Dublin, June 27, 2024 (GLOBE NEWSWIRE) -- The "Global Frozen Salmon Market by Product (Fillet Frozen Salmon, Smoked Frozen Salmon, Whole Frozen Salmon), Distribution Channel (Offline, Online), End-User - Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The Frozen Salmon Market grew from USD 27.79 billion in 2023 to USD 29.50 billion in 2024. It is expected to continue growing at a CAGR of 6.67%, reaching USD 43.68 billion by 2030.
Increasing health awareness about the nutritional benefits of salmon, the convenience and extended shelf life of frozen products, advancements in global supply chains, and rising disposable incomes significantly drive market growth. However, the market faces challenges such as supply chain disruptions caused by external factors, regulatory compliance issues due to varying international standards, market saturation in developed regions, and consumer preferences for fresh over frozen salmon. Moreover, the rise of online retail platforms, adoption of sustainable fishing and aquaculture practices, and development of value-added products such as pre-marinated or pre-cooked frozen salmon to meet the demand for convenience foods presents opportunities for market expansion.
Regional Insights
In the Americas region, consumer demand in the United States is bolstered by the quest for convenient and nutritious food options, emphasizing high-quality, sustainably sourced products. Similarly, Canada's market is fueled by rich natural resources and a strong focus on sustainable fishing, with a consumer preference for local and organic offerings underscoring a dedication to environmental conservation. The European Union, led by aquaculture giants like Norway, values quality, sustainability, and traceability, reflecting robust consumer demand for responsibly sourced frozen salmon.
The Middle East region shows a growing demand for premium seafood, fueled by rising disposable incomes and a trend towards healthier eating. Meanwhile, Africa's market is poised for growth driven by urbanization, increasing incomes, and a better understanding of seafood's nutritional benefits.
In Asia, China displays significant growth potential due to rising health awareness and the influence of Western cuisines, and e-commerce channels are pivotal for distribution. Japan's entrenched seafood culture maintains a steady demand for high-quality, convenient frozen salmon, essential for traditional dishes. India's market, while nascent, is driven by increasing incomes and an evolving palate that appreciates global cuisines and the health benefits of salmon.
Market Insights
Market Drivers
- Growing awareness regarding the health benefits of salmon
- Prolong shelf life and convenience of handling and storage
- Expansion of retail and e-commerce sector globally
Market Restraints
- Constraints due to product recalls
Market Opportunities
- Continuous improvements in freezing technology and storage solutions
- Increasing Investment in Aquaculture R&D
Market Challenges
- Varying international regulations on food safety and quality standards
Market Segmentation Analysis
- Product: Increasing Preference For Smoked Frozen Salmon As Premium Seafood
- End-User: Exploring Surged Usage Among Food Service Establishments Due To Year-Round Availability
Industry Insights
- Market Disruption Analysis
- Porter's Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
Recent Developments
- Scott & Jon's Expands Portfolio with New Microwavable Salmon Bowls
- Scott & Jon's, known for its frozen shrimp entrees, is expanding its convenience-focused offerings with new microwavable salmon bowls. These bowls contain Atlantic salmon, known for its lean protein and omega-3 fatty acids, and come in two flavors, including Honey Sesame, featuring white rice, a vegetable medley, and a honey sesame sauce, and Mediterranean Herbs, which includes brown rice, quinoa, and a blend of herbs and vegetables.
- High Liner Foods Invests in And Fjord Salmon Group to Expand Sustainable Atlantic Salmon Operations
- High Liner Foods has acquired a 4.5% stake in Norway's Andfjord Salmon Group for CAD 10 million, funded through operational cash. This investment supports Andfjord's capital raise and is expected to close within the month. Andfjord specializes in processing Atlantic salmon using sustainable techniques, including homemade natural plankton feed and energy-efficient natural flow technology.
- Laxey Secures EUR 40 Million Funding and Partnership with Skretting to Advance Sustainable Salmon Farming in Iceland
- Icelandic land-based salmon farming startup Laxey has successfully secured an additional EUR 40 million in funding and entered a strategic partnership with Skretting. The funding was provided by Blue Future Holding, a part of the German family-owned conglomerate EW Group and Nutreco, Seaborn, Kjartan Olafsson, an unnamed Dutch industrial seafood company, and multiple pension funds, including Almenni, Festa, and Westman Islands funds, along with Snaebol.
Key Company Profiles
The report delves into recent significant developments in the Frozen Salmon Market, highlighting leading vendors and their innovative profiles. These include:
- Acme Smoked Fish Holding Corp.
- Austevoll Seafood
- Aysencoho
- Delpeyrat
- Farne Salmon & Trout Ltd
- Grieg Seafood
- High Liner Foods Inc.
- Highland Farms Ltd.
- Leroy Fish Group
- Loki Fish Company
- Meralliance SAS
- Mowi ASA
- Multiexport Foods S.A.
- Nomad Foods Limited
- Norvelita
- Scott & Jon's
- Storm Seafood Inc.
- Suempol Sp. Z o.o.
- Thammachart Seafood
- UBAGO Group
- Young's Seafood Ltd.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 180 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $29.5 Billion |
| Forecasted Market Value (USD) by 2030 | $43.68 Billion |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | Global |
Market Segmentation & Coverage
This research report categorizes the Frozen Salmon Market to forecast the revenues and analyze trends in each of the following sub-markets:
Product
- Fillet Frozen Salmon
- Smoked Frozen Salmon
- Whole Frozen Salmon
Distribution Channel
- Offline
- Online
End-User
- Food Service Restaurants
- Household Consumers
For more information about this report visit https://www.researchandmarkets.com/r/lpu6xb
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