Global Salmon Fish Market

Lately, there has been a noticeable surge in the global interest towards leveraging the biological resources of the World Ocean, driven by the mounting deficit of protein‑rich food for the world's inhabitants.

In 2020, fisheries and aquaculture production reached 214 million tonnes, including 178 million tonnes of aquatic animals and 36 million tonnes of algaeSource: The State of World Fisheries and Aquaculture 2022.. Products meant for human consumption totalled 20.2 kg per capita, up from 9.9 kgSource: The State of World Fisheries and Aquaculture 2022. in the 1960s. However, factors pertaining to urbanisation, increase in household earnings and dietary changes suggest that this figure will continue to rise. Fish alone provides approximately 1/6 of the animal protein in the global population's diet (20% for 3.3 billion people) and accounts for 7% of the total protein consumed.

Intensively, yet rationally, harnessing the biological resources and bioproductive capabilities of the World Ocean can greatly enhance the dietary habits of the global population Nevertheless, this scenario is unfolding amidst the emergence of tensions and diminishing productivity in the global fishing industry, stemming from the gradual depletion of aquatic bio‑resources. Analysis of commercial fish stocks indicates that currently 30% of them are at a biologically unsustainable level and are exposed to overfishing. Current wild fish stocks are unable to meet the growing demand. Solutions must be found to reverse overfishing trends and rebuild wild stocks without leaving a gap in seafood demand.

Based on global experience, the optimal and expeditious solution to the fisheries problem lies in the expansion of aquaculture.

As the strain on the stocks of certain traditional fishing resources became particularly noticeable after the first two post‑war decades, many countries embarked on the development and improvement of marine aquaculture — the establishment of “underwater farms” for cultivating seaweed, shellfish, crustaceans and fish. At present, aquaculture is predominant in nearly all categories of fish products.

According to the UN Food and Agriculture Organisation (FAO), 58.5 million people are directly employed in fisheries and aquaculture as of 2020, of which 35% were employed in aquacultureSource: The State of World Fisheries and Aquaculture 2022.. Moreover, a larger number of people are involved in associated activities such as loading, unloading, transportation, processing and marketing of fishery products. Fishing and fish farming together provide livelihoods for about 600 million people.

More than 95% of the world's algae production is aquacultured. Asia is the largest aquaculture producer, accounting for more than 90% of global production.

FAO forecasts that world fish production will reach 202 million tonnes per year by 2032. Aquaculture is expected to account for most of the uptick in fish production. The share of farmed fish in total production will grow from 51% in 2023 to 55% in 2032. Per capita fish consumption will also continue to rise. By 2032, 61% of fish consumed will be of aquaculture origin — up from 57% in 2023.

Through the responsible intensification of aquaculture, humankind can address the growing protein and fish requirements while alleviating the strain on wild fish populations, facilitating their recovery.

Despite the wide variety of artificially farmed aquatic species, only a few major species are predominantly used in aquaculture: inland aquaculture is primarily for carp species and marine aquaculture — for salmon species.