Chile“s salmon industry is poised for substantial growth, with projections indicating it will reach approximately USD 400 million by 2033. This expansion is a remarkable increase from an estimated USD 188 million in 2024, reflecting a compound annual growth rate (CAGR) of 8.73% from 2025 to 2033.
The surge in the market can be attributed to several factors, including an escalating global appetite for seafood, a commitment to sustainable aquaculture, supportive government policies, and improved logistics. Increasing health consciousness among consumers, along with technological advancements in salmon production, are also significant contributors to this growth.
The demand for healthy, protein-rich seafood is a major driver of the Chilean salmon market. Salmon, recognized for its high omega-3 fatty acid content, is increasingly favored as a healthier alternative to red meat. Notably, the Central Bank of Chile reports that farmed salmon has become the second-largest export industry in the country, following copper mining, generating approximately USD 6.5 billion in 2023. Between 2019 and 2022, Chilean salmon production experienced nearly 11% growth, facilitated by a new regulatory framework designed to enhance efficiency and sustainability. In contrast, Norway, the leading salmon producer, saw only 5% growth during the same period, primarily due to challenging winter conditions and fish health issues.
Export growth is another key factor propelling Chile”s salmon sector, with salmon representing 6.8% of the nation”s total exports. In 2022 alone, Chile exported 821,288 metric tons of salmon, valued at USD 5.361 billion, according to the ITC Trade Map. The United States, Brazil, and Japan are among the primary markets relying on Chile”s consistent and high-quality salmon supply. In 2024, eleven salmon producers in Chile launched “Project Yelcho,” a public-private initiative aimed at enhancing environmental sustainability, reducing antibiotic use, and increasing vaccination practices. These efforts align with international standards, ensuring long-term access to global markets.
Government support is critical to the success of Chile”s salmon industry. In March 2024, eleven salmon farming companies collaborated with the Agricultural and Livestock Service (SAG) and the National Fisheries and Aquaculture Service (Sernapesca), alongside the Salmon Council and other organizations. This partnership aims to improve fish health and environmental sustainability by reducing antibiotic consumption and enhancing vaccine availability for salmon. Such collaborations underscore the government”s commitment to fostering biosecurity, industrial innovation, and regulatory advancements, all of which bolster Chilean salmon exports” competitiveness in the global market.
However, challenges loom over the Chilean salmon industry, particularly due to climate change. Altered maritime habitats resulting from climate shifts create conditions that stress fish, making them more vulnerable to diseases and parasites, such as sea lice. Rising water temperatures can lead to lower yields and increased mortality rates. Additionally, the effects of extreme weather events can disrupt logistics and damage infrastructure, challenging producers to adapt swiftly to these environmental changes, often at significant costs.
Moreover, the salmon market faces reputational and sustainability concerns, with past issues such as disease outbreaks and antibiotic overuse drawing scrutiny. Importers and consumers are increasingly demanding transparency, traceability, and certifications to ensure ethical farming practices. Negative publicity can affect pricing and market access, particularly in environmentally conscious regions like North America and Europe. To remain competitive, Chilean farmers must invest in sustainable practices and enhance animal welfare, as neglecting these issues could harm the industry”s reputation and hinder future growth.
Recent developments in the Chilean salmon sector include a collaboration in March 2024 among eleven salmon farmers and government agencies to improve vaccine availability and tackle bacterial diseases while reducing antibiotic reliance. Additionally, in October 2023, Chile announced a partnership with China to export Coho salmon, solidifying its status as the world”s leading producer of this species, contributing over 89% of global production. Furthermore, Aqua Chile, a prominent salmon producer, revealed plans in March 2023 to invest in land-based salmon farming projects in the United States, marking a significant move towards more sustainable aquaculture practices.
