Potential opportunities in the Chinese salmon market

On August 28th, the Norwegian Seafood Council attended the "7th China Salmon Industry Development Summit Forum" to share insights and analysis on the global salmon market and salmon consumption in the Chinese market in 2024.

Compared to 2023, the global supply of Atlantic salmon in 2024 is expected to decrease slightly by 0.4% to 2,809,000 tons, with growth expected in the next two years. Norway is the largest Atlantic salmon producer in the world, accounting for 54% of the global production. It is estimated that Norway's salmon production will increase by 2% to 1,508,000 tons by 2024.

Sigmund Bj ø rgo, Director General of the Norwegian Seafood Council, stated at the summit: "In 2023, China was the fastest-growing market for Atlantic salmon consumption in the world, consuming a total of 108,128 tons of Atlantic salmon, a year-on-year increase of 32,597 tons or 43%, making the Chinese Atlantic salmon market the eighth largest market in the world"

China is currently the largest consumer market for Atlantic salmon in Asia, with a consumption volume more than twice that of the second ranked Japanese market, which has 50,000 tons.