The Intensity of Competition Within the Smoked Salmon Industry Has Increased, and Europe is the Largest Consuming Market of Smoked Salmon

Smoked salmon is a preparation of salmon, typically a fillet that has been cured and hot or cold smoked. Due to its moderately high price, smoked salmon is considered a delicacy. Although the term lox is sometimes applied to smoked salmon, they are different products. There are two distinct types of smoked salmon: hot and cold. This doesn’t refer to the temperature at which the fish is served; it refers to the temperature of the smokehouse or oven. Both styles begin with fresh salmon and go through a three-part process: curing, drying, and smoking. Cold-smoked salmon is heated higher than 90°F, which results in a soft, pliable texture. Hot-smoked salmon is actually cooked at temperatures that get as high as 160°F. Hot smoked salmon has a full, smoky flavor and a firmer texture than cold-smoked salmon. This kind of smoking destroys the taste of salmon, and its nutrition loses in a certain extent. Usually, vitamins would completely lose with high temperature cooking for a long time. So, the cold-smoke salmon enjoys higher market share with its excellent taste and nutrition.

Request For Sample Copy: https://www.globalmarketmonitor.com/request.php?type=5&rid=853200

Europe is the Largest Consuming Market of Smoked Salmon

Since smoked salmon does not require significant preparation time, its popularity has been increasing. Asia Pacific, Eastern Europe, Africa, and Latin America have increased disposable income and increased working-class numbers. The integration of this product has benefited a lot from restaurants and hotels in Japan, China, Australia, New Zealand, and other countries. In addition, due to the convenience of processing seafood in RTE packaging, product demand has also increased.

North America and Europe have also boosted the smoked salmon market with extensive financial support. Several countries in both regions have high incomes. In the US, UK, France, Denmark, Spain, Germany, etc., these countries spend a lot of money to upgrade their equipment and strengthen the smoked salmon market. These factors have stimulated the demand for smoked salmon to a certain extent, and the increase in demand has affected the fluctuation of prices.

Europe was the largest revenue market with a market share of 84.68% in 2015 and 83.87% in 2020, an increase of -0.82%. In 2020, the North America market share was 9.07%, ranking second. 3. The industry concentrate rate is high. The top three companies are Mowi (Former Marine Harvest), Labeyrie, Trident Seafoods with the revenue market share of 19.21%, 8.20%, 5.98% in 2020.

Speak To Analyst: https://www.globalmarketmonitor.com/request.php?type=3&rid=853200

Global Smoked Salmon Market Development Trend

In addition to increasing demand for processed foods, the increase in online retail and organized retail stores have also contributed to the growth of the global market. These channels are increasing supplier profitability and increasing sales, thereby driving up the global supply of smoked salmon and contributing to the growth of the global smoked fish market, which affected the fluctuation of prices. Raw fish is marinated for a period of time and baked directly, usually in restaurants and hotels. However, as it becomes more popular, it also needs to be wrapped frequently. The smoked salmon market has also maintained active growth in the retail sector. The increase in supply has also had an effect on prices.

The global salmon farming industry has been struggling with the serious economic, animal welfare and ecological impacts of sea lice infestation, which has prevented salmon farming from realizing its true potential. And it could drive down the price of salmon. Sea lice (Lepeophtheirus salmon and Caligus genus) settle on their hosts as free-moving larvae, firmly attach to and feed on salmon. They cause physical harm and stress to fish and adversely affect growth and performance. Studies have shown that infecting ten to twelve lice10 can have fatal consequences. Lice forage by grazing on the surface of fish and swallowing mucus and skin. Large numbers of lice can quickly cause fins to fall off, severe scarring, secondary infections, and timely death. Severe intrusion can lead to secondary infections and mass deaths. Sea lice have been around for millions of years and have adapted well to salmon-dependent lives. They are difficult to control and can quickly build up resistance to the chemical treatments used to eradicate them. Sea lice are not harmful to humans, but even small-scale infestations can make salmon unmarketable. Therefore, this is one of the main factors holding prices back.

With major manufacturers and suppliers in the Smoked Salmon industry competing at globally, the intensity of competition within the Smoked Salmon industry has increased. The vendors may adopt strategies like price premiums to stay competitive in the market. Meanwhile, the local vendors in developing nations are providing tough competition to the global players based on product pricing. The fierce competition is not conducive to the sustainable development of the industry.

Ask For Customization: https://www.globalmarketmonitor.com/request.php?type=4&rid=853200

The development of Smoked Salmon industry is not balanced. Some regions have formed a complete industrial chain with a large market share, while some regions do not have mature and perfect operating chains or complete operating ecological chains, which is not conducive to the development of the industry. Some countries have backward economy and low level of science and technology, the standard of living is not high, either, making it difficult for the Smoked Salmon industry to develop.

According to our research, the Global Smoked Salmon market has a total revenue of 4001.16 M USD back in 2015, and increased to 4907.20 M USD in 2020. We made a series of functional calculation and deduced the past 5 year’s data with scientific model. Finally, we made the prediction that the value of Smoked Salmon markets can be 5938.00 M USD by 2025. The CAGR of Smoked Salmon is 3.89% from 2020 to 2025.