The global tilapia market currently enjoys a value of US$ 14.1 billion and is forecasted to reach a size of US$ 22.3 billion by the end of 2033. Global demand for tilapia fish is projected to increase at 4.6% CAGR over the next ten years.
Fact.MR, in its latest business intelligence study, depicts the nuts and bolts of the global Tilapia Market . The report presents detailed information regarding the drivers, restraints, opportunities and trends affecting market growth.
Each segment along with its sub-segment is analyzed in terms of value and volume. Further, the report elaborates the market behavior of each vendor operating in the Tilapia Market .
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Key findings of the Tilapia Market study:
- Regional breakdown of the Tilapia Market based on predefined taxonomy.
- Innovative manufacturing processes implemented by Tilapia vendors in detail.
- Region-wise and country-wise fragmentation of the Tilapia to grasp the revenue, and growth outlook in these areas.
- Changing preferences among consumers across various regions and countries.
- Factors (Positive and Negative) impacting the growth of the global Tilapia Market
Key Companies Profiled
- Netuno Internacional S/A
- Beihai Evergreen Aquatic Product Science & Technology Co. Ltd.
- Baiyang Aquatic Group
- Mazzetta Company LLC
- Hainan Xiangtai Fishery Co. Ltd.
- Guangdong Gourmet Aquatic Products Co. Ltd.
- Blue Ridge Aquaculture Inc.
- Regal Springs Tilapia
- Ananda Aqua Exports Private Limited
- North Atlantic Fish Co. Inc.
Growth Drivers:
- Increasing Global Demand for Seafood: As global populations continue to grow, there is a rising demand for seafood, including tilapia, which is considered a relatively affordable and mild-tasting fish. This increased demand is a significant driver of market growth.
- Health Conscious Consumers: Tilapia is often perceived as a healthy option due to its low levels of saturated fats and high protein content. Health-conscious consumers are choosing tilapia as a nutritious source of protein, which contributes to market growth.
- Affordability: Tilapia is generally more affordable than many other seafood options, making it accessible to a wide range of consumers. Its affordability is a key factor driving its popularity and market growth.
- Sustainability: Tilapia is often farmed using sustainable and environmentally friendly practices, such as pond-based aquaculture. As consumers become more aware of the importance of sustainable food sources, tilapia’s eco-friendly production methods contribute to its market growth.
- Technological Advancements: Advances in aquaculture technology and practices have led to increased efficiency and productivity in tilapia farming. Improved breeding techniques, water quality management, and disease control measures have boosted production, making tilapia more readily available in the market.
- Globalization of the Tilapia Industry: The tilapia industry has expanded globally, with production occurring in various countries. This globalization has led to a more diverse and widespread supply chain, meeting the demand for tilapia in different regions.
- Processed Tilapia Products: The market has seen an increase in the availability of processed tilapia products, such as fillets, nuggets, and value-added items like tilapia burgers and fish sticks. These convenient products cater to consumer preferences and drive market growth.
- Export Opportunities: Tilapia is a popular fish in international markets, and many countries export tilapia to meet global demand. Export opportunities have contributed to the growth of the tilapia market, particularly in regions where tilapia is not native.
- Rising Awareness of Tilapia’s Versatility: Tilapia’s mild flavor makes it a versatile ingredient in various cuisines, leading to increased usage in restaurants and home cooking. The discovery of new recipes and cooking methods further drives market growth.
- Government Support: In some regions, governments provide support and incentives to promote aquaculture and tilapia farming, leading to increased production and market growth.
Competitive Landscape
Key tilapia suppliers are focusing on expanding their business potential by acquiring new capital and launching new initiatives to meet the increasing demand for tilapia fish.
- In October 2022, Tilabras, a Brazilian tilapia fish producer announced that it had secured US$ 9.7 million from Ocean 14 Capital, a London-based private equity impact investment fund. The investment was made on the grounds of sustainability and environment conservation as Ocean 14 looks to expand its portfolio in the same direction and Tilabras practices sustainable aquaculture.
- In December 2022, FAI Farms, a multi-disciplinary team of farmers and scientists working on improving food security and maintaining sustainability announced the launch of its new free-to-use tilapia welfare application. The application was developed by FAI while working with farmers and scientists from China, Brazil, and Thailand. The app uses scientifically validated welfare indicators for nutrition, behavior, and fish health.
Key Segments Covered in Tilapia Industry Research
- By Form :
- Dried Tilapia Fillets
- Fresh or Chilled Tilapia Fillets
- Frozen Tilapia Fillets
- Frozen Whole Tilapia
- By Species :
- Nile Tilapia
- Blue Tilapia
- Mozambique Tilapia
- Wami Tilapia
- By Catch :
- Wild Catch
- Aquaculture
- By Sales Channel :
- Direct Sales
- Retail Sales
- Modern Trade
- Convenience Stores
- Specialty Food Stores
- Wholesale Stores
- Discount Stores
- Online Retail
- Other Retail Stores
- By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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Queries addressed in the Product Lifecycle Management market report:
- Why are the Tilapia Market players targeting region for increased product sales?
- What patented technologies are the players utilizing in the global Tilapia Market?
- Which regions are displaying the fastest growth in the Tilapia Market?
- What are the underlying micro- macroeconomic factors affecting the global Tilapia Market?
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