Tilapia is a genus of ‘Cichlidae family and is mainly freshwater fish that resides in shallow streams, ponds, rivers and lakes. Globally, Tilapia is one of the numerous consumed farmed fishes. Historically, this versatile fish was of prominent influence in mainly African and Middle Eastern provinces. But now, it is absorbed globally and gaining popularity in Asian and American countries. It is reasonable and mild in taste, making it a suitable replacement for costly options like salmon. According to Renub Research new report, Global Tilapia Market is expected to reach US$ 9.2 Billion by 2027.
The accelerated development of aquaculture has catalysed the growth of the tilapia industry globally. Being an ideal choice for fish farming, Tilapia has become the second most cultured species after carps. Since it is omnivorous, complex and has good resistance to diseases, they are affordable and accessible for small farmers to grow. The developing health awareness amongst people and desire for a protein-rich diet also drives Tilapia Fish Market’s market globally since it contains vitamin B, iron, vitamin D, selenium, and omega-3 fatty acids. Moreover, the improvements in genetic technology, selective breeding, and increasing government initiatives to support the aquaculture business globally is also are stimulating the tilapia market’s growth. As per our research findings, Worldwide Tilapia Market was US$ 7.9 Billion in 2020.
While demand for freshwater fish such as Tilapia is ever-growing, there are a few restraining factors that need tilapia suppliers’ attention. Tilapia fish are often vulnerable to Tilapia Tilapine virus or Tilapia lake virus, a negative-strand RNA virus that infects both the wild and aquaculture population Tilapia. Since there is no effective and affordable vaccine for this virus, but there are various precautionary and preventive measures and treatments. For instance, an Emergency Regional Consultation for Prevention and Management of Tilapia Lake Virus in the Asia Pacific region has been undertaken to prevent such a virus in Tilapia. The World Fish Center Organization has also taken the initiative to spread awareness among tilapia suppliers regarding this virus.
China is the top producer in terms of market & volume as well as exporter of tilapia fish. China accounts for the majority of the global market. Moreover, the increased production of Tilapia in China, coupled with increased government initiatives for aquaculture, is expected to promote further the market’s growth over the country’s forecast period. As per our analysis, Tilapia Industry globally is expected to grow with a CAGR of 2.20% from 2020 to 2027.
The U.S. is the chief importer of Chinese tilapia fish across the world. The popularity of tilapia fish increases in the U.S. due to its nutritional benefits. The tilapia fishes are enriched with proteins. The dietary advantages and health benefits of tilapia fish, coupled with the awareness among the consumers in the U.S., are increasing the demand for tilapia fish in the U.S.
Renub Research report titled “Global Tilapia Market, Forecast by Production Countries (China, Indonesia, Brazil, Philippines, Vietnam, Thailand, Colombia, Mexico, Costa Rica, and Israel), Import (United States, Israel, Germany, Spain, United Kingdom, Japan, Guatemala, Switzerland, Hong Kong, South Korea), Export (China, Indonesia, Honduras, Mexico, Taiwan, United States, Netherlands, Peru, Germany, Malaysia),” Company Analysis (Seatrade, Atlantic Capes Fisheries, Inc, Atalanta Corporation, Ideal Foods Ltd, Sea Delights) provides a complete analysis of Worldwide Tilapia Fish Market.
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Production – Market & Volume breakup of Top 10 Countries
- Costa Rica
Import – Market breakup of Top 10 Countries
- United States
- United Kingdom
- Hong Kong
- South Korea
Export – Market breakup of Top 10 Countries
- United States
All companies have been covered from 3 Viewpoints
• Recent Developments
- Atlantic Capes Fisheries, Inc
- Atalanta Corporation
- Ideal Foods Ltd
- Sea Delights
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