Global Smoked Salmon Market Competition: Europe is the Largest Consuming Market with a Share of 82.15% in 2023

Global Smoked Salmon Market Overview

According to Global Market Monitor, the global smoked salmon market size will be $5841.09 million in 2024 with a CAGR of 5.19% from 2024 to 2029.

Smoked salmon is a preparation of salmon, typically a fillet that has been cured and hot or cold smoked. Due to its moderately high price, smoked salmon is considered a delicacy. Low-temperature smoked salmon has a larger market share due to its excellent taste and rich nutrition. Smoked salmon is widely used in the food service industry and is especially popular in high-end restaurants, where many diners serve it as a main course. It is also very common in the retail industry, and the salmon in the convenience store is generally ready to eat, which is very convenient.

Europe is the Largest Consuming Market of Smoked Salmon

Europe occupied the largest share of 82.15% in 2023. Asia Pacific, Eastern Europe, Africa, and Latin America have increased disposable income and increased working-class numbers. The integration of this product has benefited a lot from restaurants and hotels in Japan, China, Australia, New Zealand, and other countries. In addition, due to the convenience of processing seafood in RTE packaging, product demand has also increased.

North America and Europe have also boosted the smoked salmon market with extensive financial support. Several countries in both regions have high incomes. In the US, UK, France, Denmark, Spain, Germany, etc., these countries spend a lot of money to upgrade their equipment and strengthen the smoked salmon market. These factors have stimulated the demand for smoked salmon to a certain extent, and the increase in demand has affected the fluctuation of prices.

Drivers and Challenges

In addition to increasing demand for processed foods, the increase in online retail and organized retail stores has also contributed to the growth of the global market. These channels are increasing supplier profitability and increasing sales, thereby driving up the global supply of smoked salmon and contributing to the growth of the global smoked fish market, which affected the fluctuation of prices. Raw fish is marinated for some time and baked directly, usually in restaurants and hotels. However, as it becomes more popular, it also needs to be wrapped frequently. The smoked salmon market has also maintained active growth in the retail sector. The increase in supply has also affected prices.

As major manufacturers and suppliers in the smoked salmon industry compete globally, competition within the smoked salmon industry has intensified, with suppliers employing strategies such as price premiums to remain competitive in the market. The development of the smoked salmon industry is unbalanced. Some regions have formed a complete industrial chain with a large market share, while some regions do not have a mature and complete operation chain or a complete operation ecological chain, which is not conducive to the development of the industry.

Drivers	Rising demand for seafood has an impact on prices.
	The expansion of the online retail market has boosted production and affected prices
Challenges	The presence of sea lice hinders market growth and affects price fluctuations
	Fierce competition
	Uneven regional development

For more industry information, please refer to our latest released "2023 Global Smoked Salmon Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast".