Salmon belong to the family Salmonidae and are found in the northern Atlantic and Pacific oceans. They are anadromous, this means that most types of salmon are born in fresh water, migrate to the sea, and then again return back to freshwater to reproduce. These fish have eight fins all together including a tail, also known as caudal fin, which helps them to move easily. Salmon are capable of jumping over four metres to climb waterfalls and stay clear of the obstacles in the water. They are unique in nature as compared to other commercially harvested fish as they swim upstream through the estuaries and into the freshwater for the purpose of reproducing. Salmon can be used for grilling, broiling, poaching, pickling, roasting, smoking as well as for a variety of food preparations such as burgers, tartar, salads and several pasta dishes. According to the latest report by IMARC Group, titled “Salmon Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global salmon market reached a volume of 3.7 Million Tons in 2018.
Over the past few years, there has been an increase in the per capita consumption of protein which has resulted in the rising preference for fish as compared to animal meat as it is a rich source of protein. This is one of the major factors which has been proliferating the growth of the market. Apart from this, salmon also offers high levels of omega-3 fats, EPA and DHA which makes it a popular food product among health-conscious consumers as it is highly beneficial for decreasing the risk of heart diseases, diabetes and obesity. A rising worldwide demand for salmon can also be accredited to a rise in the disposable incomes across both developed and emerging economies. Some of the other factors which have positively influenced the growth of the global salmon market include rising health consciousness, value addition, changing dietary habits, convenient packaging, etc. Looking forward, the market volume is projected to reach 4.7 Million Tons by 2024, expanding at a CAGR of 3.9% during 2019-2024.
Market Summary:
- Based on type, the market has been segmented into farmed and wild captured. Currently, farmed salmon represents the largest segment on account of a significant rise in the salmon aquaculture across the globe.
- On the basis of species, the market has been segregated into Atlantic, Pink, Chum/Dog, Sockeye and Coho. Amongst these, Atlantic salmon represents the most popular species amongst the consumers.
- Based on the distribution channel, the market has been segmented as food service and retail. Foodservice currently represents the largest distribution channel.
- Based on the end-product, the market has been segmented as frozen, fresh and canned. Amongst these, frozen salmon represents the most widely consumed product.
- On the basis of production, Norway is the largest market for farmed salmon followed by Chile, Scotland, Canada and Faroe Islands. On the other hand, for wild captured salmon, the United States represents the biggest producing region followed by Russia, Japan and Canada.
- The salmon market has also been segmented based on end-markets which represent the major consumption regions. This segment is being led by EU followed by the United States, Brazil, China, Russia and Japan.
- The competitive landscape of the global salmon market has also been examined with some of the key players being Marine Harvest, Cermaq, Leroy Seafood group and SalMar.
This report provides a deep insight into the global salmon market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a salmon manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the salmon industry in any manner.
Key Questions Answered in This Report:
- How has the global salmon market performed so far and how will it perform in the coming years?
- What are the different salmon types?
- What are the major distribution channels in the global salmon industry?
- What are the end-product types in the global salmon industry?
- What are the key producing regions for salmon?
- What are the key end-markets for salmon?
- What are the price trends of salmon?
- What are the various stages in the value chain of the salmon industry?
- What are the key driving factors and challenges in the global salmon industry?
- What is the structure of the global salmon industry and who are the key players?
- What is the degree of competition in the global salmon industry?
- What are the profit margins in the global salmon industry?
- What are the key requirements for setting up a salmon processing plant?
- How is salmon processed?
- What are the various unit operations involved in a salmon processing plant?
- What is the total size of land required for setting up a salmon processing plant?
- What are the machinery requirements for setting up a salmon processing plant?
- What are the raw material requirements for setting up a salmon processing plant?
- What are the packaging requirements for salmon?
- What are the transportation requirements for salmon?
- What are the utility requirements for setting up a salmon processing plant?
- What are the manpower requirements for setting up a salmon processing plant?
- What are the infrastructure costs for setting up a salmon processing plant?
- What are the capital costs for setting up a salmon processing plant?
- What are the operating costs for setting up a salmon processing plant?
- What will be the income and expenditures for a salmon processing plant?
- What is the time required to break-even?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Salmon Market
5.1 Market Overview
5.2 Market Performance
5.2.1 Volume Trends
5.2.2 Value Trends
5.3 Market Breakup by Type
5.4 Market Breakup by Producing Region
5.5 Market Breakup by Consuming Region
5.6 Market Breakup by Species
5.7 Market Breakup by End-Product Type
5.8 Market Breakup by Distribution Channel
5.9 Market Forecast
5.10 SWOT Analysis
5.10.1 Overview
5.10.2 Strengths
5.10.3 Weaknesses
5.10.4 Opportunities
5.10.5 Threats
5.11 Value Chain Analysis
5.11.1 Overview
5.11.2 Raw Material Procurement
5.11.3 Primary Processing
5.11.4 Large Scale Industrial Processing
5.11.5 Packaging and Export
5.11.6 Distribution
5.11.7 End-Use
5.12 Porters Five Forces Analysis
5.12.1 Overview
5.12.2 Bargaining Power of Buyers
5.12.3 Bargaining Power of Suppliers
5.12.4 Degree of Competition
5.12.5 Threat of New Entrants
5.12.6 Threat of Substitutes
5.13 Price Analysis
5.13.1 Key Price Indicators
5.13.2 Price Structure
5.13.3 Price Trends
6 Market Breakup by Type
6.1 Farmed
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Wild Captured
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Producing Region
7.1 Farmed
7.1.1 Norway
7.1.1.1 Market Trends
7.1.1.2 Market Forecast
7.1.2 Chile
7.1.2.1 Market Trends
7.1.2.2 Market Forecast
7.1.3 Scotland
7.1.3.1 Market Trends
7.1.3.2 Market Forecast
7.1.4 Canada
7.1.4.1 Market Trends
7.1.4.2 Market Forecast
7.1.5 Faroe Islands
7.1.5.1 Market Trends
7.1.5.2 Market Forecast
7.1.6 Others
7.1.6.1 Market Trends
7.1.6.2 Market Forecast
7.2 Wild Captured
7.2.1 United States
7.2.1.1 Market Trends
7.2.1.2 Market Forecast
7.2.2 Russia
7.2.2.1 Market Trends
7.2.2.2 Market Forecast
7.2.3 Japan
7.2.3.1 Market Trends
7.2.3.2 Market Forecast
7.2.4 Canada
7.2.4.1 Market Trends
7.2.4.2 Market Forecast
7.2.5 Others
7.2.5.1 Market Trends
7.2.5.2 Market Forecast
8 Market Breakup by Consuming Region
8.1 EU
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Russia
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 US
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Brazil
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Japan
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 China
8.6.1 Market Trends
8.6.2 Market Forecast
8.7 Others
8.7.1 Market Trends
8.7.2 Market Forecast
9 Market Breakup by Species
9.1 Atlantic
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Pink
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Chum/Dog
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Coho
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Sockeye
9.5.1 Market Trends
9.5.2 Market Forecast
9.6 Others
9.6.1 Market Trends
9.6.2 Market Forecast
10 Market Breakup by End-Product Type
10.1 Frozen
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Fresh
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 Canned
10.3.1 Market Trends
10.3.2 Market Forecast
10.4 Others
10.4.1 Market Trends
10.4.2 Market Forecast
11 Market Breakup by Distribution Channel
11.1 Foodservice
11.1.1 Market Trends
11.1.2 Market Forecast
11.2 Retail
11.2.1 Market Trends
11.2.2 Market Forecast
12 Competitive Landscape
12.1 Market Structure
12.2 Market Breakup by Key Players
13 Salmon Processing
13.1 Product Overview
13.2 Detailed Process Flow
13.3 Various Types of Unit Operations Involved
13.4 Mass Balance and Raw Material Requirements
13.5 Key Success and Risk Factors
14 Project Details, Requirements and Costs Involved
14.1 Land, Location and Site Development
14.2 Construction Requirements and Expenditures
14.3 Plant Machinery
14.4 Raw Materials Requirements and Expenditures
14.5 Packaging Requirements and Expenditures
14.6 Transportation Requirements and Expenditures
14.7 Utilities Requirements and Expenditures
14.8 Manpower Requirements and Expenditures
14.9 Other Capital Investments
15 Loans and Financial Assistance
16 Project Economics
16.1 Capital Cost of the Project
16.2 Techno-Economic Parameters
16.3 Product Pricing and Margins Across Various Levels of the Supply Chain
16.4 Income Projections
16.5 Expenditure Projections
16.6 Taxation and Depreciation
16.7 Financial Analysis
16.8 Profit Analysis
17 Profiles of Key Players
17.1 Marine Harvest
17.1.1 Company Overview
17.1.2 Company Description
17.1.3 Product Portfolio
17.1.4 Financials
17.2 Leroy Seafood Group
17.2.1 Company Overview
17.2.2 Company Description
17.2.3 Product Portfolio
17.2.4 Financials
17.3 Cremaq
17.3.1 Company Overview
17.3.2 Company Description
17.3.3 Product Portfolio
17.3.4 Financials
17.4 SalMar
17.4.1 Company Overview
17.4.2 Company Description
17.4.3 Product Portfolio
17.4.4 Financials
List of Figures
Figure 1: Global: Salmon Market: Major Drivers and Challenges
Figure 2: Global: Salmon Market: Production Volume (in Million Tons), 2011-2018
Figure 3: Global: Salmon Market: Consumption Volume (in Million Tons), 2011-2018
Figure 4: Global: Salmon Market: Consumption Value (in Billion US$), 2011-2018
Figure 5: Global: Salmon Market: Breakup by Type (in %), 2018
Figure 6: Global: Salmon Market: Breakup by Farmed Salmon Producing Regions (in %), 2018
Figure 7: Global: Salmon Market: Breakup by Wild Captured Salmon Regions (in %), 2018
Figure 8: Global: Salmon Market: Breakup by Consuming Region (in %), 2018
Figure 9: Global: Salmon Market: Breakup by Species (in %), 2018
Figure 10: Global: Salmon Market: Breakup by End-Product Types (in %), 2018
Figure 11: Global: Salmon Market: Breakup by Distribution Channel (in %), 2018
Figure 12: Global: Salmon Market Forecast: Production Volume (in Million Tons), 2019-2024
Figure 13: Global: Salmon Market Forecast: Consumption Volume (in Million Tons), 2019-2024
Figure 14: Global: Salmon Market Forecast: Consumption Value (in Billion US$), 2019-2024
Figure 15: Global: Salmon Industry: SWOT Analysis
Figure 16: Global: Salmon Industry: Value Chain Analysis
Figure 17: Global: Salmon Industry: Porter’s Five Forces Analysis
Figure 18: Global: Salmon Market: Average Prices (in US$/Ton), 2011-2018
Figure 19: Global: Salmon Market Forecast: Average Price (in US$/Ton), 2019-2024
Figure 21: Salmon Market: Price Structure Analysis (in %)
Figure 22: Salmon Industry: Profit Margins at Various Levels of the Supply Chain
Figure 23: Global: Farmed Salmon Market: Production Volume (in ‘000 Tons), 2011 & 2018
Figure 24: Global: Farmed Salmon Market Forecast: Production Volume (in ‘000 Tons), 2019-2024
Figure 25: Global: Wild Captured Market: Production Volume (in ‘000 Tons), 2011 & 2018
Figure 26: Global: Wild Captured Market Forecast: Production Volume (in ‘000 Tons), 2019-2024
Figure 27: Norway: Farmed Salmon Market: Production Volume (in ‘000 Tons), 2011 & 2018
Figure 28: Norway: Farmed Salmon Market Forecast: Production Volume (in ‘000 Tons), 2019-2024
Figure 29: Chile: Farmed Salmon Market: Production Volume (in ‘000 Tons), 2011 & 2018
Figure 30: Chile: Farmed Salmon Market Forecast: Production Volume (in ‘000 Tons), 2019-2024
Figure 31: Scotland: Farmed Salmon Market: Production Volume (in ‘000 Tons), 2011 & 2018
Figure 32: Scotland: Farmed Salmon Market Forecast: Production Volume (in ‘000 Tons), 2019-2024
Figure 33: Canada: Farmed Salmon Market: Production Volume (in ‘000 Tons), 2011 & 2018
Figure 34: Canada: Farmed Salmon Market Forecast: Production Volume (in ‘000 Tons), 2019-2024
Figure 35: Faroe Islands: Farmed Salmon Market: Production Volume (in ‘000 Tons), 2011 & 2018
Figure 36: Faroe Islands: Farmed Salmon Market Forecast: Production Volume (in ‘000 Tons), 2019-2024
Figure 37: Others: Farmed Salmon Market: Production Volume (in ‘000 Tons), 2011 & 2018
Figure 38: Others: Farmed Salmon Market Forecast: Production Volume (in ‘000 Tons), 2019-2024
Figure 39: United States: Wild Captured Salmon Market: Production Volume (in ‘000 Tons), 2011 & 2018
Figure 40: United States: Wild Captured Salmon Market Forecast: Production Volume (in ‘000 Tons), 2019-2024
Figure 41: Russia: Wild Captured Salmon Market: Production Volume (in ‘000 Tons), 2011 & 2018
Figure 42: Russia: Wild Captured Salmon Market Forecast: Production Volume (in ‘000 Tons), 2019-2024
Figure 43: Japan: Wild Captured Salmon Market: Production Volume (in ‘000 Tons), 2011 & 2018
Figure 44: Japan: Wild Captured Salmon Market Forecast: Production Volume (in ‘000 Tons), 2019-2024
Figure 45: Canada: Wild Captured Salmon Market: Production Volume (in ‘000 Tons), 2011 & 2018
Figure 46: Canada: Wild Captured Salmon Market Forecast: Production Volume (in ‘000 Tons), 2019-2024
Figure 47: Others: Wild Captured Salmon Market: Production Volume (in ‘000 Tons), 2011 & 2018
Figure 48: Others: Wild Captured Salmon Market Forecast: Production Volume (in ‘000 Tons), 2019-2024
Figure 49: EU: Salmon Market: Consumption Volume (in ‘000 Tons), 2011 & 2018
Figure 50: EU: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2019-2024
Figure 51: Russia: Salmon Market: Consumption Volume (in ‘000 Tons), 2011 & 2018
Figure 52: Russia: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2019-2024
Figure 53: US: Salmon Market: Consumption Volume (in ‘000 Tons), 2011 & 2018
Figure 54: US: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2019-2024
Figure 55: Brazil: Salmon Market: Consumption Volume (in ‘000 Tons), 2011 & 2018
Figure 56: Brazil: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2019-2024
Figure 57: Japan: Salmon Market: Consumption Volume (in ‘000 Tons), 2011 & 2018
Figure 58: Japan: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2019-2024
Figure 59: China: Salmon Market: Consumption Volume (in ‘000 Tons), 2011 & 2018
Figure 60: China: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2019-2024
Figure 61: Others: Salmon Market: Consumption Volume (in ‘000 Tons), 2011 & 2018
Figure 62: Others: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2019-2024
Figure 63: Global: Atlantic Salmon Market: Production Volume (in ‘000 Tons), 2011 & 2018
Figure 64: Global: Atlantic Salmon Market Forecast: Production Volume (in ‘000 Tons), 2019-2024
Figure 65: Global: Pink Salmon Market: Production Volume (in ‘000 Tons), 2011 & 2018
Figure 66: Global: Pink Salmon Market Forecast: Production Volume (in ‘000 Tons), 2019-2024
Figure 67: Global: Chum/Dog Salmon Market: Production Volume (in ‘000 Tons), 2011 & 2018
Figure 68: Global: Chum/Dog Salmon Market Forecast: Production Volume (in ‘000 Tons), 2019-2024
Figure 69: Global: Coho Salmon Market: Production Volume (in ‘000 Tons), 2011 & 2018
Figure 70: Global: Coho Salmon Market Forecast: Production Volume (in ‘000 Tons), 2019-2024
Figure 71: Global: Sockeye Salmon Market: Production Volume (in ‘000 Tons), 2011 & 2018
Figure 72: Global: Sockeye Salmon Market Forecast: Production Volume (in ‘000 Tons), 2019-2024
Figure 73: Global: Other Salmon Market: Production Volume (in ‘000 Tons), 2011 & 2018
Figure 74: Global: Other Salmon Market Forecast: Production Volume (in ‘000 Tons), 2019-2024
Figure 75: Global: Frozen Salmon Market: Consumption Volume (in ‘000 Tons), 2011 & 2018
Figure 76: Global: Frozen Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2019-2024
Figure 77: Global: Fresh Salmon Market: Consumption Volume (in ‘000 Tons), 2011 & 2018
Figure 78: Global: Fresh Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2019-2024
Figure 79: Global: Canned Salmon Market: Consumption Volume (in ‘000 Tons), 2011 & 2018
Figure 80: Global: Canned Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2019-2024
Figure 81: Global: Other End-Product Types Market: Consumption Volume (in ‘000 Tons), 2011 & 2018
Figure 82: Global: Other End-Product Types Market Forecast: Consumption Volume (in ‘000 Tons), 2019-2024
Figure 83: Global: Salmon Market: Sales through Foodservice Sector (in ‘000 Tons), 2011 & 2018
Figure 84: Global: Salmon Market Forecast: Sales through Foodservice Sector (in ‘000 Tons), 2019-2024
Figure 85: Global: Salmon Market: Sales through Retail Sector (in ‘000 Tons), 2011 & 2018
Figure 86: Global: Salmon Market Forecast: Sales through Retail Sector (in ‘000 Tons), 2019-2024
Figure 87: Global: Salmon Market: Breakup by Key Players (in %)
Figure 88: Salmon Processing Plant: Detailed Process Flow
Figure 89: Salmon Processing Plant: Various Types of Unit Operations Involved
Figure 90: Salmon Processing: Conversion Rate of Feedstocks
Figure 91: Salmon Processing Plant: Breakup of Capital Costs (in %)
Figure 92: Salmon Industry: Profit Margins at Various Stages of Supply Chain
Figure 93: Salmon Processing Plant: Breakup of Operational Costs
List of Tables
Table 1: Global: Salmon Market: Key Industry Highlights, 2018 and 2024
Table 2: Global: Salmon Market Forecast: Breakup by Type (in ‘000 Tons), 2019-2024
Table 3: Global: Salmon Market Forecast: Breakup by Producing Regions (in ‘000 Tons), 2019-2024
Table 4: Global: Salmon Market Forecast: Breakup by Consuming Region (in ‘000 Tons), 2019-2024
Table 5: Global: Salmon Market Forecast: Breakup by Species (in ‘000 Tons), 2019-2024
Table 6: Global: Salmon Market Forecast: Breakup by End-Product Types (in ‘000 Tons), 2019-2024
Table 7: Global: Salmon Market Forecast: Breakup by Distribution Channels (in ‘000 Tons), 2019-2024
Table 8: Global: Salmon Market: Competitive Structure
Table 9: Global: Salmon Market: Key Players
Table 10: Salmon Processing Plant: Raw Material Requirements (in Tons/Day)
Table 11: Salmon Processing Plant: Costs Related to Land and Site Development (in US$)
Table 12: Salmon Processing Plant: Costs Related to Civil Works (in US$)
Table 13: Salmon Processing Plant: Costs Related to Plant and Machinery (in US$)
Table 14: Salmon Processing Plant: Raw Material Requirements (in Tons/Day) and Expenditures (US$/Ton)
Table 15: Salmon Processing Plant: Utility Requirements and Expenditures
Table 16: Salmon Processing Plant: Costs Related to Salaries and Wages (in US$)
Table 17: Salmon Processing Plant: Costs Related to Other Capital Investments (in US$)
Table 18: Details of Financial Assistance Offered by Financial Institutions
Table 19: Salmon Processing Plant: Capital Costs (in US$)
Table 20: Salmon Processing Plant: Techno-Economic Parameters
Table 21: Salmon Processing Plant: Income Projections (in US$)
Table 22: Salmon Processing Plant: Expenditure Projections (in US$)
Table 23: Salmon Processing Plant: Taxation (in US$/Year)
Table 24: Salmon Processing Plant: Depreciation (in US$/Year)
Table 25: Salmon Processing Plant: Cash Flow Analysis Without Considering the Income Tax Liability (in US$)
Table 26: Salmon Processing Plant: Profit and Loss Account (in US$)