Salmon Market Size

The global salmon market has witnessed steady expansion, driven by increasing demand for high-protein, nutrient-rich seafood. In 2024, the market size reached approximately 4.50 million tons, highlighting the growing preference for salmon as a dietary staple across multiple regions.

Over the forecast period 2025-2034, the global salmon market size is projected to grow at a CAGR of 3.80%, reaching an estimated volume of 6.53 million tons by 2034. The consistent growth can be attributed to rising consumer awareness regarding the health benefits of salmon, advancements in aquaculture techniques, and increasing investments in sustainable seafood production.

The demand for salmon remains high in both developed and emerging markets, with a significant push from the European Union, United States, China, and Japan. The expansion of farmed salmon production, particularly in Norway, Chile, and Scotland, has played a crucial role in meeting the increasing global demand.

Additionally, growing health-conscious consumer trends and the rising popularity of protein-rich diets are boosting salmon consumption in both retail and foodservice sectors. The development of value-added salmon products, including smoked, marinated, and ready-to-eat options, is further driving market expansion. Technological innovations in fish farming, such as closed containment systems and AI-powered monitoring, are enhancing efficiency and sustainability in salmon production.

Salmon Market Trends

• Rising Popularity of Farmed Salmon: Due to increasing restrictions on wild fishing and sustainability concerns, farmed salmon now dominates the global market, with Norway and Chile leading production.
• Growing Demand for Sustainable and Certified Salmon: Consumers are prioritizing sustainability certifications such as ASC (Aquaculture Stewardship Council) and MSC (Marine Stewardship Council), driving responsible sourcing and eco-friendly practices.
• Expanding Consumption of Smoked and Processed Salmon: Ready-to-eat and processed salmon products, including smoked, marinated, and sushi-grade salmon, are witnessing increased demand, especially in urban areas.
• Advancements in Aquaculture Technology: Innovations such as recirculating aquaculture systems (RAS) and AI-driven fish health monitoring are improving efficiency and reducing environmental impact.
• Increasing Adoption of Salmon in Functional Diets: The Omega-3-rich composition of salmon is driving demand among consumers seeking heart-healthy, high-protein, and low-fat dietary options.
• Surge in Demand for Fresh and Frozen Salmon: The preference for fresh and frozen salmon over canned varieties is rising due to improved cold chain logistics and e-commerce expansion.
• Asia-Pacific Emerging as a Key Growth Region: Countries like China, Japan, and Brazil are experiencing rising salmon consumption, driven by increasing disposable incomes and Western dietary influences.
• Regulatory Support for Sustainable Fishing Practices: Governments and industry bodies are enforcing stringent aquaculture guidelines to ensure ethical and sustainable salmon farming, reducing overfishing risks.

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Salmon Market Growth

The salmon market is expected to expand steadily due to various growth drivers:

• Increasing Consumer Awareness of Health Benefits: The rising preference for high-protein, Omega-3-rich, and low-fat seafood options is fueling salmon consumption globally.
• Rising Demand for Premium Seafood: Consumers are increasingly willing to pay premium prices for high-quality, organic, and antibiotic-free salmon, boosting the sales of specialty seafood products.
• Expansion of the Foodservice Industry: The growing number of sushi restaurants, seafood chains, and fine dining establishments is increasing demand for fresh and frozen salmon.
• Advancements in Cold Storage and Logistics: Improved supply chain management, transportation, and freezing technology are ensuring longer shelf life and expanding market reach.
• E-commerce and Direct-to-Consumer Sales Growth: The rise of online seafood marketplaces and direct-to-consumer models is making fresh and frozen salmon more accessible to global consumers.
• Government Initiatives for Sustainable Aquaculture: Policies promoting responsible fish farming and sustainable seafood consumption are positively influencing the salmon industry.
• Shift Toward Alternative Protein Sources: The rising trend of flexitarian and pescatarian diets is increasing salmon’s appeal as a preferred protein alternative.
• Increasing Investments in Land-Based Aquaculture: Emerging land-based salmon farms are reducing environmental risks associated with traditional open-water farming while increasing sustainable production capacity.

Salmon Industry Segmentation

Breakup by Type

• Farmed: Farmed salmon accounts for the largest share of the global market, meeting the increasing demand for sustainable and affordable seafood. Norway, Chile, and Scotland dominate farmed salmon production, leveraging advanced aquaculture technologies.
• Wild Captured: Wild-caught salmon, sourced primarily from Alaska (United States), Russia, and Canada, is considered premium due to its natural diet and unique flavor profile. However, concerns over overfishing and environmental impact are limiting supply growth.

Breakup by Species

• Atlantic : The most commonly farmed salmon species, widely available and preferred for its mild flavor and high Omega-3 content.
• Pink : Known for its light texture and affordability, pink salmon is frequently used in canned and frozen seafood products.
• Chum/Dog : Typically used in canned products and processed salmon, it is favored for its firm texture and mild flavor.
• Coho : Popular in both wild-caught and farmed forms, Coho salmon is recognized for its deep color and slightly stronger taste.
• Sockeye : Highly prized for its rich flavor and vibrant red color, sockeye salmon is often consumed as smoked or fresh fillets.
• Others: Includes lesser-known salmon species that are primarily consumed in local and niche markets.

Breakup by End Product

• Frozen: The largest segment, driven by increasing preference for longer shelf-life and convenience. Frozen salmon is widely exported and used in foodservice and retail markets.
• Fresh: Fresh salmon enjoys strong demand in the sushi, fine dining, and home cooking segments, with retailers emphasizing quality and sourcing transparency.
• Canned: Although demand for canned salmon is declining, it remains popular due to its affordability, ease of storage, and long shelf life.
• Others: Includes value-added products such as marinated, smoked, and ready-to-eat salmon, catering to evolving consumer preferences.

Breakup by Distribution Channel

• Foodservice: The largest distribution channel, with salmon widely used in restaurants, hotels, and catering services, particularly in sushi, fine dining, and casual dining establishments.
• Retail: Supermarkets, hypermarkets, and specialty seafood stores dominate retail salmon sales, offering fresh, frozen, and packaged varieties.
• Others: Includes direct-to-consumer seafood subscriptions, wholesale markets, and fishmongers catering to niche buyers.

Breakup by Region

Producing Countries

• Farmed:
  • Norway
  • Chile
  • Scotland
  • Canada
  • Faroe Islands
  • Others
• Wild Captured:
  • United States
  • Russia
  • Japan
  • Canada
  • Others

Consuming Countries

• European Union: The largest salmon-consuming region, driven by strong demand in France, Germany, Spain, and the United Kingdom.
• Russia: A significant market for imported salmon, with growing demand for frozen and processed salmon products.
• United States: High per capita consumption, with strong demand for fresh and smoked salmon in both foodservice and retail segments.
• Brazil: Increasing seafood consumption, fueled by the growing popularity of sushi and Western dietary influences.
• Japan: A major consumer of high-quality salmon fillets, sushi-grade salmon, and smoked salmon.
• China: Rapid urbanization and increasing preference for healthy protein sources are driving salmon demand.
• Others: Includes emerging markets with growing interest in salmon consumption due to health benefits and dietary diversification.

Salmon Key Market Players

Cermaq Group AS: A leading global salmon farming company, focusing on sustainable aquaculture practices and high-quality salmon production.

Lerøy Seafood Group: One of the largest seafood companies in Europe, specializing in farmed salmon, trout, and value-added seafood products.

Mowi ASA: A global seafood leader, known for its vertically integrated salmon farming, processing, and distribution operations.

SalMar ASA: A significant player in the Norwegian salmon farming industry, emphasizing innovation and efficiency in aquaculture.

Others: Includes various regional and international salmon producers focusing on sustainable seafood production, innovative packaging, and expanding market reach.