Renub Research provided a thorough industry analysis with market share insights in a recent report titled "Global Salmon Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2027". Global Salmon Market share research is also provided for competitors, market segments, and recent advancements.
Global salmon market is expected to increase by 3.91% CAGR between 2022 and 2027. The recognition of salmon stems from its versatility, well-being, and savory flavor. This fish is prized for its rich taste, organization, texture, high dietary value, and richness in omega-3 fatty acids and protein. Salmon is a multifaceted component that may be prepared in numerous methods, from grilling and baking to sushi and salads, supplying endless culinary opportunities. Its vibrant crimson color and unique flavor make it a favorite in domestic kitchens and upscale consumption places globally, contributing to its enduring reputation and demand.
While Atlantic salmon stays dominant, Coho and Chinook varieties have obtained a stature for their specific flavors and premium pricing. Fresh and frozen segments are important but smoked and value-added forms like frozen fillets are rapidly growing. However, environmental issues require ongoing mitigation efforts, including disorder outbreaks and pollutants in some aquaculture areas. Nevertheless, sustainability is essential, with customers who prefer eco-licensed salmon from accountable aquaculture practices emphasizing the enterprise's willpower to environmental focus. Consequently, the Global Salmon Market will reach US$ 37.40 Billion in 2027.
Europe and North America dominate the global salmon market, consuming most of the harvest. With rising demand, nations, including the U.K., Italy, and Germany, drive regional growth. Increasing exports of aquaculture salmon contribute to further regional growth. The market showcases installed and emerging players' strategic endeavors, such as introducing new products and making acquisitions. For instance, in May 2022, SalMar ASA acquired Norway Royal Salmon, organizing the second-largest Atlantic salmon farming company globally, boosting dividend potential and shareholder value.
Chile maintains a significant import share in the global salmon market.
Despite being a primary exporter, Chile also imports salmon to fulfill domestic demand, reflecting its status as a distinguished purchaser of seafood. Moreover, fluctuations in local manufacturing levels and variations in consumer possibilities propel the need for supplementary imports. Furthermore, Chile's import share is strengthened through its varied market approach, catering to niche segments and presenting a broader range of salmon commodities to meet numerous domestic and international customer alternatives.
Due to numerous strategic factors, Poland has the highest export share in the international salmon market.
Its primary European location facilitates efficient distribution throughout the continent and beyond. Furthermore, Poland boasts a well-evolved aquaculture industry, leveraging superior farming strategies and stringent quality requirements to provide premium salmon products. Competitive manufacturing costs and professional staff, in addition, enhance its export abilities. Poland is becoming a top supplier in the global salmon market due to solid relationships and logistics.
Atlantic Salmon (Salmo salar) is the world's most widely produced salmon species.
The ample presence of Atlantic salmon in the Atlantic Ocean and great aquaculture endeavors drive heightened production levels. Its extensive popularity stems from its remarkable flavor, texture, and dietary benefits, meeting the needs of clients internationally. Also, improvements in aquaculture technology and breeding initiatives have bolstered manufacturing efficiency, reinforcing its status as the premium species in worldwide salmon markets.
Market Summary:
- Import- By import in the Global salmon Market division in 10 viewpoints (Norway, Sweden, Denmark, Poland, Chile, United Kingdom, Germany, Canada, United States, and Australia).
- Export- The market for Global Salmon Industry by export is broken up into 10 viewpoints (Denmark, United States, Germany, France, Spain, Poland, Italy, Brazil, Portugal, and Finland).
- Production Species- The break-up of the Global Salmon Market into 5 viewpoints based on production species (Atlantic Salmon, Pink Salmon, Sockeye Salmon, Coho Salmon, and other species).