The global tilapia market is poised to grow by USD 1.94 billion during 2020-2024, progressing at a CAGR of over 6% during the forecast period.
The market is driven by the growing demand for processed seafood. In addition, the increasing demand from athletes and bodybuilders is anticipated to boost the growth of the tilapia market.
Increasing awareness about the importance of healthy food along with the challenges of a busy lifestyle are factors encouraging consumers to rely on the consumption of protein-rich processed seafood such as canned and frozen tilapia. Tilapia is rich in essential nutrients, such as proteins, vitamins, and minerals. Canned and frozen tilapia is convenient as it is easy to cook. Wide varieties of tilapia products such as frozen whole tilapia and tilapia fillets are considered as a staple diet in many geographies and cultures. Thus, the growing demand for processed seafood is expected to drive market growth during the forecast period.
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Major Five Tilapia Market Companies:
Blue Gulf Seafoods Co. Ltd.
Blue Gulf Seafoods Co. Ltd. operates the business under various segments such as Tilapia, Squid, WR Fish, WR Squid, and Others. The company provides nine varieties of tilapia products such as tilapia fillet, deep skinned tilapia fillet, skin on tilapia fillet, WGS tilapia, IVP tilapia fillet, gutted scaled tilapia, IWP tilapia, and tilapia plain box.
Hainan Qinfu Foods Co. Ltd.
Hainan Qinfu Foods Co. Ltd. offers products through the following business units: Tilapia fillets, Tilapia whole, Tilapia others, and Red tilapia. The company provides tilapia fillet deep skin, tilapia fillet shallow skin, tilapia fillet skin on, tilapia fillet super deep, gift box of tilapia fillet, and package case of tilapia products.
Hainan Xiangtai Fishery Co. Ltd.
Hainan Xiangtai Fishery Co. Ltd. operates under various business segments, namely Export trade channels, Distribution and catering channels, and Retail and ecommerce channels. The company provides tilapia fillet, tail with tilapia fillet, shredded tilapia fillet, deep tilapia fillet, breaded fish steak, raw tilapia, and tilapia fishes.
IBCO Ltd.
IBCO Ltd. offers products through the following business segments: Speciality seafood, Vegetables, Confectionaries, and Finger Foods. The company provides tilapia fillets.
Mah Protein, Inc.
Mah Protein, Inc. offers products through the following business segments: Domestic products and Export products. The company provides various types tilapia fishes.
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