Global Plant-Based Seafood Market, By Product Type (Fish Products, Prawn and Shrimp Products and Crab Products), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online and Others), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of the Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights Global Plant-Based Seafood Market
The plant-based seafood market is expected to witness market growth at a rate of 28.5% in the forecast period of 2022 to 2029. Data Bridge Market Research report on plant-based seafood market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market's growth. The rise in the number of consumers around the world adopting vegan lifestyle is escalating the growth of plant-based seafood market.
Plant-based seafood is referred to a seafood-like vegan substitute with similar color, texture, appearance, and flavor. It is normally produced by mixing plant protein isolates, soy, starch, vegetable extracts, edible oils, and other seasonings. These raw materials are further processed with additives and coloring agents to gain flavor and texture similar to fish, shrimps, crabs, and so forth. Plant-based seafood products are ecologically sustainable as they help in reducing the increased consumption of seafood, thereby relieving pressures on the depleting fisheries across the world.
Major factors that are expected to boost the growth of the plant-based seafood market in the forecast period are the rise in the popularity of veganism. Furthermore, the rising concerns towards the environment and animal protection is further anticipated to propel the growth of the plant-based seafood market. Moreover, the growing demand for plant-based seafood products is further estimated to cushion the growth of the plant-based seafood market. On the other hand, the increased incidence of chronic gastrointestinal disorders because the occurrence of mercury and other toxic pollutants in seafood is further estimated to cushion the growth of the plant-based seafood market. On the other hand, the plant-based fish products demand developed method during the production, packaging and distribution is further projected to impede the growth of the plant-based seafood market in the timeline period.
In addition, the growing number of consumers choosing a healthy lifestyle will further provide potential opportunities for the growth of the plant-based seafood market in the coming years. However, the dearth of the awareness may come in the way of making it more versatile might further challenge the growth of the plant-based seafood market in the near future.
This plant-based seafood market report provide details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on plant-based seafood market, contact Data Bridge Market Research for an Analyst Brief, Our team will help you take an informed market decision to achieve market growth.
Global Plant-Based Seafood Market Scope and Market Size
The plant-based seafood market is segmented on the basis of product type and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product type, the plant-based seafood market is segmented into fish products, prawn and shrimp products and crab products.
- On the basis of distribution channel, the plant-based seafood market are segmented into supermarkets and hypermarkets, convenience stores, online and others.
Plant-Based Seafood Market Country Level Analysis
The plant-based seafood market is analyzed, and market size, volume information is provided by country, product type and distribution channel as referenced above.
The countries covered in the plant-based seafood market report are the U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).
Europe dominates the plant-based seafood market due to the back to back product launches by start-ups. Furthermore, the occurrence of various celebrated food chains providing plant based fish products in their menu will further boost the growth of the plant-based seafood market in the region during the forecast period. East Asia is projected to observe significant amount of growth in the plant-based seafood market due to the rise in the plant-based fish products. Moreover, the increasing environmental concerns is further anticipated to propel the growth of the plant-based seafood market in the region in the coming years.
The country section of the plant-based seafood market report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as consumption volumes, production sites, and volumes, import-export analysis, price trend analysis, cost of raw materials, downstream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Plant-Based Seafood Market Share Analysis
The plant-based seafood market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to plant-based seafood market.
Some of the major players operating in the plant-based seafood market are Beyond Meat., Impossible Foods Inc., Umiami, Memphis Meats, ChickP, Vestkron A/S, Aspire Food Group, Aleph Farms, Ingredion., Gushen Biotechnology Group Co., Ltd., Roquette Frères., Glanbia PLC, CHS Inc., AGRANA Beteiligungs-AG, Nestlé, Tyson Foods, Inc., Ingredion GmbH, Symrise, ADM, and Kellogg NA Co., among others.
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