Feeding Demand, Fueling Decline

Its rise has been rapid and global.

Salmon farming, which began experimentally in the 1960s, became an industry in Norway in the 1980s and in Chile in the 1990s.

Since then, global salmon farming has expanded rapidly, making up over 70% of total salmon production (wild Pacific salmon makes up the remainder). In 2023, more than 2.8 million metric tons of farmed salmonids were produced, with 990,000 tons of wild salmonids caught.¹

Today, traditional farming regions – Norway, Chile, the UK, Canada, and the Faroe Islands – dominate due to favorable conditions like cold water (8°C to 14°C), sheltered coastlines and optimal biological factors.  Salmon farming has also expanded to Australia, Iceland, Ireland,New Zealand, and the U.S. Atlantic salmon are by far the most commercially farmed salmon species.⁶

It’s driven by high demand.

As consumer demand for salmon grows, industrial-scale salmon farmers are further incentivized to set up their sea cages where cold, calm waters beckon and regulations allow.

Norway remains the dominant producer. With approximately 48% of production share, it contributed 1.5 million metric tons in 2023, of which it exported 1.2 million.²,³,⁴ Other major players include Chile, the U.K., Canada, and the Faroe Islands, all of which capitalize on preferred cold water and sand sheltered coastlines.²,⁶

It’s big business.

The global value of Atlantic salmon sales tripled between 2012and 2022.¹ The market for salmon was valued at $19.1 billion USD in 2024, and is projected to reach $44.4 billion USD by 2034.⁵

Here’s a look at the output of the industry’s major operators:

Major Companies, 2023 Production Values and Operating Locations¹¹

1. Mowi ASA (527,000 metric tons): Headquartered in Bergen, Norway, Mowi is the world's largest salmon producer, with operations in Norway, Scotland, Canada, Chile, Iceland, Ireland and the Faroe Islands.
2. SalMar ASA (296,000 metric tons): Also based in Norway, SalMar has significantly expanded its operations, particularly after merging with NTS, NRS and     SalmoNor at the end of 2022, elevating it to the second-largest position in global salmon production.
3. AquaChile (247,000 metric tons): Operating out of Chile, AquaChile is a leading salmon producer with a substantial share in the global market, contributing to Chile's status as the second-largest salmon-producing nation after Norway.
4. Lerøy Seafood Group (191,000 metric tons): Lerøy operates salmon farms in Norway and has processing facilities in several countries.
5. Cermaq (206,000 metric tons): A subsidiary of Mitsubishi Corporation, Cermaq has farming operations in Norway, Chile and Canada.
6. Cooke Aquaculture (167,000 metric tons): Headquartered in New Brunswick, Canada, Cooke has operations in Canada, the United States, Chile and Scotland.

It is not without its challenges and detractors.

Despite the scale and maturity of the salmon farming industry, it is important to note that expansion has not always gone unchecked. Public pressure in response to large-scale net failures, disease outbreaks, mass mortality events, and impacts on sensitive local marine life are prompting regulatory attempts to limit and shutter sea cage operations. For more information, see Closing the Gaps: Reforming Salmon Aquaculture Regulation.

Leading companies such as Mowi ASA, Lerøy Seafood Group, Cermaq, Cooke Aquaculture and Grieg Seafood, continue to drive expansion despite ongoing environmental and regulatory challenges.

This growth depends on the industry’s heavy reliance on increasingly expensive technology, such as post-smolt facilities to mitigate growing risks of sea lice, disease and environmental strain.   

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