The global tilapia industry currently enjoys a value of USD 14.1 billion and is estimated to reach a size of USD 22.3 billion by the end of 2033, according to the report created and released by Fact.MR. Global demand for tilapia fish is expected to increase at 4.6% CAGR over the next ten years, they assured. The detailed research report on the global tilapia market focuses on the macro as well as microeconomic factors that are helping its development.
The report also concentrates on the regulatory framework that is shaping the future of the global market. Furthermore, the research report also makes not of the existing as well as prevailing pricing structure, emerging areas of applications, and imminent investment opportunities in the global market.
The tilapia study outlines the key regions – North America, Latin America, Europe and APAC – along with the countries contributing the most in the respective regions. Prominent players covered in this research are Netuno Internacional, Baiyang Aquatic Group, Regal Springs Tilapia, North Atlantic Fish, Fact.MR explained.
Also, the report presents detailed insights about each market player, including SWOT analysis, main market information, market share, revenue, pricing and gross margin.
Nile tilapia segment is expected to increase
In addition to the prediction of USD 22.3 billion by the end of 2033, some of the key takeaways from Fact.MR‘s Tilapia Market Study are that market for tilapia is anticipated to progress rapidly at a CAGR of 4.6% from 2023 to 2033 (forecast period); increasing health consciousness and growing demand for fish protein are prime factors propelling market growth; in addition, the Nile tilapia segment is expected to increase at a CAGR of 4% during the forecast period 2023-2033.
Also, the study assures that global tilapia software market is worth USD 14.1 billion in 2023.
Perfect low-cost aquaculture alternative
The market for tilapia is segmented into Nile tilapia, blue tilapia, Mozambique tilapia, and Wami tilapia. According to the report, the first of it will be the principal.
“At present, Nile tilapia is the most widely consumed species of tilapia across the world. This species is primarily found in the Latin American, African, and Middle Eastern parts of the world. Nile tilapia is preferred by a large number of people owing to its high advantages for farming from technique as well as ecological standpoints.”
In ponds, Nile tilapia is capable of feeding on phyto-plankton and requires very less maintenance, which makes it a perfect low-cost aquaculture alternative for farmers around the world. Demand for Nile tilapia fish is anticipated to evolve at 4% CAGR over the next ten years.
Initiatives to meet the increasing demand
The report states key tilapia suppliers are focusing on expanding their business potential by acquiring new capital and launching new initiatives to meet the increasing demand for tilapia fish.
For example, in October 2022, Brazilian tilapia fish producer Tilabras announced that it had secured USD 9.7 million from Ocean 14 Capital, a London-based private equity impact investment fund. The investment was made on the grounds of sustainability and environment conservation as Ocean 14 looks to expand its portfolio in the same direction and Tilabras practices sustainable aquaculture.
In the case of FAI Farms, a multi-disciplinary team of farmers and scientists working on improving food security and maintaining sustainability, announced in December 2022, the launch of its new free-to-use tilapia welfare application. The application was developed by FAI while working with farmers and scientists from China, Brazil, and Thailand. The app uses scientifically validated welfare indicators for nutrition, behavior, and fish health.
In the latest report by Fact.MR, they show an unbiased analysis of the global tilapia market, providing historical data for the period of 2016-2020, and forecast statistics for the period of 2023-2033.
In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of form (dried tilapia fillets, fresh or chilled tilapia fillets, frozen tilapia fillets, and frozen whole tilapia), species (Nile tilapia, blue tilapia, Mozambique tilapia, and Wami tilapia), and catch (wild catch and aquaculture), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).