China buys salmon from around the world

The power of foodies is beyond people's imagination.

As people's requirements for quality of life increase, salmon, known as the "King of the Ice Sea", has been purchased in large quantities by Chinese people in recent years. This imported fish species is rich in Omega-3 (a polyunsaturated fatty acid) and multiple vitamins, and has extremely high nutritional value, making it a favorite of many people.

In 2023, China surpassed Japan and South Korea to become the largest market for Norwegian chilled salmon in Asia. Salmon on platforms such as Hema and JD.com are usually snapped up during major holidays. In the past year, the Chinese market consumed 80,000 tons of salmon, equivalent to 13 million salmon, demonstrating a huge demand.

Due to the harsh living environment, low yield, difficulty in fishing, and long ocean transportation time, the price of domestic salmon has remained high. Among them, the king salmon, known as the "Rolls-Royce" of salmon, can be sold for 4,000 yuan/kg.

It is predicted that by 2028, salmon can support a market size of more than 160 billion yuan. Driven by demand, domestic companies have also begun to make plans. Some companies have acquired high-quality and scarce licenses by acquiring overseas companies. In addition, they have expanded their categories and entered the salmon market by farming rainbow trout in freshwater.

However, freshwater farming or farming at low latitudes is more prone to diseases, parasites and other problems, and the nutritional value will be greatly reduced. It is very difficult for China to become a major salmon farming site, and it is almost out of reach. However, the appetite of foodies is there, and the long-term dependence of salmon on overseas will not change.

The top ten salmon companies in the world are basically controlled by Norway, Chile, the Faroe Islands of Denmark, the United Kingdom and Canada. Norway's Mowi has long occupied the top spot. In 2023, its revenue reached 5.5 billion euros, operating profit was 1.028 billion euros, and the harvest volume was 475,000 tons, all of which were record highs.

Summary:

The main reasons why China is buying up salmon from around the world include:

High nutritional value: Salmon is rich in omega-3 fatty acids and multiple vitamins, which are good for health and attract consumers who pay attention to healthy eating.

Growing market demand: With the expansion of the middle class and the popularization of the concept of healthy eating, China's demand for salmon continues to grow, especially during major holidays, when salmon is often snapped up.

Preference for import standards: The Chinese market prefers salmon specifications above 6 kg, and the average weight of Norwegian salmon meets this standard, so it is particularly popular in the Chinese market.

Price factors: Due to the harsh farming conditions, low yields, difficulty in fishing, and long ocean transportation time of salmon, the domestic salmon price is relatively high, further driving import demand.

These factors work together to make China the main driving force of the global salmon market, resulting in the growth of global salmon trade mainly concentrated in China.