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Salmon Fish Market Analysis

  • Report ID: GMI7163
  • Published Date: Oct 2023
  • Report Format: PDF

Salmon Fish Market Analysis

Salmon Fish Market Size, By Species, 2021 - 2032 (USD billion)

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Based on species, the Atlantic salmon segment accounted for USD 11.81 billion in 2022. Atlantic salmon is, recognized for its mild flavor and tender flesh. It is predominantly farmed, with major production hubs located in countries such as Norway, Chile, and Canada. The consistently high market share of Atlantic salmon is attributable to its widespread popularity among consumers and its versatile culinary applications, making it a preferred choice for various cuisines and cooking styles worldwide.
 

Salmon Fish Market Revenue Share (%), By Form, (2023)

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Based on form, the fresh salmon held a dominant market share of around 42% in 2022. Fresh salmon is catered to consumers who prioritize the quality and natural taste of salmon. The demand for fresh salmon is particularly high in regions where consumers have access to coastal areas and prefer locally sourced seafood products. Frozen salmon also commands a significant market share, driven by its longer shelf life and convenience, making it a popular choice for consumers seeking a convenient and readily available option.
 

Based on distribution channel, the supermarkets and hypermarkets hold a significant market share, serving as primary retail destinations for consumers seeking a wide range of salmon products under one roof. These establishments often provide various options in terms of fresh, frozen, and processed salmon, catering to diverse consumer preferences and culinary needs. Convenience stores also contribute to the market share, particularly in urban areas and locations with high consumer foot traffic. They offer a convenient option for consumers seeking quick and easily accessible salmon products, emphasizing the importance of on-the-go consumption and impulse purchases in the salmon fish business.
 

U.S. Salmon Fish Market Size, 2020- 2032 (USD billion)

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North America salmon fish market revenue to crossed USD 5.57 billion in 2022. North American consumers' increasing awareness of the health benefits associated with consuming salmon, such as its high omega-3 fatty acid content and various essential nutrients, has bolstered the market share. Moreover, the popularity of salmon as a versatile ingredient in various cuisines and cooking styles has further contributed to its significant presence in the region's culinary landscape.

Authors: Kiran Pulidindi, Manish Mohanan

Frequently Asked Questions (FAQ) :

The market size of salmon fish was worth USD 17.3 billion in 2023 and is estimated to reach USD 35.5 billion by 2032, driven by the strong presence of high content of omega-3 fatty acids and essential nutrients.

The supermarkets and hypermarkets distribution channel segment will hold significant share of the salmon fish market by 2032, owing to wide availability of fresh, frozen, and processed salmon for catering to diverse consumer preferences and culinary needs.

Salmon fish market in North America was exceeded USD 5.57 billion in 2022 and is anticipated to expand at significant pace from 2023 to 2032, due to the increasing consumer awareness of the health benefits.

Some of the prominent salmon fish companies are Salmar ASA, Cermaq, Mowi ASA, Bakkafrost, SEA DELIGHT GROUP, Nordlaks Produkter AS, Atlantic Sapphire, and Ideal Foods Ltd.

Salmon Fish Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 191
  • Countries covered: 21
  • Pages: 210
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