United States Salmon Market

United States Salmon Market:

The United States salmon market size reached US$ 1,430.2 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,950.9 Million by 2032, exhibiting a growth rate (CAGR) of 3.4% during 2024-2032. The rising health consciousness, escalating seafood consumption, expansion of distribution channels, and introduction ready-to-eat food are primarily driving the market's growth.

United States Salmon Market Analysis:

• Major Market Drivers: The extensive import of Pacific salmon into the country is one of the key factors driving the market's growth. Moreover, the growing demand for other salmon species, such as sockeye, chum, coho, and chinook, is also propelling the market's demand.
• Key Market Trends: With the changing dietary habits, sedentary lifestyles and increasing awareness about health and wellness, there has been an increase in per capita salmon consumption, thereby escalating the market's growth. Moreover, advances in aquaculture technology and practices have improved the efficiency and yield of salmon farming, acting as another growth-inducing factor.
• Competitive Landscape: The United States salmon market analysis report has also provided a comprehensive analysis of the competitive landscape in the market. Also, detailed profiles of all major companies have been provided.
• Geographical Trends: According to the United States salmon market dynamics, West exhibits a clear dominance in the market. The Western United States, particularly states like California and Washington, has a high concentration of health-conscious consumers who are more likely to seek out nutritious foods like salmon. The emphasis on healthy eating in these states drives higher demand. 
• Challenges and Opportunities: The rising sustainability concerns and fluctuating prices of salmon are hampering the market's growth. However, the rising awareness of the health benefits of omega-3 fatty acids found in salmon boosts demand for the product.

United States Salmon Market Trends:

Increasing Health Consciousness

The growing health consciousness is a significant driver of the United States salmon market growth. Salmon is renowned for its high content of omega-3 fatty acids, which are linked to various health benefits, including improved heart health, reduced inflammation, and better brain function. For instance, according to an article published by Healthline, salmon is abundant in selenium, an essential nutrient involved in DNA synthesis, thyroid hormone metabolism, and reproductive health. It's also a good source of omega-3 fatty acids, a type of heart-healthy fat that can reduce inflammation and improve brain health. As consumers become more aware of these benefits, they are increasingly incorporating salmon into their diets. These factors are further contributing to the United States salmon market share.

Rising Seafood Consumption

Rising seafood consumption is a significant driver of growth in the United States salmon market. For instance, according to the U.S. Department of Agriculture, U.S. residents consumed an average of 20.5 pounds of seafood. Rising awareness of the health benefits associated with seafood consumption, such as improved heart health and reduced inflammation, has led to greater consumer demand for salmon. For instance, salmon ranked second again in 2021, with 3.38 pounds consumed per capita, a nearly 0.55-pound increase in the United States. These factors further positively influence the United States salmon market forecast.

Product Innovations

The development of value-added products such as smoked salmon, salmon fillets, and ready-to-cook meals caters to changing consumer preferences and convenience needs, boosting overall market growth. For instance, in March 2024, Multi X introduced two new products: Latitude 45 Smoked Salmon Candy Bites and Smoked Chipotle Salmon at Seafood Expo North America (SENA) in the U.S. market. Latitude 45 Smoked Salmon Candy Bites and Smoked Chipotle Salmon provide consumers with a ready-to-eat hot smoked product that encourages home cooks with familiar sweet and spicy flavor combinations. These factors are augmenting the United States salmon market growth.

United States Salmon Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the United States salmon market report, along with forecasts at the country and regional levels from 2024-2032. Our report has categorized the market based on type, species, end product type, and distribution channel.

Breakup by Type:

• Farmed
• Wild Captured
   

Wild captured holds the majority of the total market share

The report has provided a detailed breakup and analysis of the market based on the type. This includes farmed and wild captured. According to the report, wild captured holds the majority of the total market share.

According to the United States salmon market outlook, wild-captured salmon is often perceived as having a superior nutritional profile compared to farmed salmon, with potentially higher levels of omega-3 fatty acids and lower fat content due to its natural diet and habitat. Moreover, many consumers prefer wild-caught salmon because it is seen as more environmentally friendly compared to some forms of aquaculture. Concerns about overfishing and the ecological impact of farmed salmon can drive demand for wild-caught options. Apart from this, some consumers believe that wild-caught salmon is less likely to be exposed to antibiotics, hormones, or other additives that can be used in farmed salmon production. This perception drives the preference for wild-caught salmon as a cleaner, more natural choice.

Breakup by Species:

• Atlantic
• Pink
• Chum/Dog
• Coho
• Sockeye
• Others
   

Currently, pink exhibits a clear dominance in the market

A detailed breakup and analysis of the market based on the species has also been provided in the report. This includes Atlantic, pink, chum/dog, coho, sockeye, and others. According to the report, pink exhibits a clear dominance in the market.

According to the United States salmon market overview, pink salmon is typically less expensive than other types of salmon. This affordability makes it an attractive option for budget-conscious consumers and helps drive its demand, especially in value-focused markets. Moreover, it is commonly processed into canned and frozen products, which are convenient and have a longer shelf life. These products are popular in households, restaurants, and food service due to their practicality and lower cost. Besides this, the versatility of pink salmon in various recipes, including salads, sandwiches, and pasta dishes, contributes to its widespread use and demand in prepared foods.

Breakup by End Product Type:

• Frozen
• Fresh
• Canned
• Others
   

Fresh currently accounts for the largest market share

A detailed breakup and analysis of the market based on the end product type has also been provided in the United States salmon market report. This includes frozen, fresh, canned, and others. According to the report, fresh accounts for the largest market share.

Fresh salmon is valued for its high content of omega-3 fatty acids, high-quality protein, and essential vitamins. As health consciousness grows, consumers increasingly seek out fresh salmon as a healthy dietary option. Moreover, the rise in interest in gourmet cooking and home meal preparation boosts the demand for fresh, high-quality ingredients like salmon. Its versatility in recipes—from grilling and baking to sushi and salads—makes it a popular choice among home cooks and professional chefs.

Breakup by Distribution Channel:

• Foodservice
• Retail
   

Currently, the retail sector exhibits a clear dominance in the market

A detailed breakup and analysis of the market based on the distribution channel has also been provided in the report. This includes foodservice and retail. According to the report, the retail sector exhibits a clear dominance in the market.

Consumers are increasingly aware of the health benefits associated with salmon, including its high levels of omega-3 fatty acids, protein, and vitamins. This growing health consciousness drives demand for salmon in retail settings. Moreover, retailers offer a wide range of salmon products, including fresh, frozen, smoked, and prepared options. This variety caters to different consumer preferences and convenience needs. Besides this, retailers use various marketing strategies, including in-store promotions, discounts, and educational campaigns, to highlight the benefits of salmon and attract customers.

Breakup by Region:

• Northeast
• Midwest
• South
• West
   

West currently dominates the United States salmon market

The report has also provided a comprehensive analysis of all the major regional markets, which include Northeast, Midwest, South, and West. According to the report, West dominates the United States salmon market.

According to the United States salmon market statistics, the West Coast, particularly states like Alaska, Washington, Oregon, and California, has a direct connection to major salmon fisheries. This proximity often means fresher salmon and a strong local market for both wild-caught and farmed salmon. Moreover, the West Coast has a rich seafood culture, with salmon being a prominent component in local cuisines. This includes traditional dishes from indigenous cultures, as well as contemporary recipes popularized in the region.

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

United States Salmon Market News:

• March 2024: Multi X introduced two new products: Latitude 45 Smoked Salmon Candy Bites and Smoked Chipotle Salmon at Seafood Expo North America (SENA) the U.S. market.
• January 2024: King Oscar, the famed Norwegian seafood producer, launched a new range of skinless and boneless Atlantic salmon in Extra Virgin Olive Oil in the United States.
• January 2024: Acme Smoked Fish, a smoked salmon provider based in Brooklyn, New York, U.S.A., opened a facility in the state of Florida to meet rising demand in the Southeast United States.

United States Salmon Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the United States salmon market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the United States salmon market.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the United States salmon industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.