Recirculating Aquaculture system Farmed Salmon market is one of the fastest growing segments in the Aquaculture industry driven by its potential advantage of increasing the fish production by multi-folds using limited resources. Technological advancements in Recirculating Aquaculture system Farmed Salmon including denitrification reactors, sludge thickening technologies and ozone treatments supports water savings, reduced wastewater and energy efficiency. Ability to re-circulate water (50% to 95% circulation) through flow-through fish farm by diverting the water supply through tanks is increasingly used for farming salmon.
The fisheries and aquaculture production is expected to increase globally by 1.2 percent in 2022 (+2.6 percent for aquaculture and 0.2 percent for capture fisheries) to reach 184.1 million tonnes. In particular, the demand for Salmon is increasingly observed across countries, fuelling the demand for different farming mechanisms. RAS being eco-friendly, water efficient, highly productive intensive farming system, an increasing volume of farmers are shifting to the systems.
The growth of the salmon market is further propelled by various factors, including the strong expansion of global trade, increased availability of fish in farmed environment, competitive product pricing, rising personal incomes, and the ongoing trend of urbanization. Further, key features such as production methods, organic practices, product appearance, processing techniques, branding and certification, and taste are emphasized in marketing strategies.
This multifaceted approach ensures that RAS salmon meets the evolving preferences of consumers who are increasingly conscious of the origin, quality, and sustainability of their seafood choices. Overall, the global RAS farmed Salmon trout market is poised to register 12.4% CAGR between 2024 and 2032, driven by factors including nutritional awareness, adaptability, and economic viability. As the industry continues to evolve, RAS farmed salmon remains a prominent choice for both producers and consumers seeking sustainable, high-quality seafood options on a global scale.
The global fisheries and aquaculture production increased globally by 1.2 percent in 2022 (+2.6 percent for aquaculture and -0.2 percent for capture fisheries) to reach 184.1 million tonnes, according to the latest analysis in the FAO's Biannual food outlook. Salmon is a prominent species in aquaculture, benefiting from advancements in technology and sustainable practices. As the aquaculture industry expands to meet the increasing demand for seafood, salmon production is expected to follow suit, driving market growth.
In addition, initiatives promoting responsible and sustainable practices in aquaculture are widely observed. For example, the United Nations' Sustainable Development Goals (SDGs) emphasize sustainable food production, and various countries have implemented policies to regulate and support the aquaculture industry.
Leading companies are utilizing RAS technology in freshwater tanks to nurture the fish in a safe, sustainable way. AquaBounty, Bell Farms, and other companies are adopting vertical integration strategies to control various stages of production, from hatcheries to processing facilities. This integration helps streamline operations, improve quality control, and enhance traceability throughout the supply chain. By owning and managing multiple stages of the production cycle, companies can optimize processes, improve coordination, and ensure quality standards are met at each step. Vertical integration also facilitates better traceability and transparency within the supply chain.
Atlantic Salmon is one of the most widely consumed salmon species globally, with a significant market demand in North America, Europe, and Asia. Its mild flavor, firm texture, and versatile culinary applications contribute to its popularity. Atlantic Salmon is commonly farmed, with major producing countries including Norway, Chile, Scotland, and Canada.
The RAS farmed Atlantic Salmon market has experienced significant growth, driven by consumer preferences for sustainably sourced seafood and the advantages offered by RAS technology in terms of environmental sustainability, biosecurity, and product quality. The aquaculture industry plays a crucial role in meeting market demand. With consumers increasingly seek sustainably sourced Atlantic Salmon, increasing demand is observed for products certified by recognized organizations.
Food service establishments such as restaurants, catering companies, and hotels often prioritize high-quality ingredients, including seafood like RAS salmon. The controlled environment of RAS systems ensures consistent quality and freshness, making RAS salmon an attractive choice for chefs and menu planners. In addition, Institutions such as schools, hospitals, and corporate cafeterias prioritize health and nutrition in their food service offerings. RAS salmon, known for its omega-3 fatty acids content and nutrient profile, fits well into health-conscious menus, offering a flavorful and nutritious protein option.
Amidst rapidly increasing imports of Atlantic salmon to the US, companies are boosting investments in US land-based production of Atlantic salmon. To boost food security and reduce the current trade deficit associated with salmon imports, several government and private entities are focusing on strengthening RAS farmed salmon production. Farming fish locally to the market improves sales, reduces transportation costs, requires a smaller carbon footprint, improves traceability and product freshness, and supports the economy in local communities. Land-based salmon are likely to be a mainstream product in the next decade in the country.
On the consumption front, consumers are increasingly seeking healthier meat alternatives, and fish like salmon is a cost-effective source of lean protein and omega-3 fatty acids. Increased availability is encouraging fresh salmon to consistently outperform frozen and canned varieties, and its versatility in cooking methods broadens its appeal.
The industry is fragmented in nature and is characterized by the presence of both capital-intensive global players and medium-scale local companies. Leading companies in the industry include- Samherji fiskeldi hf, Danish Salmon A/S, Emirates AquaTech Ltd., Atlantic Sapphire AS, Pure Salmon Holding Ltd., Superior Fresh LLC, West Creek Aquaculture LLC, Cape Nordic Corporation Ltd., Nordic Aquafarms Inc., Sustainable Blue Inc., Andfjord Salmon AS, Kuterra Limited , AquaBounty Technologies, Inc., and others.
Pure Salmon is a land-based Atlantic salmon farming company with a vision to revolutionize the aquaculture industry. Pure Salmon Technology is a specialist in water treatment and has been a major contributor to revolutionizing land-based fish farming during the last 20 years, continuously focusing on fish welfare. As of June 2021, 8F Asset Management and Pure Salmon acquired Krüger Kaldnes. After the acquisition, the aquaculture division of the company was renamed Pure Salmon Technology. Pure Salmon grows, processes, and delivers the finest salmon. It meets the growing demand for authentic high-quality and locally produced salmon.
The import price per kilogram of salmon into the US has shown significant volatility over the past five years. In 2017, the price stood at $4.6/kg, followed by a notable increase to $5.9/kg in 2018. Further, a decrease to $5.2/kg in 2019, and a rebound to $6.05/Kg was observed in 2020. Further, owing to the COVID-19 pandemic, the price declined to $5.7/Kg in 2021. However, supply-demand fluctuations led to an increase to $6.4/Kg in 2022 and $6.7/kg in 2023. Further, we anticipate the market is poised to increase to $7/Kg in 2024.
|
Parameter |
Details |
|
Market Size (2024) |
$725.4 Million |
|
Market Size (2032) |
$1.85 Billion |
|
Market Growth Rate |
12.4% |
|
Largest Segment- Types |
Atlantic Salmon (86.8% Market Share) |
|
Largest Segment- Applications |
Food Services ($480 Million) |
|
Segments |
Types, Sizes, Sales Channels, Applications |
|
Study Period |
2018- 2023 and 2024-2032 |
|
Units |
Revenue (USD) |
|
Qualitative Analysis |
Porter’s Five Forces, SWOT Profile, Market Share, Scenario Forecasts, Market Ecosystem, Company Ranking, Market Dynamics, Industry Benchmarking |
|
Companies |
Samherji fiskeldi hf, Danish Salmon A/S, Emirates AquaTech Ltd., Atlantic Sapphire AS, Pure Salmon Holding Ltd., Superior Fresh LLC, West Creek Aquaculture LLC, Cape Nordic Corporation Ltd., Nordic Aquafarms Inc., Sustainable Blue Inc., Andfjord Salmon AS, Kuterra Limited , AquaBounty Technologies, Inc. |
|
Countries |
US, Canada, Mexico, Germany, France, Spain, Italy, UK, Russia, China, India, Japan, South Korea, Australia, South East Asia, Brazil, Argentina, Middle East, Africa |
Type
Applications
Countries Analyzed
Recirculating Aquaculture system Farmed Salmon Companies Profiled in the Study
*- List Not Exhaustive
About USD Analytics
Table of Contents
1. Executive Summary
What’s New in 2024?
Top 10 Takeaways from the Industry
Potential Opportunities for Industry Stakeholders
Strategic Imperatives
Company Market Positioning
Industry Benchmarking Matrix
2. Research Scope and Methodology
Market Definition
Market Segments
Companies Profiled
Research Methodology
Data Sources
Conversion Rates for USD
Abbreviations
3. Strategic Landscape: Key Insights and Implications
Spotlight: Key Strategies Opted by Business Leaders
Competitive Landscape
SWOT Analysis
Porter’s Five Force Analysis
Macro-Environmental Analysis
4. Growth Opportunity Analysis
Trends at a Glance
Market Dynamics
Key Industry Stakeholders
Regulatory Landscape
5. Market Size Outlook to 2032
Global Recirculating Aquaculture system Farmed Salmon Market Size Forecast, USD Million, 2018- 2032
Scenario Analysis
Pricing Analysis and Outlook
6. Historical Recirculating Aquaculture system Farmed Salmon Market Size by Segments, 2018- 2023
Key Statistics, 2024
Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, USD Million, 2018-2023
Growth Comparison (y-o-y) across Recirculating Aquaculture system Farmed Salmon Types, 2018-2023
Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, USD Million, 2018-2023
Growth Comparison (y-o-y) across Recirculating Aquaculture system Farmed Salmon Applications, 2018-2023
7. Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Segments, 2024- 2032
Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, USD Million, 2024-2032
Growth Comparison (y-o-y) across Recirculating Aquaculture system Farmed Salmon Types, 2024-2032
Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, USD Million, 2024-2032
Growth Comparison (y-o-y) across Recirculating Aquaculture system Farmed Salmon Applications, 2024-2032
8. Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Region
North America
Europe
Asia Pacific
South America
Middle East and Africa
9. United States Recirculating Aquaculture system Farmed Salmon Market Analysis and Outlook, 2021- 2032
Key Statistics
United States Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, 2021- 2032
United States Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, 2021- 2032
United States Recirculating Aquaculture system Farmed Salmon Market Size Outlook by End-User, 2021- 2032
10. Canada Recirculating Aquaculture system Farmed Salmon Market Analysis and Outlook, 2021- 2032
Key Statistics
Canada Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, 2021- 2032
Canada Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, 2021- 2032
Canada Recirculating Aquaculture system Farmed Salmon Market Size Outlook by End-User, 2021- 2032
11. Mexico Recirculating Aquaculture system Farmed Salmon Market Analysis and Outlook, 2021- 2032
Key Statistics
Mexico Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, 2021- 2032
Mexico Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, 2021- 2032
Mexico Recirculating Aquaculture system Farmed Salmon Market Size Outlook by End-User, 2021- 2032
12. Germany Recirculating Aquaculture system Farmed Salmon Market Analysis and Outlook, 2021- 2032
Key Statistics
Germany Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, 2021- 2032
Germany Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, 2021- 2032
Germany Recirculating Aquaculture system Farmed Salmon Market Size Outlook by End-User, 2021- 2032
13. France Recirculating Aquaculture system Farmed Salmon Market Analysis and Outlook, 2021- 2032
Key Statistics
France Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, 2021- 2032
France Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, 2021- 2032
France Recirculating Aquaculture system Farmed Salmon Market Size Outlook by End-User, 2021- 2032
14. United Kingdom Recirculating Aquaculture system Farmed Salmon Market Analysis and Outlook, 2021- 2032
Key Statistics
United Kingdom Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, 2021- 2032
United Kingdom Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, 2021- 2032
United Kingdom Recirculating Aquaculture system Farmed Salmon Market Size Outlook by End-User, 2021- 2032
15. Spain Recirculating Aquaculture system Farmed Salmon Market Analysis and Outlook, 2021- 2032
Key Statistics
Spain Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, 2021- 2032
Spain Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, 2021- 2032
Spain Recirculating Aquaculture system Farmed Salmon Market Size Outlook by End-User, 2021- 2032
16. Italy Recirculating Aquaculture system Farmed Salmon Market Analysis and Outlook, 2021- 2032
Key Statistics
Italy Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, 2021- 2032
Italy Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, 2021- 2032
Italy Recirculating Aquaculture system Farmed Salmon Market Size Outlook by End-User, 2021- 2032
17. Benelux Recirculating Aquaculture system Farmed Salmon Market Analysis and Outlook, 2021- 2032
Key Statistics
Benelux Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, 2021- 2032
Benelux Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, 2021- 2032
Benelux Recirculating Aquaculture system Farmed Salmon Market Size Outlook by End-User, 2021- 2032
18. Nordic Recirculating Aquaculture system Farmed Salmon Market Analysis and Outlook, 2021- 2032
Key Statistics
Nordic Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, 2021- 2032
Nordic Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, 2021- 2032
Nordic Recirculating Aquaculture system Farmed Salmon Market Size Outlook by End-User, 2021- 2032
19. Rest of Europe Recirculating Aquaculture system Farmed Salmon Market Analysis and Outlook, 2021- 2032
Key Statistics
Rest of Europe Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, 2021- 2032
Rest of Europe Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, 2021- 2032
Rest of Europe Recirculating Aquaculture system Farmed Salmon Market Size Outlook by End-User, 2021- 2032
20. China Recirculating Aquaculture system Farmed Salmon Market Analysis and Outlook, 2021- 2032
Key Statistics
China Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, 2021- 2032
China Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, 2021- 2032
China Recirculating Aquaculture system Farmed Salmon Market Size Outlook by End-User, 2021- 2032
21. India Recirculating Aquaculture system Farmed Salmon Market Analysis and Outlook, 2021- 2032
Key Statistics
India Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, 2021- 2032
India Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, 2021- 2032
India Recirculating Aquaculture system Farmed Salmon Market Size Outlook by End-User, 2021- 2032
22. Japan Recirculating Aquaculture system Farmed Salmon Market Analysis and Outlook, 2021- 2032
Key Statistics
Japan Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, 2021- 2032
Japan Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, 2021- 2032
Japan Recirculating Aquaculture system Farmed Salmon Market Size Outlook by End-User, 2021- 2032
23. South Korea Recirculating Aquaculture system Farmed Salmon Market Analysis and Outlook, 2021- 2032
Key Statistics
South Korea Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, 2021- 2032
South Korea Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, 2021- 2032
South Korea Recirculating Aquaculture system Farmed Salmon Market Size Outlook by End-User, 2021- 2032
24. Australia Recirculating Aquaculture system Farmed Salmon Market Analysis and Outlook, 2021- 2032
Key Statistics
Australia Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, 2021- 2032
Australia Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, 2021- 2032
Australia Recirculating Aquaculture system Farmed Salmon Market Size Outlook by End-User, 2021- 2032
25. South East Asia Recirculating Aquaculture system Farmed Salmon Market Analysis and Outlook, 2021- 2032
Key Statistics
South East Asia Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, 2021- 2032
South East Asia Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, 2021- 2032
South East Asia Recirculating Aquaculture system Farmed Salmon Market Size Outlook by End-User, 2021- 2032
26. Rest of Asia Pacific Recirculating Aquaculture system Farmed Salmon Market Analysis and Outlook, 2021- 2032
Key Statistics
Rest of Asia Pacific Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, 2021- 2032
Rest of Asia Pacific Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, 2021- 2032
Rest of Asia Pacific Recirculating Aquaculture system Farmed Salmon Market Size Outlook by End-User, 2021- 2032
27. Brazil Recirculating Aquaculture system Farmed Salmon Market Analysis and Outlook, 2021- 2032
Key Statistics
Brazil Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, 2021- 2032
Brazil Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, 2021- 2032
Brazil Recirculating Aquaculture system Farmed Salmon Market Size Outlook by End-User, 2021- 2032
28. Argentina Recirculating Aquaculture system Farmed Salmon Market Analysis and Outlook, 2021- 2032
Key Statistics
Argentina Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, 2021- 2032
Argentina Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, 2021- 2032
Argentina Recirculating Aquaculture system Farmed Salmon Market Size Outlook by End-User, 2021- 2032
29. Rest of South America Recirculating Aquaculture system Farmed Salmon Market Analysis and Outlook, 2021- 2032
Key Statistics
Rest of South America Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, 2021- 2032
Rest of South America Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, 2021- 2032
Rest of South America Recirculating Aquaculture system Farmed Salmon Market Size Outlook by End-User, 2021- 2032
30. United Arab Emirates Recirculating Aquaculture system Farmed Salmon Market Analysis and Outlook, 2021- 2032
Key Statistics
United Arab Emirates Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, 2021- 2032
United Arab Emirates Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, 2021- 2032
United Arab Emirates Recirculating Aquaculture system Farmed Salmon Market Size Outlook by End-User, 2021- 2032
31. Saudi Arabia Recirculating Aquaculture system Farmed Salmon Market Analysis and Outlook, 2021- 2032
Key Statistics
Saudi Arabia Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, 2021- 2032
Saudi Arabia Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, 2021- 2032
Saudi Arabia Recirculating Aquaculture system Farmed Salmon Market Size Outlook by End-User, 2021- 2032
32. Rest of Middle East Recirculating Aquaculture system Farmed Salmon Market Analysis and Outlook, 2021- 2032
Key Statistics
Rest of Middle East Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, 2021- 2032
Rest of Middle East Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, 2021- 2032
Rest of Middle East Recirculating Aquaculture system Farmed Salmon Market Size Outlook by End-User, 2021- 2032
33. South Africa Recirculating Aquaculture system Farmed Salmon Market Analysis and Outlook, 2021- 2032
Key Statistics
South Africa Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, 2021- 2032
South Africa Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, 2021- 2032
South Africa Recirculating Aquaculture system Farmed Salmon Market Size Outlook by End-User, 2021- 2032
34. Rest of Africa Recirculating Aquaculture system Farmed Salmon Market Analysis and Outlook, 2021- 2032
Key Statistics
Rest of Africa Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Type, 2021- 2032
Rest of Africa Recirculating Aquaculture system Farmed Salmon Market Size Outlook by Application, 2021- 2032
Rest of Africa Recirculating Aquaculture system Farmed Salmon Market Size Outlook by End-User, 2021- 2032
35. Key Companies
Market Share Analysis
Company Benchmarking
SWOT Analysis
36. Recent Market Developments
Appendix
Looking Ahead
Research Methodology
Legal Disclaimer
Type
Applications
Countries Analyzed
USD Analytics forecasts the global Recirculating Aquaculture system Farmed Salmon market size to increase from $725.4 Million in 2024 to $1.85 Billion in 2032, registering a CAGR of 12.4% during the forecast period
Largest Segment by Type is Atlantic Salmon (86.8% Market Share), Largest Segment by Application is Food Services ($480 Million)
Samherji fiskeldi hf, Danish Salmon A/S, Emirates AquaTech Ltd., Atlantic Sapphire AS, Pure Salmon Holding Ltd., Superior Fresh LLC, West Creek Aquaculture LLC, Cape Nordic Corporation Ltd., Nordic Aquafarms Inc., Sustainable Blue Inc., Andfjord Salmon AS, Kuterra Limited , AquaBounty Technologies, Inc.
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2030; Currency: USD; Volume
Asia Pacific