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Salmon Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

The global salmon market reached a volume of 3.8 Million Tons in 2019. 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.

Global Salmon Market

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. On account of these factors, IMARC Group expects the market volume to reach 4.9 Million Tons by 2025, at a CAGR of 3.9% during 2020-2025.

Breakup by Type:

  • Farmed
  • Wild Captured


Farmed salmon exhibits a clear dominance in the market.

Breakup by Species:

  • Atlantic
  • Pink
  • Chum/Dog
  • Coho
  • Sockeye
  • Others


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:

  • Frozen
  • Fresh
  • Canned
  • Others


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:

  • Foodservice
  • Retail


Salmon is widely distributed through the foodservice sector, which primarily includes restaurants, hotels and fast-food chains.

Regional Insights (Based on Production):

Farmed:

  • Norway
  • Chile
  • Scotland
  • Canada
  • Faroe Islands
  • Others

Wild Captured:

  • United States
  • Russia
  • Japan
  • Canada
  • Others

 

Breakup by Region (Based on Consumption):

  • European Union
  • Russia
  • United States
  • Brazil
  • Japan
  • China
  • Others

 

Competitive Landscape:

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:

  • How has the global salmon market performed so far, and how will it perform in the coming years?
  • What is the breakup of the market based on the type?
  • What is the breakup of the market based on the species?
  • What is the breakup of the market based on the end-product type?
  • What is the breakup of the market based on the distribution channels?
  • What are the key regional markets in the industry based on the production?
  • What are the key regional segments in industry based on the consumption?
  • What are the price trends of salmon?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the industry and who are the key players?
  • What is the degree of competition in the industry?
  • What are the profit margins in the industry?
  • What are the key requirements for setting up a manufacturing 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
    5.3    Market Forecast
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 Species
    7.1    Atlantic
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Pink
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Chum/Dog
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Coho
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    Sockeye
        7.5.1 Market Trends
        7.5.2 Market Forecast
    7.6    Others
        7.6.1 Market Trends
        7.6.2 Market Forecast
8    Market Breakup by End-Product Type
    8.1    Frozen
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Fresh
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Canned
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Others
        8.4.1 Market Trends
        8.4.2 Market Forecast
9    Market Breakup by Distribution Channel
    9.1    Foodservice
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Retail
        9.2.1 Market Trends
        9.2.2 Market Forecast
10    Market Breakup by Producing Region
    10.1    Farmed
        10.1.1    Norway
             10.1.1.1 Market Trends
             10.1.1.2 Market Forecast
        10.1.2    Chile
             10.1.2.1 Market Trends
             10.1.2.2 Market Forecast
        10.1.3    Scotland
             10.1.3.1 Market Trends
             10.1.3.2 Market Forecast
        10.1.4    Canada
             10.1.4.1 Market Trends
             10.1.4.2 Market Forecast
        10.1.5    Faroe Islands
             10.1.5.1 Market Trends
             10.1.5.2 Market Forecast
        10.1.6    Others
             10.1.6.1 Market Trends
             10.1.6.2 Market Forecast
    10.2    Wild Captured
        10.2.1   United States
             10.2.1.1 Market Trends
             10.2.1.2 Market Forecast
        10.2.2    Russia
             10.2.2.1 Market Trends
             10.2.2.2 Market Forecast
        10.2.3    Japan
             10.2.3.1 Market Trends
             10.2.3.2 Market Forecast
        10.2.4    Canada
             10.2.4.1 Market Trends
             10.2.4.2 Market Forecast
        10.2.5    Others
             10.2.5.1 Market Trends
             10.2.5.2 Market Forecast
11    Market Breakup by Consuming Region
    11.1    European Union
        11.1.1 Market Trends
        11.1.2 Market Forecast
    11.2    Russia
        11.2.1 Market Trends
        11.2.2 Market Forecast
    11.3    United States
        11.3.1 Market Trends
        11.3.2 Market Forecast
    11.4    Brazil
        11.4.1 Market Trends
        11.4.2 Market Forecast
    11.5    Japan
        11.5.1 Market Trends
        11.5.2 Market Forecast
    11.6    China
        11.6.1 Market Trends
        11.6.2 Market Forecast
    11.7    Others
        11.7.1 Market Trends
        11.7.2 Market Forecast
12    SWOT Analysis
    12.1    Overview
    12.2    Strengths
    12.3    Weaknesses
    12.4    Opportunities
    12.5    Threats
13    Value Chain Analysis
14    Porters Five Forces Analysis

    14.1    Overview
    14.2    Bargaining Power of Buyers
    14.3    Bargaining Power of Suppliers
    14.4    Degree of Competition
    14.5    Threat of New Entrants
    14.6    Threat of Substitutes
15    Price Indicators
    15.1    Key Price Indicators
    15.2    Price Structure
    15.3    Price Trends
16    Salmon Processing
    16.1    Product Overview
    16.2    Detailed Process Flow
    16.3    Various Types of Unit Operations Involved
    16.4    Mass Balance and Raw Material Requirements
    16.5    Key Success and Risk Factors
17    Project Details, Requirements and Costs Involved
    17.1    Land, Location and Site Development
    17.2    Construction Requirements and Expenditures
    17.3    Plant Machinery
    17.4    Raw Materials Requirements and Expenditures
    17.5    Packaging Requirements and Expenditures
    17.6    Transportation Requirements and Expenditures
    17.7    Utilities Requirements and Expenditures
    17.8    Manpower Requirements and Expenditures
    17.9    Other Capital Investments
18    Loans and Financial Assistance
19    Project Economics

    19.1    Capital Cost of the Project
    19.2    Techno-Economic Parameters
    19.3    Product Pricing and Margins Across Various Levels of the Supply Chain
    19.4    Income Projections
    19.5    Expenditure Projections
    19.6    Taxation and Depreciation
    19.7    Financial Analysis
    19.8    Profit Analysis
20    Competitive Landscape
    20.1    Market Structure
    20.2    Key Players Market Share
    20.3    Profiles of Key Players 
        20.3.1   Cremaq
        20.3.2   Leroy Seafood Group
        20.3.3   Mowi ASA
        20.3.4   SalMar

List of Figures
Figure 1: Global: Salmon Market: Major Drivers and Challenges
Figure 2: Global: Salmon Market: Production Volume (in Million Tons), 2014-2019
Figure 3: Global: Salmon Market: Consumption Volume (in Million Tons), 2014-2019
Figure 4: Global: Salmon Market: Consumption Value (in Billion US$), 2014-2019
Figure 5: Global: Salmon Market: Breakup by Type (in %), 2019
Figure 6: Global: Salmon Market: Breakup by Species (in %), 2019
Figure 7: Global: Salmon Market: Breakup by End-Product Types (in %), 2019
Figure 8: Global: Salmon Market: Breakup by Distribution Channel (in %), 2019
Figure 9: Global: Salmon Market: Breakup by Farmed Salmon Producing Regions (in %), 2019
Figure 10: Global: Salmon Market: Breakup by Wild Captured Salmon Regions (in %), 2019
Figure 11: Global: Salmon Market: Breakup by Consuming Region (in %), 2019
Figure 12: Global: Salmon Market Forecast: Production Volume (in Million Tons), 2020-2025
Figure 13: Global: Salmon Market Forecast: Consumption Volume (in Million Tons), 2020-2025
Figure 14: Global: Salmon Market Forecast: Consumption Value (in Billion US$), 2020-2025
Figure 15: Global: Salmon (Farmed) Market: Production Volume (in ‘000 Tons), 2014 & 2019 
Figure 16: Global: Salmon (Farmed) Market Forecast: Production Volume (in ‘000 Tons), 2020-2025 
Figure 17: Global: Salmon (Wild Captured) Market: Production Volume (in ‘000 Tons), 2014 & 2019 
Figure 18: Global: Salmon (Wild Captured) Market Forecast: Production Volume (in ‘000 Tons), 2020-2025 
Figure 19: Global: Salmon (Atlantic) Market: Production Volume (in ‘000 Tons), 2014 & 2019
Figure 20: Global: Salmon (Atlantic) Market Forecast: Production Volume (in ‘000 Tons), 2020-2025
Figure 21: Global: Salmon (Pink) Market: Production Volume (in ‘000 Tons), 2014 & 2019
Figure 22: Global: Salmon (Pink) Market Forecast: Production Volume (in ‘000 Tons), 2020-2025
Figure 23: Global: Salmon (Chum/Dog) Market: Production Volume (in ‘000 Tons), 2014 & 2019
Figure 24: Global: Salmon (Chum/Dog) Market Forecast: Production Volume (in ‘000 Tons), 2020-2025
Figure 25: Global: Salmon (Coho) Market: Production Volume (in ‘000 Tons), 2014 & 2019
Figure 26: Global: Salmon (Coho) Market Forecast: Production Volume (in ‘000 Tons), 2020-2025
Figure 27: Global: Salmon (Sockeye) Market: Production Volume (in ‘000 Tons), 2014 & 2019
Figure 28: Global: Salmon (Sockeye) Market Forecast: Production Volume (in ‘000 Tons), 2020-2025
Figure 29: Global: Salmon (Others) Market: Production Volume (in ‘000 Tons), 2014 & 2019
Figure 30: Global: Salmon (Others) Market Forecast: Production Volume (in ‘000 Tons), 2020-2025
Figure 31: Global: Salmon (Frozen) Market: Consumption Volume (in ‘000 Tons), 2014 & 2019
Figure 32: Global: Salmon (Frozen) Market Forecast: Consumption Volume (in ‘000 Tons), 2020-2025
Figure 33: Global: Salmon (Fresh) Market: Consumption Volume (in ‘000 Tons), 2014 & 2019
Figure 34: Global: Salmon (Fresh) Market Forecast: Consumption Volume (in ‘000 Tons), 2020-2025
Figure 35: Global: Salmon (Canned) Market: Consumption Volume (in ‘000 Tons), 2014 & 2019
Figure 36: Global: Salmon (Canned) Market Forecast: Consumption Volume (in ‘000 Tons), 2020-2025
Figure 37: Global: Salmon (Others) Market: Consumption Volume (in ‘000 Tons), 2014 & 2019
Figure 38: Global: Salmon (Others) Market Forecast: Consumption Volume (in ‘000 Tons), 2020-2025
Figure 39: Global: Salmon (Foodservice) Market: Sales Volume (in ‘000 Tons), 2014 & 2019
Figure 40: Global: Salmon (Foodservice) Market Forecast: Sales Volume (in ‘000 Tons), 2020-2025
Figure 41: Global: Salmon (Retail) Market: Sales Volume (in ‘000 Tons), 2014 & 2019
Figure 42: Global: Salmon (Retail) Market Forecast: Sales Volume (in ‘000 Tons), 2020-2025
Figure 43: Norway: Farmed Salmon Market: Production Volume (in ‘000 Tons), 2014 & 2019 
Figure 44: Norway: Farmed Salmon Market Forecast: Production Volume (in ‘000 Tons), 2020-2025 
Figure 45: Chile: Farmed Salmon Market: Production Volume (in ‘000 Tons), 2014 & 2019 
Figure 46: Chile: Farmed Salmon Market Forecast: Production Volume (in ‘000 Tons), 2020-2025 
Figure 47: Scotland: Farmed Salmon Market: Production Volume (in ‘000 Tons), 2014 & 2019 
Figure 48: Scotland: Farmed Salmon Market Forecast: Production Volume (in ‘000 Tons), 2020-2025 
Figure 49: Canada: Farmed Salmon Market: Production Volume (in ‘000 Tons), 2014 & 2019 
Figure 50: Canada: Farmed Salmon Market Forecast: Production Volume (in ‘000 Tons), 2020-2025 
Figure 51: Faroe Islands: Farmed Salmon Market: Production Volume (in ‘000 Tons), 2014 & 2019 
Figure 52: Faroe Islands: Farmed Salmon Market Forecast: Production Volume (in ‘000 Tons), 2020-2025 
Figure 53: Others: Farmed Salmon Market: Production Volume (in ‘000 Tons), 2014 & 2019 
Figure 54: Others: Farmed Salmon Market Forecast: Production Volume (in ‘000 Tons), 2020-2025 
Figure 55: United States: Wild Captured Salmon Market: Production Volume (in ‘000 Tons), 2014 & 2019 
Figure 56: United States: Wild Captured Salmon Market Forecast: Production Volume (in ‘000 Tons), 2020-2025 
Figure 57: Russia: Wild Captured Salmon Market: Production Volume (in ‘000 Tons), 2014 & 2019 
Figure 58: Russia: Wild Captured Salmon Market Forecast: Production Volume (in ‘000 Tons), 2020-2025 
Figure 59: Japan: Wild Captured Salmon Market: Production Volume (in ‘000 Tons), 2014 & 2019 
Figure 60: Japan: Wild Captured Salmon Market Forecast: Production Volume (in ‘000 Tons), 2020-2025 
Figure 61: Canada: Wild Captured Salmon Market: Production Volume (in ‘000 Tons), 2014 & 2019 
Figure 62: Canada: Wild Captured Salmon Market Forecast: Production Volume (in ‘000 Tons), 2020-2025 
Figure 63: Others: Wild Captured Salmon Market: Production Volume (in ‘000 Tons), 2014 & 2019 
Figure 64: Others: Wild Captured Salmon Market Forecast: Production Volume (in ‘000 Tons), 2020-2025 
Figure 65: European Union: Salmon Market: Consumption Volume (in ‘000 Tons), 2014 & 2019
Figure 66: European Union: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2020-2025
Figure 67: Russia: Salmon Market: Consumption Volume (in ‘000 Tons), 2014 & 2019
Figure 68: Russia: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2020-2025
Figure 69: United States: Salmon Market: Consumption Volume (in ‘000 Tons), 2014 & 2019
Figure 70: United States: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2020-2025
Figure 71: Brazil: Salmon Market: Consumption Volume (in ‘000 Tons), 2014 & 2019
Figure 72: Brazil: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2020-2025
Figure 73: Japan: Salmon Market: Consumption Volume (in ‘000 Tons), 2014 & 2019
Figure 74: Japan: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2020-2025
Figure 75: China: Salmon Market: Consumption Volume (in ‘000 Tons), 2014 & 2019
Figure 76: China: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2020-2025
Figure 77: Others: Salmon Market: Consumption Volume (in ‘000 Tons), 2014 & 2019
Figure 78: Others: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2020-2025
Figure 79: Global: Salmon Industry: SWOT Analysis
Figure 80: Global: Salmon Industry: Value Chain Analysis
Figure 81: Global: Salmon Industry: Porter’s Five Forces Analysis
Figure 82: Global: Salmon Market: Average Prices (in US$/Ton), 2014-2019
Figure 83: Global: Salmon Market Forecast: Average Price (in US$/Ton), 2020-2025
Figure 84: Salmon Market: Price Structure Analysis (in %)
Figure 85: Salmon Industry: Profit Margins at Various Levels of the Supply Chain
Figure 86: Salmon Processing Plant: Detailed Process Flow
Figure 87: Salmon Processing Plant: Various Types of Unit Operations Involved
Figure 88: Salmon Processing: Conversion Rate of Feedstocks
Figure 89: Salmon Processing Plant: Breakup of Capital Costs (in %)
Figure 90: Salmon Industry: Profit Margins at Various Stages of Supply Chain
Figure 91: Salmon Processing Plant: Breakup of Operational Costs
Figure 92: Global: Salmon Market: Breakup by Key Players (in %)

 

List of Tables

Table 1: Global: Salmon Market: Key Industry Highlights, 2019 and 2025
Table 2: Global: Salmon Market Forecast: Breakup by Type (in ‘000 Tons), 2020-2025
Table 3: Global: Salmon Market Forecast: Breakup by Species (in ‘000 Tons), 2020-2025
Table 4: Global: Salmon Market Forecast: Breakup by End-Product Types (in ‘000 Tons), 2020-2025
Table 5: Global: Salmon Market Forecast: Breakup by Distribution Channels (in ‘000 Tons), 2020-2025
Table 6: Global: Salmon Market Forecast: Breakup by Producing Regions (in ‘000 Tons), 2020-2025
Table 7: Global: Salmon Market Forecast: Breakup by Consuming Region (in ‘000 Tons), 2020-2025
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$)

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