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The global salmon market reached a volume of 3.33 Million Tons in 2021. Looking forward, IMARC Group expects the market to reach 4.17 Million Tons by 2027, exhibiting a CAGR of 3.77% during 2022-2027. 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. These insights are included in the report as a major market contributor.
Salmon is a species of oily, ray-finned fish belonging to the family of Salmonidae. It is rich in astaxanthin, vitamins, potassium, iodine, zinc, protein, omega-3 fatty acids, and other essential nutrients. It aids in reducing the symptoms of rheumatoid arthritis and minimizing the risk of developing heart diseases, cancer, dementia, Alzheimer’s, and other cognitive disorders. It also improves the functions of cells, maintains blood sugar levels, reduces inflammation, and boosts the immune system. As a result, it is widely utilized in the preparation of various food items worldwide.
Salmon Market Trends:
Salmon is used in the preparation of commercial food dishes, such as pizza, pasta, burger, salad, and mac and cheese, which are widely served across restaurants and other food outlets. This, in confluence with the significant growth in the food and beverage (F&B) industry, represents one of the major factors bolstering the market growth. In addition, the growing consumption of seafood on account of the increasing awareness among individuals about its health benefits is influencing the market positively. This can also be attributed to a considerable shift in consumer preferences from high-calorie, carb-based food items to protein-based diets. Moreover, the rising consumption of ready-to-eat (RTE) food products due to busy lifestyles, rapid urbanization, and expanding purchasing power of individuals are catalyzing the demand for frozen and canned salmon-based products. Apart from this, the introduction of value-added products, such as smoked salmon, salmon jerky, salmon oil, salmon lox, and salmon spreads, is creating a positive outlook for the market. Furthermore, the rising farming of aquatic animals and significant improvement in seafood productivity are anticipated to provide lucrative growth opportunities to industry investors.
IMARC Group provides an analysis of the key trends in each sub-segment of the global salmon market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on type, species, end product type and distribution channel.
Breakup by Type:
Farmed salmon dominates the market due to the rising preference for high-quality seafood.
Breakup by Species:
Atlantic species hold the largest segment as they are more nutritious than other species.
Breakup by End Product Type:
Frozen salmon holds the market due to its longer shelf-life and high nutritional value.
Breakup by Distribution Channel:
The foodservice sector holds the largest market share due to the increasing consumer spending on restaurants and other dining establishments.
Regional Insights (Based on Production):
Breakup by Region (Based on Consumption):
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Cermaq Group AS, Lerøy Seafood Group ASA, Mowi ASA, and SalMar ASA.
|Base Year of the Analysis||2021|
|Units||US$ Billion, Million Tons|
|Segment Coverage||Type, Species, End Product Type, Distribution Channel, Region|
|Companies Covered||Cremaq Group ASA, Leroy Seafood Group ASA, Mowi ASA and SalMar ASA|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
The global salmon market to reach a volume of 3.33 Million Tons in 2021.
We expect the global salmon market to exhibit a CAGR of 3.77% during 2022-2027.
The growing consumer inclination from high-calorie, carb-based food items towards protein-rich alternatives represents one of the key factors driving the global salmon market.
Sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of salmon and salmon-based products.
Based on the type, the global salmon market has been divided into farmed salmon and wild captured salmon. Currently, farmed salmon holds the majority of the total market share.
Based on the species, the global salmon market can be segregated into Atlantic, pink, coho, chum/dog, sockeye, and others. Among these, Atlantic currently represents the largest segment.
Based on the end product type, the global salmon market has been bifurcated into fresh, canned, frozen, and others, where frozen salmon currently exhibits a clear dominance in the market.
Based on the distribution channel, the global salmon market can be categorized into retail and foodservice. Currently, foodservice distribution channel holds the majority of the total market share.
On a regional level, the production of the global wild captured salmon market has been classified into United States, Russia, Canada, Japan, and others, where United States is leading the global market.
On a regional level, the production of the global farmed salmon market can be divided into Norway, Scotland, the Faroe Islands, Chile, Canada, and others. Currently, Norway dominates the global market.
On a regional level, the consumption of the market has been segmented into European Union, United States, Russia, Japan, Brazil, China and others, where the European Union currently holds the largest segment.
Some of the major players in the global salmon market include Cremaq Group ASA, Leroy Seafood Group ASA, Mowi ASA, and SalMar ASA.
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