Experts report that increased demand for fish in China, and salmon in particular, could transform the global market.
A trend toward increased consumption of more expensive and hard-to-find foods is currently emerging in China.
In particular, salmon consumption is expected to increase exponentially. At the same time, it’s worth noting that the potential for increasing its production is inherently limited.
All of this could lead to demand for this fish significantly exceeding supply, which would inevitably lead to higher prices. This assessment was voiced by an analyst at a relevant industry association at an industry conference.
According to analysts, the higher the standard of living in a country, the faster the consumption of scarce and expensive aquatic bioresources—primarily salmon and wild-caught products—will grow.
According to existing estimates, the Chinese middle class already numbers nearly 200 million people—more than the entire population of Russia.
Moreover, this figure continues to grow rapidly. According to forecasts, it will grow by another 20-30% by 2030. Therefore, there is every reason to believe that demand for salmon will also increase by a comparable amount.
The industry union also notes that even without taking into account the above-mentioned factor, global demand for wild-caught fish is steadily growing. In the last ten years alone, global demand has increased by 27 million tons.
At the same time, the global catch has stabilized at 90-92 million tons, with limited potential for further growth. Thus, the bulk of supply growth is coming from aquaculture.
However, there are significant limitations here, particularly in the salmon segment, including salmon. Due to the small number of waters suitable for farming, salmon production worldwide has effectively stagnated in recent years.
Last year was an exception, when, thanks to a combination of favorable circumstances, primarily weather, production volumes increased by more than 10%.
Overall, experts note, salmon consumption in China is abnormally low—just 0.1 kg per person per year. By comparison, in the United States, this figure reaches 1.8 kg.
This situation indicates enormous growth potential. Salmon consumption in China is expected to double or triple over the next ten years, which will inevitably lead to higher prices on the global market.
