Tilapia fish consumption to hit US$ 22.3 billion by 2033

The global tilapia fish industry, which currently enjoys a value of US$ 14.1 billion, is estimated to reach a size of US$ 22.3 billion by the end of 2033, says a report by Fact.MR. The global demand for tilapia fish is expected to increase at 4.6% CAGR over the next 10 years from 2023.

Increasing health consciousness and growing demand for fish protein are prime factors propelling the market growth. The Nile tilapia segment is expected to increase at a CAGR of 4% during the forecast period 2023-2033. Based on species, the market is segmented into the Nile tilapia, Blue tilapia, Mozambique tilapia, and Wami tilapia.

At present, the Nile tilapia is the most widely consumed species of tilapia across the world. This species is primarily found in the Latin American, African, and Middle Eastern parts of the world. The Nile tilapia is preferred by a large number of people owing to its high advantages for farming from technique as well as ecological standpoints.

In ponds, the Nile tilapia is capable of feeding on phyto-plankton and requires very less maintenance, which makes it a perfect low-cost aquaculture alternative for farmers around the world.  

Competitive landscape

Key tilapia suppliers are focusing on expanding their business potential by acquiring new capital and launching new initiatives to meet the increasing demand for tilapia fish.

In October 2022, Tilabras, a Brazilian tilapia fish producer announced that it had secured US$ 9.7 million from Ocean 14 Capital, a London-based private equity impact investment fund.

The investment was made on the grounds of sustainability and environment conservation as Ocean 14 looks to expand its portfolio in the same direction and Tilabras practices sustainable aquaculture.

In December 2022, FAI Farms, a multi-disciplinary team of farmers and scientists working on improving food security and maintaining sustainability announced the launch of its new free-to-use tilapia welfare application. The application was developed by FAI while working with farmers and scientists from China, Brazil, and Thailand. The app uses scientifically validated welfare indicators for nutrition, behavior, and fish health.

The tilapia study outlines the key regions — North America, Latin America, Europe and APAC – along with the countries contributing the most in the respective regions. The report presents detailed insights about each market player, including SWOT analysis, main market information, market share, revenue, pricing and gross margin. Prominent players covered in this research are Netuno Internacional, Baiyang Aquatic Group, Regal Springs Tilapia, North Atlantic Fish Co.

The report focuses on the macro as well as microeconomic factors that are helping its development and concentrates on the regulatory framework that is shaping the future of the global market. It also makes not of the existing as well as prevailing pricing structure, emerging areas of applications, and imminent investment opportunities in the global market.