Portland, OR, July 12, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global salmon market generated $50.17 billion in 2020, and is expected to reach $76.14 billion by 2028, witnessing a CAGR of 3.7% from 2021 to 2028. The report provides an extensive analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Increase in fish production for fulfilling the food demand, surge in demand for nutritious diet, and technological advancements in fish harvesting/aquaculture drive the growth of the global salmon market. However, adoption of veganism and increase in animal cruelty in animal farms and slaughterhouses hinder the market growth. On the other hand, breeding activities of salmon to improve quality, evolution in inland fishing, and utilization of sustainable technology in salmon fish farming present new opportunities in the future.
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Covid-19 Scenario:
- Owing to the lockdown and implementation of social distancing measures, salmon fish farming, breeding, and other activities related to aquaculture have been stopped partially or completely. These activities are expected to resume during the post-lockdown.
- The supply chain disruptions led to restricted distribution. Moreover, the ban on import and export activities created a supply-demand gap. However, the supply chain is expected to be restored during the post-lockdown.
The report offers detailed segmentation of the global salmon market based on type, end product type, distribution channel, and region.
Based on type, the pink salmon segment accounted for the highest share in 2020, holding more than one-fourth of the total market share, and is estimated to maintain its leadership status during the forecast period. However, the coho salmon segment is projected to manifest the highest CAGR of 5.9% from 2021 to 2028.
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Based on distribution channel, the retail stores segment contributed to the highest share in 2020, accounting for nearly half of the global salmon market, and is expected to continue its lead position during the forecast period. However, the online sales channels segment is estimated to portray the largest CAGR of 5.3% from 2021 to 2028.
Based on region, Asia-Pacific held the highest share in 2020, accounting for nearly two-fifths of the total share, and is estimated to maintain its dominance in terms of revenue by 2028. Moreover, this region is projected to manifest the fastest CAGR of 5.2% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.
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Leading players of the global salmon market analyzed in the report include Cremaq Group ASA, Mowi ASA, Leroy Seafood Group ASA, Bakkafrost, SalMar ASA, Blumar, Greig Seafood, Nova Sea, Salmones Camanchaca, Alsaker Fjordbruk, and Nordlaks.
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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.
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