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.
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.
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