The global salmon fish market size is expected to reach USD 35.50 billion by 2032, according to a new study by Polaris Market Research. The report “Salmon Fish Market Share, Size, Trends, Industry Analysis Report, By Species (Atlantic/Aquaculture and Pacific); By Form; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
With the rise in health consciousness and continuously growing obesity among the global population, consumers are becoming highly focused on adding nutritional-rich food products to their daily diets, which results in high demand for salmon fish around the world. In the last few years, there have been numerous technological advancements and innovations in the production and farming techniques that are being undertaken by key market companies along with the growing surge and emergence of various online channels for the purchase of ready-to-eat salmon products is contributing to the market growth positively.
For instance, a wide range of Japanese companies is heavily focusing on the development of high-tech solutions to solve problems, that are being faced in fishing and aquaculture with the help of using artificial intelligence, robots, and many others. As of now, Blue Ocean Research Institute, based in Saitama Prefecture, said it has developed a buoy system that helps to monitor environmental information like water quality, flow, and ocean weather in real-time.
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Furthermore, Chile and Norway’s salmon farming industry has achieved very prospective results, as production costs have declined, biological conditions at farms have significantly improved, and reflected in comparatively higher harvests. This is mainly fueling the efforts for the development of new approaches to farming, especially on closed containment technologies at both land and sea. Additionally, various new aquaculture operations are being set up in a large number of geographical countries like Iceland, China, and the Russian Federation which is likely to augment the salmon supply and demand over the coming years.
According to the U.S. Department of Agriculture, salmon is Chile’s largest food and agricultural export and second largest in the total export sector after copper with export of 615,000 metric tons worth about USD 4.8 billion last year. Chile’s salmon production is growing rapidly at a rate of over 10.4% and is likely to grow further soon.
Salmon Fish Market Report Highlights
Polaris Market Research has segmented the salmon fish market report based on species, form, and region:
Salmon Fish, Species Outlook (Revenue - USD Billion, 2019 - 2032)
Salmon Fish, Form Outlook (Revenue - USD Billion, 2019 - 2032)
Salmon Fish, Regional Outlook (Revenue - USD Billion, 2019 - 2032)