According to the latest report by IMARC Group titled “United States Salmon Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the United States salmon market size reached US$ 1,375.2 Million in 2022. Salmon refers to several species of fish belonging to the family Salmonidae. These fishes are known for their unique life cycle and distinct characteristics. One of the defining characteristics of salmon is their anadromous lifestyle, which means they hatch in freshwater, migrate to the ocean for a significant part of their life, and return to freshwater to spawn. This remarkable migration is guided by their exceptional sense of smell, which leads them back to their natal river. Salmon exhibit sexual dimorphism, with males often being larger and developing a 'hooked' jaw, or kype, during the spawning season. They are noted for their vibrant coloration, usually silver-blue, which transforms into brilliant shades of red, gold, or green when they return to spawn. Salmon are known for their high nutritional value. They are rich in omega-3 fatty acids, high-quality protein, and essential vitamins and minerals. In addition to their value as a food source, salmon also plays a crucial role in the ecosystem. Their life cycle contributes significantly to the nutrient flow between marine and terrestrial ecosystems, supporting a diverse range of wildlife. Their presence in a water body is often an indicator of a healthy ecosystem.
United States Salmon Market Trends:
The increasing health consciousness and changing dietary habits are catalyzing the demand for high-quality protein sources like salmon. This represents one of the key factors driving the market growth across the United States. Moreover, the increasing demand for omega-3 fatty acids, which are abundant in salmon, is creating a surge in the need for this nutritious fish. In alignment with this, strong socio-economic growth, is propelling the salmon market growth. Alongside, the ongoing digital transformation across sectors is leading to the proliferation of online grocery platforms, which require a diverse range of salmon products for online retail, thereby boosting the market growth. In addition to this, the trend towards sustainable and responsibly-sourced seafood is spurring the need for certified and traceable salmon, thus stimulating the market growth. The rising environmental consciousness is pushing businesses to optimize their supply chains, leading to an increase in locally produced and sustainably caught salmon offerings and market growth. Furthermore, government initiatives to promote healthy eating are significantly contributing to the growth of the salmon market. Besides this, the rising trend toward wellness and self-care is boosting the salmon market growth. Along with this, greater consumer awareness about sourcing and its impact on marine health is facilitating the adoption of responsibly sourced salmon. Also, the diversification in seafood production and distribution is necessitating the use of localized fisheries and aquaculture which is fostering the market growth of salmon. Other factors, such as regulatory policies supporting local industries and the widespread availability of suitable aquaculture conditions, are further driving the salmon market growth across the country. Looking forward, IMARC Group expects the market to reach US$ 1,740.0 Million by 2028, expanding at a growth rate (CAGR) of 3.9% during 2023-2028.
- Based on the type, the market has been bifurcated into farmed and wild captured. Currently, wild holds the largest market share.
- On the basis of the species, the market has been divided into Atlantic, pink, chum/dog, coho, sockeye, and others. At present, pink salmon holds the largest market share across the country.
- Based on the end product type, the market has been segmented into frozen, fresh, canned, and others. Currently, fresh salmon is dominating the market.
- On the basis of the distribution channel, the market has been segregated into foodservice and retail. Presently, retail holds the largest market share across the US.
- Region-wise, the market has been classified into Northeast, Midwest, South, and West. Currently, West US is dominating the market.
- The competitive landscape of the market has also been analyzed, along with detailed profiles of the key players operating in the industry.
|Base Year of the Analysis
||Type, Species, End Product Type, Distribution Channel, Region
||Northeast, Midwest, South, West
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