Land-based salmon have the potential to be carbon negative, in addition to having a low environmental effect. It will be able to gather waste products from fish farms in the future and use them to make biofuels. Local energy may be created at a low cost with little investment in existing fish farms, allowing fish farmers to gain additional cash from biodiesel manufactured from fish residue or trash.
Covid-19 Impact & Market Status
The pandemic of Covid-19 has had an influence on supply and demand in numerous businesses along the supply network. Since February, Covid-19 has wreaked havoc on the salmon market, causing a sharp decline in land-based salmon spot prices as well as logistical issues with air shipping. The demand for salmon has shifted in recent weeks, favoring items for the retail market at the expense of the fresh-oriented HORECA [hospitality, restaurant, and catering] market. The COVID-19 outbreak is predicted to stymie investment in the land-based salmon business. However, operational consistency has grown more crucial in order to balance the expense of disruption. Lockdowns and travel restrictions have lowered demand for land-based salmon utilities among big industrial and commercial users, limiting revenue opportunities for industry participants. The availability of protein and other benefits will boost this market in future.
Atlantic Salmon to Emerge as the Most Lucrative Segment
This market is separated into two types: Atlantic salmon and others. Because Atlantic salmon is regarded a highly nutritious food and one of the fish with the more exquisite taste in many cultures, it is the most lucrative market. As a result, it appears in a variety of popular traditional cuisines and can command a greater price than other fish. It has long been a target of private and commercial fishing, which has had an influence on the population in some locations, as has habitat loss. Aquaculture techniques for farming this species also have been developed, and it is now farmed in large numbers in several locations across the world.
Food Service Sector to Remain Atop
This market is segmented into two segments based on application: food service and retail. Due to rising consumer expenditure on restaurant and other dining venues, the foodservice industry has the biggest market share. Salmon is adored by people all over the world because of its high protein content. Omega-3 fatty acids in salmon assist keep your body healthy by maintaining the health of your blood vessels.
Europe regions to Render Ample Investment Avenues
Geographically, the Global Land-Based Salmon Market is segmented into four regions: North America, Europe, Asia Pacific, and South America. The highest market share belonged to Europe, while the second-largest belonged to North America. Pure Salmon, a land-based salmon farming firm, has released new information about its ambitious development ambitions in the United States and Europe. Two locations in Europe are being explored for future RAS facilities.
Salmon raised on land offers a nutritious, low-cost product that is high in heart-healthy omega-3 fatty acids, a crucial role in preventing heart disease. Salmon, both wild and farmed, as well as fish and shellfish in general, are healthier than other animal products.
Land-based salmon is defined as salmon that is hatched, grown, and harvested under controlled conditions before being sold fresh in the market. It's abundant in antioxidants and astaxanthin, as well as a good source of protein, vitamins, and minerals. A land-based salmon is one that has been raised utilizing land-based aquaculture with a Recirculating Aquaculture System. Salmon raised on land not only avoids pollution, but also regulates their growth.
In 2029, the worldwide market for land-based salmon is expected to be worth USD 1031.5 million. The expansion of this industry is projected to be aided by advances in technology and a scarcity of salmon fish as a result of worldwide urbanization. Salmon maintains substantially more protein and energy than other farmed animals, with beef having just 15% protein retention compared to 31% for salmon. Global food systems, including the fish breeding sector, are being strained by an increasing population. Aquaculture and fish farming, in particular, have evolved to fill the void as global fish consumption continues to rise. Salmon is by far the most efficient food system when compared to beef, pig, or chicken. Offering the largest edible yield and unrivalled feed conversion.
The key players in this industry are Andfjord Salmon, Cape Nordic Corporation, Pure Salmon, Shandong Ocean Oriental Sci-Tech, Samherji fiskeldi ltd, Jurassic Salmon, Atlantic Sapphire, Aquabounty, Matorka, Kuterra Limited, Swiss Lachs, Sustainable Blue, Nordic Aquafarms, Fish Farm UAE, Danish Salmon, Superior Fresh. These are the global market players in the land based salmon market.
Latest Innovations in the Land Based Salmon Market
- For its revolutionary shore-based farming idea, Andfjord Salmon™ has gained international acclaim. Its one-of-a-kind architecture offers year-round access to pristine Arctic saltwater at ideal agricultural temperatures. The big grow-out tanks' low fish density ensures the best possible fish welfare and development. In the intertidal zone, Andfjord Salmon™ is a land-based facility. The system is completely flow-through, ensuring that the salmon have a constant supply of saltwater. Traditional land-based operations rely on recirculating aquaculture systems (RAS) that reuse over 99 percent of the water, however this flow-through production approach is completely different.
- Following recent net-pen farm disasters that released farmed fish into the open ocean, conservationists and animal rights groups are putting pressure on the industry to phase out net-pen style salmon farms. Several nations have outlawed net-pen farms in their oceans, prompting firms like Atlantic Sapphire to step in with innovative land-based "bluehouse" fish farms. Enter Atlantic Sapphire, a Norwegian firm founded to meet the demand for organically farmed and shipped salmon with a low carbon impact throughout the world. Meanwhile, the company's founders started building a bluehouse in the continental US, which turns out to be responsible for importing 90% of the world's farmed salmon.
Land Based Salmon Market Scope
|Revenue forecast in 2028
|USD 1031.5 million
|CAGR of 15 % during 2021-2028
|Type, Application, Regions
|North America, Europe, Asia Pacific, Middle East and Africa, South America
|Key Players Profiled
|Andfjord Salmon, Cape Nordic Corporation, Pure Salmon, Shandong Ocean Oriental Sci-Tech, Samherji fiskeldi ltd, Jurassic Salmon, Atlantic Sapphire, Aquabounty, Matorka, Kuterra Limited, Swiss Lachs, Sustainable Blue, Nordic Aquafarms, Fish Farm UAE, Danish Salmon, Superior Fresh
Key Segments of the Land Based Salmon Market
By Type Overview, 2022-2029 (USD Million)
- Atlantic Salmon
By Application Overview, 2022-2029 (USD Million)
- Food Service Sector
- Retail Sector
By Region Overview, 2022-2029 (USD Million)
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South America
- Rest of South America
Middle East and South Africa