The global salmon market size was valued at 3.7 Million Tons in 2024. It is projected to reach 4.8 Million Tons by 2033, growing at a CAGR of 3.0% during the forecast period 2025-2033. The market expansion is driven by factors such as rising seafood consumption, increasing consumer disposable incomes in emerging economies, technological advancements in aquaculture, favorable government policies, and an increased demand for value-added salmon products. The Salmon Market benefits from sustainable practices and digitalization, improving supply chain efficiency.
Study Assumption Years
- Base Year: 2024
- Historical Year/Period: 2019-2024
- Forecast Year/Period: 2025-2033
Salmon Market Key Takeaways
- Current Market Size: 3.7 Million Tons in 2024
- CAGR: 3.0%
- Forecast Period: 2025-2033
- Farmed salmon leads the market with approximately 75.51% share in 2024 due to controlled aquaculture environments and consistent supply.
- Atlantic salmon dominates the species segment with around 63.7% market share in 2024, favored for its versatile flavor and aquaculture adaptability.
- Frozen products represent the largest end product segment with about 58.3% market share in 2024, offering convenience and shelf stability.
- Food service channels hold approximately 66.6% share in distribution, driven by salmon’s versatility and growing dining out trends.
- The European Union dominates salmon consumption with over 46.3% market share in 2024, supported by cultural affinity and strong supply chains.
Sample Request Link:
https://www.imarcgroup.com/salmon-market/requestsample
Market Growth Factors
The rising global consumption of seafood, particularly salmon, is one of the primary factors driving the market growth. Increases in consumer disposable incomes in emerging economies coupled with favorable government policies substantially enhance demand. For instance, India’s Pradhan Mantri Matsya Sampada Yojana (PMMSY) aims to increase fish production by 7 million MT and exports by USD 12 Billion by FY 2025. Such initiatives foster investments in modern aquaculture techniques, disease management, and sustainable farming, propelling the market expansion.
Technological advancements in aquaculture strongly support market growth. Innovations such as recirculating aquaculture systems (RAS) improve efficiency and allow year-round salmon farming, increasing yield and reducing environmental impacts. A notable example is Multigen Akva’s modular RAS launched in Norway in 2024, which features zero-emissions technology and advanced water purification, mitigating pollution and antibiotic misuse while enhancing production capacity and appealing to eco-conscious consumers.
The market growth is also driven by the expanding presence of seafood retail chains and restaurants worldwide. Higher per capita fish consumption—growing at 4.05% annually over the past 15 years—supports increased salmon availability. Retailers and food services offer diverse salmon dishes and convenient meal options, including ready-to-eat and delivery services. This broadens consumer access, raises product awareness, and contributes to global demand growth for salmon products.
Market Segmentation
By Type:
- Farmed: Raised in controlled aquaculture environments, farmed salmon offers consistent year-round supply, improved yields through technological innovations like RAS, adherence to food safety standards, and the ability to meet evolving market demands with specific quality traits.
- Wild Captured: Not explicitly described in detail in source.
By Species:
- Atlantic: With 63.7% market share in 2024, Atlantic salmon is versatile with a mild flavor and tender texture, easily adaptable to aquaculture, widely marketed as a high-quality yet affordable option.
- Pink: Not detailed in source.
- Chum/Dog: Not detailed in source.
- Coho: Not detailed in source.
- Sockeye: Not detailed in source.
- Others: Not detailed in source.
By End Product Type:
- Frozen: Leading segment with 58.3% share in 2024, frozen salmon preserves nutrition and taste, offers longer shelf life, convenience, reduces spoilage and logistical costs, enabling wider market reach.
- Fresh: Not detailed in source.
- Canned: Not detailed in source.
- Others: Not detailed in source.
By Distribution Channel:
- Foodservice: Holding 66.6% market share in 2024, foodservice demand is driven by salmon’s versatility in preparation, dining convenience, economies of scale, and the rise of food delivery services.
- Retail: Not detailed in source.
Regional Insights
The European Union leads the salmon consumption market with over 46.3% share in 2024. This dominance stems from a strong cultural affinity for seafood, comprehensive aquaculture infrastructure, and government initiatives promoting sustainable fisheries. The region benefits from proximity to major producers such as Norway and Scotland, established trade routes, high consumer disposable income, and stringent quality regulations. These factors collectively foster high demand for both sustainably farmed and wild-caught salmon, maintaining the EU’s leading position globally.
Recent Developments & News
In February 2025, Salmon Evolution partnered with Lofotprodukt to launch Norway’s first smoked salmon from a land-based facility under the premium Lofoten brand, available in select supermarkets. The same month, Pan Ocean Aquaculture announced plans to develop a salmon-producing vessel with a fully enclosed aquaculture system for ocean farming. In July 2024, Captain Fresh acquired Polish branded salmon product company Koral, strengthening its position in the USD 33.5 Billion global salmon industry. March 2024 saw a collaborative effort in Chile among salmon farmers and authorities to improve vaccine availability, reduce antibiotic use, and support sustainable farming practices.
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.)
Get Custom Market Research Report for Your Business:
https://www.imarcgroup.com/request?type=report&id=974&flag=E
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us
IMARC Group,
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No: (D) +91 120 433 0800
United States: +1-201971-6302
