Tilapia Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Tilapia Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

The global tilapia market is experiencing a steady growth as an increasing number of consumers recognize the health benefits of including this fish in their daily diets. Tilapia is known for being an excellent source of essential nutrients such as phosphorus, B12, potassium, selenium, and niacin. While it has long been a staple in tropical and subtropical diets, its popularity is now spreading to other parts of the world. Tilapia's affordability, rich nutrients, and availability in fresh and frozen formats have contributed to its global preference. Fairfield Market Research's latest report projects a positive outlook for the market as healthy living and conscious consumption become priorities for many.

Fish Farming Drives Tilapia Market Growth

The rise of aquaculture is expected to have a significant impact on the global tilapia market. WorldFish predicts a 40% increase in aquaculture by 2030 to meet the growing demand for fish consumption. In light of the food crisis, fish farming will play a crucial role in boosting tilapia cultivation. The ease of rearing tilapia makes it a favored choice for fish farmers, particularly in freshwater environments. As a natural protein source, tilapia farming is expected to gain momentum in the coming years.

Growing Demand for Farmed Tilapia

The demand for farmed tilapia is projected to surge in the coming years due to its widespread availability for regular consumption. As tilapia becomes a heavily farmed fish, its consumption is expected to rise significantly during the forecast period. Tilapia farming is likely to expand in tropical countries where the species thrives in warmer weather. This is expected to drive higher consumption in countries like India, China, and other Southeast Asian nations.

Nile Tilapia Leading the Way

Among tilapia species, the Nile tilapia is anticipated to outperform others due to its ease of farming. Requiring a minimum temperature of 24°C for breeding, the Nile tilapia is simple to rear, making it suitable for farming beyond tropical regions with minimal temperature control. Large-scale aquaculture of Nile tilapia is expected to improve its affordability, further boosting its sales during the forecast period. As a result, the Nile tilapia segment is expected to remain ahead of other species, including Mozambique tilapia, blue tilapia, and Wami tilapia.

Asia Pacific Driving the Global Tilapia Market

Geographically, the Asia Pacific region is set to lead the global tilapia market between 2021 and 2026. China, a key tilapia producer, is also a major supplier to the U.S. With its rich protein content, tilapia has gained significant attention in the Indian aquaculture market as well. According to the FAO, China contributed 66% to global tilapia production in 2020, reaching 4.55 million tonnes. India is also expected to play a critical role in the Asia Pacific tilapia market as fish consumption continues to increase.

Key Players

Some of the key players operating in the global tilapia market include Ananda Aqua Exports Pvt. Ltd., Guangdong Gourmet Aquatic Products Co. Ltd., Blue Ridge Aquaculture Inc., Regal Springs Tilapia, Hainan Xiangtai Fishery Co., Ltd., Baiyang Aquatic Group, Amyco Group Limited., Netuno Internacional SA., Beihai Evergreen Aquatic Product Science & Technology Co. Ltd., and Mazzetta Company LLC.

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