Groundfish

Global Groundfish Market to Reach US$53.7 Billion by 2030

The global market for Groundfish estimated at US$40.9 Billion in the year 2024, is expected to reach US$53.7 Billion by 2030, growing at a CAGR of 4.6% over the analysis period 2024-2030. Alaska Pollock, one of the segments analyzed in the report, is expected to record a 5.9% CAGR and reach US$19.2 Billion by the end of the analysis period. Growth in the Blue Whiting segment is estimated at 3.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$11.1 Billion While China is Forecast to Grow at 8.6% CAGR

The Groundfish market in the U.S. is estimated at US$11.1 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$11.3 Billion by the year 2030 trailing a CAGR of 8.6% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.8% and 3.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.7% CAGR.

Global "Groundfish" Market – Key Trends & Drivers Summarized

Why Is the Groundfish Market Central to the Global Seafood Economy?
Groundfish—species such as cod, haddock, pollock, and flounder that live and are harvested near the ocean floor—form a crucial segment of the global seafood industry. Valued for their mild flavor, firm texture, and culinary versatility, groundfish are staples in both retail and foodservice channels across North America, Europe, and Asia. As consumer demand for high-protein, low-fat animal products continues to rise, groundfish offer a widely accessible and health-conscious seafood option. Their importance is not only economic—supporting thousands of fishing jobs and processing industries—but also nutritional, providing omega-3 fatty acids, essential vitamins, and minerals to populations worldwide.

What Trends Are Shaping the Catching, Processing, and Distribution of Groundfish?
Sustainability and traceability are becoming central to the groundfish market, with certification programs like MSC (Marine Stewardship Council) and government quotas driving responsible harvesting practices. Advanced fishing techniques, vessel monitoring systems, and electronic catch documentation are improving resource management and supply chain transparency. Processing innovations—such as automated filleting, flash freezing, and vacuum-packing—are enhancing product quality, shelf life, and distribution efficiency. Value-added products such as breaded fillets, frozen meals, and protein-rich snacks are gaining popularity in retail, while international cuisines are expanding groundfish’s appeal in global foodservice menus. Online grocery platforms are also contributing to direct-to-consumer growth in packaged groundfish products.

Which Regions and Markets Are Fueling Global Groundfish Trade?
The North Atlantic remains a dominant source of groundfish, with countries like Norway, Iceland, Canada, and Russia leading in both wild catch and export volume. The United States is a major producer and consumer, with Alaskan pollock among the world’s most harvested fish. In Europe, the UK and northern nations maintain strong demand for cod and haddock, integral to traditional diets and fast-food culture. In Asia-Pacific, China plays a central role in processing and re-exporting groundfish, while Japan and South Korea maintain robust domestic consumption. Latin America, particularly Chile and Argentina, is emerging as both a production hub and an export region for select groundfish species.

What Are the Key Growth Drivers and Barriers in the Groundfish Market?
The growth in the groundfish market is driven by rising global seafood consumption, increasing demand for lean protein alternatives, advancements in sustainable fishing practices, and the expansion of cold chain logistics. Government support for responsible fisheries and consumer preference for traceable, eco-labeled seafood are strengthening long-term supply chains. However, the sector faces constraints such as climate-induced stock variability, overfishing concerns, trade regulations, and the geopolitical complexities of shared fishing zones. Competition from aquaculture and plant-based seafood alternatives also presents future challenges. Nevertheless, with ongoing investment in sustainability, product development, and market diversification, groundfish remains a foundational category within the global seafood economy.

SCOPE OF STUDY:

The report analyzes the Groundfish market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Type (Alaska Pollock, Blue Whiting, Atlantic Cod, Hake, Other Types); Application (Direct Retail Application, Food Processing Application)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 48 Featured) -

• Akai Foods, Inc.
• American Seafoods Group LLC
• Brim hf.
• Cooke Aquaculture
• Dongwon Industries
• F.C.F. Fishery Co.
• High Liner Foods
• Icelandic Group
• Lerøy Seafood Group ASA
• Marine Harvest ASA
• Maruha Nichiro Corporation
• Mowi ASA
• Nissui Corporation
• Nomad Foods Ltd
• Nueva Pescanova
• Pacific Seafood Group
• Performance Food Group
• Royal Greenland
• Samherji hf.
• Thai Union Group
• Trident Seafoods Corporation
• Young’s Seafood Limited

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