Salmon Market: Sustainable Growth and Global Expansion

Insights into Growth Trends, Sustainability, and Market Dynamics Driving the Salmon Industry

WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATES, May 6, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled “Salmon Market by Type, Application, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2028,” the global salmon market size is expected to reach $76,145.3 million by 2028 at a CAGR of 3.7% from 2021 to 2028.

The projected value of $76,145.3 million for the salmon market by 2028 indicates a substantial growth trajectory for the industry. Several factors could contribute to this growth, including:

𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐆𝐫𝐚𝐩𝐡𝐬 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬 @ https://www.alliedmarketresearch.com/request-sample/A12024

𝐂𝐡𝐢𝐥𝐞 𝐞𝐦𝐞𝐫𝐠𝐞𝐬 𝐚𝐬 𝐭𝐡𝐞 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐭 𝐟𝐨𝐫𝐜𝐞 𝐢𝐧 𝐭𝐡𝐞 𝐒𝐚𝐥𝐦𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐰𝐡𝐢𝐥𝐞 𝐍𝐨𝐫𝐰𝐚𝐲 𝐟𝐚𝐜𝐞𝐬 𝐜𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬 𝐰𝐢𝐭𝐡 𝐟𝐢𝐬𝐡 𝐡𝐞𝐚𝐥𝐭𝐡.

Chile has taken the lead in global farmed salmon supply, overcoming obstacles like mass algal bloom mortalities and maintaining profitability. In 2020, Chile harvested over one million metric tons of salmon, marking its highest production value since 2007, according to Salmon Chile, a Chilean trade body. Notably, farmed salmon production utilizes significantly less water and has a much lower carbon footprint compared to livestock.

The industry made strides in sustainability by partnering with the Monterey Bay Aquarium in 2019 to reduce antibiotic usage by 25% by 2050. By 2020, the industry had already lowered its antibiotic use rate to 298 grams per metric ton of biomass harvested, down from 621 grams per metric ton in 2016, representing a 14.6% decrease from 2019.

In contrast, Europe, particularly Scotland, experienced slower production growth during the same period. Norway, facing regulatory constraints and challenges with sea lice, also saw relatively sluggish production growth over the past two years, despite a 3.5% increase in total salmonid harvest quantity in 2020 compared to 2019.

Norway's salmon industry successfully advocated for significant changes in soy supply chains, ensuring a 100% deforestation- and conversion-free soybean value chain by 2020, implemented by all Brazilian soy suppliers to the Norwegian salmon farming industry.

Chile's salmon farming sector has seen promising developments, with reduced production costs and improved biological conditions at farms leading to higher harvests even surpassing those of Norway. This success is driving efforts to explore new farming approaches, particularly those focused on closed containment technologies both on land and at sea. Additionally, new aquaculture operations are emerging in various geographically dispersed countries like Iceland, the Russian Federation, and China, promising further growth in the industry.

𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐢𝐧𝐠 𝐃𝐞𝐦𝐚𝐧𝐝

Salmon is a popular seafood choice globally due to its taste, nutritional value, and versatility in culinary applications. The growing preference for healthy and protein-rich foods could drive increased demand for salmon products.

𝐄𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧 𝐨𝐟 𝐀𝐪𝐮𝐚𝐜𝐮𝐥𝐭𝐮𝐫𝐞

Much of the salmon consumed worldwide is produced through aquaculture. Continued investment and advancements in aquaculture technology may lead to increased salmon production, meeting the rising demand and contributing to market growth.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐃𝐚𝐭𝐚 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 @ https://www.alliedmarketresearch.com/purchase-enquiry/A12024

𝐄𝐱𝐩𝐨𝐫𝐭 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬

Salmon-producing countries such as Norway, Chile, and Canada often export significant portions of their salmon production. Continued demand from both domestic and international markets could drive market expansion.

𝐇𝐞𝐚𝐥𝐭𝐡 𝐏𝐞𝐫𝐜𝐞𝐩𝐭𝐢𝐨𝐧

Salmon is widely recognized as a healthy food choice due to its high omega-3 fatty acid content and other beneficial nutrients. As health-conscious consumers seek out nutritious options, the demand for salmon may increase.

𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧

The salmon industry continues to innovate with new product offerings, such as value-added salmon products, convenient meal solutions, and sustainable packaging. These innovations could attract new consumers and drive market growth.

According to the global salmon market analysis, in 2020, Asia-Pacific dominated the market, garnering around 38.9% of the total salmon market share, followed by Europe. In Asia-Pacific, the salmon market is growing significantly, owing to increasing consumer awareness in the region. Salmon is anticipated to gain maximum demand in the region, owing to the higher demand for seafood containing higher nutritional value.

Consumers have become health conscious and are attracted to fish such as bluefin tuna, Chilean sea bass, tilefish, and imported marlin because some of these fish contain too much mercury.

𝐊𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐨𝐩𝐞𝐫𝐚𝐭𝐢𝐧𝐠 𝐢𝐧 𝐭𝐡𝐞 𝐬𝐚𝐥𝐦𝐨𝐧 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞 :

𝐂𝐫𝐞𝐦𝐚𝐪 𝐆𝐫𝐨𝐮𝐩 𝐀𝐒𝐀
𝐋𝐞𝐫𝐨𝐲 𝐒𝐞𝐚𝐟𝐨𝐨𝐝 𝐆𝐫𝐨𝐮𝐩 𝐀𝐒𝐀
𝐌𝐨𝐰𝐢 𝐀𝐒𝐀
𝐒𝐚𝐥𝐌𝐚𝐫 𝐀𝐒𝐀
𝐁𝐚𝐤𝐤𝐚𝐟𝐫𝐨𝐬𝐭
𝐆𝐫𝐞𝐢𝐠 𝐒𝐞𝐚𝐟𝐨𝐨𝐝
𝐁𝐥𝐮𝐦𝐚𝐫
𝐒𝐚𝐥𝐦𝐨𝐧𝐞𝐬 𝐂𝐚𝐦𝐚𝐧 𝐜𝐡𝐚𝐜𝐚
𝐍𝐨𝐯𝐚 𝐒𝐞𝐚
𝐀𝐥𝐬𝐚𝐤𝐞𝐫𝐅𝐣𝐨𝐫𝐝𝐛𝐫𝐮𝐤
𝐍𝐨𝐫𝐝𝐥𝐚𝐤𝐬.

𝐌𝐚𝐤𝐞 𝐚 𝐃𝐢𝐫𝐞𝐜𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 @ https://www.alliedmarketresearch.com/salmon-market/purchase-options

𝐎𝐭𝐡𝐞𝐫 𝐧𝐨𝐭𝐢𝐜𝐞𝐚𝐛𝐥𝐞 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞𝐬𝐞 𝐦𝐚𝐫𝐤𝐞𝐭𝐬 𝐚𝐫𝐞 :

𝐂𝐨𝐨𝐤𝐞 𝐀𝐪𝐮𝐚𝐜𝐮𝐥𝐭𝐮𝐫𝐞
𝐌𝐮𝐥𝐭𝐢𝐞𝐱𝐩𝐨𝐫𝐭
𝐀𝐮𝐬𝐭𝐫𝐚𝐥𝐢𝐬 𝐒𝐞𝐚𝐟𝐨𝐨𝐝𝐬
𝐀𝐥𝐬𝐚𝐤𝐞𝐫𝐅𝐣𝐨𝐫𝐝𝐛𝐫𝐮𝐤
𝐀𝐪𝐮𝐚𝐂𝐡𝐢𝐥𝐞.

𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲

Market Value: The salmon market was valued at $50,170 million in 2020 and is expected to reach $76,297.8 million by 2028, with a compound annual growth rate (CAGR) of 3.7% during the forecast period.

Fastest Growing Segment: The coho salmon segment is projected to witness the fastest growth, with a CAGR of 5.9% during the forecast period.

End Product Type: In 2020, the fresh salmon segment accounted for 54.6% of the global salmon market share, with a value of $27,439.9 million.

Regional Analysis: In 2020, the U.S. emerged as the most prominent market in North America. It is estimated to reach $2,012.5 million by 2028, growing at a CAGR of 2.8% during the forecast period.

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view of providing business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

We have professional corporate relations with various companies, and this helps us dig out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high-quality data and help clients in every way possible to achieve success. Each and every piece of data presented in the reports published by us is extracted through primary interviews with top officials from leading companies in the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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