Aquaculture - Salmon: Market Size & Forecast 2026

The global aquaculture-salmon market sits at approximately USD 18.5 billion in 2025 (base year), representing roughly 2.8 million tonnes of farmed production dominated by Atlantic salmon (Salmo salar). The market grows at a 4.2% CAGR through 2032, reaching our forecast of USD 24.0 billion by the end of the period. Norwegian spot prices have traded in the EUR 6-7 per kilogram band through the first half of 2026, pressured by strong supply growth and a strengthening Norwegian krone, though Rabobank expects tightening fundamentals to support firmer pricing into late 2026 and 2027. > **Analyst Take.** The consensus 4-5% CAGR masks a two-speed market: traditional sea-pen Atlantic salmon grows at roughly 3-4% while land-based RAS scales at roughly 12% off a low base. Buyers who treat this as a single commodity category will misprice the supply risk. The call is to segment the spend: lock tradi

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