Tilapia Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Tilapia Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global tilapia market size reached US$ 8.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.2 Billion by 2028, exhibiting a growth rate (CAGR) of 3.38% during 2023-2028.

Tilapia belongs to the family ‘Cichlidae’ and is largely freshwater fish which dwells in shallow streams, ponds, rivers and lakes. Tilapia is one of the most consumed farmed fishes in the world. Historically, this versatile fish was of great importance in mainly African and the Middle Eastern regions. But now, it is consumed across the globe and gaining popularity in Asian and American countries. It is inexpensive and mild in taste which makes it a good substitute for expensive alternatives such as salmon.

The rapid expansion of aquaculture has catalysed the growth of the tilapia industry globally. Tilapia, being an ideal choice for fish farming, has now become the second most cultured species after carps. Since, it is omnivorous, hard and have good resistance to diseases, they are affordable and easy even for small farmers to grow. In addition to this, the growing health consciousness among people and demand for protein-rich diet also drive the demand for tilapia 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 aquaculture business are also stimulating the growth of the tilapia market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global tilapia market report, along with forecasts at the global and country level from 2023-2028. Our report has categorized the market based on farmed vs wild capture, species, product and sector.

Breakup by Farmed Vs Wild Capture:

Farmed
Wild Capture

Based on the farmed vs wild capture, farmed tilapia currently dominates the market.

Breakup by Region:

China
Indonesia
Egypt
Bangladesh
Philippines
Brazil
Thailand
Others

Based on the region, China currently holds majority of the market share in the global tilapia market.

Breakup by Species:

Nile Tilapia
Tilapias Nei
Blue Nile Tilapia
Mozambique Tilapia
Others

Breakup by Product:

Frozen Fillets
Whole Fish
Fresh Fillets
Others

Breakup by Sector:

Institutional
Retail

Based on the sector, the global tilapia market has been segmented into institutional and retail sector.

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.

Key Questions Answered in This Report

1. What is the expected growth rate of the global tilapia market?
2. What are the key factors driving the global tilapia market?
3. What has been the impact of COVID-19 on the global tilapia market?
4. What is the breakup of the global tilapia market based on the capture type?
5. What is the breakup of the global tilapia market based on the species?
6. What is the breakup of the global tilapia market based on the product?
7. What is the breakup of the global tilapia market based on the sector?
8. What are the key regions in the global tilapia market?