Salmon Fish Market to reach USD 35.5 Bn by 2032, Says Global Market Insights Inc.

Major salmon fish market participants include Lerøy, Salmar ASA, Cermaq, Mowi ASA, Bakkafrost, SEA DELIGHT GROUP, Nordlaks Produkter AS, Atlantic Sapphire, Ideal Foods Ltd, BluGlacier, Cooke Aquaculture.

Selbyville, Delaware, March 05, 2024 (GLOBE NEWSWIRE) -- The salmon fish market valuation is projected to be worth USD 35.5 billion by 2032, as reported in a research study by Global Market Insights Inc.

As consumers recognize the nutritional benefits of seafood, including its high protein content and omega-3 fatty acids, the demand for seafood as a protein source continues to rise. This can be ascertained by the fact that, according to Food Dive, global seafood demand as a protein source is projected to grow rapidly by 14% by 2030 compared to 2020 levels, driven by Asia, Europe, Latin America, and Oceania. This trend is driven by factors such as increasing health consciousness, dietary preferences for lean protein sources, and the growing popularity of seafood-based diets. Additionally, seafood's versatility in culinary applications and its association with health & wellness further contribute to its demand among consumers globally.

Aquaculture has expanded in recent years, addressing various challenges faced by traditional wild-caught fisheries, such as overfishing and environmental concerns. Salmon aquaculture provides controlled breeding environments, efficient feed utilization, and alleviates pressure on wild fish stocks. Additionally, advancements in aquaculture technology have boosted efficiency, yields, and sustainability in salmon farming operations, thereby fostering salmon fish marketgrowth.

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Pacific salmon segment is anticipated to showcase robust growth till 2032, owing to their rich flavor, succulent texture, and nutritional benefits. Renowned for their migratory patterns and pristine habitat, Pacific salmon are harvested from the wild in regions such as Alaska and the Pacific Northwest. Their popularity in culinary applications, including sushi, sashimi, and smoked salmon dishes, favor the demand for Pacific salmon in both domestic and international markets.

Convenience stores segment is poised to expand unprecedently till 2032, as they offer consumers quick and convenient access to a variety of seafood products, including fresh, frozen, and packaged salmon. The growing demand for on-the-go meal options and the increasing presence of refrigerated and frozen sections in convenience stores are driving sales of salmon products. Moreover, partnerships between seafood suppliers and convenience store chains are expanding product availability and enhancing consumer convenience, further fueling market growth.

Asia Pacific salmon fish market is expected to witness decent growth during the study period, propelled by growing population, rising disposable incomes, and changing dietary preferences. Countries such as China, Japan, South Korea, and Australia are experiencing a surge in salmon consumption, driven by the growing popularity of Western cuisines, increasing health consciousness, and the rise of urbanization. Furthermore, the expansion of aquaculture operations and the development of cold chain infrastructure are facilitating the distribution of salmon products across the region, contributing to market growth.

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Major contenders in the salmon fish market include, Marine Harvest (Mowi ASA), Cermaq Group, Lerøy Seafood Group, SalMar ASA, Grieg Seafood ASA, Bakkafrost, Cooke Aquaculture, Scottish Sea Farms, Tassal Group, Huon Aquaculture Group among others.

Partial chapters of report table of contents (TOC):

Chapter 1   Methodology & Scope

1.1   Industry coverage

1.2   Market scope & definition

1.3    Base estimates & calculations

1.3.1   Data collection

1.4    Forecast parameters

1.5    COVID-19 impact analysis at global level

1.6   Data validation

1.7   Data Sources

1.7.1   Primary

1.7.2   Secondary   Paid sources   Unpaid sources

Chapter 2   Executive Summary

2.1   Salmon Fish market 360º synopsis, 2018 – 2032

2.2   Business trends

2.3   Species trends

2.4   Form trends

2.5   Distribution channel trends

2.6   Regional trends

Chapter 3   Salmon Fish Industry Insights

3.1   Industry ecosystem analysis

3.2   Industry impact forces

3.2.1    Growth drivers

3.2.2    Industry pitfalls & challenges

3.3   Growth potential analysis

3.4   COVID- 19 impact analysis

3.5   Regulatory landscape

3.5.1    U.S.

3.5.2    Europe

3.6   Pricing analysis, 2022

3.7   Technology landscape

3.7.1    Future market trends

3.8    Porter's analysis

3.9    PESTEL analysis

3.10    Russia-Ukraine War Impact on the industry

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About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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