What is the current market size and future outlook for the salmon market?
The salmon market size has grown strongly in recent years. It will grow from $28.6 billion in 2024 to $30.59 billion in 2025 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to increasing demand for protein rich diets, growth in aquaculture technology, increasing popularity of sushi, rising global seafood consumption, growth in e-commerce platforms for seafood, increasing popularity of keto and paleo diets.
The salmon market size is expected to see strong growth in the next few years. It will grow to $39.61 billion in 2029 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to increasing consumer demand for healthy foods, rising awareness of omega-3 benefits, growth in aquaculture, rising popularity of sustainable seafood, growth in cold chain infrastructure. Major trends in the forecast period include adoption of sustainable aquaculture practices, adoption of recirculating aquaculture systems (RAS), adoption of alternative feed sources, implementation of advanced genetic breeding programs, development of precision aquaculture technologies.
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How has the salmon market evolved, and what factors have shaped its growth?
The growing aquaculture industry is expected to propel the growth of the salmon market going forward. The aquaculture industry refers to cultivating marine and freshwater species, including fish and plants, in regulated settings. The expansion of the aquaculture sector can be attributed to rising consumer demand for seafood, a focus on sustainable practices, and innovations in aquaculture technology. Salmon production plays a significant role in aquaculture due to its economic value, sustainability contributions, nutritional benefits, and adaptability to evolving farming technologies. Its growing importance aligns with the global push for sustainable food systems and healthier dietary choices. For instance, in March 2024, according to the Australian Bureau of Agricultural and Resource Economics, an Australia-based government agency, an estimated aquaculture’s contribution to seafood production value is set to grow from 60% in 2023-24 to 64% by 2028-29, reaching a real value of $2.21 billion. Therefore, the growing aquaculture industry is driving the growth of the salmon market.
What are the major segments of the salmon market?
The salmonmarket covered in this report is segmented –
1) By Type: Chinook Salmon, Coho Salmon, Pink Salmon, Red Salmon, Salmo Salar, Silverbrite Salmon
2) By End Product Type: Fresh, Frozen, Canned , Other End Products
3) By Distribution Channel: Retail, E-commerce, Brick And Mortar Stores, HoReCa And Wholesale Processed Food Industry, Other Institutional Customers
Subsegments:
1) By Chinook Salmon: Fresh Chinook Salmon, Frozen Chinook Salmon, Canned Chinook Salmon, Smoked Chinook Salmon
2) By Coho Salmon: Fresh Coho Salmon, Frozen Coho Salmon, Canned Coho Salmon, Smoked Coho Salmon
3) By Pink Salmon: Fresh Pink Salmon, Frozen Pink Salmon, Canned Pink Salmon, Smoked Pink Salmon
4) By Red Salmon: Fresh Red Salmon, Frozen Red Salmon, Canned Red Salmon, Smoked Red Salmon
5) By Salmo Salar: Fresh Atlantic Salmon, Frozen Atlantic Salmon, Canned Atlantic Salmon, Smoked Atlantic Salmon
6) By Silverbrite Salmon: Fresh Silverbrite Salmon, Frozen Silverbrite Salmon, Canned Silverbrite Salmon
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Which companies dominate the salmon market?
Major companies operating in the salmon market are Agrosuper S.A., Mowi ASA, Australis Seafoods S.A., Lerøy Seafood Group ASA, Cermaq Group AS, SalMar ASA, Cooke Aquaculture Inc., Skretting AS, P/F Bakkafrost, Salmones Camanchaca S.A., Grieg Seafood ASA, Multiexport Foods S.A., Blumar S.A., Tassal Operations Pty Ltd., AKVA Group ASA, Huon Aquaculture Group Pty Ltd., Benchmark Holdings plc, Invertec Pesquera Mar de Chiloé S.A., Bremnes Seashore AS, Sinkaberg-Hansen AS, BioMar Group A/S, AquaGen AS, Nordlaks Produkter AS, Nova Sea AS, AquaChile S.A
How will evolving trends contribute to the growth of the salmon market?
Major companies in the salmon market are developing smoked salmon spreads to diversify their product offerings and cater to the growing consumer demand for convenient and gourmet snack options. Smoked salmon spreads enhance the salmon market by providing consumers a convenient, flavorful, and nutritious option, promoting a healthy lifestyle, and increasing demand for salmon products. For instance, in March 2024, Foppen Seafood, a Netherlands-based processing seafood products company, launched a new hot-smoked salmon spread that serves as both a lunch option and a snack, broadening its product offerings. This innovative spread, made with 50% smoked salmon and mayonnaise, highlights the brand’s focus on reducing waste while introducing exciting flavors such as jalapeno and seaweed. Such innovations are significant for the salmon market, addressing consumer demands for convenience and variety amid rising competition and costs.
What are the key regional dynamics of the salmon market, and which region leads in market share?
Europe was the largest region in the salmon market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the salmon market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Salmon Market Report 2025 Offer?
The salmon market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Salmon is a type of fish from the Salmonidae family, recognized for its pink and orange flesh and migratory habits, primarily found in the North Atlantic and Pacific Oceans. It is widely used in various culinary dishes, including sushi, grilled fillets, and smoked products, serving as a key source of protein. Additionally, salmon offers numerous health benefits, being rich in omega-3 fatty acids, high quality protein, and essential nutrients that support heart health, brain function, and overall well being.
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