- China is projected to consume one-tenth of global salmon production by 2030 as growth slows in the US and Europe.
- Salmon farming faces significant challenges, including tariffs, biological issues, and the rapid development of new farming technologies.
- Investor interest in salmon farming remains high, with ongoing trends of consolidation among global salmon producers.
This data was revealed during IFFO’s 2026 Members Meeting, which was held on April 28 and 29 in Madrid, Spain by Carl-Emil Kjølås Johannessen from Pareto Securities.
Salmon farming is one of the most scrutinised segments of global aquaculture with a complex operating environment.
Speaking during the conference, Johannessen said outlined the challenges facing producers and investors, such as tariffs, persistent biological challenges, and the rapid emergence of new farming technologies
Despite these pressures, seafood continues to outperform other animal proteins in terms of demand growth.
Johannessen said that since 2006, the salmon market has expanded at an average rate of 3.8% per year, while seafood overall has grown 2.4% annually.
Both have outperformed other animal proteins, which have increased by about 1.9% annually.
However, demand has not been consistent globally.
“While demand in the US and European markets has slowed since 2002, it is growing in Asia, most notably China, where at this pace they are set to consume 1/10 kilo of salmon produced globally in 2030,” said Johannessen.
This shift is reinforcing Asia’s strategic importance for global producers and investors.
In response to growing demand and challenges,
Johannessen said salmon producers are responding by rolling out a broader mix of farming technologies, including land‑based, submergible, semi‑closed and offshore systems, each tailored to its operating environment.
He added that there remains a high level of interest from investors, and the trend of consolidation among salmon farmers continues globally.
Fishmeal and fish oil
Beyond salmon, China is also seeing rising demand for marine ingredients, with consumption of both fishmeal and fish oil increasing alongside the expansion of its aquaculture and feed sectors.
IFFO China Director Maggie Xu. explained that government authorities were continuing to optimise market access control policies with the aim of improving both accuracy and flexibility.
China’s imports of fishmeal and fish oil reached an all-time high in 2025.
Xu said the surge was linked to thin profit margins in the domestic sector, which triggered a year‑on‑year contraction in local production and increased reliance on imports.
At the same time, fish oil exports for feed purposes declined over the past year, but they are expected to increase in response to constraints in global crude fish oil supply.
In 2025, China’s fishmeal and fish oil consumption sustained the elevated levels seen in 2024. However, Xu expected to see a contraction in 2026.
Lastly, Xu addressed marine catches, which were slightly higher in 2025 than the previous years
However, less wild captures were used in marine ingredients production in 2025 in response to the new fishing laws to promote sustainability.
