IMARC Group, a leading market research company, has recently releases report titled “Salmon Market Report by Type (Farmed, Wild Captured), Species (Atlantic, Pink, Chum/Dog, Coho, Sockeye, and Others), End Product Type (Frozen, Fresh, Canned, and Others), Distribution Channel (Foodservice, Retail), and Region 2023-2028” The study provides a detailed analysis of the industry, including the global salmon market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How big is the salmon market?

The global salmon market size reached 3.5 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 4.3 Million Tons by 2028, exhibiting a growth rate (CAGR) of 3.54% during 2023-2028.

What is Salmon?

Salmon is a popular fish known for its rich, flavorful flesh and high nutritional content. Native to both the Atlantic and Pacific Oceans, it is classified within the Salmonidae family, primarily in the genera Salmo and Oncorhynchus. Apart from its distinct taste, salmon is highly regarded for its excellent health benefits, as it is rich in omega-3 fatty acids, essential vitamins, and proteins. This fish thrives in freshwater environments during its early and late life stages but predominantly resides in saltwater during its adult phase. The life cycle of salmon is intricate, involving migration from freshwater habitats to the open ocean and then back for reproduction, an event often referred to as salmon runs. Commercially, salmon is harvested in two principal ways: through wild capture from the ocean or through aquaculture, a controlled farming method. In recent years, the farming of salmon has witnessed significant growth due to the escalating demand for this fish in global cuisine, leading to its presence in dishes from sushi in Asia to grilling in the West. As a result, the salmon industry has flourished, making it a staple in seafood markets and menus worldwide.

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Salmon Market Trends and Drivers:

The global salmon market is primarily driven by its growing prominence in the food sector. Moreover, the heightened awareness about the health benefits associated with salmon consumption, including improved cardiovascular health and cognitive function support, has augmented the product demand, especially among health-conscious consumers. Additionally, the expanding middle class in emerging economies, with inflating disposable incomes and a rising preference for premium food products, has propelled market growth. Besides this, the culinary versatility of salmon makes it adaptable to various cuisines and preparation methods, thereby contributing to its widespread acceptance and popularity. In line with this, the emerging trend toward sustainable fishing and aquaculture practices represents another major growth-inducing factor. Environmental concerns about overfishing and the potential negative impacts of fish farming on local ecosystems are driving innovations in sustainable aquaculture and certification programs. Various key players in the market are focusing on producing eco-friendly, traceable, and responsibly farmed salmon to cater to the conscientious consumer base.

Furthermore, recent advancements in transport and logistics have facilitated the global distribution of fresh and frozen salmon, bridging the gap between production centers and end consumers, thereby positively influencing market growth. Along with this, continual product innovations, such as the launch of ready-to-eat, smoked, canned, and other value-added salmon products, have accelerated product sales due to enhanced convenience and varied taste profiles. Other factors, including the emerging health and wellness trend, fusion of inter-regional tastes and cuisines owing to rapid globalization, rising seafood consumption, and easy product availability via e-commerce channels, are also anticipated to catalyze market growth.

Report Segmentation:

The report has segmented the market into the following categories:

Type Insights:

• Farmed
• Wild Captured

Species Insights:

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

End Product Type Insights:

• Frozen
• Fresh
• Canned
• Others

Distribution Channel Insights:

• Foodservice
• Retail

Market Breakup by Region:

Based on Production:

Farmed:

• Norway
• Chile
• Scotland
• Canada
• Faroe Islands
• Others

Wild Captured:

• United States
• Russia
• Japan
• Canada
• Others

Based on Consumption:

• European Union
• Russia
• United States
• Brazil
• Japan
• China
• Others

Who are the key players operating in the industry?

The report covers the major market players including:

• Cremaq Group ASA
• Leroy Seafood Group ASA
• Mowi ASA
• SalMar ASA

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