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Smoked salmon is a preparation of salmon fish or typically its fillets that have been cured and hot or cold smoked. The smoking process increases the flavour and texture of the fish. The salmon has various nutritional advantages as it is rich in omega-3 fatty acids, proteins, vitamins, selenium and potassium which can lower the high blood pressure and heart disease risks. Further, the millennials demand for tasty meals that offer nutritional benefits due to their growing health consciousness.
The growing trend of consuming organic food products as they are free-from harmful chemicals as well as are sustainable has led the manufacturers to introduce organic smoked salmon. For instance, In September 2019, JCS Fish Ltd., has launched BigFish Signature, a premium range of organic smoked salmon which are hand cured with natural salt.
The increasing demand for processed foods that are convenient as well as healthy due to the busy lifestyle of the consumers has driven the smoked salmon market. Salmon is a rich source of nutrients and is widely consumed in smoked form either directly or is incorporated in some culinary preparation. Along with this, the growing demand for seafood due to its rich taste and nutritional properties has contributed in the market growth.
The smoked salmon fish is expensive as its supply is less as compared to its demand. Along with this, the salmon undergoes various processes such as curing, brining and smoking that leads to increase in its overall end product price. Thus, this is the major factor impeding its growth.
Key Market Driver -
Rising Demand for Processed Fish
Key Market Restraint -
High Price of the Smoked Salmon
The key companies operating in the global smoked salmon market are, Marine Harvest, GrupoUBAGO, Delpeyrat, UAB Norvelita, Specialty Food Association, Inc., Meralliance, TSIALIOS, Grieg Seafood, Gottfried Friedrichs KGand Acme Smoked Fish Corp.
The global smoked salmon market is segmented by type, and end-use application. The cold-smoked salmon variant is accounted for holding the major market share as cold smoke does not cook the fish and retains its delicate texture. Cold-smoked salmon is dry-cured in salt that draws out a lot of moisture along with giving it a hint of smoky flavour.
The commercial end-use application is holding the major share in the market owing to the rising demand for convenience food. Moreover, the smoked salmons are ready-to-eat that save the cooking time leading to their increased demand.
North America is expected to observe significant growth in the market due to the increasing inclination of consumers, especially the millennials towards convenience food. Along with this, the smoked salmon is commonly known as ‘Nova’ in the region and is widely consumed as a cuisine paired with red onion, lemon and capers.
Europe is anticipated to observe a moderate growth in the market due to the increase in per capita consumption of smoked salmon. Further, Germany is the largest smoked salmon consuming country followed by the UK and France. In the year 2018, the prior mentioned three countries combined hold 39% of total smoked salmon consumption in Europe, thus giving a boost to its regional sales performance.
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