Global Salmon Market is estimated to witness a rise in revenue from US$ 20,880.5 Mn in 2021 to US$ 27,344.0 Mn by 2027. The market is registering a growth at a CAGR of 4.6% during the forecast period 2022-2027. Moreover, in terms of volume, the global salmon market is expected to project a growth at a CAGR of 4.2% during the forecast period 2022-2027.
Salmon is a ray-finned fish in the family Salmonidae, which includes trout, char, grayling and whitefish. The salmon is a fish food that is loaded with nutrients which may even reduce certain risk factors for several different diseases. It is the one of the best sources of the long-chain omega-3 fatty acids eicosatetraenoic acid (EPA) and docosahexaenoic acid (DHA), which is an essential part for human diet.
Market Dynamics
The major factor responsible for the growth of the global salmon market includes rise in consumer awareness towards the health benefit of salmon and rising prevalence of chronic conditions. Due to expanding population, rising literacy levels and technological advancement leads to growing demand for healthy food. The robust growth of the urban population and improved healthy lifestyle of individuals create a high demand for the salmon market. Moreover, the rising demand for Grab-and-Go Foods creates a lucrative growth trend for salmon market. However, depletion of sea species restricts the salmon market growth.
Report Summary
The study of the global salmon market considers various market determinants, industry value chain analysis and competitor analysis of the market. The report discusses the analysis of the salmon industry for the period 2017-2027, where the base year is 2021 and the forecast period is 2022-2027. The report provides a detailed analysis of the global salmon market across 15 Chapters and 242 pages. The report includes data presentation across 71 tables and 99 statistical figures.
The report provides PESTLE analysis, which is a tool to examine the external market environment factors that have an impact on the industry. The PESTLE analysis examines the Political, Economic, Social, Technological, Environmental and Legal factors in the external environment. Thus, sufficiently examining the threats and weaknesses of the industry. The research report also provides Porter’s five forces analysis wherein bargaining power of buyers and competitive rivalry is high.
The subsequent section provides details of the market analysis based on different segments such as species, fish type, product type, distribution channel and region. The report includes detailed study of value chain of the industry. It includes raw material, processing and packaging, distributors and end users. The report also covers extensively about the key competitors in the market for global salmon.
Regulations/Standard of Salmon
This standard basically addresses environmentally sustainable and socially responsible practices in the aquaculture sector using efficient market mechanisms that create value across the chain. Fish products from a certified fish farm are eligible to carry the ASC eco-label, communicating to the consumer that the product is responsibly produced.
This standard was technically approving scheme for the rearing, handling, transport and slaughter/killing of farmed Atlantic salmon. This standard takes account of UK legislation, official codes of practice, scientific research, veterinary advice, recommendations of the Farm Animal Welfare Committee (FAWC) and the practical experience of the aquaculture industry.
Marine Stewardship Council (MSC) sets a standard for sustainable fishing. It provides a framework to help fishers improve catch data as well as strengthen the monitoring, control and surveillance of the fishery’s operations. It also condemns the use of forced or child labour and supports global efforts to eradicate it from the seafood industry.
Impact of COVID-19 on Global Salmon Market
Global salmon market witnessed a slight decline in 2021, in the recent outbreak of the COVID-19 pandemic. Due to the spread of the novel coronavirus disease, the market situation of fishing is being halted as it forced the government authorities and key manufacturers to stop or delay their fishing processes, aquaculture harvests and investment. Moreover, the interruption in demand and supply of salmon throughout the world, due to restrictions on trade and lockdown imposed by government bodies limits the adoption of salmon, and therefore, inhibiting the market growth globally.
Key Takeaways from the Global Salmon Market Report
Competitive Landscape
The key players in the Global Salmon Market are Cermaq Group AS, Leroy Seafood Group ASA, Mowi ASA, SalMar ASA, AquaChile, Cooke Aquaculture Inc., Greig Seafood, Multiexport Foods S.A., Blumar S.A., Camanchaca S.A., Nova Sea AS, Tassal Limited, Sinkaberg Hansen AS, Nordlaks Produkter AS, Bremnes Seashore AS and Norway Royal Salmon ASA among others. Through extensive research, it is found that big players have adopted various competitive strategies such as mergers & acquisitions in order to have a grip of emerging market. Furthermore, leading companies are expanding their geographical boundaries by acquiring small brands and domestic companies.
Segmentation Overview
Global Salmon Market is segmented based on species, fish type, product type, distribution channel and region. The industry trends in the Global salmon market are sub-divided into different categories in order to get a holistic view of the global marketplace.
Following are the different segments of the Global Salmon Market:
By Species segment of the Global Salmon Market is sub-segmented into:
By Fish Type segment of the Global Salmon Market is sub-segmented into:
By Product Type segment of the Global Salmon Market is sub-segmented into:
By Distribution Channel segment of the Global Salmon Market is sub-segmented into:
By Region segment of the Global Salmon Market is sub-segmented into:
Low blood pressure, calming inflammation, minimizing the risk of developing cancer and improving the function of the cells, healthy ageing, brain function is some of the benefits of salmon.
It is the one of the best sources of the long-chain omega-3 fatty acids eicosatetraenoic acid (EPA) and docosahexaenoic acid (DHA), which is an essential part of human diet.
Salmon consist of low total fat and has high number of proteins, vitamins, calcium and omega-3 fatty acid.
The Global salmon market is projected to grow at a CAGR of 4.6% during the forecast period 2022-2027 and is expected to reach US$ 27,344.0 Million.
Factors such as rise in consumer awareness towards the health benefits of salmon and rising prevalence of chronic conditions drives the growth in the global salmon market over the forecast period
The retail segment holds the largest CAGR in the global salmon market during the forecast period.
Asia-Pacific region is growing with the fastest CAGR during the forecast period.
Depletion of sea species is a restraining factor which inhibits the growth of the salmon market during the forecast period.
US holds the major share in terms of revenue in the North America salmon market.
The global rise in penetration of e-commerce sector provides a lucrative growth opportunity in the salmon market.
Species, fish type, product type, distribution channel and region are the different segments in the global salmon market.
Cermaq Group AS, Leroy Seafood Group ASA, Mowi ASA, SalMar ASA, AquaChile, Cooke Aquaculture Inc., Greig Seafood, Multiexport Foods S.A., Sinkaberg Hansen AS, Bremnes Seashore AS and Norway Royal Salmon ASA among others.
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| Report ID: AA0522244 
