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The global salmon market reached a value of US$ 23.2 Billion in 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.
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 2021-2026. Our report has categorized the market based on type, species, end product type and distribution channel.
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.
|Base Year of the Analysis||2020|
|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$ 2999
Corporate License: US$ 3499
|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 was valued at US$ 23.19 Billion in 2020.
We expect the global salmon market to exhibit a CAGR of 6.3% during 2021-2026.
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 and China, 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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