Between 2019 and 2023, the salmon market in the United States has shown notable resilience and growth despite facing multiple external pressures such as the COVID-19 pandemic, inflation, and shifting consumer behaviors. During this period, the industry has evolved in response to emerging trends, growing health awareness, and increased demand for sustainable food options. These factors, alongside technological advancements and government support, reshaped the U.S. salmon sector, establishing it as one of the most dynamic segments within the broader seafood market.
U.S. Salmon Market Size and Structure in 2019-2023
The salmon market in the USA increased at a compound annual growth rate (CAGR) of 8.45%. As a result, it reached 8.24 billion USD in 2023.
The consumption per capita of salmon in the USA showed an overall increase in the period 2019-2023. Until 2023, it grew at a CAGR of 7.79% to reach 24.890 USD per capita.
In 2023, the salmon market in the USA was dominated by fresh salmon, which accounted for 78.3% of the total value. It was followed by frozen salmon with a share of 21.7% in the same year.
Broken down by retail distribution channels, the salmon market in the USA was led by supermarkets and hyper markets. In 2023, they accounted for 51.4% of the total volume. That left 48.6% to all other retail distribution channels in the same year.
Imports and Exports of Salmon in the USA
The imports of salmon to the USA in the period 2019-2023 grew at a CAGR of 9.57% to reach 6.39 billion USD.
The exports of salmon from the USA in the period 2019-2023 decreased at a CAGR of -1.21% to reach 832.69 million USD.
As a result, the trade balance of salmon in the USA was negative and recorded an overall decrease during the analyzed period. Until 2023, the trade deficit increased at a CAGR of 11.78% to reach -5.55 billion USD.
Key Trends in the Salmon Market in the USA
Rising Demand and the Shift to Sustainable Practices
Despite the global disruptions caused by the pandemic and economic instability, demand for salmon in the U.S. continued to climb steadily. The surge is largely driven by population growth, increasing incomes, and a heightened focus on health and wellness. American consumers are more aware of the nutritional value of salmon, which is rich in Omega-3 fatty acids, protein, and essential vitamins. These health benefits positioned salmon as a preferred protein source among individuals seeking weight management, cardiovascular health, and overall wellness.
In response to growing consumer concerns over sustainability, producers are adapting their operations to reduce environmental impact. One of the most significant industry shifts has been the development of land-based aquaculture. Using technologies like Recirculating Aquaculture Systems (RAS), land-based salmon farms offer environmentally friendly alternatives to traditional sea-based net pen farming, which faces capacity constraints and environmental scrutiny. Companies such as Atlantic Sapphire and LocalCoho lead this transition, producing high-quality, sustainably farmed salmon while mitigating risks associated with disease, contaminants, and ecological disruption.
The trend towards land-based aquaculture aligns with the increasing importance of sustainability in the industry. U.S. consumers show a clear preference for seafood products with transparent sourcing, safety guarantees, and ecological certifications. Consequently, salmon producers invest heavily in sustainability initiatives, not only to meet regulatory requirements but also to maintain consumer trust and competitive advantage.
Government Support and Regulatory Framework
In February 2024, the United States made a significant commitment to aquaculture through the first update to the National Aquaculture Development Plan since 1983. The plan reaffirms aquaculture's role in enhancing food security, supporting climate resilience, and conserving endangered species. By focusing on improving regulatory efficiency, advancing research, and fostering economic growth, the updated framework provides a strategic path forward for the U.S. aquaculture industry.
Salmon farming is expected to benefit from these policy developments. Initiatives like SalmoGen, which aims to create a domestic source of salmon eggs by 2027, are vital for reducing reliance on imports and enhancing biosecurity. By securing a stable, high-quality supply chain for salmon production, the U.S. aquaculture industry aims to support domestic farmers and meet rising local demand sustainably.
Consumer Trends and Health Awareness
Health consciousness continues to drive salmon consumption across the U.S. market. Consumers increasingly seek out foods with proven health benefits, such as the Omega-3 fatty acids found in salmon, which contribute to improved heart health and cognitive function. The growing prevalence of obesity, diabetes, and cardiovascular disease has further elevated salmon's role in the modern diet.
Alongside health considerations, label transparency has become a priority. U.S. consumers frequently scrutinize expiry dates, species names, weights, and certifications when purchasing seafood. Labels conveying safety guarantees, sustainability credentials, and origin details significantly influence purchasing decisions.
Moreover, shifts in consumer lifestyles, particularly in urban areas, fuel demand for processed and ready-to-eat seafood options. Smoked salmon, for instance, gained popularity due to its convenience and health appeal, catering to the needs of time-constrained consumers seeking nutritious, on-the-go meal solutions.
The Role of Alaska and Economic Challenges
Alaska is a cornerstone of the U.S. salmon industry, both economically and culturally. Alaska's fisheries are globally recognized for their sustainable management practices, ensuring the long-term health of salmon stocks. However, despite abundant salmon runs, the region faced significant challenges in 2023 due to weak consumer demand and high inflation, which led to reduced processor operations and lower earnings for fishermen. According to the Alaska Department of Fish and Game, prices paid to fishermen for pink salmon in 2023 were roughly half of those in 2021.
This price drop, coupled with high retail prices, created a disparity that affected both producers and consumers. Large inventories and reduced purchasing power have further stressed the supply chain, underlining the need for adaptive strategies to maintain market stability.
Key Drivers in the Salmon Market in the USA
Domestic demand remains the strongest driver of the U.S. salmon market. American consumers have long-standing traditions of salmon consumption; rising incomes, urbanization, and population growth are expected to continue fueling demand in the medium term. The trend towards healthier lifestyles and doctor-recommended diets will also contribute to salmon's sustained popularity.
Additionally, the growth of e-commerce has expanded consumer access to fresh and processed seafood. Online platforms, combined with strategic social media marketing, allow producers to respond quickly to evolving consumer preferences, ensuring product availability and fostering brand loyalty.
However, challenges remain. Disease management, biosecurity, and the responsible use of antibiotics, particularly in imported salmon from countries like Chile, are ongoing concerns. U.S. consumers' increasing awareness of antibiotic use and food safety may prompt a shift towards products from regions with stricter health standards, such as Norway.
Looking forward, the expansion of land-based salmon farming and government-backed initiatives like SalmoGen will play pivotal roles in reducing dependence on imports and ensuring the long-term sustainability of the U.S. salmon market. Through continued innovation and commitment to sustainability, the U.S. is positioned to remain a leader in responsible salmon production, meeting domestic demand while addressing global environmental challenges.
Forecast for the U.S. Salmon Market
Under the base forecast scenario, the U.S. economy is expected to show steady growth in the medium term. As a result, the U.S. salmon market is expected to reach 12.71 billion USD by 2029.
If the US economy does not reach expectations, it will show declining rates in the medium term. In this case, the salmon market in the USA will fall to 7.30 billion USD by 2029.
If the US economy exceeds expectations, the salmon market in the USA is forecast to reach 14.60 billion USD by 2029.
