The Tilapia Market deals with the development and distribution of the cichlid fish. Tilapia fingerlings belong to tribe known as tilapiine cichlid and number in around 100 different species. Fresh tilapia are largely restricted to freshwater bodies like ponds, lakes and rivers.
The Tilapia Market has recently come into prominence as the fields of aquaculture and aquaponics gain in size and revenue. Tilapia farming is extremely popular owing to the low price of live tilapia, ease of preparing tilapia food due to its boneless nature and its mildness as far as taste is concerned. The low tilapia price has ensure that it is usually among the top 5 fresh seafood varieties consumed in the US.
Scope & Regional Forecast of the Tilapia Market
In recent years, the Tilapia Market has witnessed that fresh tilapia species from North Africa are most popular on a commercial basis. This popularity is due to peculiar characteristics like rapid pace of growth, high tolerance to density of stocking, and high levels of adaptability. This species is pretty popular in Asia. On the other hand, the US is a very popular destination for frozen tilapia. China is not only the leading exporter of this variety, but also of whole tilapia.
Traditionally, the European Union has been a big market for fresh seafood. But in recent times, imports have declined as only Germany and Netherlands are exhibiting a strong appetite for tilapia fingerlings. Vietnam’s tilapia farming operations has received a significant amount of encouragement from the government in the form of various initiatives and research studies. Supply links between various major parties like producers, processors and international distributors have also been strengthened in the country.
While there is heavy competition for other cheap fish varieties, the demand for live tilapia is expected to hold steady. The demand is also expected to spike on an annual basis due to the Chinese New Year.
Segmentations & Key Manufacturers Involved in the Tilapia Market
The Tilapia Market can be broken down into various segmentations on the basis of –
Manufacturer: China, Egypt, USA, Indonesia, Philippines, Thailand, Brazil, Vietnam, Colombia, Ecuador, Myanmar, Malaysia, Uganda and Bangladesh.
Application: Household Consumption and Business.
Type: Tilapia and Tilapia Fillet.
Geographical Location: North America (USA, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia) and Latin America, Middle East and Africa.
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