Salmon Market worth USD 33,046.65 million by 2033

The Market Statsville Group (MSG) publishes the new report on the "Salmon Market by Species, by Fish Type (Farmed, Wild), by Product Type, by End User, By Region – Global Share and Forecast to 2033

According to the Market Statsville Group (MSG), the global Salmon market size is expected to grow from USD 21,694.84 million in 2022 to USD 33,046.65 million by 2033, at a CAGR of 8.1% from 2023 to 2033.

The Salmon market consists of sales of Salmon services by entities (organizations, sole traders, and partnerships). Salmon is commonly defined as an oily fish with rich content of protein and omega-3 fatty acids. Salmon fish demand is being fueled by increased health consciousness, inactive lifestyle patterns, rising obesity among the population, and rising disposable money. Consumers are more concerned with including protein-rich foods in their diets; thus, salmon is utilized in the creation of a variety of foods such as pasta, patties, burgers, and rice meals. Furthermore, producers have developed a variety of salmon products, such as salmon oil, salmon spreads, smoked salmon, frozen salmon, and canned salmon, to meet the diverse tastes of a diverse client base. Furthermore, as the working population grows, the demand for frozen and canned salmon grows tremendously. The rise of ready-to-eat food products has resulted from our hurried lifestyle.

Global Salmon Market Segmentation

The overall Salmon market has been segmented into species, fish type, product type, end user and region.

• By Species (Atlantic, Pink, Chum/Dog, Coho, Sockeye, Other)
• By Fish Type (Farmed, Wild)
• By Product Type (Canned, Fresh, Frozen, Others)
• By End User (E-commerce (online), Retail, Brick & Mortar Stores (offline), HoReCa & Wholesale, Processed Food Industry, Other Institutional Customers)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Wild segment is at the highest CAGR during the forecast period

Wild segment is expected to grow at the highest CAGR during the forthcoming period owing to its tremendous growth demand due to growing demand for packaged sea food coupled with increasing number of employments as salmon farming often employs a large number of workers on farms and in processing plants.

On the other hand, farmed is expected to account for the highest market share due to it is much higher in fat, containing slightly more omega-3s, much more omega-6 and three times the amount of saturated fat. Farmed salmon is higher in vitamin C, saturated fat, polyunsaturated fatty acids and calories.

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The Asia Pacific accounts for the highest CAGR during the forecast period

Over the forecast period, the Asia Pacific market is expected to grow rapidly. The increasing working population prefers ready-to-consumer foods as these require considerably less time for cooking and are available in a variety of options. Also, the rapid surge in the E-commerce sector as well as huge population provides a positive scenario for the growth of the market. In addition, favorable trade norms introduced by emerging economies are expected to serve as a good opportunity for salmon producers. Moreover, the frozen food business is prospering in Japan, from the exigencies of the pandemic, which has forced increasing numbers of people to eat and work at home. Frozen food services and related products have emerged to cater to consumer needs, which lead to drive the growth of the market.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the Salmon market. It also consists of the profiles of leading companies such as Nova Sea, Blumar SA, Nordlaks, Bakkafrost, Leroy Seafood Group ASA, Greig Seafood, Mowi ASA, Cremaq Group ASA, Salmones Camanchaca, SalMar ASA. The key players' growing research and development activities for launching innovative healthcare devices with advanced features and strategic unions are expected to drive market growth.

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Market Statsville Group (MSG) is a business research and consulting platform of Statsville Consulting Private Limited, based in Oklahoma, USA. MSG is the leading market research and strategy builder with the depth and breadth of solutions that perfectly suit your needs. MSG provides solutions in a wide range of industry verticals in market sizing, analysis, and intelligent business insights. MSG has experienced research analysts who are proficient at digging deep and providing various customizable data that help you make decisions with clarity, confidence, and impact. Furthermore, Market Statsville Group already benefited more than 1,000 companies each year for their revenue planning. It helped them take their disruptions/innovations early to the market by providing them with research ahead of the curve.

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