This paper gives an overview of the development in the global salmon and trout aquaculture industry over the last couple of decades. With the growth in production from a mere 13,000 t in 1980 to 1,105,000 t in 2000, a number of structural changes have occurred. Here we focus on the changes that have taken place on the production and market side of the industry. This includes issues such as production volume, technological changes, market structures and marketing. Moreover, lessons that can be learned from the development of salmon and trout aquaculture of relevance to the farming of other species are also discussed.