Global Tilapia Fish Market Analysis and Growth Forecast 2024-2030 Featuring the Developments and Revenues of High Liner Foods, Surapon Foods, Thai Union Group, Grieg Seafood, and Charoen Pokphand Foods

News provided by

Mar 29, 2024, 10:30 ET

DUBLIN, March 29, 2024 /PRNewswire/ -- The "Global Tilapia Fish Market, Size, Forecast 2024-2030, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.

The Global Tilapia Fish Market is expected to be valued at around US$ 13.05 billion by 2030, rising at a CAGR of 3.47%, according to the report. The market was valued at US$ 10.28 billion in 2023.

The burgeoning aquaculture sector considerably propels tilapia production, addressing worldwide seafood demands sustainably. Fueled by the need for increased fish protein without exacerbating overfishing, aquaculture's-controlled environment optimizes tilapia breeding, fostering extended increases and better yields. This systematic approach ensures an extra sustainable supply chain. Technological strides in re-circulating aquaculture systems and selective breeding enhance performance and effective practices. The sector's expansion becomes a pivotal force, driving the exponential increase of tilapia production and securing a dependable and responsible supply of this famous and versatile fish for the worldwide market.

Moreover, trade possibilities for tilapia have flourished due to expanding alternate agreements and globalization, growing new avenues for exports, and elevating its worldwide presence. The fish has become a key player in international markets, profiting from the inter-connectedness of economies. Also, organizations just like the Global Aquaculture Alliance are instrumental in promoting tilapia intake. Through strategic campaigns and recognition initiatives, these businesses contribute to an effective market perception of tilapia, fostering accelerated hobby amongst consumers worldwide. As a result, the fish transcends cultural obstacles, becoming a sought-after choice in various culinary landscapes and further solidifying its role as a staple in the global seafood market.

Besides, governments globally prioritize tilapia production through comprehensive aquaculture projects, recognizing its essential position in food protection and monetary boom. The 2020-launched Pradhan Mantri Matsya Sampada Yojana (PMMSY) allocates USD 1.4 Billion in funding to increase tilapia and standard fish manufacturing by 40% by 2024-25, offering subsidies for infrastructure, seed manufacturing, and training. The Blue Revolution Scheme provides monetary aid to tilapia farming infrastructure, while the Kisan Credit Card initiative offers low-interest loans for systems and inputs. These measures empower local farmers, stimulating rural improvement, diversifying protein sources, strategically reducing dependence on wild fisheries, reinforcing domestic food supplies, and fostering broader socioeconomic development.

Indonesia is emerging as a worldwide leader in tilapia fish production due to strategic projects and favorable situations

Producing countries divide the Global Tilapia Fish Market into China, Indonesia, Brazil, Malaysia, Philippines, Vietnam, Thailand, Peru, Bangladesh, Colombia, Mexico, Costa Rica, and the United States. According to the Food and Agriculture Organization (FAO), Indonesia is presently the second largest tilapia manufacturer inside the global arena, simply in the back of China. The state's tropical weather helps year-spherical tilapia farming, making sure consistent yields. Government-backed programs promote sustainable aquaculture, offering farmers' subsidies, education, and infrastructure guides.

Indonesia's huge community of rivers and ponds offers abundant freshwater assets perfect for tilapia cultivation. Moreover, the country's determination to assembly domestic demand and exploring international markets fuels growth. With a focus on modernizing farming practices and leveraging technology, Indonesia showcases a holistic technique, propelling its speedy ascent in worldwide tilapia production and securing a prominent role inside the thriving aquaculture industry.

Nile tilapia dominates the worldwide market because of its high-quality adaptability, speedy increase, and favorable flavor

By Species, the Global Tilapia Fish Market is fragmented into Nile, Tilapias nei, and Others. Originating in Africa, particularly the Nile River, this species thrives in diverse climates, permitting considerable cultivation. Renowned for its slight flavor, firm texture, and versatility in culinary applications, Nile tilapia appeals to various client alternatives. Its ability to tolerate varying water conditions and reproduce prolifically contributes to high yields and cost-effectiveness for farmers. Furthermore, Nile tilapia's extensive popularity in aquaculture structures globally, coupled with practical breeding applications, guarantees a constant supply. These factors together function Nile tilapia as the predominant and sought-after species within the thriving global tilapia market.

Frozen fillet tilapia products dominate the global tilapia market size due to their comfort, versatility, and prolonged shelf life

By products, the Global Tilapia Fish Market is categorized into frozen whole tilapia, fresh tilapia, and frozen tilapia. Filleting eliminates bones, making sure a problem-free dining experience is attractive to consumers seeking convenience. Frozen fillets provide year-round availability, overcoming seasonal obstacles associated with sparkling fish. With cutting-edge freezing technologies preserving taste and texture, those products maintain quality throughout transportation, catering to global tilapia market price. Also, frozen fillet tilapia is a cost-effective alternative, making it handy for a broader customer base. The ease of guidance and suitability for various cuisines similarly solidify its reputation, organizing frozen fillet tilapia as a key participant in the thriving international tilapia market.

Tilapia fish market is dominated by United States

By Countries, the Global Tilapia Fish Market is broken up into United States, Canada, Germany, United Kingdom, France, Italy, Spain, Switzerland, Japan, China, India, Australia, South Korea, Indonesia, Mexico, Brazil, Argentina, South Africa, Saudi Arabia, United Arab Emirates, and Rest of world. The United States stands as a global powerhouse in tilapia consumption. Tilapia's affordability, adaptability in diverse culinary preparations, and comfort, available fresh or frozen meet the possibilities of budget-aware and busy consumers. The robust distribution networks of essential supermarkets, the giant presence of tilapia in the food service industry, and the upward push of direct-to-purchaser channels contribute to its significant availability. Favorable trade rules and agreements and health-conscious and sustainability-pushed consumer options enhance its market dominance. Industry tasks, retailer promotions, product innovation, and adherence to strict food protection requirements collectively solidify the United States as a dominant pressure in the global tilapia fish market.

Key Players

High Liner Foods Inc., Surapon Foods, Thai Union Group, Grieg Seafood, and Charoen Pokphand Foods are prominent global tilapia fish market players.

Producing Countries - Global Tilapia Fish Market breakup from 13 viewpoints:

China
Indonesia
Brazil
Malaysia
Philippines
Vietnam
Thailand
Peru
Bangladesh
Colombia
Mexico
Costa Rica
United States

Species - Global Tilapia Fish Market breakup from 3 viewpoints:

Nile tilapia
Tilapias nei
Others

Products - Global Tilapia Fish Market breakup from 3 viewpoints:

Frozen Whole Tilapia
Fresh Fillet Tilapia
Frozen Fillet tilapia

All companies have been covered from 3 viewpoints:

Overview
Recent Developments
Revenues

Company Analysis

High Liner Foods Inc.
Surapon Foods
Thai Union Group
Grieg Seafood
Charoen Pokphand Foods

For more information about this report visit https://www.researchandmarkets.com/r/e95yft

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo - https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets