By Nestor Arellano
The market for tilapia is expected to reach a volume of 7.9 million tons by 2024, according to a recent report.
The rapid expansion of aquaculture has propelled the growth of the tilapia industry globally, according to the reported titled Tilapia Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
The popularity of the species has been attributed to its suitability to being farmed.
“Tilapia, being an ideal choice for fish farming, has now become the second most cultured species after carps,” the report said. “Since, it is omnivorous, hard and has good resistance to diseases, they are affordable and easy even for small farmers to grow.”
The continued focus on health and the demand for an affordable protein-rich diet is also pushing demand for Tilapia since the fish contains vitamin B, iron, vitamin D, selenium and omega-3 fatty acids.
The improvements in genetic technology, selective breeding and increasing government initiatives to support aquaculture businesses are also stimulating the growth of the tilapia market.
The scope of the report covers: catch by type; region; species; product; and sector.
Based on the catch type, farmed tilapia currently dominates the market and is followed by the wild tilapia.
The information and analysis provided by the report will be useful to organizations or businesses planning to or involved in the breeding or production and marketing of tilapia since the report addresses key questions such as:
- How has the global tilapia market performed so far and how will it perform in the coming years?
- What are the price trends of tilapia?
- What are the various stages in the value chain of the tilapia industry?
- What are the key driving factors and challenges in the tilapia industry?
- What is the structure of the tilapia industry and who are the key players?
- What is the degree of competition in the tilapia industry?
- How is tilapia processed?
The report also examines the bargaining power of suppliers, threats to new entrants, threats to substitutes and the degree of competition in the space.