Presently, the overall industry is experiencing growth with the ongoing research & development activities conducted by the key fish breeding corporations to improve their respective smolt (young salmon fish) harvest volume.
The global salmon fish market is expected to reach US$21.52 billion in 2024, witnessing growth at a CAGR of 7.72%, over the period 2020-2024.
The growth of the market is supported by factors such as growing population, increasing fast-casual restaurants, escalating smolt releases, growing tourism industry and rising healthcare awareness.
However, market growth would be challenged by growing carbon dioxide emissions and an outbreak of salmon induced disease.
To overcome the challenges in the market, a few notable trends like emerging salmon fish harvesting projects, accelerating demand for smoked salmon, mounting penetration of online food orders, increasing per capita consumption of fish and technological advancement are expected to boost the market in future.
The fastest-growing regional market was Europe owing to the decline in the occurrence rate of marine animal diseases such as Sea Lice, Pancreas Disease & Salmonid Rickettsial Septicaemia in key revenue contributing areas and high adoption of the recirculation aquaculture system by the seafood companies.
However, the sudden outbreak of COVID-19 has caused a major trade disruption worldwide, leading to a significant decline in the demand for salmon fish, impacting the growth of the market globally.
Austevoll Seafood (Lery Seafood Group)
Norway Royal Salmon
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