Global Research And Market Analysis On Salmon - FoodResearchLab

GLOBAL RESEARCH AND MARKET ANALYSIS ON SALMON

TODAY'S DISCUSSION

Introduction

Market Trends

Factors affecting the growth

Challenge for Salmon market

INTRODUCTION

Salmon has been one of the most consumed fishes since historic times. The pale pink flesh is their trademark feature. The aquatic beings are found extensively along the Atlantic and Pacific oceans. Based on availability, they can be wild or farmed. Salmon is a powerhouse of nutrients. The wild variety has a higher proportion of nutrients than the farmed one. They are rich in omega-3 fatty acids that benefit heart and brain health and reduce inflammation. Vitamin B-12 is also abundant, which is necessary for the production red blood cells and nervous system regulation. Vitamin A helps in good vision and healthy skin, while vitamin D is crucial for bone health. Minerals like selenium help regulate thyroid function and the presence of potassium assists in lowering blood pressure.

Fig: Salmon is a powerhouse of nutrients

MARKET TRENDS

The global salmon market was priced at US $ 14 . 87 billion in 2021 and is anticipated to r ise at a Compound Annual Growth Rate ( CAGR) of 8 . 5 % from 2022 to 2030 . Some factors could lead to this r ise.

FACTORS AFFECTING THE GROWTH

1 . Versatility - Salmon fish is highly versatile and have a less fishy taste than other variants, such as mackerel. I t can be steamed, grilled or sauteed. I t is also consumed raw in sushi and sashmi, rendering i t a popular choice for consumption.

2 . Increasing awareness of the people - Versatility, along with an increasing awareness of the protein- r ich food.

health market. People' s dietary

benefitsof Salmon, led choices have shifted to the growth of Salmon from carbohydrate- r ich to

3 . Increase in availability of Salmon - The expansion of the food industr y and increased availability of product forms l ike freeze- dried and ready- to- eat have skyrocketed the growth of the salmon market.

4.Demand for omega-3 capsules- During COVID-19 times, there was an increasing demand for omega-3 supplements since there was an increased burden of depression reported among younger individuals, and this fatty acid is known to manage symptoms of depression. This caused a noticeable increase in the demand and consumption of Salmon, for salmon oil capsules are among the most common omega-3 oil sources.

5. Other factors causing a rise in Salmon market-

- Increased purchasing power of consumers

- Interest in consuming other cuisine, especially Asian cuisine.

- Emigration of Asians to the US.

-Increase in fish farming has led to an increase in the supply of Salmon fish.

CHALLENGE FOR SALMON MARKET

A significant challenge in popularity of veganism.

the salmon market is the r ise in numbers and People choose to be vegan due to health, environment and ethical reasons. In the UK alone, the numbers rose from 0 . 28 million in 2022 to 0 . 6 million in 2020 . [ 6 ] However, Salmon still continues to be extensively farmed and consumed due to the high demand for i ts nutritional profile

CONCLUSION

Salmon is a versatile fish renowned for its flavour and nutritional value. Many factors cause an increase in the salmon market, like an increase in the knowledge of its nutritional value. Innovations in the development of food products can help bolster the salmon market.

Pepgra's Food Research Lab has expertise in developing new minimally processed yet delectable recipes, giving importance to taste and nutrition. In addition, we can assist in the formulation of Salmon based food products like sauces that find their use in a plethora of food items. In the case of frozen Salmon, we assist in developing packaging that extends the shelf-life duration to yield its maximum benefits.