Mowi

What Mowi does

Mowi ASA is the world's largest producer of farm-raised Atlantic salmon and a fully integrated seafood company headquartered in Bergen, Norway, founded in 1964 and listed on the Oslo Stock Exchange (OSE: MOWI) with secondary trading on the US OTC market. The company operates through three business areas - Feed, Farming, and Sales & Marketing - and supplies approximately 8 million salmon meals per day across more than 70 countries, reaching EUR 5.73 billion in 2025 turnover with 559,000 tonnes harvested and 41 processing facilities in 19 countries.

The product portfolio centers on the MOWI brand (present in 23 countries), covering whole fish, fillets, smoked salmon, and value-added products such as MOWI Fjord Norwegian Salmon Burgers and the Ducktrap premium smoked seafood line, alongside the MOWI Signature foodservice range. Underlying the farming operations is Mowi 4.0 / Smart Farming - a digital value chain integrating computer-vision-based underwater cameras, AI-driven biomass and lice monitoring, automated feeding, laser delousing, net-cleaning robotics, and post-smolt closed-containment systems. Genetic IP traces back to the original 1964 Vosso and Åroy River stock, supported by an in-house breeding program now enhanced through a TidalX AI collaboration.

Mowi's business model is B2B-led, generating revenue through direct sales to retail, horeca, and industrial processors, complemented by trading and bulk sales and an expanding branded consumer product offering. Pricing is negotiated and quote-based rather than publicly disclosed. The company employs 12,500 people across 26 countries and holds roughly 20% global market share in farm-raised Atlantic salmon. Recent strategy has emphasised inorganic growth (Nova Sea at 95%, Arctic Fish at 51.28%, Torghatten Aqua), cost-out via the Skretting feed partnership (EUR 55 million annualised savings), and downstream value-added expansion through Sam's Club and Expo West launches.

Name

Mowi

Legal name

Mowi ASA

Website

https://mowi.com

Company type

Public

Founded year

1964

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Mowi ASA is the world's largest farm-raised Atlantic salmon producer, headquartered in Bergen, Norway, supplying 8 million meals daily across 70+ countries through Feed, Farming, and Sales & Marketing operations, serving retail, foodservice, and industrial customers under the MOWI and Ducktrap brands.

Ownership category

akta.pro rank

Product category

Farm-Raised Atlantic Salmon Production and Processing

NAICS

Seafood Product Preparation and Packaging (31171), Aquaculture (1125), Fish and Seafood Merchant Wholesalers (42446)

SIC

Prepared Fresh Or Frozen Fish & Seafoods (2092)

akta.pro primary industry

Aquaculture Harvest, Processing & Packing (Farmed Finfish/Shellfish; On-Farm Plants) (AFANADAL)

akta.pro secondary industries

Fresh & Frozen Seafood Fillets (Portioned, Skinless/Boneless) (AFANALAA), Meat, Poultry & Seafood Wholesale (AFAIABAF), Live Seafood & Tank-Based Distribution Wholesale (AFAIADAI)

Keywords

• Farmed Atlantic salmon
• Salmon aquaculture
• Seafood processing
• Salmon feed production
• Value-added seafood

Headquarters

HQ city

Bergen

HQ country

Norway

HQ region

Europe

Offices12 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Salmon Farming: Core business: Farm-raised Atlantic salmon production. Mowi is the world's largest Atlantic salmon farmer with operations in Norway, Scotland, Ireland, Faroes, Iceland, Canada, and Chile. Harvest volumes of 559,000 tonnes in 2025, expected to reach 605,000 tonnes in 2026.
2. Consumer Products: Value-added salmon products including whole fish, fillets, steaks, smoked salmon, burgers, and tartars. Products sold under MOWI brand and other brands including Ducktrap. Downstream processing business delivered operational EBIT of EUR 197 million in 2025.
3. Mowi Feed: Feed division producing salmon feed at factories in Norway and Scotland. Strategic partnership with Skretting/Nutreco for feed formulation while Mowi retains production. Expected EBITDA contribution of NOK 825 million in 2026. Total expected feed sales of 650,000 tonnes in 2026.
4. Trading & Bulk Sales: Wholesale and bulk salmon product sales to B2B customers including retailers and foodservice operators.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Mowi is the world's largest producer of farm-raised Atlantic salmon, operating a fully integrated value chain from proprietary genetics and feed production through sea farming to processing and global distribution. It supplies whole fish, fillets, smoked salmon, burgers, and other value-added salmon products under the MOWI brand and sub-brands (Ducktrap, Marine Harvest by Mowi, MOWI Signature) to retail, foodservice (horeca), and industrial customers in over 70 countries. The company also runs an internal feed division (Mowi Feed) producing salmon feed in partnership with Skretting/Nutreco, and a downstream consumer products business with 41 processing facilities across 19 countries.

Product overview

Mowi is a fully integrated global seafood company and the world's largest producer of farm-raised Atlantic salmon, organized into three business areas: Feed, Farming, and Sales & Marketing. The company's product portfolio centers on the MOWI brand, which encompasses fresh, smoked, and frozen salmon products across retail, foodservice, and industrial segments. Sub-brands include Ducktrap (premium smoked seafood from Maine), Marine Harvest by Mowi (regional US brand being transitioned), and MOWI Signature (foodservice premium line). Value-added offerings include MOWI Fjord Norwegian Salmon Burgers and Ducktrap Hot Honey Atlantic Salmon. Supporting the farming operations are Mowi Feed (internal feed production via strategic partnership with Skretting/Nutreco) and Mowi Consumer Products (downstream processing with 41 facilities). The company also operates Smart Farming technology platform as part of Mowi 4.0 for digital monitoring and automation across the value chain.

Differentiator

Problem solved

Functional benefit

Brands

• MOWI Signature: Accessible premium fresh Atlantic salmon Norwegian & Scottish line designed for foodservice professionals
• Ducktrap
• MOWI Fjord Norwegian Salmon Burgers
• Ducktrap Hot Honey Atlantic Salmon

Products and services

• MOWI Brand Salmon Mowi's primary consumer brand for farm-raised Atlantic salmon sold across fresh, smoked, and frozen categories in retail, foodservice, and industry segments. The MOWI brand is present in 23 countries and was expanded with branded volumes up 30% in 2025.
• Ducktrap Smoked Salmon Premium smoked seafood brand headquartered in Maine, specializing in cold smoked and smoke roasted Atlantic salmon products as part of Mowi CP of Americas portfolio.
• MOWI Signature Accessible premium fresh Atlantic salmon Norwegian and Scottish line designed for foodservice professionals. Launched May 2025 as a targeted foodservice offering.
• MOWI Fjord Norwegian Salmon Burgers Premium salmon burger product made from Norwegian salmon, launched at Natural Products Expo West 2026 and at select Sam's Club stores in May 2025, targeting health-conscious consumers seeking convenient protein options.
• Ducktrap Hot Honey Atlantic Salmon Hot honey flavored smoked Atlantic salmon product line available in cold smoked and smoke roasted formats. The Hot Honey Smoke Roasted variety earned the Good Housekeeping Seal.
• Mowi Feed Mowi's internal feed division producing fish feed for salmon at every life stage. Operates two state-of-the-art feed factories in Norway and Scotland, producing feed based on Skretting's formulation under strategic partnership.
• Mowi Consumer Products (Primary and Secondary Processing) Mowi's downstream processing business encompassing primary and secondary processing of salmon into value-added products. Operates 41 processing facilities across 19 countries, delivering record volumes of 265,000 tonnes product weight in 2025.
• Trading & Bulk Sales Mowi's wholesale and bulk salmon trading operations, serving retail, foodservice, and industrial customers globally with whole fish and processed products.
• Value-Added Products Mowi's processed salmon products including fillets, steaks, hot- and cold-smoked salmon, burgers, and tartars, offered under the MOWI and sub-brand portfolios.
• Mowi Salmon Farming (Atlantic Salmon) Mowi's core sea-farming business producing farm-raised Atlantic salmon across Norway, Scotland, Ireland, Faroes, Iceland, Canada, and Chile. Harvest volumes of 559,000 tonnes in 2025, expected 605,000 tonnes in 2026.

Quantifiable outcome

• Survival rate improvement up to 50% through post-smolt strategy
• +4 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability7 records

Feature6 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• TidalX AIcoreTechnology or Integration · 5 June 2026Mowi and TidalX AI expanded their existing collaboration to include Mowi's genetics program, extending AI-powered tracking technology from farm operations into breeding. The technology allows individual fish to be tracked without physical tags, providing continuous data on growth, disease resistance, and welfare to improve breeding decisions. TidalX AI spun off from Alphabet's X project as an independent company in 2024.
• Torghatten AquacoreStrategic or Co-development Partner · 10 March 2026Mowi entered transaction agreement to acquire all of Torghatten Aqua AS's salmon farming seawater business in Northern Norway, including licenses and assets. Will pay NOK 293 million (EUR 26 million) upon closing with expected annual harvest of around 4,500 GWT from acquired licenses.
• Skretting/NutrecocoreStrategic or Co-development Partner · 22 December 2025Strategic and industrial partnership where Mowi produces feed based on Skretting's feed formulation. Expected to deliver more than NOK 650 million (EUR 55 million) in annualised net cost savings through improvements in feed formulation, recipes, procurement, and logistics. Mowi retains ownership of its feed factories in Norway and Scotland while gaining access to Skretting's R&D and procurement capabilities. Total EBITDA contribution expected to exceed NOK 1,475 million (EUR 125 million).
• Salmones AustralcoreStrategic or Co-development Partner · 22 December 2025Chilean salmon farming partner for AKVA's low-emission solar-powered salmon cage projects, with installations underway at Salmones Austral facilities.
• AlottacoreTechnology or IntegrationNorwegian energy firm Alotta developed solar-paneled cages and pontoons for low-emission salmon farming. Installed at Mowi Chile facilities with additional projects underway.
• Fjord MaritimecoreTechnology or IntegrationAquaculture technology company partnering with Alotta and Mowi on low-emission salmon farming technology through solar-paneled cages and pontoons.
• Chef Alex TrimminorGTM or Marketing PartnerMichelin-trained chef collaboration to inspire consumers with salmon recipes and content through cooking demonstrations at trade shows like Expo West and social media channels. Chef Trim trained at Michelin-starred restaurants including Alinea in Chicago.
• Celebrity Chef George DuranminorGTM or Marketing PartnerCelebrity chef preparing live demonstrations at Seafood Expo North America 2026 Food Innovation Pavilion to showcase Mowi's salmon products across retail, foodservice, and culinary innovations.
• Nova SeacoreStrategic or Co-development PartnerMowi increased ownership from 49% to 95% in Nova Sea AS, completing full acquisition. Nova Sea brand continues to operate in Northern Norway salmon farming region. Transaction valued at NOK 16 billion with expected annual synergies of NOK 400 million. Nova Sea merged into Mowi operations in March 2026.
• Arctic FishcoreStrategic or Co-development PartnerMowi entered share purchase agreement to acquire 51.28% of Icelandic salmon farmer Arctic Fish for NOK 1.88 billion (USD 180.8 million, EUR 182.9 million). Arctic Fish operates 10 ASC-certified sites in Iceland's West Fjords with maximum-allowed biomass of 27,100 metric tons.
• CP AxtracoreStrategic or Co-development PartnerMowi opened first processing plant in Thailand in partnership with CP (likely CP Axtra), marking expansion into key Asian market for salmon products.
• DucktrapcoreStrategic or Co-development PartnerPremium smoked seafood company headquartered in Maine, operating as Mowi subsidiary. Launched new Hot Honey flavored smoked Atlantic salmon product line in cold smoked and smoke roasted formats.

Scale indicators23 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• SalMar ASA: Norwegian Atlantic salmon farmer and one of the world's largest producers, with operations in Norway, Iceland, and Scotland. Directly comparable to Mowi in species, geography, vertical integration, and end markets (retail, foodservice, value-added).
• Lerøy Seafood Group: Norwegian seafood group producing farmed Atlantic salmon, trout, whitefish, and value-added products. Comparable in farming geography (Norway) and downstream branded processing, with overlapping retail and foodservice channels.
• Cermaq: Norwegian-headquartered salmon farmer owned by Mitsubishi, operating in Norway, Chile, and Canada. Directly comparable in species, farming geographies (notably British Columbia, where it shares regulatory exposure with Mowi), and B2B sales model.
• Bakkafrost: Faroese vertically integrated salmon farmer with own feed division and value-added processing. Comparable to Mowi across farming, feed, and downstream branded salmon products, with similar exposure to salmon price cyclicality.
• Grieg Seafood ASA: Norwegian-headquartered Atlantic salmon farmer with operations in Norway, Scotland, and Canada. Directly comparable species, geography, and customer base; smaller scale than Mowi but similar value chain exposure.
• Cooke Aquaculture: Canadian privately held salmon and seafood producer with operations in Atlantic Canada, the U.S., Chile, and Scotland. Comparable vertical integration from farming through value-added processing and direct overlap with Mowi in Atlantic Canada and Scotland.

Emerging players

• Atlantic Sapphire: Land-based (RAS) Atlantic salmon farmer pursuing a different production model. Compares to Mowi on species and end-product, but its land-based tech represents an emerging alternative to Mowi's open-net and post-smolt strategy.
• AquaBounty Technologies: Land-based genetically engineered salmon producer focused on indoor RAS facilities in the U.S. and Canada. Compares to Mowi on species and product category, but represents a niche technology-driven alternative to traditional ocean-based farming.

Broad incumbents

• Maruha Nichiro: Japan's largest seafood company with a broad portfolio spanning wild-caught, farmed salmon/trout, surimi, and processed foods. Comparable as a global incumbent in salmon supply chains and Japanese retail/foodservice, though not a specialist salmon farmer.
• Thai Union Group: Global seafood processor and canned tuna leader with growing salmon and value-added exposure. Comparable as a broad incumbent seafood processor with retail and foodservice channels overlapping Mowi's downstream business.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights1 record

Customer concentration

• YouTubeyoutube.com/mowi
• LinkedInlinkedin.com/company/mowiglobal

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries6 records

Funding overview

Funding rounds2 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mowi