COD Market

Market Overview:

The global COD market size reached US$ 10.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 16.2 Billion by 2032, exhibiting a growth rate (CAGR) of 4.4% during 2024-2032.

Cod fish, commonly known as Cod, refers to a dark-spotted fish belonging to the Gadidae family. Some of the common variants of Cod include Atlantic cod fish, Pacific cod fish, Greenland cod fish, etc. Cod fish acts as a rich source of essential nutrients, such as vitamin A, vitamin B-12, vitamin D, vitamin E, protein, niacin, omega-3 fatty acids, phosphorus, etc. As a result, it helps in lowering blood cholesterol, boosting immunity, controlling blood pressure, reducing the risk of cardiovascular ailments, improving brain functioning, etc.

The rising consumer consciousness towards maintaining proper health and wellness is currently propelling the demand for cod liver oil, thereby augmenting the market growth. Moreover, the changing consumer preferences from high-calorie food items towards a protein-rich diet are also driving the consumption of cod fish. In line with this, the high prevalence of numerous lifestyle diseases, such as hypertension, obesity, arthritis, etc., is further catalyzing the product demand across the globe. Additionally, the hectic work schedules and sedentary lifestyles of the consumers are augmenting the need for processed, canned, and chilled cod fish with prolonged shelf life and easy storage benefits. Apart from this, the extensive utilization of cod liver oil in the pharmaceutical industry due to the presence of numerous bioactive ingredients, including Eicosapentaenoic Acid (EPA) and Docosahexaenoic Acid (DHA), is also fueling the market growth. Moreover, the expanding non-food applications of cod liver oil in manufacturing skin nourishment creams, gels, lotions, etc., are further bolstering the demand for cod fish. Besides this, the introduction of various innovative aquaculture practices for enhancing productivity and controlling disease outbreaks in cod fish species is positively influencing the global market. In the coming years, the emergence of organic product variants due to the growing incidences of foodborne illnesses caused by pathogens present in conventionally cultured cod fish will continue to drive the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global COD market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on species, source, product type and distribution channel.

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
     

Breakup by Consuming Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • South Korea
  • Japan
  • Others
• Europe
  • Portugal
  • United Kingdom
  • Germany
  • Sweden
  • Spain
  • France
  • Others
• Latin America
  • Brazil
  • Chile
  • Others
• Middle East and Africa
  • UAE
  • Saudi Arabia
  • Others
     

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being 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 and Norsk Sjømat AS.

Report Coverage: