Tilapia Market: Competitive Outlook
The tilapia market has numerous players in the fray and is involved in fierce competition. Key players design strategies for increased growth opportunities and for strengthening their position in the market. Other activities such as mergers, acquisitions, collaborations, partnerships, and joint ventures aid in increasing the growth rate of the tilapia market. Key players in the tilapia market are Blue Ridge Aquaculture Inc., Beihai Evergreen Aquatic Product Science and Technology Co. Ltd., Netuno Internacional S/A., and Baiyang Aquatic Group.
The increase in consumption of frozen tilapia also pings considerable growth opportunities for key players in the tilapia market. An increase in the distribution of tilapia to restaurants may also assure good growth for the tilapia market.
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Tilapia market: Growth Restraints
Market shareholders and individuals involved in tilapia fish farming have a grave threat to tackle: the tilapia lake virus (TiLV). The advent of the tilapia lake virus can be traced back to 2009 where tilapia fish died under mysterious circumstances. Since then, this virus has been creating havoc and is proving to be a prominent growth dampener for the tilapia market.
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Tilapia market: Latest insights
Efforts and technologies to boost the production of tilapia are in constant development. IPRS technology is a classic instance. The use of IPRS technology has yielded good results in increasing production levels. Therefore, similar technologies to increase the production of tilapia may drastically improve the growth rate of the tilapia market.
The growing influence of genetically improved farmed tilapia (GIFT) may also serve as a strong growth pillar for the tilapia market. The following development is a perfect example regarding the growing influence of GIFT: India’s Marine Products Export Development Authority (MPEDA) recently sold 3 million genetically improved farmed tilapia (GIFT) seeds in the Indian state of Tamil Nadu.
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Government support is also proving to be a boon for the growth of the tilapia market. The announcement on adding GIFT production sites in Kerala by the Rajiv Gandhi Center for Aquaculture (RGCA), a society under Marine Products Export Development Authority, India’s Ministry of Commerce & Industry is a classic instance.
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