The global salmon market was valued at 3.7 Million Tons in 2024 and is projected to reach 4.8 Million Tons by 2033, growing at a CAGR of 3.0% during 2025-2033. The expanding market is driven by rising seafood consumption, advancements in aquaculture technologies, and increasing demand for value-added salmon products. The European Union leads consumption with over 46.3% market share in 2024, supported by strong supply chains and health awareness.
Study Assumption Years
- Base Year: 2024
- Historical Years: 2019-2024
- Forecast Period: 2025-2033
Salmon Market Key Takeaways
- The global salmon market size was 3.7 Million Tons in 2024.
- The market is projected to grow at a CAGR of 3.0% from 2025 to 2033.
- The forecast period for growth is 2025 to 2033.
- Farmed salmon dominates with approximately 75.51% market share in 2024.
- Atlantic salmon leads species with around 63.7% market share in 2024.
- Frozen salmon accounts for around 58.3% of the market in 2024.
- Food service is the leading distribution channel with about 66.6% market share in 2024.
- European Union dominates consumption with over 46.3% market share in 2024.
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Market Growth Factors
The salmon market growth is fueled by increasing investments in aquaculture technology, which enhance disease resistance, growth rates, and overall yields. Sustainable feed formulations and government initiatives supporting responsible farming practices contribute significantly. For example, India's Pradhan Mantri Matsya Sampada Yojana (PMMSY) aims for a 7 million MT increase in fish production and USD 12 Billion export growth by FY 2025. Such initiatives promote modern aquaculture and sustainable salmon farming.
Consumer health awareness significantly drives salmon demand as it is rich in Omega-3 fatty acids, protein, and vitamins. About 36% of Americans adopted a diet focusing on healthy habits in 2023. Public health campaigns and medical endorsements particularly among middle-aged and older adults have heightened the perceived cardiovascular and brain health benefits, boosting salmon consumption globally.
Technological advances in aquaculture like recirculating aquaculture systems (RAS) improve production efficiency and environmental sustainability. For instance, Multigen Akva introduced modular RAS technology that filters viruses and bacteria, operates in coastal regions, and employs zero-emission waste processing. These innovations raise productivity, reduce environmental impacts, and attract eco-conscious consumers, thus expanding the market.
Market Segmentation
By Type:
- Farmed: Accounts for approximately 75.51% market share in 2024. Farmed salmon is produced in controlled aquaculture environments allowing consistent year-round supply, superior quality control, and enhanced omega-3 content, meeting market demands sustainably.
- Wild Captured: Also significant but less than farmed. Wild salmon supply is seasonal and influenced by environmental factors.
By Species:
- Atlantic: Leads with about 63.7% of market share in 2024. Known for its versatile mild flavor and tender texture, it is widely accepted globally and easily farmed in controlled environments.
- Pink, Chum/Dog, Coho, Sockeye, Others:* Other species contribute but details beyond Atlantic are not provided.
By End Product Type:
- Frozen: Dominates with roughly 58.3% market share in 2024. Frozen salmon offers convenience, longer shelf life, and easier transportation compared to fresh, enabling broader market reach.
- Fresh, Canned, Others: Present but with no specific data in source.
By Distribution Channel:
- Foodservice: Leads with approximately 66.6% market share in 2024. Salmon's versatility makes it popular in various dining establishments, with convenience and bulk procurement advantages driving demand.
- Retail: Also a key channel but with no specific market share data extracted.
Regional Insights
The European Union dominates salmon consumption with more than 46.3% market share in 2024. This leadership is supported by strong cultural seafood affinity, proximity to major producers like Norway and Scotland, and high disposable incomes enabling premium salmon purchases. The EU benefits from well-established supply chains, cold storage infrastructure, and favorable trade agreements, fostering stable market growth and consumer trust.
Recent Developments & News
- February 2025: Salmon Evolution, in partnership with Lofotprodukt, launched Norway's first smoked salmon from a land-based facility under the premium Lofoten brand, available in Meny and Spar stores, marking sustainable seafood innovation.
- February 2025: Dutch group Pan Ocean Aquaculture (POA) announced plans for a salmon-producing vessel utilizing a fully-enclosed aquaculture system for ocean farming.
- July 2024: Captain Fresh acquired Koral, a Polish branded salmon product company, to expand global reach and supply chain capabilities.
- March 2024: Eleven salmon farmers in Chile collaborated with industry and government to improve vaccine availability, aiming to reduce antibiotic use and bacterial diseases in salmon farming.
Key Players
- AquaChile S.A. (Agrosuper S.A.)
- Atlantic Sapphire
- Australis Seafoods
- Bakkafrost P/F
- BluGlacier, LLC
- Camanchaca S.A.
- Cermaq Group AS (Mitsubishi Corporation)
- Grieg Seafood ASA
- Lerøy Seafood Group ASA
- Mowi ASA
- SalMar ASA
- Tassal Group Limited (Cooke Aquaculture Inc.)
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