Salmon Fish Market Worth $30.97 Billion By 2030 | CAGR: 8.5%

Salmon Fish Market Growth & Trends

The global salmon fish market size is expected to reach USD 30.97 billion by 2030, and to expand at a CAGR of 8.5% from 2022 to 2030, according to a new report by Grand View Research, Inc. Increasing demand for farmed Atlantic salmon owing to its high nutritional properties is anticipated to drive the market growth during the forecast period. Furthermore, a transition toward a nutritional diet is occurring in countries such as the U.S., the U.K., China, France, Germany, and India, which is expected to drive the market for aquaculture salmon fish among consumers of different age groups.

Sustainability is also a crucial factor influencing the purchasing decisions of consumers. With the increased availability of sustainably caught salmon, businesses in Europe and North America continue to offer new MSC salmon products. Furthermore, these businesses also recognize and reward certified salmon fisheries. Sales of certified sustainable salmon in Germany, the U.S., France, Chile, Netherlands, and Norway continue to grow.

Manufacturers remain focused on the sustainability and innovation of salmon fish products to cater to consumers’ evolving tastes. Companies aim to attract new consumers by introducing new flavors. Salmon companies often emphasize sustainable fishing practices due to increased concerns among regulators, consumers, and investors. In addition, innovative and aesthetic packaging is expected to boost the demand for salmon-based foods and expand the consumer base.

The Atlantic/ aquaculture salmon is anticipated to register the fastest growth during the forecast period. New product launches in this segment are likely to be another key driver supporting the overall market growth. For instance, in September 2021, Fishwife Tinned Seafood Co., a U.S.-based company launched smoked salmon sourced from third-generation Atlantic salmon farmers, in partnership with KVARØY ARCTIC, to offer ethically sourced, premium, and tinned seafood.

The fresh salmon fish segment dominated the market share in 2021. Fresh salmon has a high nutritional content than frozen salmon as they do not contain any preservatives. They are rich in protein, fat, and minerals such as iron, calcium, and potassium. Thus, the increased consumption of raw salmon owing to their high nutritional value is expected to drive the growth of the fresh salmon fish industry. The growing and high demand for affordable and sustainable, salmon and the rapid growth in its consumption are further expected to boost the market growth in the coming years.

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Salmon Fish Market Report Highlights

• Europe held the largest revenue share in 2021, owing to the increased demand for fresh and frozen Atlantic/aquaculture salmon coupled with a wide range of availability by various brands

• The Atlantic/aquaculture salmon is anticipated to register a faster CAGR in the salmon fish industry. New product launches in this segment by various brands remain the key factor propelling the segment’s growth

• The frozen salmon segment is anticipated to register a faster CAGR during the forecast period. Key players in the market continue to invest in new and innovative technology to increase their production to meet the growing demand for frozen salmon consumption across the globe

Salmon Fish Market Segmentation

Grand View Research has segmented the global salmon fish market based on species, form, and region:

Salmon Fish Species Outlook (Revenue, USD Million, 2017 - 2030)

• Atlantic/Aquaculture Salmon

• Pacific Salmon

  • Coho

  • Chinook/King

  • Pink

  • Red

  • Chum

Salmon Fish Form Outlook (Revenue, USD Million, 2017 - 2030)

• Fresh

• Frozen

• Others

Salmon Fish Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • Germany

  • U.K.

  • France

  • Russia

  • Italy

• Asia Pacific

  • China

  • Japan

  • India

  • Thailand

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

List of Key Players in the Salmon Fish Market

• Lerøy

• SalMar ASA

• Cermaq

• Mowi

• Bakkafrost

• SEA DELIGHT GROUP

• Nordlaks Produkter AS

• Atlantic Sapphire

• Ideal Foods Ltd

• BluGlacier