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obal Cod Fish Market Poised to Hit US$ 46,014.7 Million by 2033 Forecasted Growth from at 6.8% CAGR Insights by FMI
Global Cod Fish Market to Reach a Valuation of US$ 46,014.7 Million by 2033. According to Future Market Insights (FMI), the worldwide Cod Fish market is valued at US$ 1,678.9 million in 2023 and it is anticipated to reach US$ 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 used in multiple food products as well as in food processing due to its characteristic of high protein content and fewer fats and carbohydrates which make it an ideal fish to be used in Fish fillets, fish entrees, and fish finger foods. Additionally, Cod fish is also used in the manufacture of cod liver oil which is rich in vitamin A, vitamin D, and omega-3 fatty acids that have a wide range of health benefits. Studies suggest that the consumption of cod liver oil supplements helps in the prevention of heart attacks and improves cardiovascular health.
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Codfish is rich in protein content and is considered a lean protein. It acts as a good replacement for meat products that are consumed for protein. Atlantic cod are generally larger in size and weigh ~5-10kg whereas Pacific cods are smaller in size and weigh ~2-6kg. As a result of which Atlantic cods are generally sold in bulk to big restaurant chains and food processing industries and Pacific cods are generally sold directly to consumers in smaller quantities and at the retail level.
Key Takeaways from the Cod Fish Report:
The global Cod Fish marketis expected to reach a valuation of US$ 3,241.4 million by 2033.
Global demand for Cod Fish is likely to soar at 8% CAGRover 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 US$ 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 US$ 307.9 Mn
“There is an increase in demand for cod fish in seafood products due to their applications across various industries like food processing, and animal feed” – says a lead analyst at Future Market Insights (FMI)
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,
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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.
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
Charting the Future: Food Pathogen Testing Market to Surge to Projected US$ 49 Billion by 2033 Driven by Safety Concerns
The Food Pathogen Testing Market is witnessing strong growth due to the escalating concerns about food safety. The demand for pathogen detection solutions is driven by strict regulations and heightened awareness of foodborne illnesses. Additionally, the market is expected to expand even more as a result of technological advancements, increased investments in research and development, and a growing emphasis on preventive measures.
It is projected that the worldwide expense of testing for food pathogens will reach around US$ 21.7 billion by 2023. The global market for food pathogen testing is anticipated to grow at an amazing 8.5% annual rate of growth through 2033, according to Future Market Insights. The food pathogen testing market study report estimates that by the end of 2033, the total valuation might reach US$ 49 billion.
During this time, the use of food testing services rose due to the growing demand for packaged and processed foods. The need for food testing services has grown as a result of shifting eating patterns, lifestyle choices, and the acceptance of fast food restaurants.
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The rising issues related to food quality in various hotels and restaurants have catalyzed call services for food pathogen testing. Also, the spread of any such news on social platforms is anticipated to boost the adoption of food testing services.
Food safety testing is hampered by the demand for meeting test requirements (as defined by various regulations) for trading food products. Therefore, in-house testing has been marketed as a viable solution to food safety testing problems in many countries.
Key Takeaways from the Study Report
The United States is known for its higher adoption of food pathogen testing services which can be attributed to many foodborne disease outbreaks. Currently, it acquires up to 35% of the revenue share generated by the market globally.
The rate of adoption of food pathogen testing services is improving promisingly in the Asia Pacific region. However, the high occurrence of food safety incidents, rising food exports, and food trade have sufficiently advanced the market in China.
Technological achievements have secured numerous market opportunities for food pathogen testing companies in Japan. The country is a hub of technology and innovation. This includes food pathogen testing which is growing with continuous research & development
Competitive Landscape for the Market Players
SGS SA, Intertek Group, Eurofins Scientific, and Thermo Fisher Scientific are some leading players in the global food pathogen testing market. They are increasing food testing service sales through various distribution channels to expand the market size. The rising R&D activities and premium quality food items manufactured by top companies are further growing the demand.
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Recent Developments by the Food Pathogen Testing Industries
For example, Bureau Veritas Ltd. revealed that it had acquired Advanced Testing Laboratories (ATL) in June 2022. It is a leading company in the United States that aims to strengthen its position and grow across North America.
Crystal Diagnostics disclosed in February 2020 that the company has acquired a second patent from the United States Patent and Trademark Office. The patent was achieved for its unique liquid crystal technology for the quick and precise diagnosis of pathogens spreading foodborne infections.
Key Segments Covered by Food Pathogen Testing Industry Survey Report
Food Pathogen Testing Industry Segments by Contaminant Type:
E. Coli Contamination
Salmonella Contamination
Listeria Contamination
Campylobacters Contamination
Pesticide Contamination
Genetically Modified Contamination
Toxin Contamination
Other Contaminations
Food Pathogen Testing Industry Segments by Technology:
Food Pathogen Testing by Conventional Methods
by Agar Culturing Technology
by Polymerase Chain Reaction (PCR) Technology
by Other Technologies
Food Pathogen Testing by Rapid Methods
by Biosensor-based Technology
by Immunological-based Technology
by Other Technologies
Food Pathogen Testing Industry Segments by Application:
Fruits & Vegetables
Grains & Cereals
Processed Foods
Dairy Products
Meat, Poultry & Seafood Products
Other Products
Food Pathogen Testing Industry Segments by Region:
North America Market
Latin America Market
Europe Market
East Asia Market
South Asia and Pacific Market
Middle East and Africa (MEA) Market
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