The salmon global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Salmon Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The salmon market size has grown strongly in recent years. It will grow from $26.81 billion in 2023 to $28.6 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. 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 $37.17 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. 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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Scope Of Salmon Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Salmon Market Overview
Market Drivers –
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.
Market Trends –
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.
The salmon market 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
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Regional Insights –
Europe was the largest region in the salmon market in 2023. 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.
Key Companies –
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
Table of Contents
1. Executive Summary
2. Salmon Market Report Structure
3. Salmon Market Trends And Strategies
4. Salmon Market – Macro Economic Scenario
5. Salmon Market Size And Growth
…..
27. Salmon Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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