Salmon Market Growth Insights: Share & Forecast 2025-2033

The global Salmon Market is experiencing robust growth, driven by increasing health consciousness, rising disposable incomes, and a growing preference for nutritious seafood options. In 2024, the market reached a volume of 3.7 million tons, and it is projected to attain 4.8 million tons by 2033, expanding at a CAGR of 3.0% during 2025-2033. Key factors propelling this growth include advancements in aquaculture technologies, favourable government policies supporting sustainable fisheries, and the escalating demand for value-added salmon products. Notably, the European Union currently dominates global consumption, accounting for over 46.3% of the market share in 2024.

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STUDY ASSUMPTION YEARS

• Base Year: 2024
• Historical Years: 2019-2024
• Forecast Years: 2025-2033

SALMON MARKET KEY TAKEAWAYS

• Market Size and Growth: The global salmon market reached 3.7 million tons in 2024 and is expected to grow to 4.8 million tons by 2033, exhibiting a CAGR of 3.0% during 2025-2033.
• Dominant Consumption Region: The European Union leads global consumption, holding over 46.3% market share in 2024.
• Type Segment: Farmed salmon accounts for most of the market share, ensuring year-round availability and predictable supply.
• Species Preference: Atlantic salmon holds the largest share in the salmon industry, attributed to its high protein and omega-3 content.
• Product Form: Frozen salmon remains a dominant segment due to its cost-effectiveness and extended shelf life, appealing to both consumers and businesses.
• Distribution Channel: Foodservice represents the leading distribution channel segment, driven by the increasing demand for ready-to-eat and convenience seafood products.

MARKET GROWTH FACTORS

1. Rising Consumer Awareness of Salmon's Nutritional Benefits

Consumers worldwide are increasingly aware of the health benefits of salmon, particularly its high omega-3 fatty acid content, protein, vitamins, and minerals. These nutrients support heart health, brain function, and overall immunity, making salmon a preferred choice for health-conscious individuals. Campaigns by health organizations and dietary experts continue to highlight salmon as a superfood, driving stronger demand across retail and foodservice channels. Moreover, with rising lifestyle diseases such as obesity, diabetes, and cardiovascular conditions, consumers are actively seeking nutrient-rich and low-calorie foods. The growing emphasis on balanced diets, fitness routines, and clean eating trends is pushing salmon consumption upward. This ongoing health-driven demand positions salmon as a central product in the global seafood market, accelerating consistent market expansion in the forecast period.

2. Role of Recirculating Aquaculture Systems (RAS) in Salmon Farming

Recirculating Aquaculture Systems (RAS) are revolutionizing salmon farming by improving sustainability, efficiency, and production capacity. Unlike traditional open-water farming, RAS allows farmers to raise salmon in controlled, land-based environments with minimal impact on oceans. This reduces disease risk, environmental pollution, and mortality rates while ensuring year-round production. As consumer preferences shift toward eco-friendly and responsibly farmed seafood, RAS is gaining significant traction among producers and investors. Governments and private players are funding aquaculture innovations, making RAS adoption more widespread. The system also supports scalability, enabling companies to meet growing salmon demand without overfishing. With sustainability becoming a crucial buying factor, RAS technology is set to drive salmon market growth by combining environmental responsibility with high-quality, traceable, and safe seafood production.

3. Rising Role of Seafood-Specialized Retail Chains in Salmon Market Growth

The increasing interest in healthy, protein-rich foods is driving up the demand for salmon, largely due to its high levels of omega-3 fatty acids, which are vital for heart and brain health. As people become more health-conscious, salmon has become a favored option. Moreover, the hectic pace of modern life is creating a need for convenient meal solutions. Ready-to-eat salmon options, including smoked, canned, and frozen forms, are becoming more popular for their quick preparation and nutritional benefits. The rise of e-commerce and subscription delivery services is also enhancing accessibility, allowing consumers to order their preferred salmon products from home. Together, these trends are supporting consistent growth in the global salmon market.

MARKET SEGMENTATION

By Type:

• Farmed: Accounts for most shares due to its ability to meet the growing global demand for salmon at a more consistent and affordable price.
• Wild Captured: Preferred for its natural diet and flavor profile, catering to niche markets and traditional consumption patterns.

By Species:

• Atlantic: Holds the largest share in the salmon industry, attributed to its high protein and omega-3 content.
• Pink: Known for its mild flavour and affordability, making it popular among consumers seeking value options.
• Chum/Dog: Valued for its firm texture and suitability for smoking and canning processes.
• Coho: Appreciated for its rich taste and vibrant colour, often used in premium culinary applications.
• Sockeye: Recognized for its deep red flesh and robust flavour, favoured in gourmet dishes.
• Others: Includes lesser-known species catering to specific regional preferences and culinary uses.

By End Product Type:

• Frozen: Remains a dominant segment due to its cost-effectiveness and extended shelf life, appealing to both consumers and businesses.
• Fresh: Preferred for its taste and texture, often consumed in regions with access to local fisheries.
• Canned: Offers convenience and affordability, widely accepted in North America and Europe.
• Others: Includes smoked, cured, and ready-to-eat products catering to diverse consumer preferences.

By Distribution Channel:

• Foodservice: Represents the leading distribution channel segment, driven by the increasing demand for ready-to-eat and convenience seafood products.
• Retail: Encompasses supermarkets, hypermarkets, and online platforms, offering a wide range of salmon products to consumers.

Breakup by Region:

o North America (United States, Canada)
o Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
o Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
o Latin America (Brazil, Mexico, Others)
o Middle East and Africa

REGIONAL INSIGHTS

In 2024, the European Union dominated the global salmon market, accounting for more than 46.3% of total consumption. This robust standing is attributed to the high demand for both farmed and wild salmon across various EU nations. Favorable government regulations and a strong emphasis on sustainable fishing practices have contributed to increasing salmon supply and aligning with the rising consumer desire for healthy, environmentally friendly seafood.

RECENT DEVELOPMENTS & NEWS

Recent improvements in fish farming technology are helping the salmon market grow faster. New methods like recirculating aquaculture systems (RAS) and eco-friendly fish feed are making salmon farming more efficient and better for the environment. At the same time, more people are buying salmon online thanks to subscription services and bulk order discounts. These changes show how the industry is working to meet rising global demand while staying sustainable and accessible.

KEY PLAYERS

Cermaq Group, Lerøy Seafood Group ASA, Mowi ASA, and SalMar ASA, etc.

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