IMARC Group’s latest report, titled “Salmon Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the global salmon market size witnessed moderate growth during 2015-2020. Salmon is one of the most popular and traded seafood species that belongs to the Salmonidae family. It is commonly found across the Northern Atlantic and Pacific oceans. Salmon is consumed by grilling, broiling, poaching, and pickling and can also be used in a wide variety of preparations. Salmon is rich in nutrients such as proteins, calcium, vitamins B3 and D, zinc, iodine, cholesterol, and omega-3 fatty acid. The presence of these nutrients is known to help in reducing the risk of cancer, improving cell function and lowering blood pressure levels.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Salmon Market Trends:
Salmon is considered a functional food that is used in an array of dishes, including pasta, sushi, burgers, salads, tartar sauce, and tacos. The growing disposable incomes and rising health consciousness have shifted the consumption patterns of individuals. An increasing number of consumers are now opting for lean meat and protein-rich foods like salmon in their daily diets, which is propelling the growth of the market. Besides this, with the growing working population and busy lifestyles, there has been an escalated demand for ready-to-cook and convenient food products like frozen and canned salmon. Furthermore, the introduction of innovative packaging formats by manufacturers like vacuum skin-packed salmon, which keeps the product fresh by eliminating contact with air, is also providing a positive outlook for the market. On account of these factors, IMARC Group expects the market to reach a value of US$ 36.2 Billion by 2026.
- Based on the type, the market has been bifurcated into farmed and wild captured salmon. Among these, farmed salmon accounts for the majority of the total market share.
- On the basis of the species, Atlantic salmon is the most popular species. Other species are pink, coho, chum/dog, sockeye, and others.
- Based on the end product type, the market has been classified into fresh, canned, frozen, and others. Frozen salmon currently dominates the market, holding the largest market share.
- The market has been divided based on the distribution channel into retail and foodservice sectors. At present, salmon is majorly distributed through the foodservice sector.
- On the basis of the production, the United States, Russia, Canada, and Japan are some of the top regions where salmons are captured. On the other hand, farmed salmon is mostly produced in Norway, Scotland, the Faroe Islands, Chile, and Canada.
- Based on consumption, the European Union holds the largest market share. Other regions include the United States, Russia, Japan, Brazil and China.
- The competitive landscape of the market has been examined, with some of the key players being Cremaq Group ASA, Mowi ASA, SalMar ASA, and Leroy Seafood Group ASA.
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