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Salmon Market Size, Global Industry Price Trends, Share, Growth Rate and Research Report 2023-2028

Salmon Market Size, Global Industry Price Trends, Share, Growth Rate and Research Report 2023-2028

Global Salmon Market by Type (Farmed, Wild Captured), by Species (Atlantic, Pink, Chum/Dog, Coho, Sockeye Others), by End-Product Type (Frozen, Fresh, Canned Others), Key Players and Region – Industry Outlook to 2028.

According to the latest report by IMARC Group, the global salmon market reached a volume of 3.5 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 4.3 Million Tons by 2028, exhibiting a CAGR of 3.54% during 2023-2028. Salmon is one of the most popular and traded seafood species that belongs to the Salmonidae family. It is commonly found across the Northern Atlantic and Pacific oceans. Salmon is consumed by grilling, broiling, poaching, and pickling and can also be used in a wide variety of preparations. Salmon is rich in nutrients such as proteins, calcium, vitamins B3 and D, zinc, iodine, cholesterol, and omega-3 fatty acid. The presence of these nutrients is known to help in reducing the risk of cancer, improving cell function and lowering blood pressure levels.

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Salmon is considered a functional food that is used in an array of dishes, including pasta, sushi, burgers, salads, tartar sauce, and tacos. The growing disposable incomes and rising health consciousness have shifted the consumption patterns of individuals. An increasing number of consumers are now opting for lean meat and protein-rich foods like salmon in their daily diets, which is propelling the growth of the market. Besides this, with the growing working population and busy lifestyles, there has been an escalated demand for ready-to-cook and convenient food products like frozen and canned salmon. Furthermore, the introduction of innovative packaging formats by manufacturers like vacuum skin-packed salmon, which keeps the product fresh by eliminating contact with air, is also providing a positive outlook for the market.

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Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global salmon market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on type, species, end product type and distribution channel.

Breakup by Type:

  • Farmed
  • Wild Captured

Farmed salmon dominates the market due to the rising preference for high-quality seafood.

Breakup by Species:

  • Atlantic
  • Pink
  • Chum/Dog
  • Coho
  • Sockeye
  • Others

Atlantic species hold the largest segment as they are more nutritious than other species.

Breakup by End Product Type:

  • Frozen
  • Fresh
  • Canned
  • Others

Frozen salmon holds the market due to its longer shelf-life and high nutritional value.

Breakup by Distribution Channel:

  • Foodservice
  • Retail

The foodservice sector holds the largest market share due to the increasing consumer spending on restaurants and other dining establishments.

Regional Insights (Based on Production):

Farmed:

  • Norway
  • Chile
  • Scotland
  • Canada
  • Faroe Islands
  • Others

Wild Captured:

  • United States
  • Russia
  • Japan
  • Canada
  • Others

Breakup by Region (Based on Consumption):

  • European Union
  • Russia
  • United States
  • Brazil
  • Japan
  • China
  • Others

Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Cremaq Group ASA, Lerøy Seafood Group ASA, Mowi ASA, and SalMar ASA.

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