Salmon is a fish variety belonging to the family of salmonoid. Globally, this fish variety is highly rich in protein and provides some of the essential nutrients associated with a nutritional profile in customers and, therefore, considered functional foods. Its routine consumption aids in calming inflammation, lowering blood pressure, minimizing the risk of developing cancer and improving the cells’ function that are padding the arteries. Additionally, it is used for grilling, broiling, poaching, pickling and roasting, and preparing a wide variety of dishes. According to Renub Research latest report, the Global Salmon Market is expected to reach US$ 46.8 Billion by 2026.
Salmon continues to consolidate its spot as the top seafood choice amongst global consumers. The global demand for salmon and its species has remained solid across both traditional and emerging markets. The market’s growth is boosted by factors such as growing population, increasing fast-casual restaurants, escalating smolt releases, growing tourism industry, and rising healthcare awareness. A few striking trends like emerging salmon fish harvesting projects, accelerating demand for smoked salmon, increasing per capita consumption of fish, and technological progression are being introduced to overcome the market’s challenges. Our study suggests that the Salmon Industry World over is expected to grow with a healthy CAGR of 7.39% during 2020 to 2026.
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COVID-19 Impact on Salmon Production
The COVID-19 pandemic has done partial damage to the global salmon fish market. The production volume has declined a bit in the year 2020, compared to 2019. In Chile, the salmon sector had to encounter various challenges correlated with social unrest in the last quarter of 2019; the COVID-19 outbreak has affected foreign trade. As per our research report, the Global Salmon Market Size was valued US$ 30.5 Billion in 2020.
The Market for Global Salmon Fish is moderately competitive, and major players are actively present globally. The industry’s competitive landscape has also been examined, with some of the key players like Sea trade, Atlantic Capes Fisheries, Inc, Atalanta Corporation, Ideal Foods Ltd, Sea Delights.
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