Global Tilapia Market Report by Producing Countries (China, Indonesia, Brazil, Malaysia, Philippines, Vietnam, Thailand, Peru, Bangladesh, Colombia, Mexico, Costa Rica, and United States), Species (Nile tilapia, Tilapias nei, and Others), Products (Frozen Whole Tilapia, Fresh Fillet Tilapia, and Frozen Fillet tilapia), Regions and Company Analysis 2024-2030

Global Tilapia Market Size

Global Tilapia Market share is predicted to be around US$ 13.05 Billion by 2030. The CAGR for the tilapia market from 2024 to 2030 is 3.47%. Renub Research said that it amounted to US$ 10.28 Billion in 2023.

White fish with a mild flavor is tilapia. It is a widely preferred option due to its affordability and ease of preparation. It is a popular fish eaten all across the world. It is the most farmed fish in more than 120 countries and territories worldwide. Tilapia are a popular choice for aquaculture because of their abundance. Because of their adaptability, they can live in overcrowded or low-quality water. Native to North-East Africa, the Nile River is home to the most widely cultivated species. A healthy and well-balanced diet can include the nutrient-dense meal tilapia. It is lower in fat and an incredible origin of protein. Compared to processed meats like bacon, tilapia has less sodium, calories, and total fat.

• For pregnant or nursing women and children over the age of two, the U.S. Food and Drug Administration (FDA) recommends tilapia as one of the finest fish options. Its low mercury and pollutant concentrations are the causes of this.

Global Tilapia Market Growth Opportunities

    Expansion of Aquaculture 

• The FAO estimated a 2-4% growth in tilapia production worldwide in 2022. The consistent supply and expanding aquaculture sector of tilapia have led to its recent surge in popularity in the global tilapia market. 
• The Global Seafood Alliance's survey results show that global production of the five major and representative species/groups of finfish, which are pangasius and catfishes, carps, tilapias, salmonids, sea bass, and sea bream, is expected to reach 39.6 million metric tons (MMT) in 2023, up 1.8 percent from the 38.9 MMT recorded in the survey conducted in 2022. Production from these species/groups is expected to increase by 2% to around 40.4 MMT by 2024.

    Technological Improvements

• Technology improvements and an intensification of cultural practices have led to a notable expansion of tilapia culture throughout the past ten years. 
• The transition to a circular bio-economy has been one of the most significant advancements and trends in the tilapia industry in recent decades. Multitrophic aquaculture (IMTA) and partitioned aquaculture systems (PASs with split ponds, SPs, and in-pond recirculation systems, IPRS) are examples of it, as are bio floc technology (BFT), recirculation aquaculture systems (RASs), and bio-RAS.

    Trade Agreements

• Access to aquaculture products and the tilapia market have been significantly impacted by regional trade agreements (RTAs), which give preferential rights. RTAs have become increasingly important in the global trading system. 
• Among these RTAs are the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Regional Comprehensive Economic Partnership (RCEP), and the United States-Mexico-Canada Agreement (USMCA). One of the South-South trade agreements, the General System of Trade Preferences among Developing Countries (GSTP), can also greatly ease sectoral cooperation frameworks and market access for fisheries and aquaculture products.

    Government Initiatives

• Governments worldwide prioritize tilapia production through extensive aquaculture programs because they understand its importance to food security and economic growth.
• The USD 1.4 billion Pradhan Mantri Matsya Sampada Yojana (PMMSY), introduced in 2020, provides subsidies for infrastructure, seed production, and training to expand the manufacturing of tilapia and standard fish by 40% by 2024–2025.
• The Kisan Credit Card project offers low-interest financing for systems and inputs, while the Blue Revolution Scheme provides financial support for tilapia farming infrastructure. The result is a burgeoning global tilapia fish market.
• With the goal of enabling fishing communities to increase output, meet sustainability criteria, and enhance their general economic welfare, Indonesia plans to broaden its smart fisheries village initiative. Twenty-two fishing communities are part of the program's first cohort. Participating communities harvest and raise a variety of seafood and other items, such as shrimp and organic salt, in addition to octopus and tilapia.
• The Indonesian Ministry of Maritime Affairs and Fisheries is building a tilapia farming cluster model with funding from the Aquaculture Production Business Service Center in Cilebar sub-district, Karawang district, West Java, Indonesia (KKP). This 16-hectare project intends to support the growth of tilapia farming in the area.

United States Tilapia Market

• The United States is a dominant player in the world tilapia market. Budget-conscious and time-pressed consumers can find tilapia to be both affordable and versatile in a variety of culinary dishes. It can be purchased either fresh or frozen.
• In the first 11 months of 2023- the United States imported 187 million pounds (84,822 tons) of frozen tilapia fillets, which is 13% more than the 166 million pounds of frozen basa imported in the same time, according to the National Oceanic and Atmospheric Administration (NOAA).
• In January 2024- The National Oceanic and Atmospheric Administration (NOAA) reported that, compared to the same period in the previous year, US tilapia imports totaled 86,500 tons in the first half of 2023, valued at USD 326 million. This represents a 7% decline in volume and a 15% fall in value.
• The domination of the global tilapia industry is strengthened by advantageous trade laws and agreements, as well as consumer choices that prioritize sustainability and health.

Global Tilapia Market

Prominent participants in the global tilapia industry include Grieg Seafood, Thai Union Group, High Liner Foods Inc., Surapon Foods, and Charoen Pokphand Foods.

• In February 2024- Grieg Seafood wants to become closer to the market and its customers. With the most up-to-date machinery in this specially designed factory, they will produce premium items from our fish. Furthermore, they will be able to significantly reduce the quantity of CO2 emissions caused by the shipping of our goods around the globe.
• In November 2023- Grieg Seafood will invest in a new post-smolt facility in Finnmark to enhance fish's sustainability, welfare, and health.
• In July 2023- CP Foods collaborated with Thai suppliers of sustainable aquafeed raw materials. The firm teamed up with the Thai Sustainable Fisheries Roundtable to bring the Gulf of Thailand fisheries up to international standards.
• In May 2023- Regal Springs, a tilapia manufacturer, revealed at the 2023 Seafood Expo Global in Barcelona, Spain, that it will launch two new products under its brand, one for the U.S. market only: panko-coated tilapia and another for beer batter coating.

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

1.    China
2.    Indonesia
3.    Brazil
4.    Malaysia
5.    Philippines
6.    Vietnam
7.    Thailand
8.    Peru
9.    Bangladesh
10.    Colombia
11.    Mexico
12.    Costa Rica
13.    United States

Species – Global Tilapia Fish Market breakup from 3 viewpoints:

1.    Nile tilapia
2.    Tilapias nei
3.    Others

Products – Global Tilapia Fish Market breakup from 3 viewpoints:

1.    Frozen Whole Tilapia
2.    Fresh Fillet Tilapia
3.    Frozen Fillet tilapia

Country – This Report Breakup from 21 Country Tilapia Fish Market

1.    North America

1.1    United States
1.2    Canada

2.    Europe

2.1    Germany
2.2    United Kingdom
2.3    France
2.4    Italy
2.5    Spain
2.6    Switzerland

3.    Asia – Pacific

3.1    Japan
3.2    China
3.3    India
3.4    South Korea
3.5    Indonesia
3.6    Australia

4.    Latin America

4.1    Mexico
4.2    Brazil
4.3    Argentina

5.    Middle East & Africa

5.1    Saudi Arabia
5.2    United Arab Emirates
5.3    South Africa

6.    Rest of World

All companies have been covered from 3 viewpoints:

•    Overview
•    Recent Development
•    Revenue

Company Analysis:

1.    High Liner Foods Inc.
2.    Surapon Foods
3.    Thai Union Group
4.    Grieg Seafood
5.    Charoen Pokphand Foods

Report Details: