Tilapia Market Projections Highlighting Primary Trends until 2028

Posted on 2019-04-02 by Mark Hub in Food & Beverage // 0 Comments

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The “Tilapia Market Forecast, Trend Analysis and Competition Tracking – Global Review 2018-2028” is a thorough research report compiled by Fact.MR which delivers the vital market insights of the tilapia market. Multiple trends are likely to influence the supply-demand scenario of the tilapia market during the period of forecast. Key market trends are covered in the report that hold a significant impact on the future growth prospects of the tilapia market.

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Chinese Tilapia Industry Witnesses Stagnancy in Exports amid Increasing Preference for Pangasius

The U.S. remains one of the largest importers of Chinese tilapia. However, according to FAO, in the first two quarters of 2017, global tilapia trade witnessed a decline of 6%, attributed to weakening consumer demand, increasing participation of other countries in the global tilapia trade and growing preference for other specialty fishes. A special palate for pangasius has been witnessed among seafood consumers worldwide. Led by Vietnam, nearly half of the global supply of pangasius is held by India, Bangladesh, Indonesia, Malaysia, and China.

The U.S. and China continue to remain largest consumers of pangasius. Following the increasing domestic demand and lower prices of pangasius, Chinese tilapia farmers are adopting farming of other fish varieties including pangasius. These dynamics continue to deter the future growth of the Chinese tilapia exports in prominent tilapia market.

Amidst Stabilizing Demand Trends, Tilapia Lake Virus (TiLV) Continues to Pose Production Challenges

Tilapia Lake Virus (TiLV) is an emerging threat to global tilapia market where established markets show concern towards risks of introduction of infection through imports. In a bid to avoid a considerable production loss due to TiLV infection, aversion for imports from TiLV-prone countries is observed wherein national markets show increased concern for low quality and possible contamination risks. However, imports continue against the backdrop of widening the supply-demand gap, in turn, adding the risks of production loss.

Although, active surveillance work by governments and development partners is underway aquaculture lacks effective vaccines for viral diseases including TiLV. Owing to this, TiLV continues to remain a challenge for tilapia producing countries.

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Frozen Tilapia Fillets Remain Highly Sought After with Increasing Demand on Seafood Aisles

The domestic market witnesses dominance of fresh varieties of tilapia whereas exports are majorly inclined towards frozen varieties, as the nature of commodity is perishable. In addition, increasing palate for this fish has made tilapia one of the most popular fishes consumed in restaurants and seafood aisles. Although a lower volume consumption has been observed in the international tilapia market in past years, demand for frozen fillets continues to capture consumer traction owing to increasing pallet for tilapia fillet dishes and lower prices of frozen varieties as compared to fresh tilapia.

Competitive Landscape

The competitive landscape section of the tilapia market report offers a thorough competitive assessment of the market. Fact.MR provides a comprehensive dashboard view of key market players, company share analysis and thorough company profiles in this section of the tilapia market report. Few of the profiled key market players include Baiyang Aquatic Group, Blue Ridge Aquaculture, Inc., Guangdong Gourmet Aquatic Products Co. Ltd., Ananda Aqua Exports Private Limited, Hainan Xiangtai Fishery Co., Ltd., Beihai Evergreen Aquatic Product Science & Technology Co. Ltd., Regal Springs Tilapia, Mazzetta Company, LLC., North Atlantic Fish Co., Inc. and Netuno Internacional S/A.

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