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Increasing application in dietary supplements will drive omega-3 ingredients market. According to a new study by Future Market Insights (FMI), the market is projected to reach US$ 5.9 Bn by 2021. The study forecasts the dietary supplements segment to account for over 47% of the sales in terms of value in 2021. Rising focus on health and wellness is expected to bode well for the market

Omega-3 ingredients can be extracted from various sources for instance animal source (algal, fungus oil, fish oil and krill oil) and plant sources (chia seed oil, sunflower oil, flax seed oil, hemp, soybean oil, canola oil, primrose oil, and camelina oil). Manufacturers are investing heavily in discovering novel source of omega-3 ingredients to gain competitive advantage.

Key Takeaways from the Omega-3 Ingredients Market Study

• Omega-3 ingredients market is expected to register nearly 10.9% CAGR between 2021 and 2031
• The U.S. will emerge as an attractive market, accounting for 78% of sales in North America
• The EU5 has been exhibiting exceptional growth opportunities. FMI forecasts it to register nearly 10% Y-o-Y growth in 2021
• Benelux and Nordic markets also will exhibit impressive growth within Europe market
• China and India will continue exhibiting high demand for omega-3 ingredients

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“Manufacturers are focusing on improving production processes to meet high quality standards. Continuous research & development initiatives undertaken by market players are aimed at discovering alternate sources of omega-3 ingredients,” said a lead analyst at FMI.

Rising Vegan Population Fuelling Demand for Plant-Based Omega-3 Ingredients

A vegan diet does not include two essential omega-3 ingredients in their diet i.e., EPA and DHA as these are primarily derived from animal sources such as fish. As the vegan population is growing rapidly owing to increasing awareness, manufacturers are focusing on the production of omega-3 ingredients from the plant as the source. Manufacturers are striving to discover more such plant sources for omega-3 ingredients for supporting this growing segment of the population.

Rising Focus on Health Fuelling Demand for Omega-3 Ingredients

The increasing concern about health and wellness among the consumers has been fuelling the demand for nutraceutical and dietary supplements. Frequent product launches with multiple health benefits of omega-3 ingredients are among key market trends.

Europe currently holds around 37.0% of the global market. The rising incidence of various chronic ailments has been fuelling the demand in the U.S. Besides this increasing awareness about the health benefits of omega-3 ingredients has been spurring growth in Asia Pacific and the Middle East and Africa.

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Who is winning?

A few of the leading players operating in the omega-3 ingredients market are Croda International Plc, Omega Protein Corporation, Koninklijke DSM N.V., Cargill Inc., Epax Norway AS, GC Rieber Oils AS, Pharma Marine AS, Copeinca ASA, Arista Industries Inc., Polaris Nutritional Lipids, Clover Corp. Ltd., Marine Ingredients LLC, Barleans Organic Oils L.L.C., Algaecytes Limited, Qualitas Health, Cellana, Inc., Qponics Limited, BioProcess Algae, LLC, Luhua Biomarine (Shandong) Co., Ltd, Denomega Nutritional Oils, and other players.

Manufacturers of omega-3 ingredients are also strengthening their technology portfolio to improve quality of their products.

• For instance, Omega Protein Corporation in 2017 has partnered with the Science Center for Marine Fisheries (SCeMFis), a cooperative research center for the production of omega-3 ingredients. Sensing the rising demand for omega-3 ingredients manufacturers are also increasing production quantity.
• In January 2019, Cargill launches omega-3 ingredients for fish feed as they spot greater potential for farmed fish. Cargill is further developing supply chain for effective distribution of these omega-3 ingredients
• In January 2019, Croda International Plc acquired Brenntag Biosector to strengthen its pharmaceutical offerings.

Get Valuable Insights into Omega-3 Ingredients Market

Future Market Insights, in its new offering, provides an unbiased analysis of the Omega-3 Ingredients market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the Omega-3 Ingredients market based on Product Type (Alpha-Linolenic Acid (ALA), Eicosapentaenoic Acid (EPA), and Docosahexaneoic Acid (DHA)), By Source (Animal-based, Plant-based), By Application (Food Industry, Beverage Industry, Dietary Supplements, Infant Formula, Pharmaceuticals & Nutraceutical Industry, and Animal Feed) across seven major regions (North America, Latin America, Europe, Asia Pacific, Oceania, Japan, and Middle East and Africa).

Summary

Omega-3 ingredients such as eicosapentaenoic acid (EPA), docosahexaenoic acid (DHA), and alpha-linolenic acid (ALA) are long-chain fatty acids that are essential for maintaining good health. Eicosapentaenoic acid (EPA), docosahexaenoic acid (DHA) are precursors for a group of eicosanoids such as thromboxanes, prostaglandins, and leukotrienes which plays an essential role in anti-inflammation, antithrombotic, antiarrhythmic, and vasodilation. According to the inclination of consumers, omega-3 ingredients can be extracted from animal-based as well as plant-based sources.

About Food Market Division at FMI

Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.

Changing consumer diet style and sedentary lifestyles are often associated with concerns and diseases related to lifestyle changes. In order to overcome these problems, consumers are turning their attention to preventive healthcare and consuming nutritious foods and healthy diet for the benefit of their health and wellbeing. According to a Future Market Insights (FMI) report, changing consumer behaviour will result in high demand for powdered cellulose in the coming years. The study predicts the market’s valuation to surpass US$ 180 Mn by 2021.

According to FMI, the food and beverages industry will emerge as the chief end user, accounting for a little below 22% sales register in 2021. Besides this, the rising demand from construction, pharmaceutical, and other industries will continue supporting the expansion of the market.

The FMI studies deeply into the dynamics to offer remarkable insights into powdered cellulose market. Some of these are:

• Powdered cellulose market will register above 6% CAGR between 2021 and 2031
• The U.S. has emerged as a key market, accounting for over 60% sales in North America
• The increasing demand from various industries will enable the U.K. market exhibit a little below 4% y-o-y growth in 2021
• The expansion of food and construction sectors will support growth in Germany and France
• China will lead East Asia, thanks to the rising demand from the food industry

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“Higher focus on healthy eating have attracted attention towards ingredient list of food products. In general there is higher demand for food products containing ingredients derived from natural sources. This has resulted in increasing use of powdered cellulose as emulsifier and gelling agents in sauces and mixes. The demand for powdered cellulose will therefore continue increasing through the forecast period.” said a lead analyst at FMI

Application of Powdered Cellulose in the Construction Industry to Surge

Fine fibrous structure powdered cellulose consisting minerals and metallic oxides is finding increasing application in the construction sector. During the welding function powdered cellulose protect from oxidation. Therefore it helps to improve the stability and welding function.

Furthermore, owing the functionality as coating and gelling agent, powdered cellulose is used in tile adhesives, cement renders, putty powder, and others. Manufacturers are using powdered cellulose in various construction and welding materials because it improves the operation time. Increasing use in the construction sector will continue supporting expansion of the market.

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Who is winning?

Some of the key players operating in powdered cellulose market Jelu-Werk J. Ehrler GmbH & Co. KG, J. Rettenmaier & Söhne GmbH + Co KG, CFF GmbH & Co. KG, Mikro-Technik GmbH & Co KG, InterFiber Sp. Z.O.O, Ankit Pulps and Boards PVT. LTD., Accent Microcell Pvt. Ltd., Central Drug House (P) Ltd, NB Entrepreneurs, Natural Fiber Solutions and many others. These players are actively involving in changing market strategy, production capacity and other developments to gain competitive advantage.

For instance:

• J. Rettenmaier & Söhne Company, installed its production and business plant in China in 2017.
• In 2016, InterFiber expand its supplier network in Chicago and Philippines to expand its business operations

Get Valuable Insights into Powdered Cellulose Market

Future Market Insights, in its new report, presents an unbiased analysis of the global powdered cellulose market, covering historical demand data and forecast figures for the period between 2021 and 2031. The study divulges compelling insights into growth witnessed in the market. Based on the powdered cellulose market on basis of grade, has been classified as food grade, pharmaceutical grade and industrial grade. Based on functionality, powdered cellulose market are classified as thickener, stabilizer, emulsifier, gelling, coating agent and others. Based on source, powdered cellulose market is classified as soft and hard wood pulp, cotton linter pulp, bamboo, wheat straw pulp and other sources (oats, etc.). Based on end use, powdered cellulose market is classified as food & beverage industry, pharmaceuticals, cosmetics, construction industry, chemical industry, leather industry, textile industry, paper industry and others. Under food and beverage industry, powdered cellulose market further segmented as bakery & confectionery, meat & poultry product, sauces & dressings, beverages, processed food, dairy products and others. Regionally, powdered cellulose covers North America, Latin America, Europe, South Asia, East Asia, Oceania, MEA.

Powdered Cellulose market by category

Grade

• Food Grade
• Pharmaceutical Grade
• Industrial Grade

Functionality

• Thickener
• Stabilizer
• Emulsifier
• Gelling
• Coating Agent
• Others

Source

• Soft and Hard Wood Pulp
• Cotton Linter Pulp
• Bamboo
• Wheat Straw Pulp
• Other Sources (oats, etc.)

End Use

• Food & Beverage Industry
  • Bakery & Confectionery
  • Meat & Poultry Product
  • Sauces & Dressings
  • Beverages
  • Processed Food
  • Dairy Products
  • Others
• Pharmaceuticals
• Cosmetics
• Construction Industry
• Chemical Industry
• Leather Industry
• Textile Industry
• Paper Industry
• Others

Change in consumers’ preference and increasing focus on health and wellness will favor sales of Cavendish banana. Nowadays consumers are engaged in a sedentary lifestyle and have little time to cook healthy food at home. As snacking and consuming comfort food have emerged as a more viable option, they are likely to look for a healthier alternatives. Future Market Insights (FMI) identifies this to be a key factor supporting growth of the Cavendish banana market in a new study.

Also, banana is a part of many ethnic cuisines in African, Latino, Pacific Island, and Asian countries, and Cuba, Puerto Rico, and other Caribbean islands. The large variety of ethnic foods derived from bananas, along with the increasing interest among global consumers in diverse, exotic cuisines, bode well for the Cavendish banana market.

Furthermore, with the rising sedentary lifestyle, there has been strong demand for highly nutritious products to fulfill dietary requirements. Coupled with the introduction of these nutritious foods as a superfood, manufacturers are developing novel products with innovative superfoods such as turmeric, banana, kiwi, and many more to provide exotic flavor as well as superior nutritious value.

Within the Cavendish banana market, conventional Cavendish banana will continue accounting for maximum sales in the market. According to the report, it will hold the dominant share of 92% in the market in 2021 in terms of value.

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Key Takeaways from the Cavendish banana Market Study

• The global Cavendish banana market will register a CAGR of 4.2% in terms of value between 2021 and 2031. The Cavendish banana is consumed on a large scale due to its multifunctional benefits, a trend which is expected to continue through the forecast period
• Rising demand for healthy on-the-go snacks will enable the U.S. account for over 87% of sales in North America in 2021
• High spending power of consumers will enable the U.K. market to register over 6% y-o-y growth in 2021
• Germany and France are expected to register increasing Cavendish banana within Europe
• Expansion of hotel, restaurant, and café (HoReCa) sector will support growth in China, followed by South Korea and Japan

“While farmers conventionally chose fertilizers and pesticides to improve yield, they are gradually shifting towards more sustainable practices. Reduced fertility and health concerns posed by these conventional methods have pushed farmers to explore more environmental-friendly methods. Also the consumer interest has tipped scales in favor of products with non-GMO certification, which will have a significant influence on farming practices undertaken to grow and cultivate Cavendish banana,” said a lead analyst at FMI.

The health benefits offered by the Cavendish banana is fueling the market demand. According to the World Health Organization (WHO), diarrhea is the second-largest cause of death in children under five years old. Each year, 525,000 children die from this disease. Malnutrition is the major cause of diarrhea.

Doctors and patients are more inclined towards the consumption of bananas in place of anti-diarrhea medications owing to the higher effectiveness of bananas even in cases of C. diff infection. The administration of bananas in diets has been helping patients to control diarrhea. Owing to this benefit, many pharmaceutical companies have come up with banana-related products to treat diarrhea. Hence, this health beneficial factor helps drive the demand for bananas from the pharmaceutical industry.

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Who is Winning?

To reduce the environmental impact and costs, players in the global Cavendish banana market are striving to reduce the usage of water. Throughout the supply chain of bananas, water has application in three main stages, i.e. cleaning of the fruit after harvest, pools holding bananas for selection, and lastly for removing latex.

It was noted that around 150 liters of water is needed to produce one box of bananas. Key players in the market like Dole’s New Millennium Packing Plant in Costa Rica have reduced the water consumption to 18 liters per box with the inclusion of water recycling techniques. Emerging players are expected to follow these trends in order to make their supply chain more environment-friendly and efficient.

A few of the leading players operating in the Cavendish banana market are: All Nippon Airways Trading Co Ltd., Exporganic S.A., DISCOVERY ORGANICS, Salix Fruits, Agroexport Carmita, Union de Bananeros de Uraba, GinaFruit S.A., Chiquita Brands International Sàrl, Dole Food Company, Fresh Del Monte Produce Incorporated, Pisum Food Services Private Limited, Reybanpac, Rey Banano del Pacífico C.A., and other players.

Get Valuable Insights into Cavendish banana Market

Future Market Insights, in its new offering, provides an unbiased analysis of the Cavendish banana Market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the Cavendish banana market based on Product Type (Organic Cavendish Banana, Conventional Cavendish Banana, Organic Fairtrade Cavendish Banana, and Conventional Fairtrade Cavendish Banana), Application (Food and Beverage Processing, Cosmetic and Personal Care, Pharmaceutical & Supplements, Animal Feed, Other Industrial, Foodservice (HoReCa), Household (Retail), and Sales Channel (Direct sales and Indirect Sales) across seven major regions.

Yeast-based spreads sales are surging in response to the rising demand for vegan, vegetarian, gluten-free, dairy-free, halal, natural, kosher, and fat-free food items. According to a new study by Future Market Insights (FMI), an increasing number of market players are expected to focus on fulfilling the aforementioned claims to gain impetus amid rising competition. Driven by these factors, the yeast-based spreads market is expected to reach US$ 398.8 Mn in 2021.

The rising prevalence of gluten intolerance and the increasing demand for dairy free products will continue enabling sales in the market.

Key Takeaways from Yeast-based Spreads Report

• Yeast-based spreads market is expected to rise at above 8% CAGR between 2021 and 2031
• Rising prevalence of obesity and diabetes will push demand in the U.S., enabling it account for more than 75% of sales in North America
• The rising demand for dairy-free bakery will enable the U.K. market to exhibit 4.6% Y-o-Y growth in 2021
• Expansion of the vegan food sector will support growth in France and Germany
• Expansion of retail sector will create growth opportunities in Japan and South Korea

“Rising demand for healthy snacking options will enable sales of yeast-based spreads. This trend will continue especially as consumers seek healthier food options with claims such as organic, non-GMO, gluten-free, and others,” said a lead analyst at FMI.

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Health Benefits of the Yeast-Based Spreads Favours the Market Positively

Yeast-based spreads are considered to be healthy as they have a high content of B-Vitamins. B-Vitamins help in the normal functioning of the brain and nervous systems. And yeast-based spreads products such as Marmite have a high amount of B-Vitamins. They also contain niacin, riboflavin and thiamine, as well as magnesium, calcium, potassium, iron and selenium, all of which are considered to be healthy essentials for a human body. Yeast-based spreads being a healthy alternative favours the yeast-based spreads market positively which increases the growth of the market.

Veganism Boosting the Yeast-Based Spreads Market

Yeast-based spreads are vegan products. The Vegetarian Society has certified products such as Marmite “100% Vegetarian”. The increased numbers of consumers who have turned to veganism or partly participating in the vegan trend are also boosting the yeast-based spreads market in the foreseen period. The vegan food trends are at a fast pace due to the new technological innovations which are making non-vegans adopt or try these new vegan products such as Yeast-based spreads as they are more nutritious than the other counterparts.

Diverse Applications of Yeast-Based Spreads Driving Sales

Yeast-Based Spreads are no longer considered just to be a breakfast option had with bread. Though yeast-based spreads are becoming general as a companion product for bread during breakfast time, these are increasingly used to facilitate convenience in preparing other dishes. Spreads are widely being used at corporate lunches, and convenience snacking times, dining events, apart from the conventional breakfast. For instance, Yeast-based Spreads can be used as a bakery filling and with cold dishes for lunch or dinner, savoury spreads can be used in pizza and pasta. The versatility of yeast-based spreads is thus, expected to drive the growth of the yeast-based spreads market over the forecast period.

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Increasing Consumption of Yeast-based Spreads as a Flavor Enhancer

The shift among manufacturers from artificial ingredients to natural ones has resulted in the manufacturers finding alternatives for MSG which is manufactured synthetically and is used in numerous food products. This has led to a growing demand for yeast products as a food flavour enhancer. This is more popular in the developed countries as the consumers as well as food processing manufacturers are well aware of the products that are available in the market and the products that are in the development phase. Also, the consumption of processed food products has increased owing to the changing lifestyle of the consumers and the increase in urbanization. This has also increased the demand for yeast-based spread as a food flavour enhancer which is leading to an increase in the market growth of the yeast-based spreads market in the forecast period 2021-2031.

Expansion of HoReCas Creating Sales Opportunities

In Oceania and European countries where there is a larger market of yeast-based spreads, if there is a rise in the number of retail chains and HoReCa chains then the demand for the yeast-based spreads would be increased too which in turn will propel the yeast-based spreads market in the forecast period 2021-2031.

Who is winning?

Numerous companies in the yeast-based spreads market have brought in different strategies to stay ahead in the competition. For instance,

• In 2017, Bega Cheese, one of the key players of the yeast-based spreads market developed a new strategy to reduce its cost by stopping all the third-party contracts. This helped them to reduce the costs of the manufacturing

Some of the other companies are focusing on improving their product portfolio. For instance,

• In 2019, Mars acquired Foodspring, a company based in Berlin which deals with direct-to-consumer targeted nutrition company

Some of the leading companies in the yeast-based spreads market are Mars Foods, Unilever Plc., All Natural Foods of Stirling, Nature’s Blend, Jardox Ltd., Sanitarium Health & Wellbeing, Bramwells, AussieMite, Marmite (New Zealand), Oxo (food), VITAM, Bega Cheese, and Three Threes Condiments Pty. Ltd.

Get Valuable Insights into Yeast-based Spreads Market

Future Market Insights, in its new report, presents an unbiased analysis of the global plant-based nuggets market, covering historical demand data and forecast figures for the period between 2021 and 2031. The study divulges compelling insights into the growth witnessed in the market. Based on Product Type Yeast-based Spreads Market, has been classified into Aussiemite, Cenovis, Marmite, Marmite (New Zealand), Oxo (food), Vegemite, Vitam-R, Others. Based on Nature, the Yeast-based Spreads Market is segmented into Organic, Non-GMO, and Conventional. In terms of end-use, it has been classified into Food Services and Business to Consumers, where Food Services is further classified into Hotels, Restaurants and Cafes. And Business to Consumers is further classified into Hypermarkets/Supermarkets, Convenience Stores, Mom & Pop Stores, Discount Stores, Food Specialty Stores, Independent Small Groceries, Online Retail, Other Retail Formats. Regionally, the market covers North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa.

According to a new study by FMI, sales of Spirulina Powder is expected to reach ~US$ 358 Mn in 2019. After the approval from the FDA for use of spirulina in food & beverage products, the demand for spirulina increased. Multiple companies invested in research and development to launch unique and innovative products using spirulina. Spirulina powder is used in various applications such as food and beverage, dietary supplements, pharmaceuticals, animal & aquaculture, and cosmetic & personal care industry. In last two years, multiple products are launched in the food and beverage industry in which spirulina powder is used as a primary ingredient. Natural Blue and Green Color produced from spirulina is in high demand and witnessed a strong market growth in last two years.

• Demand for spirulina powder is growing rapidly as it is the super-food, which contains highest amount of protein found in any natural grown food. It also contains highest amount of vitamins, minerals and other essential nutrients, which makes it an ideal dietary supplement. Spirulina powder contains vitamin A, B, C, E, & K, and minerals such as magnesium, calcium, sodium, iron, phosphorus, zinc and manganese.
• Sales of Spirulina is increased in past three years due to a positive perception towards the super-food, which consists of enormous amount of nutritional contents. Around 4 gram (1 teaspoon) of Spirulina can give sufficient quantity of protein, vitamin and minerals, which is generally obtained from food consumed in a whole day.

Organic and natural formulations have been consistently increasing trend since the past decade, and the trend is expected to continue over the forecast period. As per the USDA, over 75% of the grocery stores carried organic products in the year 2013. The demand for organic spirulina powder is growing as compared to conventional spirulina powder.

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In 2013, the U.S FDA approved the use of natural colorant made from spirulina. Multiple companies across the globe are producing natural colorant from spirulina such as Blue, Red, Green and Brown. In Europe, ESPA banned the use of synthetic colorant in food products, which helped spirulina powder to gain momentum in the natural colorant market.

Rising Use of Spirulina Powder in the Cosmetic & Personal Care Industry

Spirulina powder contains antioxidants and anti-inflammatory properties, which is witnessing a high growth in the cosmetic industry. Spirulina powder contains vitamins such as A, C & E in large quantities that are antioxidants and provide nourishment to the skin, due to which it is used in moisturizing and skin care creams.

Manufacturers have started using micro-algae in skin problems such as anti-aging, tanning, and pigmentation issues. Spirulina powder is used in anti-aging creams, skin whitening creams and pigmentation reducing products. Spirulina powder also has anti-cancer properties, which will boost the demand of its cosmetic products, as people prefer to take treatment which doesn’t require consumption of medicines.

Cost-Effectiveness

Despite the rise and fall of spirulina production globally, prices are maintained at an optimum level with a variance in prices of maximum 15% year on year. Multiple factors play an important role in identification of market prices such as spirulina powder production cost, processes used, labor cost, electricity and water cost, transportation cost and much more. Due to a subtle process by which manufacturers produce low processing cost, the Spirulina products such as spirulina powder are also found to be cost-effective and benchmark with its parent market prices. Various manufacturers are focused toward providing spirulina powder at an optimum price, owing to their high demand among consumers. Different companies have implemented integrated production approach to deliver cost-effective products.

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The global spirulina powder market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.

By Nature

• Organic
• Convention

By Application

• Food & Beverage
• Dietary Supplements & Pharmaceuticals
• Animal & Aquaculture Feed
• Cosmetics & Personal Care
• Others

By Sales Channel

• Direct Sales
• Retail Sales
  • Modern Trade
  • Specialty Stores
  • Pharma & Drug Stores
  • Online Retail
  • Other Retailing Formats

Usage of Spirulina Powder in Fish and Animal Feed Creating Demand

Spirulina powder has found application in animal feed, pet food and fish food since, animals and pets can easily digest spirulina powder and even don’t get any allergy or medical problems after consuming spirulina powder. Spirulina powder, which is rich in protein, vitamin and minerals can increase the health of animals & fish and also help in fighting various medical problems in animals. Spirulina powder is used as food for fish for several years due to the food preference, which also reduces the cost of production of fish at commercial scale. Use of Spirulina powder as a food for animals and fish is increasing and which is creating a demand for the product and helps in the overall development of food chain.

This study by FMI offers insights into the spirulina powder market for the forecast period of 2019-2029. The spirulina powder market is projected to record a CAGR of ~6% during the predefined period.

The U.S. Department of Agriculture (USDA) guidelines recommend the consumption of tilapia as a rich source of protein with 20 grams accounted for in a small fillet. Tilapia also contains a relatively comparatively smaller quantity of saturated fat content. The increasing number of pescatarians globally is strengthening the tilapia market, finds Future Market Insights (FMI) in a study. Benefits in terms of sustainability offered by tilapia in comparison to other animal-based products, will facilitate growth of the market at a CAGR of over 4% between 2021 and 2031.

Tilapia is a widely grown fish in the global market and is considered a sustainable source of seafood. Key players in the global tilapia market are anticipated to gain from the increasing demand for tilapia especially in emerging markets. Manufacturers in China and Egypt are anticipated to gain ground, as these countries have established infrastructure backed by a dedicated consumer base.

Production of Nile Tilapia is primarily witnessed in MEA, Asia Pacific, and Latin American countries. However, North America led by the United States is also upgrading its production capacity through investments in aquaculture projects. Food industry will remain a chief end user accounting for over 40% sales registered in the market.

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Key Takeaways from the Tilapia Market Study

• South and East Asian countries led by China are expected to lead the tilapia market, with value market share of 42.1% and 33.0% respectively.
• The United States is anticipated to account for over 95% of sales in North America over the forecast period due to increasing consumption of packaged and processed tilapia products.
• The U.K. will emerge as a highly lucrative market, exhibiting over 7% y-o-y growth in 2021
• Germany and France will exhibit considerably high demand for Tilapia, emerging as lucrative markets within Europe

“Manufacturers are developing advanced production and harvesting technologies to enhance the quantity and quality standards of tilapia production. These novel technologies are also expected to reduce the incidence of disease in tilapia farms, which will positively influence operations and sales in the foreseeable future,” says an FMI analyst.

Tilapia Establishing its Presence in Retail Space

The application of tilapia in the food industry is expected to remain considerably higher than others (pharmaceutical, animal feed). Emerging markets for tilapia such as United States, and India, are witnessing a rising demand of frozen, ready-to-eat tilapia products. Gradually and progressively tilapia and its products are gaining a notable presence in retail shelfs even in relatively remote regions due to its availability and ability to thrive in harsh and varied environmental conditions.

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Polyculture for Tilapia Farming Boosting Production

Efforts towards sustainability in tilapia farming, has pushed manufacturers to adopt polyculture, enhancing productivity in return. Manufacturers are analyzing polyculture of tilapia among other fishes such as catfish, prawns, and some predatory species such as largemouth bass to reduce tilapia overbreeding. Different species for polyculture influences quality as well as production quantity.

Who is winning?

Some of the leading players operating in the Tilapia market are Baiyang Aquatic Group, Blue Ridge Aquaculture, Inc., A.O.Kingdom International Co., Ltd, Nova Sea Foods, Hainan Sky-Blue Ocean Foods Co, Hainan Xiangtai Fishery Co, Guangdong Evergreen Conglomerate Co., Ltd., Hebei Zhongjie Tilapia Breeding Co. Ltd, Amyco Group Limited., Regal Springs, and other players.

Key players of Tilapia are striving to consistently develop novel aquaculture techniques and vertical integration. Tilapia manufacturers such as Baiyang Aquatic Group has achieved vertical integration in the supply chain of tilapia by establishing fish feed unit, and tilapia processing unit. Tilapia processing unit utilizes all the waste generated in the filleting procedure and uses it for the production of various products such as pharmaceuticals, cosmetics, and other products.

• In November 2020, Blue Ridge Aquaculture (BRA) invested US$ 2.5 Mn in a nursery facility to support existing as well as increasing farming activities.
• Government of Singapore is envisioning elimination of export for food, thus manufacturers of tilapia in the country has huge opportunity to grow as the government is providing all the essentials at a minimal cost.

Get Valuable Insights into Tilapia Market

Future Market Insights, in its new offering, provides an unbiased analysis of the Tilapia market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the Tilapia market based on Source (Organic, Conventional), Species (Nile Tilapia (OREOCHROMIS NILOTICUS), Blue Tilapia (OREOCHROMIS AUREUS), Mozambique Tilapia (OREOCHROMIS MOSSAMBICUS), and Wami Tilapia (OREOCHROMIS UROLEPIS HORNORIUM)), Form (Fresh and Processed), Sales (Direct Sales, Retail Sales), and Application (Food Industry, Pharmaceutical Industry, Animal Feed, Pet Food, Food Service, Retail) across seven major regions (North America, Latin America, Europe, Asia Pacific, Oceania, Japan, and Middle East and Africa).