The global cod fish market is poised for substantial growth, with projected sales soaring from USD 1,678.9 million in 2023 to a remarkable USD 3,241.4 million by 2033. This surge, forecasted at a notable CAGR of 6.8%, is driven by factors such as the nutritional benefits of cod fish, increasing consumption of on-the-go seafood products, and favorable government regulations. Cod fish, known for its adaptability and nutritional value, is experiencing rising demand across various regions, fueled by consumer preferences for clean-label, sustainable, and versatile seafood options.
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Cod Fish is used to manufacture cod liver oil which is rich in vitamin A, vitamin D, and Omega-3 Fatty Acids. Cod liver oil supports a number of vital systems, from vision to endocrine glands, bones, and the liver. Omega 3 fatty acids help in the improvement of cardiovascular health by increasing heart rate variability. Studies suggest that consumption of cod liver oil supplements helps in protection against heart attacks when coupled with a healthy lifestyle of exercising, maintaining weight, and getting enough sleep.
Key Trends – Cod Fish Market:
- Nutritional Benefits: Cod fish is valued for its nutritious flesh, low-fat content, and high protein levels, making it a popular choice among health-conscious consumers.
- On-the-Go Consumption: The popularity of fast-food products like ‘fish and chips’ is driving demand for cod fish, which is readily available and economically priced.
- Clean Label and Versatility: Modern consumers prefer seafood products without additives and appreciate the versatility of cod fish in various culinary applications.
- Regional Preferences: Countries like Denmark, Netherlands, and China lead in cod fish consumption, driven by cultural preferences and economic factors.
- Sustainable Practices: Cod fish is recognized as an environmentally sustainable option, meeting consumer demand for responsibly sourced seafood products.
Regional Analysis – Cod Fish Market:
- China: Emerging as a significant market for cod fish consumption, China is projected to reach a valuation of US$ 97.4 million by 2033, driven by growing seafood demand and production capabilities.
- United States: With a strong focus on health and nutrition, the US cod fish market is expected to surpass US$ 1.26 billion by 2033, supported by recommendations from organizations like the USDA.
- Europe: Traditional cod-consuming countries like Denmark and Sweden continue to drive demand in Europe, where cod fish is a staple in culinary traditions.
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Key Players – Cod Fish Market:
- Ice fish AS,Norway Royal Salmon ASA, Alliance Seafood AS, Andenesfisk AS, American Seafood Group, Norges Sjomatrad AS, Leory Seafood AS, Norsk Sjomat AS, A.R.C. Hasson Trading, Aalesundfisk As
Key Segmentation – Cod Fish Market:
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
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