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Global Salmon Market, By Species, By Fish Type, By Distribution Channel, By Product Type, Estimation & Forecast, 2017 - 2027

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  • 242 Pages
  • January 2022
  • Region: Global
  • Astute Analytica
  • ID: 5547481
The global salmon market held a market value of USD 20,880.5 Million in 2021 and is projected to reach USD 27,344.0 Million by the year 2027. The market is anticipated to grow at a CAGR of 4.6% from 2022 to 2027. Approximately, 3,282.72 kilo tons of salmon was estimated to be sold in 2021.

Salmon is a common name for a Salmonidae family’s species of the ray-finned fish. The market is expected to be driven by the rising prevalence of chronic conditions and global rise in penetration of e-commerce sector. Furthermore, rise in consumer awareness towards the health benefits of salmon are also expected to contribute to the market growth.

Despite the driving factors, depletion of sea species are anticipated to hinder the market growth. During the COVID-19 pandemic, the market was negatively impacted due to closure of fishing activities and hence, decrease in the supply of salmon in global markets.

Growth Influencers:

Rise in consumer awareness towards the health benefits of salmon

Salmon provides various health benefits. It is rich in Omega-3 fatty acids, is a great source of protein, high in Vitamin B, good source of potassium, loaded with selenium, contains astaxanthin, reduced the risk of heart diseases, helps in weight management, helps to fight inflammation, and protects brain health. Consumers are getting aware regarding all these benefits, which is increasing its adoption, hence boosting the market growth.

Segments Overview:

The global salmon market is segmented into species, fish type, product type, and distribution channel.

By Species

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

The Atlantic segment is expected to witness the highest growth rate of 4.6% during the projected period owing to its high demand as it is a rich source of vitamins, omega-3 fatty acids, and proteins, as compared to the other species. The coho segment is estimated to surpass a market size of USD 1,000 million by 2025, as it is the next tasting salmon amongst the other varieties.

By Fish Type

  • Farmed
  • Wild

The farmed segment is anticipated to grow at the highest CAGR of about 4.8% over the forecast period owing to the growing aquaculture activities globally, to cater to the increasing demand for salmon.

By Product Type

  • Frozen
  • Fresh
  • Canned
  • Others

The fresh segment is estimated to generate a revenue of around USD 3,000 million by 2024, due to their high demand, as they are more nutrient rich as compared to the frozen or canned salmon. The canned segment is expected to hold a market opportunity of USD 4,700 million during 2021 to 2027, as it is easy to carry and store, which is leading to its rising adoption.

By Distribution Channel

  • Retail
  • E-Commerce (Online)
  • Brick & Mortar Stores (Offline)
  • HoReCa & Wholesale
  • Processed Food Industry
  • Other Institutional Customers

The retail segment is anticipated to grow at the fastest CAGR of 4.8% during the projected period owing to the increasing number of retail stores, that store fish and fish products, globally. The processed food industry segment is estimated to surpass a market size of USD 260 million during 2021 to 2027 owing to the tremendously growing processed food industry.

Regional Overview

By region, the global salmon market is divided into Asia Pacific, Europe, North America, Middle East & Africa, and South America.

The Europe region accounted for the largest market share of more than 45% in 2021 owing to the presence of countries such as Norway, which are the largest producers of Salmon. According to Tridge, in 2020, Norway accounted to 20.66% share in export value globally. This is the highest in Europe as well as world. Other largest exporters of salmon include the UK, Sweden, Iceland, Netherlands, and Greece, among others, which are all European countries.

The Asia Pacific region is expected to witness the fastest growth rate of about 6%, owing to the presence of countries, such as Japan, China, South Korea, and Thailand, as these are amongst the top 5 largest importers of salmon. According to the OEC, in 2019, Japan, China, South Korea, and Thailand imported salmon, pacific, frozen, & whole, worth USD 857 million, USD 356 million, USD 109 million, and USD 68.6 million, respectively.

Competitive Landscape

Major players in the global salmon market include Cermaq Group ASA, Leroy Seafood Group ASA, Mowi ASA, SalMar ASA, AquaChile, Cooke Aquaculture, Bakkafrost, Grieg Seafood, Multiexport, Blumar, Salmones Camanchaca, Australis Seafoods, Nova Sea, Tassal Group, Sinkaberg-Hansen, Nordlaks, Bremnes Seashore, Norway Royal Salmon, Alsaker Fjordbruk, and Other Prominent Players.

These market players are involved in collaborations, mergers & acquisitions, and new product launches, among other initiatives, to strengthen their market presence. For instance, in January 2022, Benchmark Animal Health and Cermaq received funding from the Research Council of Norway for research and development of Tenacibaculum vaccines for Salmon. Furthermore, Bekkafrost collaborated with the salmon industry through the Faroe Fish Farmer’s Association And Global Salmon Initiative (GSI).

The global Salmon market report provides insights on the below pointers:

  • Market Penetration: Provides comprehensive information on the market offered by the prominent players
  • Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
  • Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
  • Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Salmon market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
  • Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
  • Global Salmon Production: Total Harvest of Atlantic Salmon, 2016-2020
  • Salmon Production Cost Breakdown
  • Consumer Behavior Analysis: By Region, By Age, By Gender, By Annual Household Income, Seasonal of Fish
  • Fresh Salmon Export: Trends & Predictions for the Supply of Salmon Consumed (USD Million) in the United States; Largest Fishing Companies
  • Regulatory Landscape: Section 6 of Norwegian Aquaculture Act , Aquaculture Stewardship Council Salmon standard, RSPCA welfare standards for Farmed Atlantic salmon, A Greener World (AGW), Marine Stewardship Council (MSC)

The global Salmon market report answers questions such as:

  • What is the market size and forecast of the Global Salmon Market?
  • What are the inhibiting factors and impact of COVID-19 on the Global Salmon Market during the assessment period?
  • Which are the products/segments/applications/areas to invest in over the assessment period in the Global Salmon Market?
  • What is the competitive strategic window for opportunities in the Global Salmon Market?
  • What are the technology trends and regulatory frameworks in the Global Salmon Market?
  • What is the market share of the leading players in the Global Salmon Market?
  • What modes and strategic moves are considered favorable for entering the Global Salmon Market?
Frequently Asked Questions about the Global Salmon Market

What is the estimated value of the Global Salmon Market?

The Global Salmon Market was estimated to be valued at $20880.5 Million in 2021.

What is the growth rate of the Global Salmon Market?

The growth rate of the Global Salmon Market is 4.6%, with an estimated value of $27344 Million by 2027.

What is the forecasted size of the Global Salmon Market?

The Global Salmon Market is estimated to be worth $27344 Million by 2027.

Who are the key companies in the Global Salmon Market?

Key companies in the Global Salmon Market include Cremaq Group ASA?, Leroy Seafood Group ASA?, Mowi ASA?, SalMar ASA?, AquaChile?, Cooke Aquaculture?, Bakkafrost?, Grieg Seafood?, Multiexport? and Blumar?.

Table of Contents

Chapter 1.? Research Framework?
1.1.? Objective ?
1.2.? Product Overview?
1.2.1.? Market Segmentation?
1.2.2.? Market & Segment Definitions?
1.3.? Research Methodology?
1.3.1.? List of Primary & Secondary Sources?
1.3.2.? Market Size Estimation? Assumption for the Study? Data Triangulation?
Chapter 2.? Executive Summary: Global Salmon Market?
Chapter 3.? Global Salmon Market Overview?
3.1.? Industry Value Chain Analysis?
3.1.1.? Raw Material?
3.1.2.? Processing and Packaging ?
3.1.3.? Distributor?
3.1.4.? End User?
3.2.? Industry Outlook?
3.2.1.? Global Salmon Production ?
3.2.2.? Salmon Production Cost Breakdown?
3.2.3.? Fresh Salmon Export ?
3.2.4.? Consumer Behavior Analysis? Income? Occupation? Seasonal of Fish?
3.2.5.? Trends and Predictions for the Supply of Salmon Consumed in the United States?
3.2.6.? Largest Fishing Companies?
3.3.? PESTLE Analysis?
3.4.? Porter's Five Forces Analysis?
3.4.1.? Bargaining Power of Suppliers?
3.4.2.? Bargaining Power of Buyers?
3.4.3.? Threat of Substitutes?
3.4.4.? Threat of New Entrants?
3.4.5.? Degree of Competition?
3.5.? Market Dynamics and Trends?
3.5.1.? Key Trends?
3.5.2.? Growth Drivers?
3.5.3.? Restraints/ Challenges?
3.6.? Market Growth and Outlook?
3.6.1.? Market Revenue Estimates and Forecast (US$ Mn), 2017-2027?
3.6.2.? Market Volume Estimates and Forecast (MMT), 2017-2027?
3.6.3.? Pricing Analysis?
3.7.? Covid-19 Impact Assessment on Market Growth Trend?
3.7.1.? Growth Trend Shift Analysis?
3.7.2.? Industry Best Practices?
3.8.? Regulatory Landscape?
Chapter 4.? Competition Dashboard?
4.1.? Market Concentration Rate?
4.2.? Company Market Share Analysis (Value %), 2020?
4.3.? Competitor Mapping?
Chapter 5.? Salmon Market Analysis, By Species?
5.1.? Key Insights?
5.2.? Market Size and Forecast, 2017 - 2027 (US$ Mn & MMT)?
5.2.1.? Atlantic?
5.2.2.? Pink?
5.2.3.? Chum/Dog?
5.2.4.? Coho?
5.2.5.? Sockeye?
5.2.6.? Others?
Chapter 6.? Salmon Market Analysis, By Fish Type?
6.1.? Key Insights?
6.2.? Market Size and Forecast, 2017 - 2027 (US$ Mn & MMT)?
6.2.1.? Farmed?
6.2.2.? Wild?
Chapter 7.? Salmon Market Analysis, By Product Type?
7.1.? Key Insights?
7.2.? Market Size and Forecast, 2017 - 2027 (US$ Mn & MMT)?
7.2.1.? Canned?
7.2.2.? Fresh?
7.2.3.? Frozen?
7.2.4.? Others?
Chapter 8.? Salmon Market Analysis, By Retail?
8.1.? Key Insights?
8.2.? Market Size and Forecast, 2017 - 2027 (US$ Mn & MMT)?
8.2.1.? Retail? E-commerce (online)? Brick & Mortar Stores (offline)?
8.2.2.? HoReCa & Wholesale?
8.2.3.? Processed Food Industry?
8.2.4.? Other Institutional Customers?
Chapter 9.? Salmon Market Analysis, By Region?
9.1.? Key Insights?
9.2.? Market Size and Forecast, 2017 - 2027 (US$ Mn & MMT)?
9.2.1.? North America? The U.S.? Canada? Mexico?
9.2.2.? Europe? Western Europe? The UK? Germany? France? Italy? Spain? Rest of Western Europe? Eastern Europe? Poland ? Russia? Rest of Eastern Europe?
9.2.3.? Asia Pacific? China? India? Japan? Australia & New Zealand? ASEAN? Rest of Asia Pacific?
9.2.4.? Middle East & Africa? UAE? Saudi Arabia? South Africa? Rest of MEA?
9.2.5.? South America? Argentina? Brazil? Rest of South America?
Chapter 10.? North America Salmon Market Analysis?
10.1.? Key Insights?
10.2.? Market Size and Forecast, 2017 - 2027 (US$ Mn & MMT)?
10.2.1.? By Species?
10.2.2.? By Type?
10.2.3.? By Product?
10.2.4.? By Distribution Channel?
10.2.5.? By Country?
Chapter 11.? Europe Salmon Market Analysis?
11.1.? Key Insights?
11.2.? Market Size and Forecast, 2017 - 2027 (US$ Mn & MMT)?
11.2.1.? By Species?
11.2.2.? By Type?
11.2.3.? By Product?
11.2.4.? By Distribution Channel?
11.2.5.? By Country?
Chapter 12.? Asia Pacific Salmon Market Analysis?
12.1.? Key Insights?
12.2.? Market Size and Forecast, 2017 - 2027 (US$ Mn & MMT)?
12.2.1.? By Species?
12.2.2.? By Type?
12.2.3.? By Product?
12.2.4.? By Distribution Channel?
12.2.5.? By Country?
Chapter 13.? Middle East and Africa Salmon Market Analysis?
13.1.? Key Insights?
13.2.? Market Size and Forecast, 2017 - 2027 (US$ Mn & MMT)?
13.2.1.? By Species?
13.2.2.? By Type?
13.2.3.? By Product?
13.2.4.? By Distribution Channel?
13.2.5.? By Country?
Chapter 14.? South America Salmon Market Analysis?
14.1.? Key Insights?
14.2. Market Size and Forecast, 2017 - 2027 (US$ Mn & MMT)?
14.2.1.? By Species?
14.2.2.? By Type?
14.2.3.? By Product?
14.2.4.? By Distribution Channel?
14.2.5.? By Country?
Chapter 15.? Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook) *?
15.1.? Cremaq Group ASA?
15.2.? Leroy Seafood Group ASA?
15.3.? Mowi ASA?
15.4.? SalMar ASA?
15.5.? AquaChile?
15.6.? Cooke Aquaculture?
15.7.? Bakkafrost?
15.8.? Grieg Seafood?
15.9.? Multiexport?
15.10.? Blumar?
15.11.? Salmones Camanchaca?
15.12.? Australis Seafoods?
15.13. Nova Sea?
15.14.? Tassal Group?
15.15.? Sinkaberg-Hansen?
15.16.? Nordlaks?
15.17.? Bremnes Seashore?
15.18.? Norway Royal Salmon?
15.19.? Alsaker Fjordbruk?
15.20.? Other Prominent players?

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Cremaq Group ASA​
  • Leroy Seafood Group ASA​
  • Mowi ASA​
  • SalMar ASA​
  • AquaChile​
  • Cooke Aquaculture​
  • Bakkafrost​
  • Grieg Seafood​
  • Multiexport​
  • Blumar​
  • Salmones Camanchaca​
  • Australis Seafoods​
  • Nova Sea​
  • Tassal Group​
  • Sinkaberg-Hansen​
  • Nordlaks​
  • Bremnes Seashore​
  • Norway Royal Salmon​
  • Alsaker Fjordbruk​