Norway’s market share of the Chinese salmon market totaled 67 percent in April, marking the highest percentage in more than 10 years, according to the Norwegian Seafood Council’s (NSC) office in China.
NSC China Director Sigmund Bjorgo told SeafoodSource that Norway exported 25,600 metric tons (MT) of salmon to China over the first four months of 2024, marking an increase of 110 percent year over year. In April alone, Norway exported 8,200 MT, which was a spike of 188 percent year over year.
Total salmon exports to China amounted to 44,700 MT over the first four months of the year, marking growth of 33 percent compared to the same period last year. In April, China imported 11,000 MT of salmon, representing an increase of 47 percent year over year.
This comes despite tepid growth in China’s overall economy and retail sales.
“In contrast to the general economy and retail market in China, the salmon market is preforming outstandingly,” Bjorgo said. “The growth is driven by a combination of decreased prices on salmon from all countries; Norwegian prices being very competitive due to strong biology, growth, and, therefore, good availability of large-sized salmon; and an underlying growth in the Chinese market driven by both modern retail and new online channels reaching out to new consumers groups even in smaller Chinese cities.”
Regarding the importance of leveraging online channels for growth, former NSC China Director Andreas Thorud, who is now the managing director of Nordic Aqua’s recirculating aquaculture salmon-farming operations in Ningbo, China, said in March of last year that further development of distribution channels outside of traditional ones would be crucial to untapping China’s potential.
“The main channels are HoReCa [hotel, restaurant, and catering] and Japanese restaurants. We have estimated that [in 2023], these had 85 percent of the market, with the rest accounted for by retail and e-commerce,” he said. “But, [retail and e-commerce] are going to be crucial channels for growing the consumer base and getting a higher home consumption.”
Bjorgo explained that to further strengthen Norway’s hold on the market, his office is currently working on a marketing program with Chinese chefs serving as ambassadors for Norwegian salmon.
“For the second half of the year, we are discussing an increased marketing budget in China to leverage on the strong growth in the market,” he said.
