With High Nutritional Value and Health Benefits, the Market Sales of Salmon Are Expected to Continue to Rise

Salmon is one of the more commonly used fish ingredients in Western food. The salmon body is flat, the back is raised, the teeth are sharp, the scales are small, silver gray, and the spawning period has orange stripes.? Salmon meat is dense and delicious, pink and elastic.?

Salmon is rich in unsaturated fatty acids, which can effectively reduce blood lipids and blood cholesterol and prevent cardiovascular diseases. Two meals a week can reduce the probability of death from heart attacks by one-third. Salmon contains a substance called astaxanthin, which is a very powerful antioxidant, and its omega-3 fatty acids are essential substances for the brain, retina and nervous system, which can enhance brain function, prevent Alzheimer's disease and prevent vision loss. In addition, salmon can effectively prevent the occurrence and development of chronic diseases such as diabetes and has high nutritional value, so it enjoys the reputation of "treasure in water".?

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Salmon can be divided into two categories, farmed and wild, depending on how they are bred. Farmed salmon now accounts for the larger market, with the global farmed salmon market valued at $16,540.74 million in 2019, compared with $10,838.50 million for wild salmon. With the continuous improvement of farming technology, the global salmon production is still on the rise. In terms of marketing channels, 54.74% of salmon are sold to the catering industry and 45.26% are sold through other channels.

The Global Salmon Market Has a High Regional Concentration?

Studies show that Europe is the world's largest market for salmon by revenue, accounting for more than half of the global market value. In 2019, the European salmon market was valued at $14,145.14 million, accounting for 50.86% of the global market. The share of the region is expected to continue to rise in the future, reaching 51.66% by 2025. The Americas ranked second with a 29.04% share. The Asia-Pacific region accounted for 16.18%, ranking third; The salmon market in other regions is very small, with a market share of only 3.92%. It can be seen that the regional concentration of global salmon market is high.?

Salmon production in Norway and Chile surged in the first half of 2019, sending farmed salmon prices down through the summer of 2019.? Farmed salmon prices have since reversed course, rising to near all-time highs, driven by rising demand from traditional consumer markets as well as emerging markets such as China.?

Wild salmon fishing seasons in Alaska, the United States, and Kamchatka, Russia, typically end in late summer, and total catches in 2019 were 13 percent lower than in 2018 and 4 percent lower than in 2017.? The main reason is that salmon catches have been lower than expected.? In late 2019, research from Canada reported that a record number of wild salmon had been caught in the Arctic Circle.? Researchers say warmer water temperatures are changing fish migration patterns, with more wild salmon migrating toward the Arctic.

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With High Nutritional Value and Health Benefits, the Market Sales of Salmon Are Expected to Continue to Rise

The data show that in 2015, the global salmon market value was $20,050.84 million, and since then it has increased steadily year by year to $27,379.24 million by 2019, registering a compound annual growth rate (CAGR) of 8.10% in market value from 2015 to 2019.?

Salmon is low in saturated fat but rich in nutrients such as protein, calcium, vitamins B3 and D, zinc, iodine, cholesterol and omega-3 fatty acids.? Regular consumption helps reduce inflammation, lower blood pressure, reduce cancer risk, and improve the function of cells lining arteries.? Because of these health benefits, it is used in grilling, roasting, poaching, curing and baking and in the preparation of various dishes. On top of that, salmon is also high in omega-3 fats, EPA and DHA, making it a popular food for health-conscious consumers because of its beneficial effects on reducing the risk of heart disease, diabetes and obesity.? It can be said that all the advantages of salmon have been a driving force for the development of the industry, which has had a beneficial impact on the industry.

Huge advances in farming technology have driven the expansion of the global salmon market over the past decade. The global population is growing at an unprecedented rate, leading to an increase in the consumption of high-quality protein, which is also expected to drive the market. Organic salmon is also receiving increasing attention from global health authorities, which is expected to drive up sales worldwide.?

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On the other hand, people's health awareness is increasing day by day, and personal consumption patterns have also changed. Efforts have been made to eliminate or reduce carbohydrate-rich foods from the diet and increase the consumption of protein-rich foods. As a result, more and more people are using salmon to make pasta, salads, burgers, tartar sauce and other parts of their daily diet. In addition to this, salmon producers have introduced a large number of value-added products such as canned salmon, frozen salmon, smoked salmon, dried salmon, salmon oil and salmon sauce. In addition, the increasing working population, coupled with the busy schedules of individuals, has increased the sales of ready-to-eat and easy-to-cook foods. At the same time, the growth of the conveniently packaged and easily accessible frozen and canned salmon market is having a positive impact on the development of the industry and is expected to drive the growth of the market in the coming years.? The global salmon market is expected to grow to $35,467.36 million by 2025.

However, salmon, like other fish and seafood, cannot be kept for a long time. Fresh salmon can be kept in the refrigerator for up to two days. Its perishable nature will affect the growth of the market to some extent.? Moreover, in the short term, adjusting production levels is difficult and expensive because of the three-year production cycle. As a result, supply is very inelastic in the short run, while demand also changes seasonally, which can also dampen market growth.