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

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
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • 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
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances