Tilapia Market report is segmented on Catch type, product type, species and by regional & country level. Based upon catch type, market is segmented into Farmed and wild capture. On the basis of product type, market is segmented into Frozen Fillets, Whole Fish, Fresh Fillets, and Others. Based upon species, market is classified into Nile Tilapia, Tilapias Nei, Blue Nile Tilapia, Mozambique Tilapia, and Others.
Tilapia Market is valued at USD 1.4 Billion in 2018 and expected to reach USD 2.1 Billion by 2025 with CAGR of 5.5% over the forecast period.
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Market Analysis of Tilapia-
Tilapia is a freshwater fish found in shallow water, ponds, river, lakes and others; it is from Cichlidae family. It is one of the most common fish which is harvested and consumed all over the world. It is largely produced in china and exported to various different countries. It has very subtle taste and it is rich in proteins, iron, vitamin D, selenium, vitamin B and various other minerals. Tilapia is most common in Asian and American countries and it has a great significance. It is also a great substitute for the expensive fishes like salmon.
The regions covered in this market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players –
Some major key players for market are Baiyang Aquatic Group, Beihai Evergreen Aquatic Product Science & Technology Co. Ltd., Hainan Xiangtai Fishery Co., Ltd., Mazzetta Company, LLC., Blue Ridge Aquaculture, Inc., Regal Springs Tilapia, Ananda Aqua Exports Private Limited, North Atlantic Fish Co., Inc., Guangdong Gourmet Aquatic Products Co. Ltd., and Netuno Internacional S/A.among others.
Increasing aquaculture and good resistance with the disease is the key factor which helps Market to grow.
There are various factors expected to support the growth of tilapia market over the forecast period one of the major factor is increasing aquaculture activities. There is an increase in awareness about aquaculture and there are various initiatives run by the government which supports the aquaculture and promote the growth of market. Moreover, the high disease resistance and subtle taste has increased the farming of tilapia fish and it is easily available to the small scale farmers. Furthermore, increase in awareness among people about protein rich diet and inexpensive nature of tilapia fish makes it much affordable to the customer as compared to expensive fishes such as salmon and others. The technological advancement in the genetic technology and breeding may provide ample opportunities for the market in the near future and expected to drive the growth of market over the forecast period. However, the contamination risk and backdrop in import activities can cause production loss which may hamper the growth of market.
North America is expected to dominate the Market.
North America accounted for largest share to dominate the Tilapia market. The presence of developed countries such as U.S. Canada and increased awareness about protein rich diet among individuals support the growth of market. Moreover, increase in trade practices and changing food habits has also increased the consumption of canned tilapia is also gaining traction over the forecast period. Europe is expected to be the second largest market for tilapia due to the increased demand of inexpensive protein sources and its easy availability coupled with genetic improvement by the help of technology and breeding are expected to drive the growth of market. Asia Pacific is expected to develop rapidly over the forecast period due to presence of developed countries such as China, India and others. Moreover, the increased production of tilapia in China coupled with increased in government initiatives for aquaculture is expected to further promote the growth of market over the forecast period. Latin America is expected to develop moderately due to high popularity of tilapia in the region. However, Africa and Middle East is expected to be experience the considerable growth over the forecast period.
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Market Segmentation –
- Nile Tilapia
- Tilapias Nei
- Blue Nile Tilapia
- Mozambique Tilapia
By Product Type
- Frozen Fillets
- Whole Fish
- Fresh Fillets
By Catch Type
- Wild Capture
By Regional & Country Analysis:
- North America
- Asia Pacific
- Southeast Asia
- Latin America
- Middle East and Africa
- Rest of Middle East and Africa
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