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Increasing Fast-Casual Restaurants Support the Global Salmon Fish Market

Date: 30th Jun 2020 | Category: Food & Beverage

Salmon fish is one of the most popular seafood, which is widely consumed by the people all around the world. This fish species is highly rich in protein and provides some of the essential nutrients which are associated with a healthy profile in customers and therefore, considered as one of the functional food. 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 a 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, the market growth would be challenged by growing carbon dioxide emission 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 the significant decline in the demand for salmon fish, impacting the growth of the market globally.

Scope of the report:

• The report provides a comprehensive analysis of the global salmon fish market with potential impact of COVID-19. 

• The major regional markets (Norway, Chile, the U.K., Canada) have been analyzed.

• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth. 

• The competitive landscape of the market, along with the company profiles of leading players (Mowi ASA, Austevoll Seafood ASA (Lerøy Seafood Group ASA), SalMar ASA, Grieg Seafood ASA, Bakkafrost P/F and Norway Royal Salmon ASA) are also presented in detail.

Key Target Audience:

• Salmon Fish Harvesters

• Salmon Fish & Sea Food Suppliers

• End Users (Food industry, Supplement Industry, Retailers, etc.)

• Research Institutes & Organizations

• Government Bodies & Regulating Authorities