Salmon consumption jumped by 6% year-on-year in second quarter
'Megatrends' and limited supply growth keep global demand strong beyond 2026, says Mowi boss
Global consumption of Atlantic salmon reached 696,500 tonnes in the second quarter of this year: an increase of 6% in volume and 9% in value compared with the same period last year, according the information in salmon giant Mowi’s Q2 2026 report published this week.
“Consumption exceeded supply by approximately 12,000 gutted weight tonnes during the quarter, facilitated by a reduction in inventories,” reported Mowi, which sources some of its statistics from market analytics firm Kontali.
“Importantly, higher consumption was achieved alongside increased prices year-on-year, indicating that the market was able to absorb greater volumes without requiring lower prices to stimulate demand.”
Europe up 8%, China up 18%
The European and Asian markets were the main drivers of growth, with consumption in Europe up by 8% in Q2, primarily driven by retail sales rather than foodservice which was more sensitive to higher prices.
Development was particularly strong in the United Kingdom, Germany, and parts of Central and Eastern Europe, wrote Mowi, while the French market continued to show positive value growth but more modest volume development.
“Overall, European markets absorbed materially higher volumes during the quarter at increased raw material prices year-over-year which indicates solid underlying demand,” wrote Mowi, the world's biggest salmon farmer.
Consumption in Asia increased by 10% year-on-year in Q2, with growth primarily driven by China/Hong Kong, where consumption increased by 18%, supported by continued growth in retail, e-commerce and hybrid channels, as well as improved availability in lower-tier cities. China/Hong Kong accounted for approximately 45% of the year-on-year increase in global supply during the quarter.
Demand in Japan was broadly stable year-on-year, while South Korea and other Asian markets recorded strong demand, reported Mowi.
“Overall, Asia remained an important growth driver for the salmon market, with China continuing to absorb a significant share of global volumes.”
The Americas
Consumption in the United States increased by 3% in Q2 despite supply contraction of 3% in the Americas.
“Bearing in mind generally higher salmon prices in end markets the overall demand remained good. Growth continued to be driven by the retail channel, with good developments for fresh pre-packed products, particularly skin-pack,” wrote Mowi.
“E-commerce continued to support the category, with both in-store pickup and home delivery showing strong growth across major retailers. This was also reflected in Mowi’s skin-pack sales, which increased by 23% year-on-year.”
In Brazil, consumption increased by 10% year-on-year despite lower supply from Chile during the quarter, a development which Mowi said indicates solid underlying demand and a continued shift of available volumes towards the Brazilian market.
Driven by megatrends
In a press release accompanying its Q2 2026 results, Mowi said salmon prices have increased by 21% so far in the third quarter compared with 2025, driven by strong demand across many markets and a normalisation of supply growth in the industry.
“We expect market growth to continue through 2026 and beyond, driven by megatrends such as healthier lifestyles, increasing demand for sustainable protein sources, and not least salmon’s unique and broad appeal,” said Mowi chief executive Ivan Vindheim.
