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Salmon Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

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.

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 2021-2026. Our report has categorized the market based on type, species, end product type and distribution channel.

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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2020
Historical Period 2015-2020
Forecast Period 2021-2026
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)

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    Key Players Market Share
    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), 2015-2020
Figure 3: Global: Salmon Market: Consumption Volume (in Million Tons), 2015-2020
Figure 4: Global: Salmon Market: Consumption Value (in Billion US$), 2015-2020
Figure 5: Global: Salmon Market: Breakup by Type (in %), 2020
Figure 6: Global: Salmon Market: Breakup by Species (in %), 2020
Figure 7: Global: Salmon Market: Breakup by End Product Types (in %), 2020
Figure 8: Global: Salmon Market: Breakup by Distribution Channel (in %), 2020
Figure 9: Global: Salmon Market: Breakup by Farmed Salmon Producing Regions (in %), 2020
Figure 10: Global: Salmon Market: Breakup by Wild Captured Salmon Regions (in %), 2020
Figure 11: Global: Salmon Market: Breakup by Consuming Region (in %), 2020
Figure 12: Global: Salmon Market Forecast: Production Volume (in Million Tons), 2021-2026
Figure 13: Global: Salmon Market Forecast: Consumption Volume (in Million Tons), 2021-2026
Figure 14: Global: Salmon Market Forecast: Consumption Value (in Billion US$), 2021-2026
Figure 15: Global: Salmon (Farmed) Market: Production Volume (in ‘000 Tons), 2015 & 2020
Figure 16: Global: Salmon (Farmed) Market Forecast: Production Volume (in ‘000 Tons), 2021-2026 
Figure 17: Global: Salmon (Wild Captured) Market: Production Volume (in ‘000 Tons), 2015 & 2020
Figure 18: Global: Salmon (Wild Captured) Market Forecast: Production Volume (in ‘000 Tons), 2021-2026 
Figure 19: Global: Salmon (Atlantic) Market: Production Volume (in ‘000 Tons), 2015 & 2020
Figure 20: Global: Salmon (Atlantic) Market Forecast: Production Volume (in ‘000 Tons), 2021-2026
Figure 21: Global: Salmon (Pink) Market: Production Volume (in ‘000 Tons), 2015 & 2020
Figure 22: Global: Salmon (Pink) Market Forecast: Production Volume (in ‘000 Tons), 2021-2026
Figure 23: Global: Salmon (Chum/Dog) Market: Production Volume (in ‘000 Tons), 2015 & 2020
Figure 24: Global: Salmon (Chum/Dog) Market Forecast: Production Volume (in ‘000 Tons), 2021-2026
Figure 25: Global: Salmon (Coho) Market: Production Volume (in ‘000 Tons), 2015 & 2020
Figure 26: Global: Salmon (Coho) Market Forecast: Production Volume (in ‘000 Tons), 2021-2026
Figure 27: Global: Salmon (Sockeye) Market: Production Volume (in ‘000 Tons), 2015 & 2020
Figure 28: Global: Salmon (Sockeye) Market Forecast: Production Volume (in ‘000 Tons), 2021-2026
Figure 29: Global: Salmon (Others) Market: Production Volume (in ‘000 Tons), 2015 & 2020
Figure 30: Global: Salmon (Others) Market Forecast: Production Volume (in ‘000 Tons), 2021-2026
Figure 31: Global: Salmon (Frozen) Market: Consumption Volume (in ‘000 Tons), 2015 & 2020
Figure 32: Global: Salmon (Frozen) Market Forecast: Consumption Volume (in ‘000 Tons), 2021-2026
Figure 33: Global: Salmon (Fresh) Market: Consumption Volume (in ‘000 Tons), 2015 & 2020
Figure 34: Global: Salmon (Fresh) Market Forecast: Consumption Volume (in ‘000 Tons), 2021-2026
Figure 35: Global: Salmon (Canned) Market: Consumption Volume (in ‘000 Tons), 2015 & 2020
Figure 36: Global: Salmon (Canned) Market Forecast: Consumption Volume (in ‘000 Tons), 2021-2026
Figure 37: Global: Salmon (Others) Market: Consumption Volume (in ‘000 Tons), 2015 & 2020
Figure 38: Global: Salmon (Others) Market Forecast: Consumption Volume (in ‘000 Tons), 2021-2026
Figure 39: Global: Salmon (Foodservice) Market: Sales Volume (in ‘000 Tons), 2015 & 2020
Figure 40: Global: Salmon (Foodservice) Market Forecast: Sales Volume (in ‘000 Tons), 2021-2026
Figure 41: Global: Salmon (Retail) Market: Sales Volume (in ‘000 Tons), 2015 & 2020
Figure 42: Global: Salmon (Retail) Market Forecast: Sales Volume (in ‘000 Tons), 2021-2026
Figure 43: Norway: Farmed Salmon Market: Production Volume (in ‘000 Tons), 2015 & 2020
Figure 44: Norway: Farmed Salmon Market Forecast: Production Volume (in ‘000 Tons), 2021-2026 
Figure 45: Chile: Farmed Salmon Market: Production Volume (in ‘000 Tons), 2015 & 2020
Figure 46: Chile: Farmed Salmon Market Forecast: Production Volume (in ‘000 Tons), 2021-2026 
Figure 47: Scotland: Farmed Salmon Market: Production Volume (in ‘000 Tons), 2015 & 2020
Figure 48: Scotland: Farmed Salmon Market Forecast: Production Volume (in ‘000 Tons), 2021-2026 
Figure 49: Canada: Farmed Salmon Market: Production Volume (in ‘000 Tons), 2015 & 2020
Figure 50: Canada: Farmed Salmon Market Forecast: Production Volume (in ‘000 Tons), 2021-2026 
Figure 51: Faroe Islands: Farmed Salmon Market: Production Volume (in ‘000 Tons), 2015 & 2020
Figure 52: Faroe Islands: Farmed Salmon Market Forecast: Production Volume (in ‘000 Tons), 2021-2026 
Figure 53: Others: Farmed Salmon Market: Production Volume (in ‘000 Tons), 2015 & 2020
Figure 54: Others: Farmed Salmon Market Forecast: Production Volume (in ‘000 Tons), 2021-2026 
Figure 55: United States: Wild Captured Salmon Market: Production Volume (in ‘000 Tons), 2015 & 2020
Figure 56: United States: Wild Captured Salmon Market Forecast: Production Volume (in ‘000 Tons), 2021-2026 
Figure 57: Russia: Wild Captured Salmon Market: Production Volume (in ‘000 Tons), 2015 & 2020
Figure 58: Russia: Wild Captured Salmon Market Forecast: Production Volume (in ‘000 Tons), 2021-2026 
Figure 59: Japan: Wild Captured Salmon Market: Production Volume (in ‘000 Tons), 2015 & 2020
Figure 60: Japan: Wild Captured Salmon Market Forecast: Production Volume (in ‘000 Tons), 2021-2026 
Figure 61: Canada: Wild Captured Salmon Market: Production Volume (in ‘000 Tons), 2015 & 2020
Figure 62: Canada: Wild Captured Salmon Market Forecast: Production Volume (in ‘000 Tons), 2021-2026 
Figure 63: Others: Wild Captured Salmon Market: Production Volume (in ‘000 Tons), 2015 & 2020
Figure 64: Others: Wild Captured Salmon Market Forecast: Production Volume (in ‘000 Tons), 2021-2026 
Figure 65: European Union: Salmon Market: Consumption Volume (in ‘000 Tons), 2015 & 2020
Figure 66: European Union: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2021-2026
Figure 67: Russia: Salmon Market: Consumption Volume (in ‘000 Tons), 2015 & 2020
Figure 68: Russia: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2021-2026
Figure 69: United States: Salmon Market: Consumption Volume (in ‘000 Tons), 2015 & 2020
Figure 70: United States: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2021-2026
Figure 71: Brazil: Salmon Market: Consumption Volume (in ‘000 Tons), 2015 & 2020
Figure 72: Brazil: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2021-2026
Figure 73: Japan: Salmon Market: Consumption Volume (in ‘000 Tons), 2015 & 2020
Figure 74: Japan: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2021-2026
Figure 75: China: Salmon Market: Consumption Volume (in ‘000 Tons), 2015 & 2020
Figure 76: China: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2021-2026
Figure 77: Others: Salmon Market: Consumption Volume (in ‘000 Tons), 2015 & 2020
Figure 78: Others: Salmon Market Forecast: Consumption Volume (in ‘000 Tons), 2021-2026
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$/Ton), 2015-2020
Figure 83: Global: Salmon Market Forecast: Average Price (in US$/Ton), 2021-2026
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, 2020 and 2026
Table 2: Global: Salmon Market Forecast: Breakup by Type (in ‘000 Tons), 2021-2026
Table 3: Global: Salmon Market Forecast: Breakup by Species (in ‘000 Tons), 2021-2026
Table 4: Global: Salmon Market Forecast: Breakup by End Product Types (in ‘000 Tons), 2021-2026
Table 5: Global: Salmon Market Forecast: Breakup by Distribution Channels (in ‘000 Tons), 2021-2026
Table 6: Global: Salmon Market Forecast: Breakup by Producing Regions (in ‘000 Tons), 2021-2026
Table 7: Global: Salmon Market Forecast: Breakup by Consuming Region (in ‘000 Tons), 2021-2026
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 Question Answered in this Report

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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