The global salmon market was valued at 3.7 Million Tons in 2024 with an expected growth to 4.8 Million Tons by 2033, exhibiting a CAGR of 3.0% during the forecast period 2025–2033. This growth is driven by rising seafood consumption, technological advancements in aquaculture, and increasing consumer demand for value-added salmon products. The European Union dominates the market by consumption, capturing over 46.3% of the share in 2024.
Study Assumption Years
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Base Year: 2024
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Historical Year/Period: 2019-2024
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Forecast Year/Period: 2025-2033
Salmon Market Key Takeaways
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The global salmon market size was 3.7 Million Tons in 2024.
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The market is projected to grow at a CAGR of 3.0% during 2025-2033.
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The forecast period is from 2025 to 2033.
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European Union dominates the market in consumption with over 46.3% share in 2024.
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Increasing investments in aquaculture technology and sustainable practices are boosting production.
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Technology innovations like recirculating aquaculture systems improve yield and fish quality.
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The food service segment leads with a 66.6% share, driven by demand in restaurants and food delivery.
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Market Growth Factors
Improved awareness of the health benefits of salmon, which is rich in omega-3s, proteins and vitamins, particularly among middle-aged and elderly consumers, is driving the market. As of 2023, almost 36% of US consumers reported choosing healthier foods contributing to increased salmon consumption for cardiovascular health and cognitive function. Public health campaigns and endorsements by health organizations have increased worldwide demand for the nutritious salmon.
Technologies like recirculating aquaculture systems (RAS) and improved feeds have made salmon farming increasingly efficient and sustainable. On 27 November 2024, Multigen Akva announced a scalable modular RAS system in Norway where ultrafiltration membranes remove viruses and bacteria, enabling salmon farming at sea without emissions by full recycling of water. These innovations also helped solve environmental problems and improved production yield, expanding the salmon market.
The rise in the number of seafood-based retail businesses and restaurants has seen global salmon consumption increase. Per capita fish consumption rose 81.43% from 4.9 kg in 1995 to 8.89 kg in 2010, at a CAGR of 4.05%. Salmon has become customarily available to the public through chains, local menus and food delivery apps. In Q4 2024, the online ordering services represented 16.4% of the total sales of salmon in the US, showing the growth of e-commerce in salmon consumption.
Market Segmentation
Analysis by Type:
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Farmed (75.51% share in 2024): Raised in controlled aquaculture for a stable, year-round supply, farmed salmon benefits from innovations like RAS and advanced feed, offering consistent quality and tailored nutritional profiles, driving segment growth.
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Wild Captured: Seasonally influenced and subject to environmental factors, with lower market share compared to farmed types.
Analysis by Species:
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Atlantic (63.7% share in 2024): Popular for its versatile, mild flavor and tender texture, Atlantic salmon is widely cultivated in aquaculture due to ease of breeding and market positioning as a high-quality yet reasonably priced product.
Analysis by End Product Type:
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Frozen (58.3% share in 2024): Frozen salmon retains nutritional quality and allows extended shelf life, facilitating longer storage and easier transport compared to fresh salmon. Its convenience and reduced perishability suit both consumers and foodservice providers.
Analysis by Distribution Channel:
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Foodservice (66.6% share in 2024): Dominates due to salmon’s adaptability in diverse cuisines and preparations, bulk procurement advantages, and expanded food delivery services offering convenience that fuels demand.
Regional Insights
The European Union leads salmon consumption with a 46.3% market share in 2024. High per capita seafood consumption, proximity to key producers like Norway and Scotland, strong government support for sustainable fisheries, and rising disposable incomes drive this dominance. The EU’s stringent safety regulations and consumer preference for premium and organic salmon underpin sustained market growth.
Recent Developments & News
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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 select Spar stores.
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February 2025: Dutch group Pan Ocean Aquaculture (POA) announced plans to develop a fully enclosed salmon-producing vessel.
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July 2024: Captain Fresh acquired Polish salmon product company Koral to strengthen its position in the USD 33.5 Billion global salmon industry.
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March 2024: In Chile, salmon farmers, industry bodies, and government agencies collaborated to enhance vaccine availability, reduce antibiotic use, and improve sustainable farming.
Key Players
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AquaChile S.A. (Agrosuper S.A.)
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Atlantic Sapphire
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Australis Seafoods
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Bakkafrost P/F
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BluGlacier, LLC
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Camanchaca S.A.
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Cermaq Group AS (Mitsubishi Corporation)
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Grieg Seafood ASA
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Lerøy Seafood Group ASA
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Mowi ASA
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SalMar ASA
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Tassal Group Limited (Cooke Aquaculture Inc.)
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