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Salmon Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

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.

Key Market Segmentation:

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
  • Wild Captured
     

Farmed salmon dominates the market due to the rising preference for high-quality seafood.

Breakup by Species:

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

Atlantic species hold the largest segment as they are more nutritious than other species.

Breakup by End Product Type:

  • Frozen
  • Fresh
  • Canned
  • Others
     

Frozen salmon holds the market due to its longer shelf-life and high nutritional value.

Breakup by Distribution Channel:

  • Foodservice
  • Retail
     

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):

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 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
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)

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    Impact of COVID-19
    5.4    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    Market Breakup by Key Players
    20.3    Profiles of Key Players 
        20.3.1   Cremaq Group ASA
        20.3.2   Leroy Seafood Group ASA
        20.3.3   Mowi ASA
        20.3.4   SalMar ASA

List of Figures

Figure 1: Global: Salmon Market: Major Drivers and Challenges
Figure 2: Global: Salmon Market: Production Volume (in Million Tons), 2016-2021
Figure 3: Global: Salmon Market: Consumption Volume (in Million Tons), 2016-2021
Figure 4: Global: Salmon Market: Consumption Value (in Billion US$), 2016-2021
Figure 5: Global: Salmon Market: Breakup by Type (in %), 2021
Figure 6: Global: Salmon Market: Breakup by Species (in %), 2021
Figure 7: Global: Salmon Market: Breakup by End Product Type (in %), 2021
Figure 8: Global: Salmon Market: Breakup by Distribution Channel (in %), 2021
Figure 9: Global: Salmon Market: Breakup by Farmed Salmon Producing Regions (in %), 2021
Figure 10: Global: Salmon Market: Breakup by Wild Captured Salmon Producing Regions (in %), 2021
Figure 11: Global: Salmon Market: Breakup by Consuming Region (in %), 2021
Figure 12: Global: Salmon Market Forecast: Production Volume (in Million Tons), 2022-2027
Figure 13: Global: Salmon Market Forecast: Consumption Volume (in Million Tons), 2022-2027
Figure 14: Global: Salmon Market Forecast: Consumption Value (in Billion US$), 2022-2027
Figure 15: Global: Salmon (Farmed) Market: Production Volume (in ‘000 Tons), 2016 & 2021
Figure 16: Global: Salmon (Farmed) Market Forecast: Production Volume (in ‘000 Tons), 2022-2027 
Figure 17: Global: Salmon (Wild Captured) Market: Production Volume (in ‘000 Tons), 2016 & 2021
Figure 18: Global: Salmon (Wild Captured) Market Forecast: Production Volume (in ‘000 Tons), 2022-2027 
Figure 19: Global: Salmon (Atlantic) Market: Production Volume (in ‘000 Tons), 2016 & 2021
Figure 20: Global: Salmon (Atlantic) Market Forecast: Production Volume (in ‘000 Tons), 2022-2027
Figure 21: Global: Salmon (Pink) Market: Production Volume (in ‘000 Tons), 2016 & 2021
Figure 22: Global: Salmon (Pink) Market Forecast: Production Volume (in ‘000 Tons), 2022-2027
Figure 23: Global: Salmon (Chum/Dog) Market: Production Volume (in ‘000 Tons), 2016 & 2021
Figure 24: Global: Salmon (Chum/Dog) Market Forecast: Production Volume (in ‘000 Tons), 2022-2027
Figure 25: Global: Salmon (Coho) Market: Production Volume (in ‘000 Tons), 2016 & 2021
Figure 26: Global: Salmon (Coho) Market Forecast: Production Volume (in ‘000 Tons), 2022-2027
Figure 27: Global: Salmon (Sockeye) Market: Production Volume (in ‘000 Tons), 2016 & 2021
Figure 28: Global: Salmon (Sockeye) Market Forecast: Production Volume (in ‘000 Tons), 2022-2027
Figure 29: Global: Salmon (Others) Market: Production Volume (in ‘000 Tons), 2016 & 2021
Figure 30: Global: Salmon (Others) Market Forecast: Production Volume (in ‘000 Tons), 2022-2027
Figure 31: Global: Salmon (Frozen) Market: Consumption Volume (in ‘000 Tons), 2016 & 2021
Figure 32: Global: Salmon (Frozen) Market Forecast: Consumption Volume (in ‘000 Tons), 2022-2027
Figure 33: Global: Salmon (Fresh) Market: Consumption Volume (in ‘000 Tons), 2016 & 2021
Figure 34: Global: Salmon (Fresh) Market Forecast: Consumption Volume (in ‘000 Tons), 2022-2027
Figure 35: Global: Salmon (Canned) Market: Consumption Volume (in ‘000 Tons), 2016 & 2021
Figure 36: Global: Salmon (Canned) Market Forecast: Consumption Volume (in ‘000 Tons), 2022-2027
Figure 37: Global: Salmon (Others) Market: Consumption Volume (in ‘000 Tons), 2016 & 2021
Figure 38: Global: Salmon (Others) Market Forecast: Consumption Volume (in ‘000 Tons), 2022-2027
Figure 39: Global: Salmon (Foodservice) Market: Sales Volume (in ‘000 Tons), 2016 & 2021
Figure 40: Global: Salmon (Foodservice) Market Forecast: Sales Volume (in ‘000 Tons), 2022-2027
Figure 41: Global: Salmon (Retail) Market: Sales Volume (in ‘000 Tons), 2016 & 2021
Figure 42: Global: Salmon (Retail) Market Forecast: Sales Volume (in ‘000 Tons), 2022-2027
Figure 43: Norway: Farmed Salmon Market: Production Volume (in ‘000 Tons), 2016 & 2021
Figure 44: Norway: Farmed Salmon Market Forecast: Production Volume (in ‘000 Tons), 2022-2027 
Figure 45: Chile: Farmed Salmon Market: Production Volume (in ‘000 Tons), 2016 & 2021
Figure 46: Chile: Farmed Salmon Market Forecast: Production Volume (in ‘000 Tons), 2022-2027 
Figure 47: Scotland: Farmed Salmon Market: Production Volume (in ‘000 Tons), 2016 & 2021
Figure 48: Scotland: Farmed Salmon Market Forecast: Production Volume (in ‘000 Tons), 2022-2027 
Figure 49: Canada: Farmed Salmon Market: Production Volume (in ‘000 Tons), 2016 & 2021
Figure 50: Canada: Farmed Salmon Market Forecast: Production Volume (in ‘000 Tons), 2022-2027 
Figure 51: Faroe Islands: Farmed Salmon Market: Production Volume (in ‘000 Tons), 2016 & 2021
Figure 52: Faroe Islands: Farmed Salmon Market Forecast: Production Volume (in ‘000 Tons), 2022-2027 
Figure 53: Others: Farmed Salmon Market: Production Volume (in ‘000 Tons), 2016 & 2021
Figure 54: Others: Farmed Salmon Market Forecast: Production Volume (in ‘000 Tons), 2022-2027 
Figure 55: United States: Wild Captured Salmon Market: Production Volume (in ‘000 Tons), 2016 & 2021
Figure 56: United States: Wild Captured Salmon Market Forecast: Production Volume (in ‘000 Tons), 2022-2027 
Figure 57: Russia: Wild Captured Salmon Market: Production Volume (in ‘000 Tons), 2016 & 2021
Figure 58: Russia: Wild Captured Salmon Market Forecast: Production Volume (in ‘000 Tons), 2022-2027 
Figure 59: Japan: Wild Captured Salmon Market: Production Volume (in ‘000 Tons), 2016 & 2021
Figure 60: Japan: Wild Captured Salmon Market Forecast: Production Volume (in ‘000 Tons), 2022-2027 
Figure 61: Canada: Wild Captured Salmon Market: Production Volume (in ‘000 Tons), 2016 & 2021
Figure 62: Canada: Wild Captured Salmon Market Forecast: Production Volume (in ‘000 Tons), 2022-2027 
Figure 63: Others: Wild Captured Salmon Market: Production Volume (in ‘000 Tons), 2016 & 2021
Figure 64: Others: Wild Captured Salmon Market Forecast: Production Volume (in ‘000 Tons), 2022-2027 
Figure 65: European Union: Salmon Market: Consumption Volume (in ‘000 Tons), 2016 & 2021
Figure 66: European Union: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2022-2027
Figure 67: Russia: Salmon Market: Consumption Volume (in ‘000 Tons), 2016 & 2021
Figure 68: Russia: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2022-2027
Figure 69: United States: Salmon Market: Consumption Volume (in ‘000 Tons), 2016 & 2021
Figure 70: United States: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2022-2027
Figure 71: Brazil: Salmon Market: Consumption Volume (in ‘000 Tons), 2016 & 2021
Figure 72: Brazil: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2022-2027
Figure 73: Japan: Salmon Market: Consumption Volume (in ‘000 Tons), 2016 & 2021
Figure 74: Japan: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2022-2027
Figure 75: China: Salmon Market: Consumption Volume (in ‘000 Tons), 2016 & 2021
Figure 76: China: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2022-2027
Figure 77: Others: Salmon Market: Consumption Volume (in ‘000 Tons), 2016 & 2021
Figure 78: Others: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2022-2027
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$/Ton), 2016-2021
Figure 83: Global: Salmon Market Forecast: Average Prices (in US$/Ton), 2022-2027
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, 2021 and 2027
Table 2: Global: Salmon Market Forecast: Breakup by Type (in ‘000 Tons), 2022-2027
Table 3: Global: Salmon Market Forecast: Breakup by Species (in ‘000 Tons), 2022-2027
Table 4: Global: Salmon Market Forecast: Breakup by End Product Type (in ‘000 Tons), 2022-2027
Table 5: Global: Salmon Market Forecast: Breakup by Distribution Channel (in ‘000 Tons), 2022-2027
Table 6: Global: Salmon Market Forecast: Breakup by Producing Regions (in ‘000 Tons), 2022-2027
Table 7: Global: Salmon Market Forecast: Breakup by Consuming Region (in ‘000 Tons), 2022-2027
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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Key Questions Answered in This Report

The global salmon market reached 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, is primarily driving the global salmon market.

The 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 and wild captured, where
farmed salmon currently holds the majority of the total market share.

Based on the species, the global salmon market can be segregated into Atlantic, Pink, Chum/dog,
Coho, Sockeye, and others. Currently, Atlantic species account for the largest market share.

Based on the end product type, the global salmon market has been bifurcated into frozen, fresh,
canned, and others. Among these, 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 sector 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 the United States accounts for the
majority of 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 market share.

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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