Salmon Market to Hit $76.1 Billion by 2028, Growing at 3.7% CAGR

Allied Market Research Predicts Significant Growth Driven by Increasing Demand and Aquaculture Expansion

WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATES, June 26, 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:

📍𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 (𝟐𝟐𝟗 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬): https://www.alliedmarketresearch.com/request-sample/A12024

𝐄𝐱𝐜𝐢𝐭𝐢𝐧𝐠 𝐎𝐟𝐟𝐞𝐫 𝐀𝐥𝐞𝐫𝐭! 🚀 𝐆𝐞𝐭 𝐚 𝐌𝐚𝐬𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐘𝐨𝐮𝐫 𝐍𝐞𝐱𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞! 𝐁𝐮𝐲 𝐧𝐨𝐰 𝐚𝐧𝐝 𝐭𝐚𝐤𝐞 𝐚𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐥𝐢𝐦𝐢𝐭𝐞𝐝-𝐭𝐢𝐦𝐞 𝐨𝐟𝐟𝐞𝐫. 🛍️

💡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 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, 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 higher demand of seafood containing higher nutrition value.

Consumers have become health conscious and are attracted toward fishes such as bluefin tuna, Chilean sea bass, tilefish, imported marlin, because some of this fish contains 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 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭𝐬! 𝐋𝐢𝐦𝐢𝐭𝐞𝐝 𝐓𝐢𝐦𝐞 𝐎𝐟𝐟𝐞𝐫: 𝐌𝐚𝐲 𝟐𝟎𝟐𝟒 - 𝐉𝐮𝐥𝐲 𝟐𝟎𝟐𝟒 : @ https://www.alliedmarketresearch.com/salmon-market/purchase-options

📍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 of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of 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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