IMARC Group’s report titled “COD Market Report by Species (Atlantic Cod Fish, Pacific Cod Fish, Greenland Cod Fish, and Others), Source (Farmed, Wild Capture), Product Type (Fresh, Canned, Frozen, and Others), Distribution Channel (Institutional, Retail), and Region 2025-2033” , The global COD market size reached USD 11.4 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 16.5 Billion by 2033, exhibiting a growth rate (CAGR) of 4.22% during 2025-2033.
Factors Affecting the Growth of the COD Industry:
Sustainable Sourcing and Ethical Consumption:
In 2024, the cod market is reeling from a sustainability surge. Consumers are tuning in to the environmental melody of their food choices. They're on the hunt for cod caught responsibly and farmed ethically. This green wave is fueling demand for sustainable cod options, making waves among suppliers and retailers alike. Prioritizing sustainability initiatives has never been more vital. Stricter regulations and certifications keep cod fishing and aquaculture on the right track. Together, these changes are harmonizing market dynamics in a fresh, eco-friendly rhythm.
Value-Added Products and Diversification:
The cod market in 2024 is experiencing a trend towards value-added products and diversification. Consumers crave more than basic cod fillets. Pre-marinated cuts, fish cakes, and ready meals now satisfy their appetite for convenience. This hunger fuels industry innovation as suppliers craft enticing new offerings. Meanwhile, cod's reach expands beyond dinner plates. Pet food and pharma firms drive market growth, tapping hidden opportunities in surprising sectors. Unconventional industries spark economic expansion, leveraging new potential for profit and innovation. As tastes evolve, so does the humble cod's place in our lives and economy.
Health and Wellness Trends:
The increasing focus on health and wellness in 2024 is positively impacting the cod market. Cod is recognized as a nutritious food source, rich in omega-3 fatty acids, protein, and other essential nutrients. Health-conscious consumers are turning to seafood, with cod emerging as a top pick. Its versatility and nutrition appeal to those seeking wellness through diet. This trend fuels cod's market growth, especially in regions prioritizing healthy eating. As eco-conscious consumers seek ocean-friendly fare, cod swims to the forefront of sustainable seafood choices, captivating mindful shoppers with its rising appeal.
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Leading Companies Operating in the Global COD Industry:
Aalesundfish AS
Alliance Seafood AS
ANDREAS BJØRGE SEAFOOD AS
Arctic Catch AS
Iceland Seafood International hf
Lerøy Seafood Group ASA
Norebo Holding JSC
Norges Sjømatråd AS
Norsk Sjømat AS
COD Market Report Segmentation:
Breakup by Species:
Atlantic Cod Fish
Pacific Cod Fish
Greenland Cod Fish
Others
Breakup by Source:
Farmed
Wild Capture
Breakup by Product Type:
Fresh
Canned
Frozen
Others
Breakup by Distribution Channel:
Institutional
Retail
Direct Sales
Supermarkets and Hypermarkets
Online Stores
Others
Regional Insights:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
COD Market Trends:
In 2024, the cod market is characterized by a combination of factors driving growth and shaping industry trends. Sustainability drives today's cod market. Consumers seek ethically sourced seafood, pushing producers to adopt responsible practices. Value-added products and market diversification fuel growth. Health-conscious shoppers turn to cod for its nutritional benefits. These forces reshape the industry, demanding innovation and consumer-focused strategies. As preferences evolve, the cod market adapts, balancing ecological concerns with economic opportunities. The future hinges on meeting these changing demands while ensuring long-term viability.
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