2025-2034 Salmon Market Outlook: Key Drivers, Emerging Challenges, and Strategic Insights

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What Will the Salmon Industry Market Size Be by 2025?
The size of the salmon market has seen a substantial rise in recent years. It is set to increase from its current worth of $28.6 billion in 2024 to $30.59 billion in 2025, fueled by a compound annual growth rate (CAGR) of 7.0%. This growth during the historic period has been due to a variety of factors such as a growing demand for protein-rich food, advancements in aquaculture technology, the burgeoning popularity of sushi, a rise in worldwide seafood consumption, the expansion of e-commerce platforms specializing in seafood, and an uptick in popularity of the ket*o and paleo diets.

What's the Long-Term Growth Forecast for the Salmon Market Size Through 2029?
The salmon industry is anticipated to experience substantial growth in the upcoming years, expanding to a worth of $39.61 billion by 2029 at a compound annual growth rate (CAGR) of 6.7%. This projected growth over the forecast period can be credited to an increased consumer appetite for healthy foods, heightened understanding of the advantages of omega-3, development in aquaculture, growing interest in sustainable seafood, and the rise in cold chain infrastructure. Notable trends during the forecast period comprise the embrace of sustainable aquaculture techniques, the use of recirculating aquaculture systems (RAS), the application of alternative feed sources, the execution of advanced genetic breeding courses, and the introduction of precision aquaculture technologies.

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What Are the Key Growth Drivers Fueling the Salmon Market Expansion?
The development of the salmon market is likely to be spurred by the escalating aquaculture industry. This sector refers to the creation of both marine and freshwater species like fish and plants in controlled environments. The growth of this industry can be ascribed to increasing consumer demand for seafood, emphasis on sustainable practices, and advancements in aquaculture technology. The role of salmon production in aquaculture is consequential due to its economic value, support toward sustainability, nutritional benefits, and its ability to adapt to innovative farming technologies. This aligns with the worldwide drive towards sustainable food systems and healthier food choices. For example, in March 2024, the Australian Bureau of Agricultural and Resource Economics, a governmental agency in Australia, estimated that the contribution of aquaculture to seafood production value is anticipated to rise from 60% in 2023-24 to 64% by 2028-29, achieving a real value of $2.21 billion. Hence, the thriving aquaculture industry is a significant driver for the salmon market's expansion.

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What Are the Key Trends Driving Salmon Market Growth?
Leading businesses in the salmon market are introducing smoked salmon spreads as a way to expand their product range and satisfy the growing consumer cravings for ready-made and gourmet snack choices. Such spreads add value to the salmon market by providing customers with a simple, tasty, and nutritious alternative, fostering a healthier lifestyle, and boosting demand for salmon products. For example, in March 2024, Foppen Seafood, a company based in the Netherlands that processes seafood products, launched an innovative hot-smoked salmon spread. The product, meant for both lunch and snacking purposes, enhances its portfolio. The unique spread, comprising 50% smoked salmon and mayo, strengthens the company's commitment to reducing waste and incorporating exotic flavors like jalapeno and seaweed. These kinds of innovations hold considerable value for the salmon market, meeting consumer expectations for convenience and variety, in light of growing competition and rising costs.

How Is the Salmon Market Segmented?
The salmonmarket covered in this report is segmented -

1) By Type: Chinook Salmon, Coho Salmon, Pink Salmon, Red Salmon, Salmo Salar, Silverbrite Salmon
2) By End Product Type: Fresh, Frozen, Canned , Other End Products
3) By Distribution Channel: Retail, E-commerce, Brick And Mortar Stores, HoReCa And Wholesale Processed Food Industry, Other Institutional Customers

Subsegments:
1) By Chinook Salmon: Fresh Chinook Salmon, Frozen Chinook Salmon, Canned Chinook Salmon, Smoked Chinook Salmon
2) By Coho Salmon: Fresh Coho Salmon, Frozen Coho Salmon, Canned Coho Salmon, Smoked Coho Salmon
3) By Pink Salmon: Fresh Pink Salmon, Frozen Pink Salmon, Canned Pink Salmon, Smoked Pink Salmon
4) By Red Salmon: Fresh Red Salmon, Frozen Red Salmon, Canned Red Salmon, Smoked Red Salmon
5) By Salmo Salar: Fresh Atlantic Salmon, Frozen Atlantic Salmon, Canned Atlantic Salmon, Smoked Atlantic Salmon
6) By Silverbrite Salmon: Fresh Silverbrite Salmon, Frozen Silverbrite Salmon, Canned Silverbrite Salmon

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Which Companies Are Leading the Charge in Salmon Market Innovation?
Major companies operating in the salmon market are Agrosuper S.A., Mowi ASA, Australis Seafoods S.A., Lerøy Seafood Group ASA, Cermaq Group AS, SalMar ASA, Cooke Aquaculture Inc., Skretting AS, P/F Bakkafrost, Salmones Camanchaca S.A., Grieg Seafood ASA, Multiexport Foods S.A., Blumar S.A., Tassal Operations Pty Ltd., AKVA Group ASA, Huon Aquaculture Group Pty Ltd., Benchmark Holdings plc, Invertec Pesquera Mar de Chiloé S.A., Bremnes Seashore AS, Sinkaberg-Hansen AS, BioMar Group A/S, AquaGen AS, Nordlaks Produkter AS, Nova Sea AS, AquaChile S.A

Which Regions Are Leading the Global Salmon Market in Revenue?
Europe was the largest region in the salmon market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the salmon market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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