What is Salmon?
Salmon are the fish from the fish family of Salmonidae. The fish offers rich nutritional aspects such as protein, vitamin b, omega 3 fatty acids, potassium and selenium. The fish is native to North American waters and Pacific Ocean, though now it is farmed all around the world, even places away from its native region. The salmon fish hatches as well as reproduces in fresh water and then migrates to ocean. Fat of the Salmon fish gives it a very rich flavour, thus making it popular around the world. Rising global population as well as globalisation linked with exchange of salmon rich cuisines such as sashimi and sushi has led to significant growth of the salmon fish. Although, climate change as well as over fishing has drastically affected to ecosystem of Salmons, thus even hampering their breeding cycles. But, modern aquaculture techniques promise exciting opportunities with modern salmon fish farms. This could help aid in both sustainability goals as well as meeting the global rising demand of salmon fish. Geographically, North America accounts for largest market of the salmon fish, with both Atlantic salmon and pink salmon being most popular species.
The market study is broken down and major geographies with country level break-up.
Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Mowi ASA (Norway), Cermaq Group AS (Norway), Lerøy Seafood Group ASA (Norway), SalMar ASA (Norway), Kyokuyo Co., Ltd. (Japan), Nippon Suisan Kaisha (Japan), Maruha Nichiro Corporation (Japan), Thai Union Group (Thailand), Cooke Aquaculture Inc. (Canada) and Trident Seafoods (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Indepesca Overseas Pvt. Ltd. (India), Golden Prize (India) and Shanghai Fisheries General Corp. (China).
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Salmon market by Type, Application and Region.
On the basis of geography, the market of Salmon has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online {E-Commerce Stores} will boost the Salmon market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Offering , the sub-segment i.e. Frozen will boost the Salmon market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service Type, the sub-segment i.e. Atlantic will boost the Salmon market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Source, the sub-segment i.e. Farmland will boost the Salmon market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Packaging , the sub-segment i.e. Plastic Packets will boost the Salmon market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In 2020, Grieg Seafood ASA, a Norway based international seafood company specialised in Atlantic salmon and trout has announced signing of Share Purchase Agreements Grieg Newfoundland AS, which is an exclusive salmon farming company based in Canada. With the annual harvest potential of 30 000 – 45 000 tonnes Atlantic salmon. The acquisition will help Grieg Seafood to target the largest and fastest growing Atlantic salmon market that is North America.
In 2020, Sealord Group Ltd., a New Zealand based seafood producer and supplier has announced acquisition of 50% shareholding of Tasmania-Australian salmon producer, Petuna Aquaculture. Both the companies have shared a good relationship since 2010 when both the companies first stared a joint venture. The acquisition will bolster the Sealord Group’s Salmon and ocean Trout capabilities, due to combined synergies of both the companies.
Market Trend
- Canned Salmon is rising in Popularity
Market Drivers
- Increasing Population around the World
- Rapid Urbanisation has led Change in Taste Preferences and Thus Risen the Demand for Salmon Fish
- Rise of Globalisation has led to Spread of Cuisines such as Sashimi and Sushi which have Rich Salmon Content
Opportunities
- Modern Aquaculture Techniques can help meet both Rising Salmon Demand as well as Meet Sustainability and Ecological Goals
Restraints
- Climate Change is leading to Change in Breeding Patterns Affecting the Population of Wild Salmon
Challenges
- The Cost of Salmon Farming is on a Rise Globally
Key Target Audience
Salmon Producers, Suppliers and Distributors, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Analysts and Strategic Business Planners, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.