Cod Fish Market
Cod Fish Market Forecasts to 2032 - Global Analysis By Product Type (Fresh, Frozen, Canned, Dried, Smoked and Other Product Types), Packaging Type, Species Type, Distribution Channel, Application, End User and By Geography
|
Years Covered |
2024-2032 |
|
Estimated Year Value (2025) |
US $1.87 BN |
|
Projected Year Value (2032) |
US $3.10 BN |
|
CAGR (2025-2032) |
7.5% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Cod Fish Market is accounted for $1.87 billion in 2025 and is expected to reach $3.10 billion by 2032 growing at a CAGR of 7.5% during the forecast period. Cod fish is a popular, mild-flavored saltwater fish known for its firm, white flesh. It belongs to the Gadidae family and is typically found in cold, northern Atlantic waters. Cod is commonly used in various dishes, including fish and chips, and is renowned for its versatility in cooking. The fish has a slightly flaky texture and is rich in protein, low in fat, and a good source of vitamins and minerals such as vitamin B12, iodine, and omega-3 fatty acids. It has been a staple in many coastal cuisines for centuries.
Market Dynamics:
Driver:
Increasing consumer demand for healthy protein
The increasing consumer demand for healthy protein is driving growth in the market. As consumers prioritize nutritious, lean sources of protein, cod’s low-fat content and high levels of essential nutrients, like omega-3 fatty acids and vitamin B12, make it an attractive choice. Health-conscious individuals are opting for cod over other meats due to its mild flavor, versatility, and health benefits. This shift towards healthier eating is expected to further fuel the global demand for cod fish across various culinary sectors.
Restraint:
Overfishing and unsustainable capture fishing
Overfishing and unsustainable capture fishing in the market have led to severe ecological and economic consequences. Depleted cod populations disrupt marine ecosystems, affecting biodiversity and the food chain. Unsustainable practices also result in reduced fish stock availability, threatening long-term market stability. Additionally, overfishing damages habitats, harms other species, and strains coastal communities reliant on fishing for livelihoods, creating a cycle of environmental degradation and economic instability.
Opportunity:
Advancements in aquaculture
Advancements in aquaculture have significantly improved sustainability and efficiency. Innovations like selective breeding, improved feeding techniques, and disease management have increased yields while minimizing environmental impact. Recirculating aquaculture systems (RAS) allow for better water quality control, enhancing cod growth rates. Additionally, the use of sustainable fish feeds and eco-friendly farming practices has reduced the industry's carbon footprint, ensuring a more sustainable supply for the growing market demand.
Threat:
Environmental impacts and climate change
Environmental impacts and climate change have significantly affected the market. Rising ocean temperatures, ocean acidification, and habitat degradation disrupt cod migration patterns and breeding cycles, reducing fish stocks. These changes also alter the availability of food sources for cod, further stressing populations. As a result, fishing yields decrease, and the market faces instability. These environmental shifts also increase the vulnerability of coastal ecosystems and fishing communities that rely on stable cod populations.
Covid-19 Impact:
The COVID-19 pandemic severely impacted the market, disrupting supply chains and reducing demand. Lockdowns and restaurant closures led to a decline in global seafood consumption, particularly in the foodservice sector. Simultaneously, labor shortages and port closures hindered processing and distribution, creating delays and waste. The uncertainty caused by the pandemic also led to reduced investments in aquaculture, further straining an already vulnerable market and threatening long-term industry growth.
The frozen segment is expected to be the largest during the forecast period
The frozen segment is expected to account for the largest market share during the forecast period. Frozen cod plays a crucial role in the global cod fish market, offering extended shelf life and ease of transport. Freezing allows cod to be stored and distributed across long distances, making it accessible to international markets year-round. The demand for frozen cod has surged due to its convenience and affordability. However, the market faces challenges such as fluctuations in supply, climate change, and sustainability concerns around overfishing.
The food processing segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the food processing segment is predicted to witness the highest growth rate. This extends the shelf life and makes the fish more accessible to global markets. Processing methods, such as freezing, smoking, and salting, add value and cater to diverse consumer preferences. However, the industry faces challenges related to sustainability, maintaining quality, and managing waste, especially amidst declining cod populations and overfishing concerns.
Region with largest share:
During the forecast period, the North America region is expected to hold the largest market share driven by both wild-caught and farmed cod. Cod is a popular fish in the region, especially in countries like the U.S. and Canada, where it's used in dishes like fish and chips. However, overfishing, sustainability concerns, and climate change impact the market. The rise of aquaculture offers a more sustainable option, though the industry must address environmental and economic challenges.
Region with highest CAGR:
Over the forecast period, the Asia Pacific region is anticipated to exhibit the highest CAGR. The live fish trade, predominantly centered in Southeast Asia, has seen shifts with countries like Indonesia and Malaysia moving towards farmed live fish to meet the burgeoning demand. In the region, countries like South Korea, Australia, and New Zealand are experiencing an increased incorporation of omega-3 supplements, including cod fish oil, into daily diets. This trend is driven by a heightened awareness of health benefits associated with such products.
Key players in the market
Some of the key players in Cod Fish Market include Icelandic Group, Mowi ASA, Royal Greenland, Ocean Beauty Seafoods, Gortons of Gloucester, Clear Springs Foods, Trident Seafoods, Silver Bay Seafoods, High Liner Foods, Blue Harvest Fisheries, Thai Union Group, Glacier Fish Company, Bumble Bee Foods, Nomad Foods and Findus Group.
Key Developments:
In January 2025, Mowi ASA has entered into an agreement with Vigner Olaisen AS to acquire its controlling stake in Nova Sea AS, leveraging the strong joint position in one of the world’s best areas for salmon farming.
In January 2025, An Icelandic seafood group is preparing to launch a venture capital fund this year with the aim of raising $30-40 million (€29-39 million) to invest in early-stage startups. Blue Nova Ventures told IntraFish in a statement it will focus on investing in areas such as ocean technology and artificial intelligence (AI), marine biotechnology, maritime innovation, and sustainable fisheries and aquaculture.
Product Types Covered:
• Fresh
• Frozen
• Canned
• Dried
• Smoked
• Other Product Types
Packaging Types Covered:
• Bulk Packaging
• Individual Packaged Portions
• Eco-Friendly Packaging
Species Types Covered:
• Atlantic Cod Fish
• Pacific Cod Fish
• Greenland Cod Fish
• Other Species Types
Distribution Channels Covered:
• Specialized Fish Shops
• Supermarkets/Hypermarkets
• Online Retail
• Fish Markets
• Food service
Applications Covered:
• Fish Oil
• Restaurants
• Cod Liver Oil
• Dietary Preferences
• Collagen and Gelatin Production
• Other Applications
End Users Covered:
• Pharmaceutical
• Aquaculture
• Industrial
• Food Processing
• Household Consumption
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Cod Fish Market, By Product Type
5.1 Introduction
5.2 Fresh
5.3 Frozen
5.4 Canned
5.5 Dried
5.6 Smoked
5.7 Other Product Types
6 Global Cod Fish Market, By Packaging Type
6.1 Introduction
6.2 Bulk Packaging
6.3 Individual Packaged Portions
6.4 Eco-Friendly Packaging
7 Global Cod Fish Market, By Species Type
7.1 Introduction
7.2 Atlantic Cod Fish
7.3 Pacific Cod Fish
7.4 Greenland Cod Fish
7.5 Other Species Types
8 Global Cod Fish Market, By Distribution Channel
8.1 Introduction
8.2 Specialized Fish Shops
8.3 Supermarkets/Hypermarkets
8.4 Online Retail
8.5 Fish Markets
8.6 Food service
9 Global Cod Fish Market, By Application
9.1 Introduction
9.2 Fish Oil
9.3 Restaurants
9.4 Cod Liver Oil
9.5 Dietary Preferences
9.6 Collagen and Gelatin Production
9.7 Other Applications
10 Global Cod Fish Market, By End User
10.1 Introduction
10.2 Pharmaceutical
10.3 Aquaculture
10.4 Industrial
10.5 Food Processing
10.6 Household Consumption
10.7 Other End Users
11 Global Cod Fish Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Icelandic Group
13.2 Mowi ASA
13.3 Royal Greenland
13.4 Ocean Beauty Seafoods
13.5 Gortons of Gloucester
13.6 Clear Springs Foods
13.7 Trident Seafoods
13.8 Silver Bay Seafoods
13.9 High Liner Foods
13.10 Blue Harvest Fisheries
13.11 Thai Union Group
13.12 Glacier Fish Company
13.13 Bumble Bee Foods
13.14 Nomad Foods
13.15 Findus Group
List of Tables
1 Global Cod Fish Market Outlook, By Region (2024-2032) ($MN)
2 Global Cod Fish Market Outlook, By Product Type (2024-2032) ($MN)
3 Global Cod Fish Market Outlook, By Fresh (2024-2032) ($MN)
4 Global Cod Fish Market Outlook, By Frozen (2024-2032) ($MN)
5 Global Cod Fish Market Outlook, By Canned (2024-2032) ($MN)
6 Global Cod Fish Market Outlook, By Dried (2024-2032) ($MN)
7 Global Cod Fish Market Outlook, By Smoked (2024-2032) ($MN)
8 Global Cod Fish Market Outlook, By Other Product Types (2024-2032) ($MN)
9 Global Cod Fish Market Outlook, By Packaging Type (2024-2032) ($MN)
10 Global Cod Fish Market Outlook, By Bulk Packaging (2024-2032) ($MN)
11 Global Cod Fish Market Outlook, By Individual Packaged Portions (2024-2032) ($MN)
12 Global Cod Fish Market Outlook, By Eco-Friendly Packaging (2024-2032) ($MN)
13 Global Cod Fish Market Outlook, By Species Type (2024-2032) ($MN)
14 Global Cod Fish Market Outlook, By Atlantic Cod Fish (2024-2032) ($MN)
15 Global Cod Fish Market Outlook, By Pacific Cod Fish (2024-2032) ($MN)
16 Global Cod Fish Market Outlook, By Greenland Cod Fish (2024-2032) ($MN)
17 Global Cod Fish Market Outlook, By Other Species Types (2024-2032) ($MN)
18 Global Cod Fish Market Outlook, By Distribution Channel (2024-2032) ($MN)
19 Global Cod Fish Market Outlook, By Specialized Fish Shops (2024-2032) ($MN)
20 Global Cod Fish Market Outlook, By Supermarkets/Hypermarkets (2024-2032) ($MN)
21 Global Cod Fish Market Outlook, By Online Retail (2024-2032) ($MN)
22 Global Cod Fish Market Outlook, By Fish Markets (2024-2032) ($MN)
23 Global Cod Fish Market Outlook, By Food service (2024-2032) ($MN)
24 Global Cod Fish Market Outlook, By Application (2024-2032) ($MN)
25 Global Cod Fish Market Outlook, By Fish Oil (2024-2032) ($MN)
26 Global Cod Fish Market Outlook, By Restaurants (2024-2032) ($MN)
27 Global Cod Fish Market Outlook, By Cod Liver Oil (2024-2032) ($MN)
28 Global Cod Fish Market Outlook, By Dietary Preferences (2024-2032) ($MN)
29 Global Cod Fish Market Outlook, By Collagen and Gelatin Production (2024-2032) ($MN)
30 Global Cod Fish Market Outlook, By Other Applications (2024-2032) ($MN)
31 Global Cod Fish Market Outlook, By End User (2024-2032) ($MN)
32 Global Cod Fish Market Outlook, By Pharmaceutical (2024-2032) ($MN)
33 Global Cod Fish Market Outlook, By Aquaculture (2024-2032) ($MN)
34 Global Cod Fish Market Outlook, By Industrial (2024-2032) ($MN)
35 Global Cod Fish Market Outlook, By Food Processing (2024-2032) ($MN)
36 Global Cod Fish Market Outlook, By Household Consumption (2024-2032) ($MN)
37 Global Cod Fish Market Outlook, By Other End Users (2024-2032) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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