Dublin: The global salmon fish market is poised for significant growth, with projections estimating it will reach $36.31 billion by 2033, up from $18.09 billion in 2024. This growth is attributed to a compound annual growth rate (CAGR) of 8.05% between 2025 and 2033.
According to a “Salmon Fish Market Forecast by Form, Species, Distribution Channel, Countries and Company Analysis 2025-2033” report offered by ResearchAndMarkets, several factors are driving this expansion, including increasing demand for value-added salmon products, favourable government regulations, rising disposable incomes in emerging markets, and a general uptick in seafood consumption worldwide.
Due to their significant production, Europe, especially Norway and Scotland, dominates the world market for salmon seafood. Globally, the wealthy and health-conscious people import a lot of farmed salmon, especially from Scotland, Norway, and Chile. The fish is frequently eaten in upscale dining establishments, hotels, and, more and more, supermarkets and grocery shops.
Factors Driving Market Growth
Sustainability Concerns
As consumers become more aware of the environmental impact of their food choices, there is a notable shift towards sustainably sourced seafood. The demand for ethically sourced salmon has surged, prompting producers to innovate. For instance, Wild Planet Foods recently launched five new sustainably caught seafood products, including salmon options. This trend towards sustainability is supported by governmental initiatives and investments aimed at promoting sustainable fishing practices.
A notable example is the European Investment Bank’s approval of a $50 million investment in RE: OCEAN to establish Sweden’s first inland salmon fish farm in Saffle, Varmland. This facility aims to provide fresh, sustainable salmon directly to local markets and restaurants, reflecting a broader commitment to sustainable seafood production.
Innovations in aquaculture technology are also playing a crucial role in enhancing the efficiency and sustainability of salmon farming. Techniques such as improved fish feed and recirculating aquaculture systems (RAS) are not only increasing yields but also addressing environmental concerns like water pollution and antibiotic use. These advancements are making the industry more environmentally friendly, appealing to eco-conscious consumers and further driving market growth.
Expansion of Seafood Retail Chains
The proliferation of restaurants and retail chains specialising in seafood has significantly boosted the market. These establishments often feature diverse salmon-based dishes tailored to local tastes, thereby expanding the consumer base for salmon. The rise of online ordering and food delivery services has also made salmon more accessible, contributing to increased consumption.
Growing awareness of the health benefits associated with salmon consumption is another key factor propelling market growth. Salmon is rich in protein and Omega-3 fatty acids, which are linked to various health benefits including improved cardiovascular health and cognitive function. Public health initiatives have heightened consumer awareness regarding nutrition, leading many to prioritize healthier food options.
Regional Market Insights
North America
In the United States, the salmon fish market is experiencing steady growth fueled by rising demand for high-protein diets and increased awareness of Omega-3 benefits. While farmed salmon dominates the market, both wild-caught and farmed varieties are popular among consumers. The trend towards sustainable seafood sourcing is reshaping production methods across the country.
The US salmon business is expanding due in large part to rising fish consumption. The U.S. Department of Agriculture, for example, reports that Americans ate 20.5 pounds of fish on average. Consumer demand for salmon has increased as a result of growing awareness of the health advantages of eating seafood, including better heart health and decreased inflammation. In 2021, for example, salmon came in second place with 3.38 pounds consumed per person, a rise of over 0.55 pounds in the US. These elements also have a beneficial impact on the prognosis for the US salmon market.
Asia-Pacific
The Asia-Pacific region is witnessing rapid growth in the salmon market, particularly in China where urbanization and a burgeoning middle class are driving demand for high-quality protein sources. Imported farmed salmon from countries like Scotland, Chile and Norway dominates this market segment. Recent collaborations between Chilean authorities and China have facilitated the export of Coho salmon to meet this rising demand.
The market for salmon fish in China is growing quickly due to factors like rising seafood consumption, growing health consciousness, and rising demand for high-quality protein sources. Although salmon has historically received less attention, the market has changed as more Chinese customers look for healthier options, such as fish high in omega-3 fatty acids. This demand is being driven by urbanisation, the expanding middle class, and shifting nutritional preferences. Salmon is also becoming more and more popular in upscale and foreign cuisine, which is driving market expansion. The market for salmon in China is expected to continue expanding as more people become aware of the health advantages of the fish.
Europe
Europe remains a dominant player in the global salmon market, with Norway and Scotland leading production efforts. Germany’s growing emphasis on health-conscious eating has led to increased consumption of both wild-caught and farmed salmon. The German market is also seeing a rise in demand for ready-to-eat products such as marinated or smoked salmon.
Although farmed salmon accounts for the majority of consumption, both wild-caught and farmed salmon are popular. The market has been impacted by Germany’s increasing emphasis on sustainably and ethically sourced fish, leading customers to select certified and environmentally friendly salmon. Supermarkets, seafood merchants, and eateries all carry the fish, and e-commerce platforms are seeing an increase in sales. Furthermore, there is a growing market for convenience and ready-to-eat salmon products, including marinated and smoked varieties. Germany’s salmon market is anticipated to keep growing as sustainable consumption and health trends gain traction.
Middle East
In the United Arab Emirates (UAE), there is a growing appetite for high-quality protein sources like salmon among affluent consumers. The culinary landscape in the UAE is diversifying, with an increasing number of upscale dining establishments incorporating salmon into their menus. The popularity of smoked and ready-to-eat salmon products is also on the rise.
The outlook for the global salmon fish market is robust as it navigates through evolving consumer preferences driven by sustainability concerns, technological advancements in aquaculture, and heightened awareness of health benefits associated with seafood consumption. With significant investments supporting sustainable practices and innovative product offerings entering the market, stakeholders across the supply chain—from producers to retailers—are well-positioned to capitalize on this growth trajectory over the coming years.
As consumers increasingly prioritize ethically sourced food options that align with their health goals, the demand for sustainable salmon will likely continue its upward trend, solidifying its place as a staple in diets around the world while ensuring environmental stewardship remains at the forefront of industry practices.
