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Tilapia is mainly fresh water fish that belongs to the family of “cichlidae fish” generally found in ponds, lakes, and rivers. It is considered to be the one of the most consumed sea food because of the associated benefits with mild taste and it is inexpensive as compared to other sea food which is the major reason for its popularity and increased demand among all income level groups. Tilapia is ideal for farming as it grows quickly and requires a cheap vegetarian diet.
COVID-19 Scenario Analysis:
Corona virus has spread all over the world and most of the countries are adopting lockdown measures to control the spread of the virus and securing public health. All business and production activities are fully shut down except the necessary one such as food and medical sector or other, leading toward economic crisis in the country. Fishing efforts have been reduced and tilapia stock is finishing with inactive trade and transportation, disrupted the whole supply chain is majorly affecting tilapia market.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Increase in population and its attraction toward the aquaculture is expanding the aqua market at a good pace. Consumers are becoming more aware and concerned about healthy consumption and healthy food items available for them in the market. Tilapia is considered to be the most consumed fish all over the globe as it is very beneficial for health and is an excellent source of protein, contain impressive amount of minerals and vitamins, and its skin is used to heal second and third degree burns and prevent scarring as well. Tilapia is an inexpensive fish with good taste, so it substitutes the expensive sea food and all these factors along, lead to its growth all over the globe.
The global tilapia market trends are as follows:
Rapid expansion in aquaculture leads to tilapia production in majority of countries and China holds the position of world’s largest consumer, exporter, and producer of tilapia. Although, some regions are not safe to buy tilapia from as fishes don’t meet the quality standards as they were polluted with unsafe additives, veterinary drug residues and also fed with animal feces, which can be very harmful and can cause many diseases to tilapia consumers.
Canned and frozen tilapia are getting huge popularity among working consumers as they are lacking of time because of their work life and hectic schedule, tilapia offers them convenience of ready-to-cook food which saves their time and energy.
Key Benefits of the Report:
Questions Answered in the Tilapia Market Research Report:
Key Market Segments
Key Market Players