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Global Salmon Market Growth, Analysis, Outlook, Report: By Type: Farmed, Wild Captured; By Species: Atlantic, Pink, Chum/Dog, Coho, Sockeye, Others; By End Product: Frozen, Fresh, Canned, Others; By Distribution Channel: Foodservice, Retail, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Global Salmon Market Outlook
The global salmon market size reached a volume of about 4.50 million tons in 2023. The salmon market is further expected to increase at a CAGR of 4% between 2024 and 2032 to reach a volume of about 6.33 million tons by 2032.
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On the basis of production, farmed salmon are primarily raised in Norway, followed by Chile, Scotland, Canada, and the Faroe Islands. The United States is the largest wild salmon catch area, followed by Russia, Japan, and Canada. The European Union, the United States, Russia, China, Brazil, and Japan are significant consumption regions of the product. The European Union accounts for the largest share of the overall salmon market.
Properties and Applications
Salmon is a genus of ray-finned fish associated with the Salmonidae family found in the North Atlantic and Pacific Oceans. Salmon is commonly used in the world because it is high in calcium, iodine, vitamin D, vitamin B3, zinc, phosphorus, and omega-3 fatty acids. Because it is known to be one of the main sources of eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA), its intake provides several health benefits, like helping to minimise inflammation, reduce the risk of cancer, lower blood pressure, and improve the function of the cells lining the arteries. Salmon is an important part of the preparation of a wide variety of meals, including sushi, salads, tartar, burgers, and pasta.
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On the basis of type, the global salmon market can be divided into:
- Farmed
- Wild Captured
The species of salmon can be segmented into:
- Atlantic
- Pink
- Chum/Dog
- Coho
- Sockeye
- Others
The end product type can be categorised as follows:
- Frozen
- Fresh
- Canned
- Others
The distribution channels can be segmented into the following:
- Foodservice
- Retail
- Others
The farmed variant is majorly produced in the following regions:
- Norway
- Chile
- Scotland
- Canada
- Faroe Islands
- Others
The wild captured variant are majorly found in the following regions:
- United States
- Russia
- Japan
- Canada
- Others
The major consuming regions of the product include the following:
- European Union
- Russia
- United States
- Brazil
- Japan
- China
- Others
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Market Analysis
There has been a change in individual patterns of consumption due to multiple factors, such as sedentary lifestyle preferences, growing income rates, increasing prevalence of chronic conditions, and increasing knowledge of health and wellness. People concentrate on removing or reducing carbohydrate-charged food products from their everyday diet and increasing the intake of protein-rich food products. As a consequence, salmon are frequently used in the making of pasta, salads, burgers, tartar sauces, and other dishes typically eaten as part of their daily diet. In addition, a range of value-added items are launched by producers, like canned, frozen, smoked, and suckling salmon, along with salmon oil, lox, and spreads. The growing working population, in combination with busy schedules for individuals, is increasing the sales of ready-to-eat (RTE) and easy-to-cook food items. Consistent with this, compact packaging and easy availability of frozen and canned salmon are expected to fuel the demand growth of the salmon market in the coming years.
Competitive Landscape
The report gives a detailed analysis of the following key players in the global salmon market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Cermaq Group AS
- Lerøy Seafood Group
- Mowi ASA
- SalMar ASA
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Species, End Product, Distribution Channel, Major Producing Countries, Major Consuming Countries |
| Breakup by Type | Farmed, Wild Captured |
| Breakup by Species | Atlantic, Pink, Chum/Dog, Coho, Sockeye, Others |
| Breakup by End Product | Frozen, Fresh, Canned, Others |
| Breakup by Distribution Channel | Foodservice, Retail, Others |
|
Production Breakup by Country |
Norway, Chile, Scotland, Canada, Faroe Islands, United States, Russia, Japan, Others |
|
Consumption Breakup by Country |
European Union, Russia, United States, Brazil, Japan, China, Others |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Trade Data Analysis | Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume |
| Price Analysis | Historical and Forecast Price Trends- Regional |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Cermaq Group AS, Lerøy Seafood Group, Mowi ASA, SalMar ASA, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Salmon Market Analysis
8.1 Key Industry Highlights
8.2 Global Salmon Historical Market (2018-2023)
8.3 Global Salmon Market Forecast (2024-2032)
8.4 Global Salmon Market by Type
8.4.1 Farmed
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Wild Captured
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Salmon Market by Species
8.5.1 Atlantic
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Pink
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Chum/Dog
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Coho
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Sockeye
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Others
8.6 Global Salmon Market by End Product
8.6.1 Frozen
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Fresh
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Canned
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Others
8.7 Global Salmon Market by Distribution Channel
8.7.1 Foodservice
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Retail
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Others
9 Regional Analysis
9.1 Global Salmon Market by Major Producing Countries
9.1.1 Farmed
9.1.1.1 Norway
9.1.1.1.1 Historical Trend (2018-2023)
9.1.1.1.2 Forecast Trend (2024-2032)
9.1.1.2 Chile
9.1.1.2.1 Historical Trend (2018-2023)
9.1.1.2.2 Forecast Trend (2024-2032)
9.1.1.3 Scotland
9.1.1.3.1 Historical Trend (2018-2023)
9.1.1.3.2 Forecast Trend (2024-2032)
9.1.1.4 Canada
9.1.1.4.1 Historical Trend (2018-2023)
9.1.1.4.2 Forecast Trend (2024-2032)
9.1.1.5 Faroe Islands
9.1.1.5.1 Historical Trend (2018-2023)
9.1.1.5.2 Forecast Trend (2024-2032)
9.1.1.6 Others
9.1.2 Wild Captured
9.1.2.1 United States
9.1.2.1.1 Historical Trend (2018-2023)
9.1.2.1.2 Forecast Trend (2024-2032)
9.1.2.2 Russia
9.1.2.2.1 Historical Trend (2018-2023)
9.1.2.2.2 Forecast Trend (2024-2032)
9.1.2.3 Japan
9.1.2.3.1 Historical Trend (2018-2023)
9.1.2.3.2 Forecast Trend (2024-2032)
9.1.2.4 Canada
9.1.2.4.1 Historical Trend (2018-2023)
9.1.2.4.2 Forecast Trend (2024-2032)
9.1.2.5 Others
9.2 Global Salmon Market by Major Consuming Countries
9.2.1 European Union
9.2.1.1 Historical Trend (2018-2023)
9.2.1.2 Forecast Trend (2024-2032)
9.2.2 Russia
9.2.2.1 Historical Trend (2018-2023)
9.2.2.2 Forecast Trend (2024-2032)
9.2.3 United States
9.2.3.1 Historical Trend (2018-2023)
9.2.3.2 Forecast Trend (2024-2032)
9.2.4 Brazil
9.2.4.1 Historical Trend (2018-2023)
9.2.4.2 Forecast Trend (2024-2032)
9.2.5 Japan
9.2.5.1 Historical Trend (2018-2023)
9.2.5.2 Forecast Trend (2024-2032)
9.2.6 China
9.2.6.1 Historical Trend (2018-2023)
9.2.6.2 Forecast Trend (2024-2032)
9.2.7 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyers Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Trade Data Analysis
12.1 Major Importing Countries
12.1.1 By Volume
12.1.2 By Value
12.2 Major Exporting Countries
12.2.1 By Volume
12.2.2 By Value
13 Price Analysis
13.1 Historical Price Trends (2018-2023) and Forecast (2024-2032)
14 Salmon Processing
14.1 Detailed Process Flow
14.2 Operations Involved
14.3 Mass Balance
15 Project Details and Cost Analysis
15.1 Land, Location and Site Development
15.2 Construction
15.3 Plant Layout
15.4 Plant Machinery
15.5 Raw Material Requirement
15.6 Packaging
15.7 Transportation
15.8 Utilities
15.9 Manpower
15.10 Other Capital Investment
16 Loans and Financial Assistance
17 Project Economics
17.1 Capital Cost of Project
17.2 Techno-Economic Parameters
17.3 Product Pricing and Margins
17.4 Taxation and Depreciation
17.5 Income Projections
17.6 Expenditure Projections
17.7 Financial Analysis
18 Competitive Landscape
18.1 Market Structure
18.2 Key Players’ Market Share
18.3 Company Profiles
18.3.1 Cermaq Group AS
18.3.1.1 Company Overview
18.3.1.2 Product Portfolio
18.3.1.3 Demographic Reach and Achievements
18.3.1.4 Financial Summary
18.3.1.5 Certifications
18.3.2 Lerøy Seafood Group
18.3.2.1 Company Overview
18.3.2.2 Product Portfolio
18.3.2.3 Demographic Reach and Achievements
18.3.2.4 Financial Summary
18.3.2.5 Certifications
18.3.3 Mowi ASA
18.3.3.1 Company Overview
18.3.3.2 Product Portfolio
18.3.3.3 Demographic Reach and Achievements
18.3.3.4 Financial Summary
18.3.3.5 Certifications
18.3.4 SalMar ASA
18.3.4.1 Company Overview
18.3.4.2 Product Portfolio
18.3.4.3 Demographic Reach and Achievements
18.3.4.4 Financial Summary
18.3.4.5 Certifications
18.3.5 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Salmon Market: Key Industry Highlights, 2018 and 2032
2. Global Salmon Historical Market: Breakup by Type (Million Tons), 2018-2023
3. Global Salmon Market Forecast: Breakup by Type (Million Tons), 2024-2032
4. Global Salmon Historical Market: Breakup by Species (Million Tons), 2018-2023
5. Global Salmon Market Forecast: Breakup by Species (Million Tons), 2024-2032
6. Global Salmon Historical Market: Breakup by End-Product (Million Tons), 2018-2023
7. Global Salmon Market Forecast: Breakup by End-Product (Million Tons), 2024-2032
8. Global Salmon Historical Market: Breakup by Distribution Channel (Million Tons), 2018-2023
9. Global Salmon Market Forecast: Breakup by Distribution Channel (Million Tons), 2024-2032
10. Global Salmon Historical Market: Breakup by Major Producing Countries (Million Tons), 2018-2023
11. Global Salmon Market Forecast: Breakup by Major Producing Countries (Million Tons), 2024-2032
12. Global Salmon Historical Market: Breakup by Major Consuming Countries (Million Tons), 2018-2023
13. Global Salmon Market Forecast: Breakup by Major Consuming Countries (Million Tons), 2024-2032
14. Major Importing Countries by Volume (2020)
15. Major Exporting Countries by Volume (2020)
16. Major Importing Countries by Value Million USD (2020)
17. Major Exporting Countries by Value Million USD (2020)
18. Historical Price Trends and Forecast 2018-2028
19. Global Salmon Market Structure
Key Questions Answered in the Report
In 2023, the global salmon market reached a volume of nearly 4.50 million tons.
In the forecast period of 2024-2032, the market is projected to grow at a CAGR of 4%.
By 2032, the market is estimated to attain a value of almost 6.33 million tons.
The rising health consciousness, the increasing disposable incomes, the easy availability of canned and frozen variants of salmon are the major market drivers.
The launch of value-added items by producers, like canned salmon, frozen, smoked, and suckling salmon, along with salmon oil, lox, and spreads, is a major trend driving the growth of the salmon market.
The major farmed salmon producing countries are Norway, Chile, Scotland, Canada, and Faroe Islands, among others, whereas the major wild captured salmon producing countries are the United States, Russia, Japan, and Canada, among others.
The European Union, Russia, the United States, Brazil, Japan, and China, among others, are the leading salmon consuming countries globally.
The major types of salmon in the market are farmed and wild captured.
The significant species of salmon considered in the market report include Atlantic, Pink, Chum/Dog, Coho, and Sockeye, among others.
The major end products of salmon include frozen, fresh, and canned, among others.
The several distribution channels in the market are foodservice and retail, among others.
The leading players in the market are Cermaq Group AS, Lerøy Seafood Group, Mowi ASA, and SalMar ASA, among others.
Analyst Review
The global salmon market attained a volume of 4.50 million tons in 2023 driven by growing shift towards low-carb diet. Aided by the introduction of varied product types, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 4%. The salmon market is projected to reach 6.33 million tons by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on type, the salmon market can be segmented into farmed and wild captured. On the basis of the species of salmon, the market can be divided into Atlantic, Pink, Chum/Dog, Coho, Sockeye, and others. Frozen, fresh, and canned, among others, are the major end product types of salmon. Based on distribution channels, the market can be divided into foodservice and retail, among others. While Norway is leading producer of farmed salmon, the United States is most significant wild salmon catch area. The European Union accounts for the largest consumption of the product. The key players in the above market include Cermaq Group AS, Lerøy Seafood Group, Mowi ASA, and SalMar ASA, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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