Industry Background:
Tilapia refers to the cichlid family which are mostly freshwater fish. It is the most important species in Coptodonini, and Oreochromini. Tilapia grows fast by consuming the cheap vegetarian diet. Also, it can live in a crowded water. Hence, these benefits makes it ideal for farming. Tilapia fish contains high proteins that is 26 grams and 128 calories per 100 grams of fish. In addition it is rich in vitamins and minerals such as niacin, phosphorous, selenium and potassium.
According to AMA Research, the market for Tilapia is expected to register a CAGR of 3.4% during the forecast period to 2030. This growth is primarily driven by Rising Demand from Athletes and Bodybuilders
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Food Products sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Baiyang Investment Group (China), Goulian Group (China), Hainan Qinfu Food (China), HAINAN XIANGTAI FISHERY (China), Zhenye Fish&Foods Group (China) and China Kunyu industrial company limited (China), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In June 2023, a new tilapia strain was developed in Kenya. Tilapia F8, produced by the Kenya Marine and Fisheries Research Institute (KMFRI) and the Kenya Agriculture Livestock Institute (Kalro), grows rapidly, matures swiftly, and is resistant to fungal and viral infections.
In February 2024, GenoMar introduced a premium tilapia line in Brazil. The GenoMar Genetics group provides tilapia genetics through AquaAmerica, Aquabel, and Genomar. The range was previously accessible in Asia but may now be supplied in Brazil due to the establishment of an innovative breeding facility in Tocantins.The market of Tilapia consists of emerging players who are looking to supply the products in various geographic regions. The emerging economies are to estimate positive growth due to the factors such increasing demand for processed foods and rapid expansion of aquaculture in upcoming years
Regulatory Insights:
According to Food and Drug Administration (FDA), imports in United States accounts for 91% of all seafood sold. Also, aquaculture accounts for 50% of those sea food imports. In recent years the consumption of sea food is not increased. However, the consumers prefer mostly farm raised species, with farm raised shrimp, salmon and tilapia accounting for more than half of all seafood consumed in the United States.
Influencing Trend:
Inclination of Consumers towards the Protein Rich Food
Market Growth Drivers:
Rising Demand from Athletes and Bodybuilders and Increasing Demand for Processed Food
Challenges:
Lack of Breeding Technology in Developing Economies
Restraints:
Availability of Alternative Source of Protein and Rising Concerns for Production Loss Owing to Lower Appetite of Tilapia and Tilapia Lake Virus Infection
Opportunities:
Rising Popularity of Sea Food among the Consumers and Rapid Expansion of Aquaculture
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Tilapia Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Tilapia Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Tilapia players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Tilapia Study Sheds Light on
The Tilapia Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Tilapia industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Tilapia industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.