The global salmon market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to reach a value of US$ 36.2 Billion by 2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Salmon is a species of ray-finned fish which belongs to the Salmonidae family. It is usually found in the northern Atlantic and Pacific oceans and currently represents the most widely traded seafood species. It is low in saturated fats but rich in nutrients, such as protein, calcium, vitamin B3 and D, zinc, iodine, cholesterol and omega-3 fatty acids. Its regular consumption aids in calming inflammation, lowering blood pressure, minimizing the risk of developing cancer and improving the function of the cells that are lining the arteries. On account of these health benefits, it is used for grilling, broiling, poaching, pickling and roasting and in the preparation of a wide variety of dishes.
Owing to various factors, including sedentary lifestyle habits, inflating income levels, rising prevalence of chronic conditions and the growing awareness about health and wellness, there is a shift in the consumption patterns of individuals. They are focusing on eliminating or reducing carbohydrate-laden food products from their daily diet and increasing the consumption of protein-rich food items. As a result, they are increasingly employing salmon in the preparation of pasta, salads, burgers, tartar sauce and other dishes usually consumed as a part of their daily diet. Apart from this, manufacturers are introducing numerous value-added products, such as canned salmon, frozen salmon, smoked salmon, salmon jerky, salmon oil, salmon lox and salmon spreads. Furthermore, the increasing working population, in confluence with the busy schedules of individuals, is increasing the sales of ready-to-eat (RTE) and easy-to-cook food products. In line with this, convenient packaging and easy availability of frozen and canned salmon is anticipated to propel the market growth in the coming years.
Breakup by Type:
Farmed salmon exhibits a clear dominance in the market.
Breakup by Species:
Atlantic currently represents the most widely consumed salmon species as it is a rich source of proteins, vitamins and omega-3 fatty acids.
Breakup by End Product Type:
The process of freezing salmon aids in increasing its shelf-life, halting the bacterial growth and preserving the nutritional value. Consequently, there is a high demand for frozen salmon across the globe.
Breakup by Distribution Channel:
Salmon is widely distributed through the foodservice sector, which primarily includes restaurants, hotels and fast-food chains.
Regional Insights (Based on Production):
Breakup by Region (Based on Consumption):
The competitive landscape of the industry has also been examined with some of the key players being Cremaq Group ASA, Leroy Seafood Group ASA, Mowi ASA, and SalMar ASA.
Key Questions Answered in This Report:
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