Health and wellness trends are substantially enhancing the appeal of salmon, positioning it as a superfood in modern diets. As consumers increasingly prioritize nutritional value, the demand for salmon has surged due to its high omega-3 fatty acid content, which supports heart health and reduces inflammation. The trend towards sustainable and ethical eating also plays a crucial role, with many people opting for responsibly sourced salmon, whether wild-caught or farm-raised under eco-friendly practices. Additionally, the rise of plant-based diets has prompted interest in integrating salmon into various culinary styles, from poke bowls to Mediterranean dishes, making it a versatile ingredient.
Threat:
Price volatility
Price volatility in the salmon market significantly impacts both producers and consumers, creating uncertainty in the supply chain. Fluctuations in salmon prices can stem from various factors, including changes in demand, environmental conditions, and competition from alternative seafood sources. For producers, unpredictable pricing makes it challenging to plan and invest in production, leading to potential overproduction or shortages. This instability can affect profitability, forcing smaller producers to adapt or exit the market altogether. On the consumer side, fluctuating prices can lead to inconsistent access and affordability, potentially driving consumers towards more stable seafood options. Price volatility can disrupt export markets, as international demand may vary dramatically based on currency exchange rates and global economic conditions.
Covid-19 Impact:
With restrictions on movement and gatherings, many commercial fisheries faced operational challenges, leading to reduced catch volumes. Processing plants encountered labor shortages due to health protocols, further hampering production. In addition, the closure of restaurants and a decline in global tourism drastically lowered demand for fresh seafood, causing prices to plummet. This economic strain forced many fishermen to adapt by pivoting to direct-to-consumer sales or diversifying their catch. The reduced fishing pressure during the pandemic offered a brief respite for some salmon populations, allowing for potential recovery in certain regions.
The Coho Salmon segment is expected to be the largest during the forecast period
Coho Salmon segment is expected to dominate the largest share over the estimated period, particularly in the context of ecological balance and fishery sustainability. By focusing on selective breeding and habitat restoration, this initiative aims to improve the genetic diversity and resilience of Coho salmon, which are vital for both ecosystem health and local economies. Enhancing Coho salmon populations can lead to better spawning success and increased survival rates for juvenile fish, ultimately supporting the entire aquatic food web. Additionally, initiatives often involve collaboration with local communities, fisheries and conservation organizations to promote responsible fishing practices and habitat conservation.
The Retail Stores segment is expected to have the highest CAGR during the forecast period
Retail Stores segment is estimated to grow at a rapid pace during the forecast period as it is focusing on enhancing the Salmon category to meet growing consumer demand for sustainable and high-quality seafood options. By prioritizing partnerships with responsible fisheries and aquaculture farms, retailers aim to ensure that their Salmon offerings are not only delicious but also environmentally friendly. This enhancement involves improving supply chain transparency, emphasizing traceability, and promoting certifications like Marine Stewardship Council (MSC) and Aquaculture Stewardship Council (ASC). Retailers are introducing innovative packaging that highlights freshness and sustainability, appealing to health-conscious consumers.
Region with largest share:
Asia Pacific region is poised to hold the largest share of the market throughout the extrapolated period, by promoting sustainable practices and ensuring food safety. Stricter environmental standards help mitigate the ecological impact of salmon farming, fostering responsible aquaculture that protects local ecosystems. Regulations also emphasize traceability, allowing consumers to know the origins of their fish, which enhances trust in the market. Initiatives aimed at improving feed quality and reducing antibiotic use contribute to healthier salmon and a more sustainable supply chain. These measures not only support the regional growth of local economies by boosting export potential but also align with global demand for ethically sourced seafood.
Region with highest CAGR:
Asia Pacific region is estimated to witness the highest CAGR during the projected time frame, by bringing together stakeholders such as government agencies, research institutions, and private enterprises these collaborations facilitate knowledge sharing and the implementation of best practices in aquaculture. Joint research initiatives focus on improving breeding techniques, disease management, and environmental sustainability, ensuring that salmon farming can meet rising consumer demands while minimizing ecological impacts. Partnerships with local communities help enhance socio-economic benefits, promoting responsible practices that support livelihoods.
Key players in the market
Some of the key players in Salmon market include Blumar SA, Cremaq Group ASA, Icelandic Group, Leroy Seafood Group ASA, Mowi ASA, Ocean Beauty Seafoods, SalMar ASA, Sustainable Fisheries UW, Trident Seafoods and Walmart.
Key Developments:
In October 2024, Trident Seafoods and Pacific Seafood have jointly announced an agreement in principle for Pacific Seafood to acquire Trident’s processing facilities at Kodiak.
In August 2024, Walmart has added new product categories, omnichannel experiences and fulfillment solutions to its eCommerce platform for third-party sellers, Walmart Marketplace. Walmart Marketplace will also add a new omnichannel experience that will connect shoppers with local retailers through Walmart’s digital channels and offer direct pickup and delivery from sellers’ physical stores. This Walmart LocalFinds offering will launch this fall in Atlanta and Dallas before rolling out to other cities.
In April 2024, Walmart Launches bettergoods, a New Private Brand Making Elevated Culinary Experiences Accessible for All. Walmart’s largest private brand food launch in 20 years, bettergoods makes quality, trend-forward and chef-inspired food approachable and affordable, with most items priced under $5.
Product Types Covered:
• Masu Salmon
• Coho Salmon
• Chinook Salmon
• Atlantic Salmon
• Pacific Salmon
• Other Product Types
Distribution Channels Covered:
• Retail Stores
• Supermarkets/Hypermarkets
Applications Covered:
• Canned
• Fresh
• Frozen
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Salmon Market, By Product Type
5.1 Introduction
5.2 Masu Salmon
5.3 Coho Salmon
5.4 Chinook Salmon
5.5 Atlantic Salmon
5.6 Pacific Salmon
5.7 Other Product Types
6 Global Salmon Market, By Distribution Channel
6.1 Introduction
6.2 Retail Stores
6.3 Supermarkets/Hypermarkets
7 Global Salmon Market, By Application
7.1 Introduction
7.2 Canned
7.3 Fresh
7.4 Frozen
7.5 Other Applications
8 Global Salmon Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Blumar SA
10.2 Cremaq Group ASA
10.3 Icelandic Group
10.4 Leroy Seafood Group ASA
10.5 Mowi ASA
10.6 Ocean Beauty Seafoods
10.7 SalMar ASA
10.8 Sustainable Fisheries UW
10.9 Trident Seafoods
10.10 Walmart
List of Tables
1 Global Salmon Market Outlook, By Region (2022-2030) ($MN)
2 Global Salmon Market Outlook, By Product Type (2022-2030) ($MN)
3 Global Salmon Market Outlook, By Masu Salmon (2022-2030) ($MN)
4 Global Salmon Market Outlook, By Coho Salmon (2022-2030) ($MN)
5 Global Salmon Market Outlook, By Chinook Salmon (2022-2030) ($MN)
6 Global Salmon Market Outlook, By Atlantic Salmon (2022-2030) ($MN)
7 Global Salmon Market Outlook, By Pacific Salmon (2022-2030) ($MN)
8 Global Salmon Market Outlook, By Other Product Types (2022-2030) ($MN)
9 Global Salmon Market Outlook, By Distribution Channel (2022-2030) ($MN)
10 Global Salmon Market Outlook, By Retail Stores (2022-2030) ($MN)
11 Global Salmon Market Outlook, By Supermarkets/Hypermarkets (2022-2030) ($MN)
12 Global Salmon Market Outlook, By Application (2022-2030) ($MN)
13 Global Salmon Market Outlook, By Canned (2022-2030) ($MN)
14 Global Salmon Market Outlook, By Fresh (2022-2030) ($MN)
15 Global Salmon Market Outlook, By Frozen (2022-2030) ($MN)
16 Global Salmon Market Outlook, By Other Applications (2022-2030) ($MN)
17 North America Salmon Market Outlook, By Country (2022-2030) ($MN)
18 North America Salmon Market Outlook, By Product Type (2022-2030) ($MN)
19 North America Salmon Market Outlook, By Masu Salmon (2022-2030) ($MN)
20 North America Salmon Market Outlook, By Coho Salmon (2022-2030) ($MN)
21 North America Salmon Market Outlook, By Chinook Salmon (2022-2030) ($MN)
22 North America Salmon Market Outlook, By Atlantic Salmon (2022-2030) ($MN)
23 North America Salmon Market Outlook, By Pacific Salmon (2022-2030) ($MN)
24 North America Salmon Market Outlook, By Other Product Types (2022-2030) ($MN)
25 North America Salmon Market Outlook, By Distribution Channel (2022-2030) ($MN)
26 North America Salmon Market Outlook, By Retail Stores (2022-2030) ($MN)
27 North America Salmon Market Outlook, By Supermarkets/Hypermarkets (2022-2030) ($MN)
28 North America Salmon Market Outlook, By Application (2022-2030) ($MN)
29 North America Salmon Market Outlook, By Canned (2022-2030) ($MN)
30 North America Salmon Market Outlook, By Fresh (2022-2030) ($MN)
31 North America Salmon Market Outlook, By Frozen (2022-2030) ($MN)
32 North America Salmon Market Outlook, By Other Applications (2022-2030) ($MN)
33 Europe Salmon Market Outlook, By Country (2022-2030) ($MN)
34 Europe Salmon Market Outlook, By Product Type (2022-2030) ($MN)
35 Europe Salmon Market Outlook, By Masu Salmon (2022-2030) ($MN)
36 Europe Salmon Market Outlook, By Coho Salmon (2022-2030) ($MN)
37 Europe Salmon Market Outlook, By Chinook Salmon (2022-2030) ($MN)
38 Europe Salmon Market Outlook, By Atlantic Salmon (2022-2030) ($MN)
39 Europe Salmon Market Outlook, By Pacific Salmon (2022-2030) ($MN)
40 Europe Salmon Market Outlook, By Other Product Types (2022-2030) ($MN)
41 Europe Salmon Market Outlook, By Distribution Channel (2022-2030) ($MN)
42 Europe Salmon Market Outlook, By Retail Stores (2022-2030) ($MN)
43 Europe Salmon Market Outlook, By Supermarkets/Hypermarkets (2022-2030) ($MN)
44 Europe Salmon Market Outlook, By Application (2022-2030) ($MN)
45 Europe Salmon Market Outlook, By Canned (2022-2030) ($MN)
46 Europe Salmon Market Outlook, By Fresh (2022-2030) ($MN)
47 Europe Salmon Market Outlook, By Frozen (2022-2030) ($MN)
48 Europe Salmon Market Outlook, By Other Applications (2022-2030) ($MN)
49 Asia Pacific Salmon Market Outlook, By Country (2022-2030) ($MN)
50 Asia Pacific Salmon Market Outlook, By Product Type (2022-2030) ($MN)
51 Asia Pacific Salmon Market Outlook, By Masu Salmon (2022-2030) ($MN)
52 Asia Pacific Salmon Market Outlook, By Coho Salmon (2022-2030) ($MN)
53 Asia Pacific Salmon Market Outlook, By Chinook Salmon (2022-2030) ($MN)
54 Asia Pacific Salmon Market Outlook, By Atlantic Salmon (2022-2030) ($MN)
55 Asia Pacific Salmon Market Outlook, By Pacific Salmon (2022-2030) ($MN)
56 Asia Pacific Salmon Market Outlook, By Other Product Types (2022-2030) ($MN)
57 Asia Pacific Salmon Market Outlook, By Distribution Channel (2022-2030) ($MN)
58 Asia Pacific Salmon Market Outlook, By Retail Stores (2022-2030) ($MN)
59 Asia Pacific Salmon Market Outlook, By Supermarkets/Hypermarkets (2022-2030) ($MN)
60 Asia Pacific Salmon Market Outlook, By Application (2022-2030) ($MN)
61 Asia Pacific Salmon Market Outlook, By Canned (2022-2030) ($MN)
62 Asia Pacific Salmon Market Outlook, By Fresh (2022-2030) ($MN)
63 Asia Pacific Salmon Market Outlook, By Frozen (2022-2030) ($MN)
64 Asia Pacific Salmon Market Outlook, By Other Applications (2022-2030) ($MN)
65 South America Salmon Market Outlook, By Country (2022-2030) ($MN)
66 South America Salmon Market Outlook, By Product Type (2022-2030) ($MN)
67 South America Salmon Market Outlook, By Masu Salmon (2022-2030) ($MN)
68 South America Salmon Market Outlook, By Coho Salmon (2022-2030) ($MN)
69 South America Salmon Market Outlook, By Chinook Salmon (2022-2030) ($MN)
70 South America Salmon Market Outlook, By Atlantic Salmon (2022-2030) ($MN)
71 South America Salmon Market Outlook, By Pacific Salmon (2022-2030) ($MN)
72 South America Salmon Market Outlook, By Other Product Types (2022-2030) ($MN)
73 South America Salmon Market Outlook, By Distribution Channel (2022-2030) ($MN)
74 South America Salmon Market Outlook, By Retail Stores (2022-2030) ($MN)
75 South America Salmon Market Outlook, By Supermarkets/Hypermarkets (2022-2030) ($MN)
76 South America Salmon Market Outlook, By Application (2022-2030) ($MN)
77 South America Salmon Market Outlook, By Canned (2022-2030) ($MN)
78 South America Salmon Market Outlook, By Fresh (2022-2030) ($MN)
79 South America Salmon Market Outlook, By Frozen (2022-2030) ($MN)
80 South America Salmon Market Outlook, By Other Applications (2022-2030) ($MN)
81 Middle East & Africa Salmon Market Outlook, By Country (2022-2030) ($MN)
82 Middle East & Africa Salmon Market Outlook, By Product Type (2022-2030) ($MN)
83 Middle East & Africa Salmon Market Outlook, By Masu Salmon (2022-2030) ($MN)
84 Middle East & Africa Salmon Market Outlook, By Coho Salmon (2022-2030) ($MN)
85 Middle East & Africa Salmon Market Outlook, By Chinook Salmon (2022-2030) ($MN)
86 Middle East & Africa Salmon Market Outlook, By Atlantic Salmon (2022-2030) ($MN)
87 Middle East & Africa Salmon Market Outlook, By Pacific Salmon (2022-2030) ($MN)
88 Middle East & Africa Salmon Market Outlook, By Other Product Types (2022-2030) ($MN)
89 Middle East & Africa Salmon Market Outlook, By Distribution Channel (2022-2030) ($MN)
90 Middle East & Africa Salmon Market Outlook, By Retail Stores (2022-2030) ($MN)
91 Middle East & Africa Salmon Market Outlook, By Supermarkets/Hypermarkets (2022-2030) ($MN)
92 Middle East & Africa Salmon Market Outlook, By Application (2022-2030) ($MN)
93 Middle East & Africa Salmon Market Outlook, By Canned (2022-2030) ($MN)
94 Middle East & Africa Salmon Market Outlook, By Fresh (2022-2030) ($MN)
95 Middle East & Africa Salmon Market Outlook, By Frozen (2022-2030) ($MN)
96 Middle East & Africa Salmon Market Outlook, By Other Applications (2022-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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