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Tilapia Market size is estimated to reach $5,851 million, growing at a CAGR of 5.7% - IndustryARC

Tilapia Market

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Tilapia Market size is estimated to reach $5,851 million by 2026, growing at a CAGR of 5.7% over 2021-2026.

HYDERABAD, TELANGANA, INDIA, September 22, 2022 /EINPresswire.com/ -- Tilapia Market size is estimated to reach $5,851 million by 2026, growing at a CAGR of 5.7% over 2021-2026. Tilapia is a freshwater fish from the Cichlidae family that may be found in shallow brackish water, ponds, rivers, lakes, and other bodies of water. It is one of the most widely caught and consumed fish species in the world. It has a mild flavor and is high in proteins, iron, vitamin D, selenium, vitamin B, and a number of other minerals. The fast rise of aquaculture has aided the global expansion of the tilapia business. Tilapia is the second most cultivated species after carps, owing to its suitability for fish farming. They are inexpensive and easy to cultivate, even for small farms, because they are omnivorous, hard, and disease resistant. Furthermore, Tilapia demand is driven by people's rising health consciousness and need for a protein-rich diet.

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Key takeaways:

This IndustryARC report on the Tilapia market highlights the following areas -

1. In 2020, Europe dominated the Tilapia Market.

2. Steadily increasing aquaculture and disease resistance, as well as the nutritional and health benefits of tilapia fish, along with consumer knowledge, are expected to help in the global expansion of the Tilapia Market.

3. Detailed analysis of the Strength, Weakness, and Opportunities of the prominent manufacturers operating in the market will be provided in the Tilapia Market report.

4. However, one of the key challenges limiting the growth of the Tilapia Market is the danger of illness spreading through imports, as well as the contamination risk and background in import activities, might result in production losses.

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Segmental Analysis:

1. The Tilapia Market based on species can be further segmented into Nile Tilapia (OREOCHROMIS NILOTICUS), Blue Tilapia (OREOCHROMIS AUREUS), Mozambique Tilapia (OREOCHROMIS MOSSAMBICUS) and Wami Tilapia (OREOCHROMIS UROLEPIS HORNORIUM). Nile Tilapia of species segment is the major segment generating revenue in 2020.

2. Europe dominated the Tilapia Market with a major share of 45.2% in 2020. In the UK, owing to growing worries about obesity, hearing-related disorders, and other issues, this has become another profitable market for tilapia, prompting people to replace meat with healthful fish products. Nearly 7.4 million individuals in the United Kingdom suffer from heart and circulation illness, according to the British Heart Foundation (BHF).

3. The Tilapia Market-based sales channels can be further segmented into Direct Sales, Convenience Stores, Specialty Food Stores, Wholesale Stores, Online Retail and Others. The direct sales segment registers for the highest Tilapia market share in 2020. In 2020, the direct sales sector will have the largest tilapia market share.

Competitive landscape:

The top 5 players in the Tilapia industry are:

1. Baiyang Aquatic Group
2. Beihai Evergreen Aquatic Product Science & Technology Co. Ltd
3. Hainan Xiangtai Fishery Co. Ltd
4. Mazzetta Company LLC
5. Blue Ridge Aquaculture Inc

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