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Global COD Market to Grow at 5.43% During 2022-2027, Impelled by Rising Consumption of Seafood

Published on Sep 26, 2022

According to the latest report by IMARC Group, titled "COD Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global COD market is expected to grow at a CAGR of 5.43% during 2022-2027. Cod fish, commonly known as COD, is a cold-water fish that generally belongs to the Gadidae family. It is dark-spotted with two anal fins, three dorsal fins and a chin barbel. It is a voracious migratory fish that feeds largely on various invertebrates and other fishes. Commonly found near the sea bottom, ranging from deep waters to inshore regions, COD is popular for its edible flesh and liver oil. It is popular in various cuisines across the globe, wherein it is widely prepared by grilling, frying, broiling, baking and steaming. It contains numerous essential nutrients, including minerals, vitamins and healthy fats, that are beneficial for the healthy development of the consumers.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global COD Market Trends:

The global market is primarily driven by the rising consumption of seafood among the masses. This can be attributed to the growing health consciousness and the increasing preference for leading a healthy lifestyle among individuals. In line with this, the shifting preference toward protein-rich diet due to the changing dietary patterns of the masses is creating a positive market outlook. Along with this, significant growth in the food and beverage sector, coupled with the proliferation of quick service restaurants (QSRs) and food joints, is providing a boost to the sales of COD fish across the globe. Moreover, numerous leading players are heavily investing in launching frozen variants of COD fishes, thus creating lucrative growth opportunities in the market. Other factors, including the easy product availability via online and offline organized retail channels, the advent of home delivery models and the development of aggressive marketing strategies and promotional campaigns, are also positively influencing the market growth.    

Market Summary:

  • On the basis of species, the market has been segmented into Atlantic, Pacific, Greenland and other cod fish.
  • Based on the source, the market has been segregated into farmed and wild capture.
  • On the basis of the product type, the market has been categorized into fresh, canned, frozen and others.
  • Based on the distribution channel, the market has been classified into institutional and retail (direct sales, supermarkets and hypermarkets, online stores and others).
  • On the basis of the consuming region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, South Korea, Japan and others), Europe (Portugal, the United Kingdom, Germany, Sweden, Spain, France and others), Latin America (Brazil, Chile and others) and the Middle East and Africa (the UAE, Saudi Arabia and others).
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include 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.
     

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