Tilapia Market by Product and Geography - Forecast and Analysis 2020-2024

  • Published: Apr 2020
  • Pages: 120
  • SKU: IRTNTR40906
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The tilapia market size has the potential to grow by USD 1.94 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth.

This report provides a detailed analysis of the market by product (Nile tilapia, Blue tilapia, and Mozambique tilapia) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Amacore BV, Baiyang Industrial Investment Group Co. Ltd., Blue Gulf Seafoods Co. Ltd., Hainan Qinfu Foods Co. Ltd., Hainan Xiangtai Fishery Co. Ltd., IBCO Ltd., Regal Springs Tilapia AG, Zhanjiang Guolian Aquatics Products Co. Ltd., and Zhenye Aquatic Huilong Ltd.

Market Overview

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Market Competitive Analysis

The global tilapia market is fragmented with the presence of many local, regional, and global players. The high competition and changing consumer preferences will lead to an increased focus on product development over the forecast period. IBCO Ltd., Regal Springs Tilapia AG, Zhanjiang Guolian Aquatics Products Co. Ltd., and Zhenye Aquatic Huilong Ltd. are some of the major market participants. Although the growing demand for processed seafood will offer immense growth opportunities, product recalls will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market positions, this tilapia market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this tilapia market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

  • Amacore BV
  • Baiyang Industrial Investment Group Co. Ltd.
  • Blue Gulf Seafoods Co. Ltd.
  • Hainan Qinfu Foods Co. Ltd.
  • Hainan Xiangtai Fishery Co. Ltd.
  • IBCO Ltd.
  • Regal Springs Tilapia AG
  • Zhanjiang Guolian Aquatics Products Co. Ltd.
  • Zhenye Aquatic Huilong Ltd.

Tilapia Market: Segmentation by Region

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APAC was the largest tilapia market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The presence of significant players, the rising awareness about the benefits of consuming seafood, increasing disposable income, and the growing export of tilapia from China to global markets such as the US will significantly drive the tilapia market growth in APAC.

Almost 43% of the market’s growth will originate from APAC during the forecast period. China and the Philippines are the critical markets for tilapia in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Tilapia Market: Segmentation by Product

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Nile tilapia grows faster compared with other tilapia species and lives in shallow water. As a result, many new countries are investing in the aquaculture of Nile tilapia to cater to the increasing demand for seafood, both processed and fresh.

However, the tilapia market share growth by the Nile tilapia segment will be slower than the growth of the market by the other segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the tilapia market size.

Tilapia Market: Key Drivers and Trends

The growing demand for processed seafood is gaining popularity, which is one of the critical tilapia market growth drivers. Hectic lifestyles and changing food consumption patterns across the world have increased the demand for nutritious, ready-to-cook processed food. In line with this trend, seafood products such as frozen whole tilapia, canned tilapia, and tilapia fillets have noted increased sales. Consumption of these food products saves time and effort, without compromising health and nutrition. Tilapia is rich in essential nutrients such as proteins, vitamins, and minerals and is considered a staple diet in many geographies and cultures. These factors have provided immense business opportunities to established and new players in the market. As a result, aquaculture practices of tilapia have increased, especially in developing countries because they are inexpensive and easy for small-scale farmers to grow for food, nutrition, and income.

  • The demand for seafood products from athletes and bodybuilders is rising, which is one of the vital tilapia market trends.
  • The fish is considered a healthy alternative to red meats and certain white meats, making it popular among athletes.
  • The increased consumption of seafood, such as tilapia, among fitness enthusiasts and athletes, is primarily because it is a low-fat protein source for muscle building and also contains proteins, iron, vitamin B12, and omega-3 fatty acids.
  • Vendors are launching new products to cater to a large customer base and remain competitive in the market. For instance, Nutreco-owned Skretting, a global player in aquaculture feed, launched an innovative tilapia starter diet product for the Egyptian market.
  • The global tilapia market will record a CAGR of over 6% during 2020-2024. 

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Tilapia Market: Key Highlights of the Report for the Forecast Period 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive tilapia market growth during the next five years
  • Precise estimation of the tilapia market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the tilapia market industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of tilapia market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The tilapia market growth will increase by $1945.96 million during 2019-2024.
The tilapia market is expected to grow at a CAGR of 6.24% during 2019-2024.
Technavio has segmented the tilapia market by product (Nile tilapia, Blue tilapia, and Mozambique tilapia) and geographic (APAC, North America, Europe, South America, and MEA).
Amacore BV, Baiyang Industrial Investment Group Co. Ltd., Blue Gulf Seafoods Co. Ltd., Hainan Qinfu Foods Co. Ltd., Hainan Xiangtai Fishery Co. Ltd., IBCO Ltd., Mah Protein Inc., Regal Springs Tilapia AG, Zhanjiang Guolian Aquatics Products Co. Ltd., Zhenye Aquatic Huilong Ltd. are a few of the key vendors in the tilapia market.
APAC will register the highest growth rate of 42.72% among the other regions. Therefore, the tilapia market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • China
  • US
  • The Philippines
  • Egypt (Arab Republic of Egypt)
The key factors driving the tilapia market growth are:
  • Growing demand for processed seafood
  • Increasing demand from athletes and bodybuilders
The tilapia market vendors should focus on grabbing business opportunities from the nile tilapia segment as it accounted for the largest market share in the base year.
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