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Salmon Market Size Worth US$ 27,344.0 Million by 2027 |CAGR: 4.6%

According to the study undertaken by Astute Analytica the global salmon market is anticipated to register a CAGR of 4.6% during the forecast period 2022-2027. The global salmon market was valued at US$ 20,880.5 Million in 2021 and is forecasted to reach US$ 27,344 Million by 2027. Moreover, in terms of volume, the global salmon market is expected to project a CAGR of 4.2% during the forecast period 2022-2027.

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. Seafood consumption decreases the risk of stroke, hypertension and obesity. It also provides essential nutrition to infant and children for their development. 

Factors such as rise in consumer awareness towards the health benefit of salmon and rising prevalence of chronic conditions drives the growth in the global salmon market over the forecast period. Moreover, the global rise in penetration of e-commerce sector provides a lucrative growth opportunity in the salmon market. However, the depletion of sea species restricts the salmon market growth. Furthermore, global salmon market witnessed a slight decline in 2021, in the recent outbreak of the COVID-19 pandemic due to restrictions on trade and lockdown imposed by government bodies. 

Market Insights 

Global Salmon Market Insights by Species

Based on species, the global salmon market is segmented into Atlantic, pink, chum/dog, coho, sockeye and others. The Atlantic salmon segment is anticipated to grow at the largest share in the salmon market over the forecast period owing to its high demand as it is a rich source of proteins, vitamins and omega-3 fatty acids. It has traditionally been dominated by a small number of farming regions wherein several natural conditions have to be present in order to ensure optimal salmon farming production. 

Global Salmon Market Insights by Fish Type

Based on fish type, the global salmon market is bifurcated into farmed and wild. The farmed segment holds the highest market share in 2021 and is also projected to grow at the highest CAGR of 4.8% over the forecast period. Farmed salmon has lot of health benefits as it has slightly more omega-3s, much more omega-6 and three times the amount of saturated fat than the wild salmon. Also, farmed salmon is higher in vitamin C, saturated fat, polyunsaturated fatty acids and calories.

Global Salmon Market Insights by Product Type

Based on product type, the global salmon market is segmented into frozenfresh, canned and others. The canned segment dominated the salmon market in 2021. Whereas, fresh segment is expected to project the highest CAGR over the forecast period due to its longer shelf-life and high nutritional value. Moreover, due to growing awareness regarding the fresh food diets for health benefits coupled with consumers preference for the adoption of fresh salmon leads to the segment growth.

Global Salmon Market Insights by Distribution Channel

In terms of distribution channel, the global salmon market is segmented into retail, HoReCa & wholesale, processed food industry and other institutional customers. The retail segment holds the largest share in 2021 and is anticipated to grow at the highest CAGR over the forecast period. 

Global Salmon Market Insights by Regional Outlook

By region, Europe holds the largest market share in 2021 owing to high disposable income, increasing food processing sector in the region and rising demand for ready to grab food. Whereas, Asia Pacific is anticipated to project the highest CAGR over the forecast period. The increasing working population, rapid surge in E-commerce sector and favorable trade norms introduced by emerging economies lead to drive the growth of the market.

Company Profile 

  • Mowi ASA, formerly known as Marine Harvest ASA, is a Norway based seafood company, involved in fish farming, primarily salmon, operating in Norway, Scotland, Canada, the Faroe Islands, Ireland and Chile. Mowi ASA also owns a 'value added processing' unit, which prepares and distributes a range of seafood products and a number of smaller divisions. Moreover, based on business revenue segmentation, infrastructure platforms hold the largest market share. 
  • Multiexport Foods S.A. is a Chile-based company, which mainly focuses on fishing industry. Atlantic salmon, trout and cold- and hot-smoked fish products are among the company's offerings. The company mainly operates in two processing factories that produce fresh, frozen and smoked salmon and trout. Multiexport foods focusses on expanding its locations by introducing its products to other countries.
  • Blumar SA specializes in aquaculture and fishing, processing, transformation, marketing and export were all part of its business. The company manufactures and sells fish meal, fish oil, salmon and trout, as well as frozen fish products. It also manufactures dried and smoked fish, and catches and processes fish. Moreover, Atlantic salmon is the largest shareholder in terms of business revenue by product.

Competitive Insight

Global Salmon Market is highly competitive in order to increase their presence in the marketplace. Some of the key players operating in the market includes 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. 

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:

  • Atlantic
  • Pink
  • Chum/Dog
  • Coho
  • Sockeye
  • Others

By Fish Type segment of the Global Salmon Market is sub-segmented into:

  • Farmed
  • Wild

By Product Type segment of the Global Salmon Market is sub-segmented into:

  • Frozen
  • Fresh
  • Canned
  • Others

By Distribution Channel segment of the Global Salmon Market is sub-segmented into:

  • Retail
    • E-commerce (online)
    • Brick & Mortar Stores (offline)
  • HoReCa & Wholesale
  • Processed Food Industry
  • Other Institutional Customers

By Region segment of the Global Salmon Market is sub-segmented into:

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The UK
    • Germany
    • France
    • Italy
    • Spain
    • Poland 
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • South Korea
    • Japan
    • Australia & New Zealand
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)
    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of MEA
  • South America
    • Argentina
    • Brazil
    • Rest of South America

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