Groundfish - Global Strategic Business Report

The global market for Groundfish was estimated at US$40.9 Billion in 2024 and is projected to reach US$53.7 Billion by 2030, growing at a CAGR of 4.6% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Groundfish market.

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.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Alaska Pollock segment, which is expected to reach US$19.2 Billion by 2030 with a CAGR of a 5.9%. The Blue Whiting segment is also set to grow at 3.5% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, valued at $11.1 Billion in 2024, and China, forecasted to grow at an impressive 8.6% CAGR to reach $11.3 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Groundfish Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Groundfish Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Groundfish Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of players such as Akai Foods, Inc., American Seafoods Group LLC, Brim hf., Cooke Aquaculture, and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 48 companies featured in this Groundfish market report include:

• 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

This edition integrates the latest global trade and economic shifts as of June 2025 into comprehensive market analysis. Key updates include:

• Tariff and Trade Impact: Insights into global tariff negotiations across 180+ countries, with analysis of supply chain turbulence, sourcing disruptions, and geographic realignment. Special focus on 2025 as a pivotal year for trade tensions, including updated perspectives on the Trump-era tariffs.
• Adjusted Forecasts and Analytics: Revised global and regional market forecasts through 2030, incorporating tariff effects, economic uncertainty, and structural changes in globalization. Includes segmentation by product, technology, type, material, distribution channel, application, and end-use, with historical analysis since 2015.
• Strategic Market Dynamics: Evaluation of revised market prospects, regional outlooks, and key economic indicators such as population and urbanization trends.
• Innovation & Technology Trends: Latest developments in product and process innovation, emerging technologies, and key industry drivers shaping the competitive landscape.
• Competitive Intelligence: Updated global market share estimates for 2025, competitive positioning of major players (Strong/Active/Niche/Trivial), and refined focus on leading global brands and core players.
• Expert Insight & Commentary: Strategic analysis from economists, trade experts, and domain specialists to contextualize market shifts and identify emerging opportunities.
• Complimentary Update: Buyers receive a free July 2025 update with finalized tariff impacts, new trade agreement effects, revised projections, and expanded country-level coverage.