According to Future Market Insights (FMI), the worldwide Cod Fish Market is valued at USD 1,678.9 million in 2023 and it is anticipated to reach USD 3,241.4 million by 2033. Over the next decade, global Cod Fish demand is likely to increase at a CAGR of 6.8%.
Cod fish is prized for its high protein and low fat and carbohydrate content, making it ideal for use in various food products and processing applications. It’s commonly found in fish fillets, fish dinners, and fish finger snacks. Additionally, cod fish is essential in producing cod liver oil, which is rich in omega-3 fatty acids, vitamin A, and vitamin D, offering numerous health benefits. Research indicates that cod liver oil supplements can help prevent heart attacks and improve cardiovascular health.
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Due to its high protein content, codfish is considered a lean protein and serves as an excellent alternative to meat products rich in protein. Pacific cod are generally smaller, weighing between 2 and 6 kg, while Atlantic cod are larger, typically ranging from 5 to 10 kg. As a result, Pacific cod are usually sold directly to consumers in smaller quantities at retail outlets, whereas Atlantic cod are often sold in bulk to large restaurant chains and the food processing industry.
Key Takeaways from the Cod Fish Report:
- The global Cod Fish market is expected to reach a valuation of US$ 3,241.4 million by 2033.
- Global demand for Cod Fish is likely to soar at 6.8% CAGR over the forecast period.
- S. is projected to hold a dominant value share of 38.9% in the global market by 2033.
- The United States Cod Fish market is projected to reach a valuation of USD 1,260.9 million by 2033
- Japan is expected to register a CAGR of 4.0% over the forecast period and is expected to reach a market valuation of USD 307.9 Mn
Who is Winning?
Ice fish AS, Norway Royal Salmon ASA, Alliance Seafood AS, Andenesfisk AS, American Seafood Group, Norges Sjomatrad AS, Leroy Seafood AS, Norsk Sjomat AS, A.R.C. Hasson Trading, Aalesundfisk AS are key Cod Fish manufacturers listed in the report.
These companies are concentrating on expanding their portfolios by launching new products. They also use strategies such as advertisements, partnerships, acquisitions, agreements, and mergers to stay relevant in the market.
For instance,
• 2023: Schouten Europe, launched plant-based fish fillets which are made up of wheat and rice and are intended to replicate the taste and texture of whitefish ‘cod’
• 2023: Loki Foods, Loki Foods has released a statement in a press conference that they aim to make a ‘cod fish’ alternative with the help of plant-based sources that mimic the texture, content, and taste of actual cod fish
• 2022: Young’s Seafood, launched two-garlic themed products, Scottish Mussels in White Wine and Creamy Garlic Sauce and Creamy Garlic Topped Cod Fillets in the United Kingdom. The Cod fillets are also available on e-commerce platforms like Tesco.
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Cod Fish Market by Category
By Product Type:
Atlantic Cod Fish
Pacific Cod Fish
Greenland Cod Fish
Others
By Source:
Farmed
Wild Captured
By End Product:
Fresh
Canned
Frozen
By Sales Channel:
Direct Sales
Indirect Sales
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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