With supplies of wild Atlantic cod set to drop even further and prices at record highs, the fast-growing farmed cod industry has plenty of opportunities in the coming years, according to key market players.

While the fledgling farmed cod industry is rapidly expanding in Norway, it will not be a product that will substitute or compete with its wild counterpart but rather be a “product on its own,” Christian Riber, CEO of Norcod, told IntraFish.

Although farmed cod will inevitably be sold in some similar markets – predominantly the fresh segment – it will have markets of its own such as in Asia and the United States, said Riber, and also be sold raw in the sushi markets where wild cod is not.