The latest report by IMARC Group, 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 2024-2032", offers a comprehensive analysis of the industry, which comprises insights on the market. The global salmon market size reached 3.6 Million Tons in 2023. Looking forward, IMARC Group expects the market to reach 4.8 Million Tons by 2032, exhibiting a growth rate (CAGR) of 3.1% during 2024-2032.
Factors Affecting the Growth of the Salmon Industry:
Environmental Factors
Environmental factors significantly influence the growth of the salmon industry. Water quality is paramount; salmon thrive in clean, oxygen-rich waters with stable temperatures. Pollution from industrial activities, agricultural runoff, and urbanization can degrade water quality, leading to diseases and reduced salmon populations. Climate change also poses a significant threat, as rising temperatures and altered precipitation patterns affect river flows and ocean currents, disrupting salmon migration and spawning. Additionally, ocean acidification, a consequence of increased CO2 levels, can impair salmon’s ability to sense their environment and find food. Effective environmental management and sustainable practices are crucial to mitigating these impacts and ensuring the industry’s growth.
Economic Factors
Economic factors play a crucial role in the growth of the salmon industry. Market demand for salmon, driven by consumer preferences for healthy and sustainable seafood, directly impacts production levels. Prices of feed, a significant cost in salmon farming, influence profitability. Fluctuations in global trade, tariffs, and import/export regulations can affect market access and competitiveness. Investments in technology and infrastructure, such as advanced aquaculture systems and efficient logistics, enhance productivity and reduce costs. Additionally, government subsidies, grants, and supportive policies can incentivize sustainable practices and innovation in the industry. Balancing cost management with quality and sustainability is essential for long-term economic growth.
Regulatory and Policy Factors
Regulatory and policy factors are critical in shaping the growth trajectory of the salmon industry. Governments enforce regulations to ensure sustainable fishing and farming practices, protect wild salmon populations, and maintain environmental standards. Compliance with these regulations often involves significant costs and operational changes for producers. Policies promoting sustainable aquaculture, such as certification programs and eco-labeling, can enhance market access and consumer trust. International agreements and collaborations play a role in managing transboundary fish stocks and combating illegal, unreported, and unregulated (IUU) fishing. Effective regulation and supportive policies create a stable framework for growth, ensuring the industry can expand while maintaining ecological and social responsibilities.
For an in-depth analysis, you can request a sample copy of the report: https://www.imarcgroup.com/salmon-market/requestsample
Leading Companies Operating in the Global Salmon Market
Cermaq Group
Lerøy Seafood Group ASA
Mowi ASA
SalMar ASA
Salmon Market Report Segmentation:
By Type:
Farmed
Wild Captured
Farmed dominates the market due to the ability to meet high market demand consistently and sustainably through controlled aquaculture practices.
By Species:
Atlantic
Pink
Chum/Dog
Coho
Sockeye
Others
Atlantic accounts for the largest market share due to its faster growth rates, favorable breeding characteristics, and high consumer demand globally.
By End Product Type:
Frozen
Fresh
Canned
Others
Frozen represents the largest segment as it offers longer shelf life and easier transportation, catering to global distribution needs.
By Distribution Channel:
Foodservice
Retail
The foodservice sector holds the largest share due to the high demand for salmon in restaurants, hotels, and catering services, driven by its popularity and versatility in cuisine.
Regional Insights:
Based on Production
Farmed:
Norway
Chile
Scotland
Canada
Faroe Islands
Others
Wild Captured:
United States
Russia
Japan
Canada
Others
Norway and the United States's dominance in the salmon market is attributed to their advanced aquaculture industries, favorable coastal environments, and strong investment in salmon farming infrastructure.
Regional Insights:
Based on Consumption
European Union
Russia
United States
Brazil
Japan
China
Others
The European Union's dominance in the salmon market is attributed to the high preference for seafood, strong purchasing power, and established culinary traditions involving salmon.
Global Salmon Market Trends:
The global salmon market is experiencing robust growth driven by increasing consumer demand for healthy, protein-rich seafood. Apart from this, the rising preference for sustainable and organic salmon due to heightening environmental awareness is another major growth-inducing factor. Besides this, ongoing technological advancements in aquaculture are enhancing production efficiency and quality. The market also sees an expanding range of value-added products such as smoked and ready-to-eat salmon, catering to convenience-focused consumers. Additionally, e-commerce platforms are playing a crucial role in market expansion, providing broader access to diverse consumer bases.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145
