How to keep salmon on consumers’ plates
March 13, 2019
By Liza Mayer
Salmon is winning consumers’ hearts but the salmon industry should continue to innovate to reinforce its current value proposition as a healthy and sustainable product, says RaboResearch.
“Salmon has competed successfully with other animal proteins for the centre of the plate. It has outpaced growth in pork, poultry, beef, and wild-caught seafood,” says Beyhan de Jong, Associate Analyst – Animal Protein at RaboResearch.
However, she noted that “the competition for the centre of the plate is getting tougher as the consumer trends that favored salmon also favor the new range of alternative proteins.”
She said the same three factors that have contributed to the growth of salmon demand so far could also support further growth. These are: consumer trends favoring salmon consumption; unique features of the salmon supply chain compared with other seafood categories (for instance, salmon ensures consistent supply with consistent quality so it has become a key raw material for the processing industry); and growth strategies through new markets and new value-added product.
“For the foreseeable future, Rabobank expects strong salmon demand to continue, which will keep prices at their current highs,” says de Jong.
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