Global Tilapia Market Growth, Industry Analysis, Outlook, and Forecast
Tilapia Market Report by Farmed Vs Wild Capture (Farmed, Wild Capture), Species (Nile Tilapia, Tilapias Nei, Blue Nile Tilapia, Mozambique Tilapia, and Others), Product (Frozen Fillets, Whole Fish, Fresh Fillets, and Others), Sector (Institutional, Retail), and Region 2024-2032
The global tilapia market size reached US$ 8.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 11.3 Billion by 2032, exhibiting a growth rate (CAGR) of 3% during 2024-2032.
Market Size in 2023
US$ 8.6 Billion
Market Forecast in 2032
US$ 11.3 Billion
Market Growth Rate 2024-2032
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 2024-2032. Our report has categorized the market based on farmed vs wild capture, species, product and sector.
Breakup by Farmed Vs Wild Capture:
Based on the farmed vs wild capture, farmed tilapia currently dominates the market.
Breakup by Region:
Based on the region, China currently holds majority of the market share in the global tilapia market.
Breakup by Species:
Blue Nile Tilapia
Breakup by Product:
Breakup by Sector:
Based on the sector, the global tilapia market has been segmented into institutional and retail sector.
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Base Year of the Analysis
Million Tons, US$ Billion
Farmed Vs Wild Capture, Species, Product, Sector, Country
China, Indonesia, Egypt, Bangladesh, Philippines, Brazil, Thailand, Others
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Key Questions Answered in This Report
We expect the global tilapia market to exhibit a CAGR of 3% during 2024-2032.
The growing consumer health consciousness has led to the changing inclination from high-calorie food products towards protein-rich diet, representing one of the factors catalyzing the global tilapia market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary halt in numerous aquaculture and processing activities.
Based on the capture type, the global tilapia market has been bifurcated into farmed tilapia and wild capture. Currently, farmed tilapia holds the majority of the market share.
Based on the species, the global tilapia market can be segregated into Nile Tilapia, Tilapias Nei, Blue Nile Tilapia, Mozambique Tilapia, and others.
Based on the product, the global tilapia market has been divided into frozen fillets, whole fish, fresh fillets, and others.
Based on the sector, the global tilapia market can be segmented into institutional sector and retail sector.
On a regional level, the market has been classified into China, Indonesia, Egypt, Bangladesh, Philippines, Brazil, Thailand, and others, where China currently dominates the global market.
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