According to IMARC Group latest published report, titled “Salmon Market Price: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” that 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.
Salmon Market
Salmon is a silver-colored species of oily, ray-finned fish belonging to the family of Salmonidae. It is a rich source of calcium, iodine, vitamins, zinc, protein, astaxanthin, potassium, omega-3 fatty acids, and other essential nutrients. Its consumption is associated with numerous health benefits, including improving the functions of cells, maintaining blood sugar levels, reducing inflammation, and boosting the immune system. It also reduces the symptoms of rheumatoid arthritis and minimizes the risk of developing heart diseases, cancer, dementia, Alzheimer’s, and other cognitive disorders. As a result, it is widely grilled, broiled, poached, and pickled for being used in the preparation of different cuisines worldwide.
Covid-19 Impact:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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The increasing consumption of seafood around the world on account of the rising awareness among individuals about its health benefits represents one of the key factors positively influencing the demand for salmon. It can also be attributed to the growing number of consumers that are opting for lean meat and protein-rich food like salmon in their daily diets. In addition, the rising number of commercial spaces, such as cafes, restaurants, and luxury hotels, is increasing the use of salmon in pizza, pasta, burger, salad, sushi, and mac and cheese. This, in confluence with the thriving food and beverage (F&B) industry, is contributing to the market growth. Apart from this, a shifting consumer preference for ready-to-eat (RTE) food products like salmon-based chips on account of rapid urbanization, rising working population, hectic schedules, and the expanding purchasing power of consumers are driving the demand for salmon worldwide. It can also be accredited to the growing demand for frozen and canned salmon-based products.
Moreover, the increasing farming of aquatic animals and significant improvement in seafood productivity is creating a positive outlook for the market. Furthermore, there is an increase in the easy availability of salmon through hypermarkets, supermarkets, and convenience stores. Along with this, there is a rise in online shopping channels that are offering convenience, a wide catalog, doorstep delivery, and innumerable payment options. This acts as another major factor increasing the sales of salmon across the globe and offering lucrative growth opportunities to market players operating in the industry. Besides this, leading players operating worldwide are introducing value-added products, such as smoked salmon, salmon jerky, salmon oil, salmon lox, and salmon spreads. Additionally, key players are focusing on introducing innovative packaging like vacuum skin-packed salmon, which keeps the product fresh by removing contact with air and preventing contamination. Such innovations are expected to impel the market growth.
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List of Major Key Players:
The major players in the market are Cermaq Group AS, Lerøy Seafood Group ASA, Mowi ASA, and SalMar ASA.
Key highlights of the report:
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