Please Wait.....
Report
Salmon - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029
Market Report I 2024-02-17 I 110 Pages I Mordor Intelligence
The Salmon Market size is estimated at USD 33.5 billion in 2024, and is expected to reach USD 49.39 billion by 2029, growing at a CAGR of 8.07% during the forecast period (2024-2029).
The global salmon sector has felt the impact of COVID-19 all along the supply chain, with production, processing, and logistics. In Norway, prices were very high in Q1, at over NOK 70 per kilo, and producers have benefitted from several strong years of prices, making the sector fairly resilient. In Chile, quarantines, curfews, and other COVID-19 restrictions have led to lower volumes of salmonids reaching processing plants.
Due to biological constraints, seawater temperature requirements, and other natural constraints, farmed salmon is mainly produced in the sea in Norway, Chile, the United Kingdom, North America, the Faroe Islands, Iceland, Ireland, New Zealand, and Tasmania. In 2020, more than 2.6 million tons of farmed salmonoids were produced. In comparison, only around 550,000 tons of wild salmonids were caught, with farmed salmon capturing nearly 74% of the overall salmon production in the world. Atlantic salmon is one of the most commonly cultured species of salmon across the world. The overall production of farmed Atlantic salmon was marked at 2.4 million metric ton in 2018, which increased to 2.74 million metric ton by 2020.
Good production of farmed Atlantic salmon had experienced a steep decline in the prices in both Norway and Chile in the first half of 2019. Subsequently, this declining price trend was sharply reversed, and prices soared to near-record heights, primarily attributed to the ever-strengthening demand in traditional and emerging markets such as China.
Salmon Market Trends
Healthy Boost in the Salmon Production
The global production of farmed salmon peaked at 2.68 million metric tons in 2020, with Chile's aquaculture sector performance gradually improving over the past few years. This has resulted in increased salmon culture, especially Atlantic salmon culture, which is garnering nearly 74% of the salmon production in the world. The bulk of production increase is observed in Chile, at around 14% from 2018 to 2019, where a new regulatory regime is producing results. Similarly, in Norway, the world's largest producing country, a cold winter and fish health issues translated into a modest 5% increase in salmon harvests.
Moreover, the growth in supply is unable to satiate the salmon demand globally. As demand for salmon continues to strengthen globally, a combination of geographic and regulatory constraints on traditional open net-pen farming has limited the ability of producers to keep pace. However, increasing investments in the salmon production in the Chinese market, coupled with the technological approaches such as land and off-shore based culture and genetically engineered salmon, are some of the potential opportunities for pacing up the production further.
Chile leads the Salmon Market as Norway Grapple with Fish Health
The global supply growth of farmed salmon is led by Chile surpassing the constraints pertaining to the mass algal bloom mortalities, thereby maintaining its profitability. In 2020, more than one million metric ton of salmon were harvested in Chile, the country's highest value produced since 2007 as per Chilean trade body SalmonChile. Farmed salmon production uses 13 times less water, and its carbon footprint is ten times less than that of livestock.
The industry reached an agreement with Monetary Bay Aquarium in 2019 to reduce the use of antibiotics by 25% by 2050. In 2020, the industry lowered its antibiotic use rate to 298 grams-per-MT of biomass harvested, down from the 621 grams-per-metric ton it registered in 2016 and a 14.6% drop from the 349 grams-per-MT it used in 2019.
A relatively lower rate of production growth was observed in Europe, especially in Scotland, during the same period. For the past two years, Norwegian production has also been growing at a relatively slow rate due to regulatory constraints and sea lice difficulties. The total harvest quantity of salmonids in Norway in 2020 amounted to 1.46 million metric ton, representing an increase of 3.5% compared to 2019.
Norway's salmon industry had successfully pushed for bold changes in the supply chains for soya, an important vegetable component of salmon feed. All the Brazilian soy suppliers to the Norwegian salmon farming industry agreed to the implementation of a 100 % deforestation and conversion-free soybean value chain with 2020 as their cut-off date.
The Chilean salmon farming sector achieved very prospecting results. Production costs have fallen, and biological conditions at farms have reportedly improved, reflected in higher harvests that have even surpassed those of Norway. This is particularly driving the efforts to develop new approaches to farming, mainly focused on closed containment technologies, both on land and at sea. Also, new aquaculture operations are being set up in a variety of geographically dispersed countries, such as Iceland, the Russian Federation, and China, which is likely to spike up the salmon supply in the years to come.
Salmon Industry Overview
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions and Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Supply Chain Analysis
5 MARKET SEGMENTATION
5.1 Species Type
5.1.1 Atlantic Salmon
5.1.2 Coho Salmon
5.1.3 Masu Salmon
5.1.4 Chinook Salmon
5.1.5 Other Species Types
5.2 Type
5.2.1 Farmed
5.2.2 Wild Captured
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.2 Europe
5.3.2.1 Norway
5.3.2.2 Spain
5.3.2.3 Netherlands
5.3.2.4 France
5.3.2.5 Italy
5.3.2.6 Greece
5.3.2.7 United Kingdom
5.3.2.8 Scotland
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 Australia
5.3.4 South America
5.3.4.1 Chile
6 MARKET OPPORTUNITIES AND FUTURE TRENDS
7 AN ASSESSMENT OF THE IMPACT OF COVID-19
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security