The forecast for frozen tilapia fillets imports to the US from 2024 to 2028 shows a gradual decline, with values slightly diminishing each year. As of 2023, the value stood at $445.56 million. The projected year-on-year decrease reflects minimal changes of approximately 0.22% between 2024 and 2025, continuing this gradual decline through 2028. The five-year forecasted compound annual growth rate (CAGR) reveals a modest average annual decrease of about 0.19%.
Future trends to watch for include:
- Potential shifts in consumer preferences towards more sustainable seafood options.
- Impact of international trade regulations and tariffs.
- Environmental factors affecting tilapia production globally.