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 global salmon market is primarily driven by the steady rise in seafood consumption worldwide, supported by changing dietary preferences and growing health awareness among consumers. Salmon is widely recognized for its high protein content, omega-3 fatty acids, and essential nutrients, making it a preferred choice among health-conscious consumers. As lifestyles become more wellness-oriented, consumers are increasingly substituting red meat with nutrient-rich seafood options. This trend is particularly strong in developed regions and is gradually expanding in emerging markets as awareness improves. The perception of salmon as a premium, healthy protein source continues to support consistent consumption growth, reinforcing overall market expansion through 2033.

Rising disposable incomes in emerging economies are significantly contributing to the growth of the salmon market. As income levels increase, consumers gain greater purchasing power and are more willing to spend on high-quality and imported protein sources such as salmon. Urbanization, expansion of modern retail channels, and exposure to global food trends are further accelerating salmon consumption in developing regions. Middle-class populations in Asia-Pacific and Latin America are increasingly incorporating salmon into their diets, both in fresh and processed forms. This income-driven shift toward premium seafood products is expanding the consumer base, reducing market dependence on mature regions, and supporting long-term volume growth.

Supportive government policies related to aquaculture development, sustainable fishing practices, and seafood trade are strengthening the global salmon market. Regulations promoting responsible aquaculture and supply chain transparency are improving production efficiency and boosting consumer confidence. Simultaneously, demand for value-added salmon products such as smoked, marinated, frozen, and ready-to-cook formats is rising rapidly. Busy lifestyles and the growth of convenience-oriented food consumption are encouraging consumers to choose processed salmon products with longer shelf life and easy preparation. This shift toward value-added offerings is enhancing product penetration, increasing per-unit value, and driving revenue growth across both retail and foodservice channels.

Market Segmentation

By Type:

• Farmed: Accounts for approximately 75.51% market share in 2024. Farmed salmon is produced in controlled aquaculture environments, allowing a consistent year-round supply, superior quality control, and enhanced omega-3 content, meeting market demands sustainably.

• Wild Captured: Also significant but less than farmed. The 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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