Salmon Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
Salmon belong to the family Salmonidae and are found in the northern Atlantic and Pacific oceans. They are anadromous, this means that most types of salmon are born in fresh water, migrate to the sea, and then again return back to freshwater to reproduce. These fish have eight fins all together including a tail, also known as caudal fin, which helps them to move easily. Salmon are capable of jumping over four metres to climb waterfalls and stay clear of the obstacles in the water. They are unique in nature as compared to other commercially harvested fish as they swim upstream through the estuaries and into the freshwater for the purpose of reproducing. Salmon can be used for grilling, broiling, poaching, pickling, roasting, smoking as well as for a variety of food preparations such as burgers, tartar, salads and several pasta dishes. According to the latest report by IMARC Group, titled “Salmon Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global salmon market reached a volume of 3.7 Million Tons in 2018.
Over the past few years, there has been an increase in the per capita consumption of protein which has resulted in the rising preference for fish as compared to animal meat as it is a rich source of protein. This is one of the major factors which has been proliferating the growth of the market. Apart from this, salmon also offers high levels of omega-3 fats, EPA and DHA which makes it a popular food product among health-conscious consumers as it is highly beneficial for decreasing the risk of heart diseases, diabetes and obesity. A rising worldwide demand for salmon can also be accredited to a rise in the disposable incomes across both developed and emerging economies. Some of the other factors which have positively influenced the growth of the global salmon market include rising health consciousness, value addition, changing dietary habits, convenient packaging, etc. Looking forward, the market volume is projected to reach 4.7 Million Tons by 2024, expanding at a CAGR of 3.9% during 2019-2024.
Based on type, the market has been segmented into farmed and wild captured. Currently, farmed salmon represents the largest segment on account of a significant rise in the salmon aquaculture across the globe.
On the basis of species, the market has been segregated into Atlantic, Pink, Chum/Dog, Sockeye and Coho. Amongst these, Atlantic salmon represents the most popular species amongst the consumers.
Based on the distribution channel, the market has been segmented as food service and retail. Foodservice currently represents the largest distribution channel.
Based on the end-product, the market has been segmented as frozen, fresh and canned. Amongst these, frozen salmon represents the most widely consumed product.
On the basis of production, Norway is the largest market for farmed salmon followed by Chile, Scotland, Canada and Faroe Islands. On the other hand, for wild captured salmon, the United States represents the biggest producing region followed by Russia, Japan and Canada.
The salmon market has also been segmented based on end-markets which represent the major consumption regions. This segment is being led by EU followed by the United States, Brazil, China, Russia and Japan.
The competitive landscape of the global salmon market has also been examined with some of the key players being Mowi ASA, Cermaq, Leroy Seafood group and SalMar.
This report provides a deep insight into the global salmon market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a salmon manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the salmon industry in any manner.
Key Questions Answered in This Report:
How has the global salmon market performed so far and how will it perform in the coming years?
What are the different salmon types?
What are the major distribution channels in the global salmon industry?
What are the end-product types in the global salmon industry?
What are the key producing regions for salmon?
What are the key end-markets for salmon?
What are the price trends of salmon?
What are the various stages in the value chain of the salmon industry?
What are the key driving factors and challenges in the global salmon industry?
What is the structure of the global salmon industry and who are the key players?
What is the degree of competition in the global salmon industry?
What are the profit margins in the global salmon industry?
What are the key requirements for setting up a salmon processing plant?
How is salmon processed?
What are the various unit operations involved in a salmon processing plant?
What is the total size of land required for setting up a salmon processing plant?
What are the machinery requirements for setting up a salmon processing plant?
What are the raw material requirements for setting up a salmon processing plant?
What are the packaging requirements for salmon?
What are the transportation requirements for salmon?
What are the utility requirements for setting up a salmon processing plant?
What are the manpower requirements for setting up a salmon processing plant?
What are the infrastructure costs for setting up a salmon processing plant?
What are the capital costs for setting up a salmon processing plant?
What are the operating costs for setting up a salmon processing plant?
What will be the income and expenditures for a salmon processing plant?
What is the time required to break-even?
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