After several years of marginal decline and stagnant growth, the global salmon farming industry is poised for significant expansion over the coming decade, with production projected to increase by 27 per cent by 2030, according to research by seafood consultancy Kontali.
This recovery will be driven by enhancements in fish health, strategic investments, and a substantial rise in land-based production. However, without these key factors, the industry’s growth may not fully materialise.
Kontali's long-term analysis indicates that the industry's turnaround will depend on continued innovation to address regulatory constraints and health challenges. Europe is expected to lead this growth, with production increasing by approximately 25 per cent, while the Americas will experience more modest gains at around 11 per cent.
Contributions from Australia and New Zealand will be smaller, at about 17 per cent, and Asia, particularly China, is poised for gradual expansion, with land-based and offshore projects driving growth, though large-scale production is yet to be fully realised.
Regulatory limits, such as maximum allowable biomass (MAB) and environmental regulations, pose the primary challenges to growth. In Norway, for instance, sea lice and fish health concerns are closely linked to these constraints. Industry players are investing in solutions such as new sheltered cage technology and biosecurity measures to mitigate these risks.
Norway: Recovery is expected after recent productivity challenges. Growth will be driven by improved production planning, enhanced fish health measures, and investments in submerged cage technologies. However, regulatory restrictions under Norway’s traffic-light system and tax regime could limit growth potential.
Europe (excluding Norway): The UK, the Faroe Islands, and Iceland are set to benefit from investments in large smolt and shorter production cycles. Iceland, in particular, faces new regulations aimed at protecting wild stocks and improving biosecurity.
Chile: Political uncertainty remains a key risk, though recent developments have lessened the likelihood of major disruptions to aquaculture operations in key regions. Biosecurity risks continue to grow as the sector nears maximum productive capacity.
North America: In Canada, a transition towards land-based systems is underway following regulatory changes. In the USA, ocean-farmed production is expected to remain stable, while land-based and offshore projects will provide growth opportunities.
Australia and New Zealand: Warmer sea temperatures have slowed growth in Australia, but a recovery is expected. In New Zealand, new coastal projects will replace existing production, contributing marginally to global growth.
Russia and Asia: In Russia, growing domestic demand for salmon is encouraging the development of new farming sites and infrastructure, though actual production may fall short of ambitious targets. In Asia, particularly China, land-based and offshore projects are planned, but large-scale production has yet to be realised.
Land-based salmon farming is gaining traction as a politically and environmentally sustainable alternative to traditional farming methods, with growth in this segment expected to be the single largest contributor by 2033.
Norway is developing flow-through technology, while North America and Asia are becoming increasingly attractive regions for new investments due to proximity to major markets. Significant investments are also being made in Iceland to support stricter biosecurity regulations.
Meanwhile, wild salmonid catches are projected to remain stable, averaging between 800,000 and 900,000 tonnes per year, with seasonal fluctuations.
