Valued at USD 15.98 billion in 2022, the global salmon fish market is projected to reach USD 17.29 billion in 2023 and USD 35.50 billion by 2032, growing at a CAGR of 8.3% during the forecast period 2023–2032. Key players include Mowi ASA, SalMar ASA, Bakkafrost, Cermaq, Leroy Seafood Group, Cooke Aquaculture, Nova Sea, Greig Seafood, AquaChile, Salmones Camanchaca, Blumar, and Alsaker Fjordbruk. The report positions salmon's omega-3 content, minerals, micronutrients, high-quality proteins, and vitamins as reasons for higher consumption worldwide.

Salmon Aquaculture and Production Scale

Production scale is considerable. According to Mowi's annual report, salmon produced by Mowi reached about 2.6 million metric tons of gutted weight in 2021, with over 1 million metric tons consumed in the European Union market. Norway accounted for more than half of the total volume of salmon harvested, amounting to nearly 1.4 million metric tons in 2021.

The species segment is split into Atlantic/Aquaculture and Pacific categories, and salmon aquaculture operators such as Mowi, SalMar, and Cermaq are among the key players. In 2023, SalMar acquired Scotland-based Scottish Sea Farms, strengthening its presence in the European seafood market, expanding production capacity, and enhancing distribution networks to meet growing demand for high-quality seafood. The report lists growing carbon dioxide emissions and disease outbreaks among the restraints facing the industry.

Browse Full Insights:

https://www.polarismarketresearch.com/industry-analysis/salmon-fish-market

Pacific Salmon Species and Nutrition-Led Demand

The Pacific species segment is expected to register considerable growth during the forecast period because of its omega-3 and vitamin content and the growing prevalence of superfoods, supported by dietary recommendations from recognized organizations. Pacific salmon normally thrive in North American waters of the United States and Canada and are found in five types: pink, red, coho, chum, and chinook.

Salmon is also valued for supporting child growth and development and for helping maintain the body's balance of calcium and phosphorus, and the report cites its role in addressing health issues such as systemic inflammation, obesity, and hypertension. Product innovation is part of this story, with manufacturers introducing frozen products, salmon oil, smoked items, spreads, and canned offerings.

Plant-Based Salmon and Sustainable Seafood

Alternative proteins and sustainability are shaping recent developments. In January 2022, Plantish launched a whole-cut plant-based salmon with a USD 2 million funding round. The fillet is made from a combination of algae extract and legume proteins, provides protein, vitamin, and omega-3 levels equivalent to conventional salmon, and is free from toxins such as mercury and microplastics.

In 2024, Leroy invested in Salmonic Inc., a U.S.-based biological innovator, to boost growth in sustainable seafood production. The investment underscores the rising focus on eco-friendly aquaculture and positions Leroy as a key player in the North American sustainable seafood market.

Regional Trade Flows and Retail Demand

Europe dominated the industry in 2021 and is likely to retain its position, with rapidly growing demand in the United Kingdom, Italy, and Germany. Asia Pacific is projected to register the highest growth rate, supported by consumer growth in India and China, favorable regulations, and improved transport infrastructure. The fresh form held the largest revenue share in 2022, while the frozen form is expected to expand at a significant growth rate because freezing supports long-term preservation of seafood.

SeafoodSource reported that salmon was the top-selling seafood species in U.S. supermarkets, with sales rising over 9.3% to USD 2.5 billion. Increasing product purchasing through offline grocery stores and grocery chains in the U.S., Canada, Germany, and Brazil is creating further expansion opportunities for key companies. Increased awareness of the benefits of consuming salmon, and a growing number of grocery chains offering easy access for customers, are likely to have a positive impact on market growth.

Outlook for B2B Stakeholders

For B2B decision-makers, the report indicates that nutrition-led demand, aquaculture investment, and sustainability-focused innovation will remain central to the salmon fish market through 2032. Growth drivers also include the rapidly growing need for healthy and nutritional food, the rising prevalence of chronic conditions, and busy lifestyles that have increased demand for ready-to-eat food products.

More Trending Latest Reports By Polaris Market Research:

Gynecological Examination Chairs Market

Fluoropolymers Market

Safari Tourism Market

Enterprise Content Management Market

Automotive Ceramics Market

Mass Flow Controller Market

Hemophilia A Treatment Market

AI Trust, Risk and Security Management Market