Salmon
is the common term for fish belonging to the family of salmonidae. It
is derived from both farmed and wild sources; however, most of the
world’s salmon production is farmed and has increased significantly
over the last few years. Salmon aquaculture -industrial production of
salmon in a contained system, net cage, or pond - is a rapidly
growing food division. There has been a rising demand for canned
salmon across the globe owing to the various health benefits
associated with the consumption of this fish, resulting in augmented
production. For instance, salmon is regarded as an excellent source
of minerals, proteins, and fatty acids such as omega-3 and omega-6.
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The
practice of aquaculture in the production of Atlantic salmon is
gaining prominence, which is likely to drive the canned salmon market
over the forecast period. Land-based salmon aquaculture confines the
fish to indoor tanks and eliminates interaction between the farmed
fish and outside environment. Growing demand for seafood and fish
products is projected to be one of the key propellants of the canned
salmon market during the estimated period.
The
market has been segmented by product and distribution channel. Farmed
and wild canned salmon are two types of this product, with the former
having been the dominant segment in 2015 and expected to remain so
over the forecast period, due to the growth of salmon aquaculture.
Farmed canned salmon contains higher amounts of omega-3 and omega-6
and is therefore preferred to wild canned salmon.
Nevertheless,
salmon aquaculture also faces a variety of challenges such as attacks
by sea lice, diseases, and algae blooms. Based on distribution
channel, the canned salmon market is divided into the following
categories: convenience stores, supermarkets & hypermarkets, and
independent retailers. Convenience stores are anticipated to be the
leading segment over the forecast period, with most of the urban
population choosing to shop there and an increasing number of them
mushrooming in developed countries such as the UK, the U.S, and
Japan, thereby fuelling the global requirement for canned salmon.
Geographically,
the canned
salmon market is distributed over Europe, North America, Asia
Pacific, Latin America, and Middle East & Africa. Asia Pacific
accounted for and is projected to continue to constitute a major
share in the market. The surging population in this region is the
prime factor, apart from the escalating need for protein-rich diets
coupled with the rise in disposable income. China, Japan, and India
lead the canned salmon market owing to their huge contribution to the
overall population in Asia Pacific. North America and Europe exhibit
a steady demand for canned salmon due to the increasing awareness
about the health benefits of salmon consumption in these regions.
Middle East & Africa is an emerging market on account of the
growing adoption of canned salmon products here.
Key players in the market are Bumble Bee Foods, Austevoll Seafood ASA, Thai Frozen Products Company, and Marine Harvest. Others include Tassal Group, Beijing Princess Seafood International Trading, Empresas AquaChile, Dong Won Fisheries, Labeyrie Fine Foods, Mogster Group, Princes Group, and Sajo Industries.
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