Salmon Fish Market to Grow with a CAGR of 7.8% through 2029

The salmon fish market is growing due to increasing consumer demand for healthy, protein-rich foods, advancements in sustainable aquaculture, rising global demand for premium seafood, and technological innovations improving production efficiency and fish health management.

According to TechSci Research report, “Salmon Fish Market - Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029F”, the global salmon fish market was valued at USD 18.46 Billion in 2023 and is expected to reach USD 28.97 Billion by 2029 with a CAGR of 7.8% during the forecast period. The salmon fish market is experiencing notable growth driven by several key factors. Increasing consumer demand for healthy, protein-rich foods is a primary driver, as salmon is prized for its high content of omega-3 fatty acids and essential nutrients, supporting cardiovascular health and overall well-being. As consumers become more health-conscious, the appeal of salmon continues to rise, particularly in developed and emerging markets. Additionally, the growing focus on sustainability in the food industry is positively impacting the market. Advances in sustainable aquaculture practices, including closed-containment systems and alternative feed sources, have reduced environmental impact and made salmon farming more responsible. Furthermore, continuous technological advancements in aquaculture, such as automation, artificial intelligence, and sensor technologies, are enhancing production efficiency and ensuring high-quality salmon, thus contributing to market growth.

The demand for premium seafood is also increasing, particularly in regions with rising middle-class populations, such as Asia-Pacific, where salmon is becoming a popular choice. The growing interest in value-added products like smoked and ready-to-eat salmon is also boosting market growth, catering to the convenience-oriented consumer. However, the market faces several challenges. Environmental concerns remain significant, particularly related to sea lice infestations and the impact of farming practices on ecosystems. Stricter regulations are being imposed, driving up operational costs for producers. Additionally, supply chain disruptions, including issues with cold chain logistics and rising fuel prices, continue to affect the timely delivery of fresh and frozen salmon. Disease outbreaks, such as sea lice and infectious salmon anemia, are also a persistent threat, requiring constant innovation in fish health management to maintain production levels. These challenges must be addressed to ensure the long-term success and growth of the salmon fish market.

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Global Salmon Fish Market is segmented into species, form and region.

Based on form the market is segmented into fresh, frozen and others. The frozen salmon segment is emerging as the fastest-growing segment within the salmon fish market, driven by several key factors. Frozen salmon offers a longer shelf life compared to fresh salmon, making it an ideal option for both consumers and retailers. This ensures reduced food waste and greater flexibility in storage and consumption.Consumers are increasingly seeking convenient and time-saving food options, and frozen salmon meets this demand without compromising nutritional value or taste, thanks to advancements in freezing technology. Frozen salmon supports global distribution by overcoming logistical challenges associated with fresh fish. Producers can export frozen salmon to distant markets, including regions with limited access to fresh seafood like parts of Asia, the Middle East, and Africa.

The growing demand for high-protein, nutritious seafood in emerging economies has further accelerated the market for frozen salmon. Frozen salmon is often more affordable than fresh salmon, making it accessible to a broader segment of consumers. Price-sensitive markets, including parts of Asia-Pacific and Latin America, prefer frozen salmon as a cost-effective protein source. The availability of frozen salmon in various cuts, portions, and pre-seasoned options appeals to busy consumers and enhances its convenience. Frozen salmon forms the foundation for many value-added products, such as salmon fillets, burgers, and marinated portions, which are witnessing strong demand. These products cater to evolving consumer preferences for quick, healthy meal solutions. With improving cold chain infrastructure and innovations in freezing techniques like flash-freezing, frozen salmon retains its quality, taste, and nutrients, allowing it to compete effectively with fresh salmon.

Based on region, Asia-Pacific is the fastest-growing region in the global salmon fish market, fueled by rising incomes, increasing health awareness, and evolving dietary preferences. Countries like China, Japan, South Korea, and India are driving this rapid growth, with significant opportunities for expansion in both production and consumption. The expanding middle-class population in countries such as China and India has led to greater purchasing power and a shift towards high-protein, nutritious foods like salmon. Salmon is gaining popularity as a premium seafood option, particularly among urban populations seeking healthier diets and international cuisines. The rising influence of global cuisines, especially Japanese dishes such as sushi and sashimi, has driven demand for fresh and frozen salmon in Asia-Pacific. Consumers in countries like Japan and South Korea already have a strong preference for seafood, and salmon is a key ingredient in their traditional and modern diets.

Major companies operating in the global Salmon Fish market are:

• Lerøy Seafood Group ASA
• SalMar ASA
• Cermaq Group AS
• Mowi ASA
• P/F Bakkafrost Holding
• SEA DELIGHT LLC
• Nordlaks AS
• Atlantic Sapphire ASA
• Ideal Foods Ltd
• BluGlacier, LLC

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“A key trend in the salmon fish market is the growing influence of digitalization and e-commerce. The digital revolution is reshaping the salmon fish market, with e-commerce and digital platforms becoming increasingly influential in how salmon is marketed and sold. The COVID-19 pandemic accelerated the shift toward online grocery shopping, and this trend has continued post-pandemic, particularly in developed markets such as North America, Europe, and Asia-Pacific. E-commerce platforms allow consumers to access high-quality, fresh, and frozen salmon with the convenience of home delivery. Major online grocery retailers and specialized seafood platforms now offer a variety of salmon products, including fresh fillets, frozen portions, and value-added items. Subscription-based seafood delivery services are also gaining popularity, especially among health-conscious urban consumers seeking premium and sustainably sourced fish. “Said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

"Salmon Fish Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Species (Atlantic/ Aquaculture, Pacific), By Form (Fresh, Frozen, Others), By Region, & Competition, 2019-2029F”, has evaluated the future growth potential of global salmon fish market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global salmon fish market.

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