Scottish salmon exports soar by 41% with strong growth in Asia and US markets

Scottish salmon export sales surged by 41% in the first half of 2024, driven by significant growth in key markets across Asia and the United States, according to new data released by trade organization Salmon Scotland.

The figures reveal that between January and June, Scottish salmon, the UK’s largest food export, generated £431 million in revenue.

The robust performance has been welcomed by the UK Government, with Trade Policy Minister Douglas Alexander praising the sector’s substantial contribution to the economy. "These figures are hugely encouraging and show strong demand for our high-quality salmon in Asia and America - some of the most exciting markets in the world," Alexander stated.

The export figures highlight notable increases in sales to the United States, China, Taiwan, and Singapore, reflecting strong demand in these regions.

The US market alone saw an 18% rise, bringing in £91 million, while exports to China increased by 26% to £42 million. Taiwan and Singapore also posted significant gains, with sales up by 41% and 57% respectively.

France remains the top international destination for Scottish salmon, with exports to the country nearly doubling. Sales reached £261 million, a 91% increase, as France continues its post-pandemic recovery, coupled with tight supplies during the same period last year.

Despite a dip in sales to processing hubs within the EU, such as Poland, Ireland, and the Netherlands, overall EU export sales climbed by 57% to £272 million. Non-EU markets also showed strong performance, with a 21% increase, bringing sales to £159 million.

Salmon Scotland, the industry’s trade body, suggested that if the current growth trajectory continues, 2024 could set a new record for international sales. In the 12 months leading up to June, fresh, whole Scottish salmon export sales totalled £706 million, up 17% year-on-year, and on track to surpass the previous record of £617 million set in 2019. The volume of salmon exported also grew by 12%, indicating higher harvest volumes compared to the previous year.

One of the standout products, the premium ‘Label Rouge’ salmon, which is recognized for its superior quality in France, currently makes up about 12% of Scottish salmon exports. There are ambitions to expand this to 15% by 2026, particularly targeting markets in Germany, Spain, and Italy where the quality mark is gaining recognition.

Domestically, the UK market for salmon is valued at around £1.2 billion annually, with the sector contributing £766 million in Gross Value Added (GVA) to the Scottish and UK economy. The farm-raised salmon industry directly employs 2,500 people in Scotland, with an additional 10,000 jobs dependent on the sector.

“These latest export figures show another period of remarkable success for Scottish salmon, reflecting the hard work and dedication of our farmers and the growing global demand for our nutritious fish," said Salmon Scotland CEO Tavish Scott.

“Sustainably farmed in the waters off the Highlands and islands, with a top priority given to animal welfare, Scottish salmon’s exceptional quality is recognised worldwide, making it the UK’s top food export. Beyond generating hundreds of millions of pounds for the UK economy and creating thousands of jobs, Scottish salmon supports thriving remote coastal communities," he continued.

“Both the UK and Scottish governments acknowledge the potential for continued sustainable growth, positioning Scotland to lead the world in the blue economy and expand the availability of one of the most nutritious foods we have," Scott added.

“It’s a credit to those in the salmon industry across Scotland who work so hard to create such a revered product," added Alexander.

“Economic growth is at the heart of everything this UK Government does, which is why we are working hard to open up new markets for Scottish goods and services.”