Alaskan Salmon Market key Insights Based On Product Type, End-use and Regional Demand Till 2028

Published: Tue Jul 30 2019

Fish consumption has grown significantly in the past some decades, with shifting trends of healthy eating and ethical consumerism fueling the growth in the seafood sector. Furthermore, the growing traction for ready to eat food is pushing the sales of frozen Alaskan salmon, which provide rich in nutrition and high-quality food with enhanced color, flavor, and taste. The frozen Alaskan Salmon Market will proliferate in the forthcoming years on the back for the increased demand for instant food in the rapidly changing hectic lifestyles.

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Salmon are a type of fish that belong to the Salmonidae family. The consumption of Alaskan salmon is accelerating at a fast pace, as a single serving of this fish contains minimal salmon calories and high protein, omega-3 fatty acids, and vital vitamins and minerals. Several studies have shown that eating Alaskan salmon may offer numerous benefits, such as enhanced brain health, better vision, and strong bones. Growing awareness about the benefits of eating these fish is providing impetus to the growth in the Alaskan salmon market.

Growing concerns pertaining to the toxicity and contamination of farmed salmon, in addition to low amounts of certain nutrients make it paramount for the consumers to pick from a safe source. Consequently, the adoption of wild-caught Alaskan salmon, which is the least contaminated species, is growing over farmed ones. Wild-caught variants are anticipated to witness marked growth in the Alaskan salmon market.  With minimal to no toxins, wild-caught Alaskan salmon and other healthy wild salmon varieties are gaining traction among consumers who are seeking fish-based on a safe source. These factors are underpinning gains in the Alaskan salmon market.

Global Alaskan Salmon Market Overview

Commercial fishing is one of the major industries contributing to the economy of Alaska. Natives of Alaska have been harvesting salmons and various other fishes for centuries. Salmon are ray-finned fish in the family of salmonidae. The term salmon comes from Latin word salmo, emerged from salire, meaning "to leap". Alaskan salmon are highly preferred around the world owing to its better taste and high nutritional values. Alaskan salmon is exported to more than 120 countries worldwide. A positive outlook can be witnessed for Alaskan salmon market in the upcoming years.

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Fast-paced consumer lifestyle is generating needs for more convenience at cooking, which is prompting the rise in demand for frozen Alaskan salmons across the globe. Meanwhile, consumers are also becoming more critical about their health and food consumption habits. To address the consumer needs for healthy and convenient cooking methods, manufacturers are introducing frozen Alaskan salmon. Frozen ready meals promise the enhanced quality of the food, more nutrition, and better flavor, color and taste. Alaskan salmon are rich in omega-3s. According to the test conducted by USDA Nutrient Data Laboratory, wild sockeye salmon flesh contains more than 1.2 grams of EPA and DHA per 98 gm of serving exceeding the recommended value of 650 to 1000 mg of daily intake by 20%. Significant amount of EPA, DHA (and many other essential fatty acids) is present in each serving of Alaskan salmon and hence, attracting consumers around the world for its high nutritional values. Packaging plays a vital role in the Alaskan salmon fish industry, as it adds value to the product quality and its appearance. Implementing appropriate packaging solutions for Alaskan salmon fish can help in improving the shelf life of the Alaskan salmon fish, which further accelerates demand for Alaskan salmon fish. Robust growth for Alaskan salmon can be witnessed in the upcoming years but some factors might hamper the overall growth of the Alaskan salmon market. Alaskan salmon fish is exposed to the sun for extended period of time or in transport under unsuitable refrigeration, which increases the possibility of developing toxins. Concentrating on the nutritive values of a spoiled Alaskan salmon fish is certainly of no use. Dangerous pollutants lurking inside the fish muscle tissue proves as a threat to humans. Intake of these pollutants is likely to affect with the ability of human body to get away from harmful toxins. Consumption of contaminated fish reduces the effectiveness of the critical defense system in the human body. Also harsh environment, high winds, freezing water, seasonal darkness and high fatality rate are major challenges for fisherman which might, in turn, impede the overall growth of Alaskan salmon market.

Global Alaskan Salmon Market Segmentation

Global Alaskan salmon can be segmented on the basis of species, nature and sales channels. On the basis of species Alaskan salmon can be further segmented as King (Chinook) Alaskan Salmon, Sockeye (red) Alaskan salmon, Coho (silver) Alaskan salmon, Chum (Keta) Alaskan salmon, Pink (humpy) Alaskan salmon. Pink (humpy) Alaskan salmon leads in terms of market share followed by sockeye and keta Alaskan fish. On the basis of nature Alaskan salmon can be further segmented as Wild and farmed. Wild Alaskan salmon is mostly preferred due to less fat content compared to farmed fish. Also farmed fished are often exposed to many toxins, chemicals, and antibiotics affecting its overall demand. On the basis of sales channel, Alaskan salmon market can be further segmented as grocery store, hypermarkets & supermarkets, and online channels. Grocery store leads in terms of market share for global Alaskan salmon market whereas online channels is forecasted to register highest growth.

Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.

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