Global Salmon Market Size, Share, Growth Analysis, By Type(Fresh Salmon, Frozen Salmon), By Form(Whole Salmon, Fillets), By Distribution channel(Hypermarkets/Supermarkets, Specialty Stores) - Industry Forecast 2024-2031

Global Salmon Market size was valued at USD 53.77 billion in 2022 and is poised to grow from USD 55.76 billion in 2023 to USD 74.77 billion by 2031, growing at a CAGR of 3.7% in the forecast period (2024-2031).

In recent years, the global salmon market has seen shifts in consumer preferences and demands due to its reputation as a nutritious and versatile protein source. Salmon's high content of omega-3 fatty acids has contributed to its rising popularity among health-conscious diets. Certifications like the Aquaculture Stewardship Council (ASC) that highlight environmentally friendly production methods are gaining prominence, leading to sustainable and responsible aquaculture practices. Norway, Chile, and Scotland are major contributors to the global supply of salmon and are significant salmon-producing regions geographically. Continuous innovation in product forms, including smoked salmon, fillets, and value-added preparations, caters to diverse consumer preferences. However, environmental concerns related to fish farming, disease management, and market volatility influenced by factors like geopolitical events and trade regulations pose major challenges to the industry.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Salmon Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Salmon Market Segmental Analysis

The global salmon market is segmented on the basis of product type, by form, distribution channel, and region. By type, the market is segmented into fresh salmon, frozen salmon, canned salmon, smoked salmon, and others. By form, the market is segmented into whole salmon, fillets, steaks, and others. By distribution channels, the market is segmented into supermarkets, convenience stores, e-commerce platforms, specialty stores, health food outlets, vending machines, and others. By region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.

Drivers of the Global Salmon Market

The growing awareness of the health benefits linked to consuming salmon, notably its high omega-3 fatty acid content, has led to increased demand among health-conscious consumers. Salmon's versatility in various culinary applications also contributes to its popularity, appealing to diverse tastes and preferences worldwide. Moreover, the adoption of sustainable and responsible aquaculture practices, supported by certifications like the Aquaculture Stewardship Council (ASC), has strengthened consumer confidence in the ethical sourcing of salmon products.

Restraints in the Global Salmon Market

One of the primary restraints in the salmon market is the environmental impact linked to salmon farming, including issues like habitat degradation and water pollution. Disease outbreaks, especially in densely populated aquaculture settings, threaten production levels and can result in higher operational costs for disease management. Market volatility, influenced by factors such as geopolitical events and trade regulations, also poses challenges for the industry. Additionally, while certification schemes like the Aquaculture Stewardship Council (ASC) promote sustainable practices, achieving widespread compliance across the industry remains a challenge.

Market Trends of the Global Salmon Market

The growing utilization of clean label products, characterized by natural and minimally processed ingredients, represents a significant market development that will affect businesses in North America.