Global Salmon Fish Market Size By Product Type, By Application, By Distribution Channel, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Salmon Fish Market size was valued at USD 16.34 Billion in 2023 and is projected to reach USD 24.21Billionby 2030, growing at a CAGR of 8.4% during the forecast period 2024-2030.
Global Salmon Fish Market Drivers
Numerous factors impact the salmon seafood market, driving its dynamics. Among the principal market forces are
Growing Consumer AwarenessAs people become more aware of the health advantages of eating salmon, such as the omega-3 fatty acids it contains, the demand for salmon in all its forms has increased.
Growing Health Consciousness People are choosing healthier foods more and more as they become more aware of their health, and salmon is frequently regarded as a high-protein, healthful alternative.
Global Culinary Trends The market growth of salmon is attributed to its appeal in many global cuisines and its adaptability in different dishes. Customers are discovering and enjoying new ways to include salmon in their diets.
Farming Practices Increased production as a result of improved salmon farming techniques has made salmon more accessible on the market and may help to stabilize prices.
Economic Growth Spending on upscale foods, such as salmon of the highest caliber, may rise in some areas due to economic development and rising disposable incomes.
Sustainable Fishing Methods Environmentally friendly and sustainable fishing methods are becoming more and more important to consumers. Businesses may obtain a competitive advantage by using ethical and sustainable sourcing practices.
Trade and Globalization The salmon market is influenced by both international trade and globalization. Variations in trade agreements, tariffs, and shipping expenses may affect salmon’s availability and cost in various areas.
Innovation in Processing and Packaging New developments in processing and packaging technologies help to prolong the shelf life of salmon, guaranteeing its accessibility in a variety of formats and settings.
Global Salmon Fish Market Restraints
Although there are a number of favorable factors supporting the salmon fish Market, there are obstacles and limitations that may limit its expansion and long-term viability. Among the significant market limitations are
Environmental ConcernsProblems with the environment, like overfishing, habitat damage, and farmed salmon escaping into the wild, can raise questions about sustainability and harm consumers’ impressions.
Regulatory ObstaclesThe salmon seafood market may face difficulties due to strict laws and policies governing fishing methods, aquaculture operations, and environmental preservation. Producers’ operating expenses could go up if these regulations are followed.
Disease OutbreaksDisease outbreaks have the potential to affect salmon farms, resulting in production losses and affecting the market’s total supply of salmon. The sector faces significant hurdles in the areas of disease management and prevention.
Variable Costs of Fish FeedA vital element in salmon aquaculture, fish feed can vary greatly in price and availability. Variations in feed costs can have an impact on salmon’s total cost of production and, in turn, market prices.
Competitive AlternativesOther fish species and sources of protein compete with the salmon Market. Price, flavor, and perceived health benefits are a few examples of the variables that can influence consumer preferences.
Climate ChangeSalmon migration patterns can be impacted by climate-related changes, such as increased water temperatures and changes in ocean currents, which can have an impact on wild salmon stocks. Thus, the supply of salmon that is taken in the wild may be affected.
Price VolatilityA number of factors, such as changes in the dynamics of supply and demand, geopolitical events, and fluctuations in currency exchange rates, can affect salmon prices. In a market, price instability can have an impact on both producers and consumers.
Customer PerceptionUnfavorable opinions about topics such as contamination, sustainability, or unethical farming methods can sway consumer decisions and affect the demand for salmon as a whole.
Global Economic FactorsConsumer spending on high-end seafood items, such as salmon, may decline as a result of recessions, downturns, or financial instability in important markets.
Global Salmon Fish Market, Segmentation Analysis
The Global Salmon Fish Market is segmented based on Product Type, Application, Distribution Channel, and Geography.
Salmon fish Market, By Product Type
Fresh Salmon chilled or unfrozen salmon.
Frozen Salmon Salmon that has been frozen for preservation.
Canned Salmon Processed and canned salmon products.
Smoked Salmon Salmon that has undergone smoking for flavor and preservation.
Other Processed Salmon Products Includes products like salmon fillets, steaks, and burgers.
Salmon fish Market, By Application
Food and BeveragesDirect consumption as a seafood product.
Pharmaceuticals and NutraceuticalsExtracts from salmon used in health supplements.
Salmon fish Market, By Distribution Channel
Online Retail Salmon sold through e-commerce platforms.
Offline Retail Traditional brick-and-mortar stores.
Foodservice Distributors Distributors supplying salmon to restaurants and foodservice establishments.
Salmon fish Market, By Geography
North AmericaMarket conditions and demand in the United States, Canada, and Mexico.
EuropeAnalysis of the Salmon Fish Market in European countries.
Asia-PacificFocusing on countries like China, India, Japan, South Korea, and others.
Middle East and AfricaExamining market dynamics in the Middle East and African regions.
Latin AmericaCovering market trends and developments in countries across Latin America.
Key Players
The major players in the Salmon Fish Market are
Mowi ASA (Norway)
Leroy Seafood Group ASA (Norway)
SalMar ASA (Norway)
Cermaq Group ASA (Norway)
Grieg Seafood ASA (Norway)
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2020-2030
BASE YEAR
2023
FORECAST PERIOD
2024-2030
HISTORICAL PERIOD
2020-2022
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Mowi ASA (Norway), Leroy Seafood Group ASA (Norway), SalMar ASA (Norway), Cermaq Group ASA (Norway), Grieg Seafood ASA (Norway)
SEGMENTS COVERED
By Product Type, By Application, By Distribution Channel, and Geography.
CUSTOMIZATION SCOPE
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