Top 4 Companies Leading the Global Salmon Market, Fuelled by Growing Demands for Healthy Seafood

The global salmon market is expected to grow at a CAGR of about 4% in the forecast period of 2023-2028. As per the analysis by Expert Market Research, the market is expected to be driven by the growing awareness regarding the health benefits of salmon.

Shifting dietary habits due to sedentary lifestyle choices, rising income rates, growing incidences of chronic diseases, and the increasing focus on holistic health and wellness are driving the demand for salmon. Salmon is an excellent source of protein, vitamin B12, iron, and potassium, among other nutrients. As consumers are concentrating on eliminating or decreasing carbohydrate intake, the demand for salmon in the preparation of spaghetti, salads, burgers, and tartar sauces, among other meals is growing.

The surging availability of value-added salmon products in various formats, including frozen and canned, among others, is aiding the market. With the increasing popularity of products such as salmon spreads and oils, the demand for salmon is surging. The rising working population with hectic schedules is fuelling sales of convenient salmon-based food products. The compact packaging and expanding distribution channels of frozen and canned salmon are anticipated to drive the salmon market demand in the forecast period.

With the increasing awareness regarding the health benefits of salmon, it is also consumed to lower the risk of cancer, cardiovascular issues, and cognitive illnesses, among others. In addition, the growing trend of sustainability is prompting various leading companies to offer sustainably sourced and healthy seafood, including salmon. The globalisation of dietary trends is surging the popularity of cuisines such as smoked salmon across the globe, which is expected to aid the market in the coming years.

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Top 4 Major Salmon Companies in the World

Cermaq Group AS

Cermaq is a salmon and trout aquaculture business with operations in Canada, Norway, and Chile. Cermaq is a Mitsubishi Corporation wholly-owned subsidiary. The company's headquarters are located in Oslo, Norway. It aims to support the United Nations' Sustainable Development Goals by relying on healthy seas to produce sustainable salmon. Through several global and local partnerships, the company intends to transform the food industry towards sustainability.

Lerøy Seafood Group

Lery Seafood Group ASA, headquartered in Bergen, Norway, is a seafood production and distribution business. Hallvar Lry AS, the company's main subsidiary, was established in 1939. The business was family-owned until 1997, when it became a public corporation and was listed on the Oslo Stock Exchange in 2002. The business is engaged in fish farming, with manufacturing plants across several Scandinavian countries. With an employee base of 5,000 across 80 nations, the company deliver nearly 5 million meals annually.

Mowi ASA

Mowi ASA is a Norwegian seafood business with activities in many countries around the globe. It offers healthy and sustainable sea food through its brands like Kristen, Mowi Salmon, and Rebel Fish, among others. Being the largest Atlantic salmon producer, it boasts an employee base of 12,000 across 25 countries. In 2021, the company attained revenues of EUR 4,208 million.

SalMar ASA

SalMar ASA is one of the largest farmed salmon companies. It has 100 Atlantic salmon production licenses in Norway, with locations in Trndelag, Nordmre, and Troms through its subsidiary Senja Sjfarm AS. In 2020, it completed the expansion of Follafoss to surge its production capacity of smolt in central Norway. Moreover, the company aims to enhance the operational efficiency of its farming activities and ensure optimal yields in its processing and sale activities.