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The global tilapia market reached a value of US$ 7.9 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 6.1% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
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 for growth at the global and country level from 2021-2026. 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 and is followed by the wild tilapia.
Breakup by Region
Based on the region, China currently holds majority of the market share in the global tilapia market.
Breakup by Species
Nile tilapia currently represents the leading segment, accounting for majority of the market share.
Breakup by Product
Frozen fillets currently represent the largest product type accounting for the highest market share.
Breakup by Sector
Based on the sector, the global tilapia market has been segmented into institutional and retail sector.
The report has also examined the competitive landscape of the global tilapia market.
|Base Year of the Analysis||2020|
|Units||Million Tons, US$ Billion|
|Segment Coverage||Farmed Vs Wild Capture, Species, Product, Sector, Country|
|Countries Covered||China, Indonesia, Egypt, Bangladesh, Philippines, Brazil, Thailand, Others|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
The global tilapia market was valued at US$ 7.9 Billion in 2020.
We expect the global tilapia market to exhibit a CAGR of 6.1% during 2021-2026.
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, where Nile Tilapia currently represents the largest segment.
Based on the product, the global tilapia market has been divided into frozen fillets, whole fish, fresh fillets, and others. Amongst these, frozen fillets account for the majority of the total market share.
Based on the sector, the global tilapia market can be segmented into institutional sector and retail sector. Currently, the institutional sector exhibits a clear dominance in the market.
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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