What is the global market size of Plant-Based Seafood Market?

Plant-Based Seafood Market size was valued at USD 42.1 million in 2021 and is poised to grow from USD 59.95 million in 2022 to USD 1300 million by 2030, growing at a CAGR of 42.3% in the forecast period (2023-2030).

Global Plant-Based Seafood Market Size, Share, Growth Analysis, By Product(Fish Products, Prawn and Shrimp Products and Crab Products and others), By Distribution channel(HoReCA, Supermarkets and Hypermarkets), By Source(soy, wheat) - Industry Forecast 2024-2031

Report ID: SQMIG30H2085 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 93 | Figures: 76

Global Plant-Based Seafood Market Insights

Plant-Based Seafood Market size was valued at USD 42.1 million in 2019 and is poised to grow from USD 59.95 million in 2023 to USD 1300 million by 2031, growing at a CAGR of 42.3% in the forecast period (2024-2031).

Plant-Based Seafoods are becoming popular since they are healthy alternatives which are safe,Mercury Free native that still provide necessary proteins also lessen the guilt associated with overfishing that comes with eating seafood.

There are many benefits provided by plant based seafoods and the main benefit includes environmental friendliness. It includes alleviating pressures on rapidly depleting fisheries, providing relief to fragile ecosystems of oceans, reducing the impact of fishing Nets on the ocean plastic problem and reducing production related GHG emissions. Due to the busy lifestyle and increasing working population, the individuals are looking for healthy, affordable, non-perishable items that the households can stockpile.Plant based seafoods are the major alternative for this demand, which will help in increasing the growth of the market.

US Plant-Based Seafood Market is poised to grow at a sustainable CAGR for the next forecast year.

Global Plant-Based Seafood Market Report Snapshots

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Competition in the global Plant-Based Seafood market is expected to increase during the forecast period because new players are expected to enter in the global market and the number of products compatible with Plant-Based Seafood will also increase. Currently, only a few key players are providing their services in the global market but these numbers will increase in the upcoming years. 'Beyond Meat', 'Impossible Foods', 'Quorn Foods', 'Gardein', 'Good Catch', 'Sophie's Kitchen', 'Ocean Hugger Foods', 'New Wave Foods', 'Loma Linda', 'Tofurky', 'Alpha Foods', 'Atlantic Natural Foods', 'The Vegetarian Butcher', 'VBites Foods', 'Ahimi', 'Akua', 'Plantible Foods', 'Hooray Foods', 'Kuleana', 'Ocean's Halo'

One of the major factors which is promoting the plant based seafood is the rising popularity of veganism. Majority population across the globe are converting to veganism due to health awareness and upgrade in lifestyle. Many individuals are becoming towards the environment and animal protection, therefore, rising concerns due to the increasing fishing activities in the sea has propelled the plant based seafood market.

The major plant based seafood firms across the globe are on the machine to accelerate the proliferation of plant based proteins in food service by creating a positive experience centered around the community while addressing health and environmental concerns. There is a major trend to disrupt the plant based food and seafood industry with products that deliver on the taste and texture like the conventional seafood. The offering brings cutting edge innovations and diversity to the young but fast growing plant based seafood category.

Globally, Europe is estimated to hold the highest global Plant-Based Seafood market share followed by North America and Asia Pacific. In Europe, the U.K., Germany, and France are the leading revenue generator countries to the Europe market. Main factors during this growth period is the presence of top market players, increasing demand and others.

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Global Plant-Based Seafood Market Size, Share, Growth Analysis, By Product(Fish Products, Prawn and Shrimp Products and Crab Products and others), By Distribution channel(HoReCA, Supermarkets and Hypermarkets), By Source(soy, wheat) - Industry Forecast 2024-2031

Global Plant-Based Seafood Market Insights

Global Plant-Based Seafood Market Report Snapshots

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