Salmon Market Report 2026

The salmon market size has grown strongly in recent years. It will grow from $30.6 billion in 2025 to $32.71 billion in 2026 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to expansion of global seafood consumption, growth of salmon aquaculture farming, rising awareness of omega-3 health benefits, development of international seafood trade, expansion of frozen seafood distribution.

The salmon market size is expected to see strong growth in the next few years. It will grow to $42.46 billion in 2030 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to increasing demand for premium seafood, rising focus on traceable aquaculture practices, expansion of online seafood retail, growing investments in sustainable fish farming, increasing adoption of advanced processing technologies. Major trends in the forecast period include increasing demand for sustainably sourced salmon, rising consumption of ready-to-eat salmon products, growing adoption of aquaculture technology, expansion of smoked and value-added salmon offerings, enhanced focus on cold chain optimization.

The expansion of the aquaculture industry is expected to drive the growth of the salmon market in the coming years. The aquaculture industry involves the cultivation of marine and freshwater species, including fish and aquatic plants, under controlled conditions. Growth in this sector is supported by increasing consumer demand for seafood, greater emphasis on sustainable food production practices, and continuous advancements in aquaculture technologies. Salmon plays a vital role within aquaculture due to its high economic value, strong nutritional profile, contribution to sustainable protein supply, and adaptability to modern farming methods. Its rising significance aligns with global efforts to promote sustainable food systems and healthier dietary habits. For example, in March 2024, according to the Australian Bureau of Agricultural and Resource Economics, an Australia-based government agency, aquaculture’s contribution to the total value of seafood production is projected to increase from 60% in 2023-24 to 64% by 2028-29, reaching a real value of $2.21 billion. Therefore, the growing aquaculture industry is contributing to the expansion of the salmon market.

Companies in the salmon market are increasingly developing innovative products such as smoked salmon spreads to diversify their offerings and respond to rising consumer demand for convenient and premium snack options. Smoked salmon spreads add value to the salmon market by offering consumers a flavorful, nutritious, and easy-to-consume product that supports healthy eating habits and encourages greater salmon consumption. For instance, in March 2024, Foppen Seafood, a Netherlands-based seafood processing company, introduced a new hot-smoked salmon spread designed for both lunch and snacking occasions. Made with 50% smoked salmon and mayonnaise, the product reflects the company’s focus on waste reduction while delivering unique flavors such as jalapeño and seaweed. These types of innovations address growing consumer interest in convenience and variety amid increasing competition and cost pressures in the market.

In May 2024, PANOS Brands LLC, a US-based consumer food products company, acquired The Santa Barbara Smokehouse for an undisclosed amount. This acquisition was intended to strengthen PANOS Brands’ portfolio of premium smoked salmon products across foodservice and retail channels. Through the transaction, the company aims to meet increasing demand for health-focused foods rich in protein and omega-3 fatty acids, enhance brand positioning, and strengthen collaboration with customers and distribution partners. The Santa Barbara Smokehouse is a US-based producer of smoked seafood products, including salmon, trout, and other fish.

Major companies operating in the salmon market are Agrosuper S.A., Mowi ASA, Australis Seafoods S.A., Lerøy Seafood Group ASA, Cermaq Group AS, SalMar ASA, Cooke Aquaculture Inc., P/F Bakkafrost, Salmones Camanchaca S.A., Grieg Seafood ASA, Multiexport Foods S.A., Blumar S.A., Tassal Operations Pty Ltd, Huon Aquaculture Group Pty Ltd, Invertec Pesquera Mar de Chiloé S.A., Bremnes Seashore AS, Sinkaberg-Hansen AS, Nordlaks Produkter AS, Nova Sea AS, AquaChile S.A.

Europe was the largest region in the salmon market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the salmon market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the salmon market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The salmon market consists of sales of smoked salmon, salmon fillets, salmon portions, salmon roe (caviar), salmon pate, salmon burgers, and salmon oil supplements. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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