The global salmon market was valued at 3.7 Million Tons in 2024 and is projected to reach 4.8 Million Tons by 2033, exhibiting a CAGR of 3.0% during 2025-2033. Market growth is driven by rising seafood consumption, favorable government policies, and advancements in aquaculture technology enhancing production efficiency. The European Union leads consumption with over 46.3% market share in 2024. Study Assumption Years

• Base Year: 2024
• Historical Years: 2019-2024
• Forecast Period: 2025-2033

Salmon Market Key Takeaways

• Current Market Size: 3.7 Million Tons (2024)
• CAGR: 3.0% (2025-2033)
• Forecast Period: 2025-2033
• The European Union dominates salmon consumption, holding a 46.3% market share in 2024.
• Farmed salmon leads the type segment with 75.51% market share due to year-round controlled production.
• Atlantic salmon is the dominant species with 63.7% market share, favored for its versatility and aquaculture adaptation.
• Frozen salmon accounts for 58.3% of the market, favored for convenience, shelf life, and transportation benefits.
• Foodservice distribution channel holds 66.6% market share, driven by salmon's popularity in dining and delivery.

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Market Growth Factors

The global salmon market is expanding due to increasing investments in aquaculture technology that improve disease resistance, growth rates, and overall yield. Continual advancements in sustainable feed formulations promote efficiency and reduce environmental impact. Government initiatives, such as India's Pradhan Mantri Matsya Sampada Yojana (PMMSY), aim to increase fish production by 7 million MT and exports by USD 12 Billion by FY 2025, fostering modernization, disease management, and responsible farming.

Digitalization within seafood supply chains, including blockchain traceability and automated quality control, boosts logistics efficiency and consumer confidence. In the United States, rising domestic aquaculture reduces imports and stabilizes supply, while consumer preferences for antibiotic-free, non-GMO, and organic seafood push producers to adopt sustainable practices. The growing retail and foodservice sectors offer ready-to-eat and sushi-grade salmon, catering to convenience-oriented consumers. E-commerce sales accounted for 16.4% of total sales in Q4 2024, indicating a significant shift towards online platforms.

Health awareness significantly fuels salmon demand. Approximately 36% of Americans adopted diets promoting healthy eating in 2023. Salmon's richness in Omega-3 fatty acids, protein, and vitamins supports cardiovascular health and brain function. Public health campaigns and endorsements by healthcare professionals increase awareness, particularly among middle-aged and older demographics focused on heart health. This nutritional attention creates strong consumer demand, driving overall market growth.

Ongoing technological developments in aquaculture, such as recirculating aquaculture systems (RAS) and improved fish feed, enhance production efficiency and fish quality. For example, Multigen Akva in Norway introduced a modular RAS for closed sea farming in November 2024, using ultrafiltration to remove pathogens and employing zero-emissions strategies. These advancements mitigate environmental impacts like water pollution and antibiotic misuse, attracting eco-conscious consumers and further propelling market demand.

The global expansion of seafood-specialized retail chains and restaurants additionally supports market growth. Per capita fish consumption increased 81.43% over 15 years, reaching 8.89 kg with a 4.05% yearly rate. These venues offer diverse salmon dishes and localized menus to suit tastes worldwide. New market entries in emerging economies boost consumer exposure. Online ordering and food delivery applications facilitate convenient access to salmon meals, increasing consumption and visibility.

Market Segmentation

By Type:

• Farmed: Comprises around 75.51% market share in 2024. Cultivated in controlled aquaculture environments, farmed salmon provide consistent year-round supply, higher yields, improved quality, and cost-effectiveness. They are trackable for food safety and can be bred for desired qualities like higher Omega-3 content, driving consumer preference globally.
• Wild Captured: Not explicitly quantified in source.

By Species:

• Atlantic: Holds about 63.7% market share in 2024. Known for versatility, mild flavor, tender texture, and suitability across culinary practices. Highly adaptable to aquaculture, it is abundant due to ease of breeding and sustainable practices, widely available and positioned as a premium yet reasonably priced option.
• Pink: Not provided in source.
• Chum/Dog: Not provided in source.
• Coho: Not provided in source.
• Sockeye: Not provided in source.
• Others: Not provided in source.

By End Product Type:

• Frozen: Leads with approximately 58.3% market share in 2024. Maintains nutritional quality comparable to fresh salmon, extends shelf life, reduces waste, and is more convenient and economical for transport and distribution, enabling access in non-coastal regions.
• Fresh: Not provided in source.
• Canned: Not provided in source.
• Others: Not provided in source.

By Distribution Channel:

• Foodservice: Commands around 66.6% market share in 2024. Popular in various restaurant formats due to taste and versatility, offering convenient ready-to-eat options and benefiting from economies of scale and food delivery services.
• Retail: Not provided in source.

Regional Insights

The European Union dominates the salmon market based on consumption, with over 46.3% share in 2024. The region benefits from a strong cultural affinity for seafood, advanced aquaculture infrastructure, and proximity to producers like Norway and Scotland. High consumer disposable incomes, government initiatives supporting sustainable fisheries, and stringent quality regulations further strengthen the EU's market position.

Recent Developments & News

• February 2025: Salmon Evolution partnered with Lofotprodukt to launch Norway’s first smoked salmon from a land-based facility under the Lofoten brand, reaching Norwegian retail stores.
• February 2025: Dutch group Pan Ocean Aquaculture (POA) announced plans for a salmon-producing vessel using a fully-enclosed ocean aquaculture system.
• July 2024: Captain Fresh acquired Polish branded salmon product company Koral to expand its global market reach and enhance supply chains.
• March 2024: Eleven salmon farmers in Chile collaborated with industry bodies and government agencies to improve vaccine availability, reduce antibiotics usage, and support sustainable 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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