Figure 51: Brazil: Plant-based Seafood Market: Sales Value (in Million US$), 2017 & 2020
13.3.8.1 Company Overview
Figure 75: Global: Plant-based Seafood Industry: Porter’s Five Forces Analysis
Figure 1: Global: Plant-based Seafood Market: Major Drivers and Challenges
Abstract . Figure 61: UAE: Plant-based Seafood Market: Sales Value (in Million US$), 2017 & 2020
It is generally produced by mixing plant protein isolates, soy, starch, vegetable extracts, edible oils, … 8.2.5.2 Market Forecast
Figure 70: Canada: Willingness to Reduce Meat Consumption
2.4.2 Top-Down Approach
Table 4: Global: Plant-based Seafood Market Forecast: Breakup by Region (in Million US$), 2021-2026
6.1 Fish Products
Our report has categorized the market based on region, product type and distribution channel. 10.1 Overview
And, as more people turn to the vegan lifestyle, plant-based seafood is poised for growth. Plant-based seafood alternatives are part of the plant-based meat category, which is now estimated to be worth more than $800 million annually, a growth of 10% 13.3.13 Tofuna Fysh
“The only truly sustainable seafood is seafood that allows fish to remain in the ocean. Benzaquen, who will be a speaker at SeaAhead’s Global Bluetech Summit on October 9-10 in New York, caught up with SeaAhead recently to discuss the rapid growth of plant-based alternatives to seafood and their promising economic, environmental, and social effects. “When you dial into the younger generation, it’s really much more about their concerns for the environment,” she said. 8.5.1.1 Market Trends
7.2 Convenience Stores
8.5.2.2 Market Forecast
Plant-Based Foods of Canada works to educate consumers, government and industry partners about the benefits of plant-based foods, in order to modernize industry regulations and make plant-based eating … 13.3.12.1 Company Overview
13.3.6.2 Product Portfolio
Seafood-free products: Make any of your favourite seafood recipes animal-friendly with these plant-based products. 8.2.4 France
13.3.9.1 Company Overview
These raw materials are further processed with additives and coloring agents to gain flavor and texture similar to fish, shrimps, crabs, etc. 8.5.3.2 Market Forecast
5.2 Market Performance
13.3.3.1 Company Overview
Plant-Based Meat Purchase Dynamics 1 Of all U.S. households, 14% purchase plant-based meat, which equates to approximately 18 million households. These products are also appealing to meat-eaters looking to reduce their meat consumption. 8.4.1 Brazil
5.1 Market Overview
8.1.1.2 Market Forecast
4.1 Overview
IMARC Group provides an analysis of the key trends in each sub-segment of the global plant-based seafood market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Figure 21: North America: Plant-based Seafood Market: Sales Value (in Million US$), 2017 & 2020
Only 16 percent of reducers have already purchased and tried plant-based seafood, while for egg alternatives, the consumption rate is even lower, at only 11 percent. 8.5.2.1 Market Trends
Figure 45: Singapore: Plant-based Seafood Market: Sales Value (in Million US$), 2017 & 2020
“Plant-based protein is one of the most important consumer trends in decades, with explosive demand for healthy, sustainable products, and New Wave Foods is delivering a plant-based seafood alternative that is delicious, responsible, and humane. 7.4.2 Market Forecast
But we are already seeing some pushback from the fish industry, similar to what we’ve seen from the milk and meat industries.”. 8.2.2.2 Market Forecast
U.S. retail sales of plant-based foods grew 11.4% in 2019, bringing the total plant-based market value to $5 billion. 7.1.1 Market Trends
Figure 19: Global: Plant-based Seafood (Other Distribution Channels) Market: Sales Value (in Million US$), 2017 & 2020
8.2.4.2 Market Forecast
A plant-based diet or a plant-rich diet is a diet consisting mostly or entirely of plant-based foods. Figure 72: Canada: Percent of Population That Considers Lab-grown Meat as an Alternative
Jen Lamy, GFI’s sustainable seafood initiative manager, agreed. What are the various stages in the value chain of the industry? 13.3.14.2 Product Portfolio
2.5 Forecasting Methodology
The aforementioned Good Catch burst onto the scene in 2018 when it secured USD 8.7 million (EUR 7.5 million) in funding to start distributing its plant-based tuna pouches and other products. Figure 38: Others: Plant-based Seafood Market Forecast: Sales Value (in Million US$), 2021-2026
8.2.5.1 Market Trends
And as more people turn to the vegan lifestyle, plant-based seafood is poised for growth. T… Click to Enlarge The plant-based fish and seafood categories are expected to grow further in 2021. While retailers carry an average of 41 plant-based milk products, they carry an average of 24 plant-based meat and seafood products. Alternative seafood: Assessing food, nutrition and livelihood futures of plant-based and cell-based seafood. 13.3.12 SoFine Foods
Figure 41: China: Plant-based Seafood Market: Sales Value (in Million US$), 2017 & 2020
In a statement sent to Plant Based News, Proveg said that for predictions on the growth of plant-based categories, manufacturers can look to the market for plant-based meat alternatives. 13.3.13.2 Product Portfolio
Figure 63: Others: Plant-based Seafood Market: Sales Value (in Million US$), 2017 & 2020
US-based Good Catch Foods is one of the biggest players in the plant-based space, and the company recently expanded to the European market. Figure 44: Japan: Plant-based Seafood Market Forecast: Sales Value (in Million US$), 2021-2026
Show additional statistics. Figure 55: Others: Plant-based Seafood Market: Sales Value (in Million US$), 2017 & 2020
8 Market Breakup by Region
Several brick-and-mortar and online distribution channels are introducing a wide array of plant-based seafood products catering to different consumer tastes and preferences, thereby augmenting the global market. 13.3.6.1 Company Overview
8.3.3 Singapore
Figure 15: Global: Plant-based Seafood (Convenience Stores) Market: Sales Value (in Million US$), 2017 & 2020
“Consumers want healthier, more nutritious … Furthermore, the rising adoption of these food products across several cuisines, including Chinese, Thai, Mexican, etc., will continue to drive the global market for plant-based seafood in the coming years. “We know origin matters – that’s our starting point,” he said. What is the breakup of the market based on the product type? 12.3 Bargaining Power of Suppliers
13.3.4.2 Product Portfolio
13.3.14.1 Company Overview
PBFA’s Simon confirmed that issues surrounding the labeling of plant-based seafood alternatives have indeed come up for the organization and its seafood-inspired members. It will open more roads for doing sustainable business in the global market. 13.3.6 Impossible Foods Inc
Figure 5: Global: Plant-based Seafood Market: Breakup by Region (in %), 2020
In the UK, nearly one in four … The movement is also almost twice as popular as it was just five years ago, reported Chef’s Pencil. “Successful plant-based products are appealing to consumers on those attributes more than ever. In comparison, sales in the conventional meat category grew just two percent during the same period. 12.6 Threat of Substitutes
2.2 Stakeholders
Figure 66: United States: Plant-Based Meat Industry: Consumer Demographics
13.3.5.1 Company Overview
13.3.5 Good Catch Foods
Though per capita Chinese meat consumption still lags behind Western countries, the size of the Chinese meat market was … Plant-based Seafood Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026, World’s largest food event to generate record trade in Feb, Indian Dairy Firms Now Look to Sell Protein Supplements Added Milk, The Business of Health Care December 2016. “One thing that has come up [with plant-based seafood alternatives] is the labeling issue,” Simon said. “The fact that it tastes good” is also a primary motivating factor for consumers as far as plant-based products are concerned, Simon added. Figure 69: Canada: Current Meat Consumption Pattern
Over the last few years, innovation and customer demand have moved the category beyond the longtime staples (i.e., plant-based meats and milk alternatives) and into a variety of new plant-based offerings across the entire store. Plant-based burger alternatives often get the spotlight, as plant-based seafood only accounts for 1% of the plant-based protein sales. David Benzaquen, founder of Ocean Hugger Foods and vegan investor joins Elysabeth Alfano on the Plantbased Business Hour to discuss 1) the growth of plant-based seafood, 2) pain points for plant-based businesses and 3) who should be educating the consumer on plant-based products. Figure 68: United States: Changes in Meat Consumption
IMARC offers market research reports and consulting services to clients consisting of, but not limited to, SMEs and Fortune 500 companies.
2.3.1 Primary Sources
Table 5: Country-wise Vegan Population
8.2.1.1 Market Trends
This is an increase of 1.1 points, or 8.5%, from last year' 12.9% of U.S. households. [CDATA[ 6 Market Breakup by Product Type
©Sophie’s Kitchen. 8.3.1 China
8.2.3.1 Market Trends
2.3.2 Secondary Sources
Founded by Emil Wasteson and Tom Johansson, the new startup Hooked is developing an innovative plant-based shredded salmon alternative. 13.3.1.1 Company Overview
Nestle Malaysia recently completed the establishment of a specialized plant-based facility in its Shah Alam plant, its first in South East Asia and the only other one in Asia apart from a China-based facility located in Tianjin which just started operations at the end of 2020.. Figure 47: Others: Plant-based Seafood Market: Sales Value (in Million US$), 2017 & 2020
By Neil Ramsden Jan. 26, 2021 09:50 GMT . Appealing to younger demographics is of the utmost importance to plant-based food producers of all types, according to PBFA and Simon. “Plant-based protein is one of the most important consumer trends in decades, with explosive demand for healthy, sustainable products, and New Wave Foods is delivering a plant-based seafood alternative that is delicious, responsible, and humane. “Regardless of what people tell pollsters, studies of what people actually choose to eat (“revealed preference”) consistently show that taste, price, and convenience determine what most people eat,” Lamy said. According to the latest report by IMARC Group, titled “Plant Based Seafood Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global plant-based seafood market size reached a strong growth in 2020.
A slew of plant-based product launches here ended last year on a high, with the spotlight trained on the booming alternative meat industry. That doesn’t include the additional USD 250,000 (EUR 222,800) the business received in March 2019 from Kale United AB, a Swedish investment firm focused on plant-based businesses. Figure 9: Global: Plant-based Seafood (Prawn & Shrimp Products) Market: Sales Value (in Million US$), 2017 & 2020
Figure 12: Global: Plant-based Seafood (Crab Products) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 73: Global: Plant-based Seafood Industry: SWOT Analysis
8.4.3.1 Market Trends
8.2 Europe
In a way, the seafood industry is facing many of the same challenges as the dairy industry, which is being disrupted by a cohort of startups that are milking concerns about climate change, animal welfare, and human health into a multi-billion-dollar business. One of the biggest growth categories last year was plant-based eggs, as JUST Egg grew its reach to new retail and foodservice outlets. Plant-based meat now accounts for 2 percent of retail packaged meat sales. enhance our services. Figure 29: United Kingdom: Plant-based Seafood Market: Sales Value (in Million US$), 2017 & 2020
6.3 Crab Products
What are the key driving factors and challenges in the market? Health-conscious consumers, especially those counted among the younger generations, said Michele Simon, PBFA’s executive director. Figure 53: Mexico: Plant-based Seafood Market: Sales Value (in Million US$), 2017 & 2020
Figure 54: Mexico: Plant-based Seafood Market Forecast: Sales Value (in Million US$), 2021-2026
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8.2.3.2 Market Forecast
New York City, New York-based Ocean Hugger Foods, another seafood analog developer, has also seen its share of investment, having completed its third early-stage venture capital funding round in January 2019, netting USD 2.88 million (EUR 2.57 million). The competitive landscape of the industry has also been examined with some of the key players being Ahimsa Foods, Atlantic Natural Foods, Bonsan, Ocean Hugger Foods, Good Catch Foods, Impossible Foods Inc, Sophie’s Kitchen Inc, New Wave Foods, Gardein, Quorn (Monde Nissin Corporation), Qishan Food Limited Company, SoFine Foods, Tofuna Fysh, and Vivera. 2 Scope and Methodology
Figure 14: Global: Plant-based Seafood (Supermarkets & Hypermarkets) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 34: Netherlands: Plant-based Seafood Market Forecast: Sales Value (in Million US$), 2021-2026
10.5 Threats
Impossible Foods recently announced it is working on a plant-based fish as part of the mission to create replacements for all animal-based foods by 2035. 1 Preface
Figure 23: United States: Plant-based Seafood Market: Sales Value (in Million US$), 2017 & 2020
Thai Union Group began rolling out plant-based "seafood" products late in … If the news cycle over the past few years is any indication, more plant-based seafood alternative developers are cropping up to help put the segment on the map. For further information review our Privacy Policy. “Taste is always high up there as a default,” she said. Figure 49: Latin America: Plant-based Seafood Market: Sales Value (in Million US$), 2017 & 2020
Additionally, the changing consumer inclination from a non-vegetarian diet towards plant protein-sourced foods is also propelling the product demand. 13.3.12.2 Product Portfolio
8.2.4.1 Market Trends
(i.e., plant The US leads the world in demand for plant-based meat—largely due to the introduction of Impossible Foods and Beyond Meat—but other countries are in hot pursuit. 13.3.8.2 Product Portfolio
Figure 40: Asia Pacific: Plant-based Seafood Market Forecast: Sales Value (in Million US$), 2021-2026
According to Chicago-based Nielsen’s 2019 “Protein Proliferation” report, 19% of consumers surveyed said that they intended to increase their consumption of meat and seafood — more than any other protein group. “For meat, the health proposition is clearer – red meat and processed meats, in particular, have been identified as causing diseases and not being good for you in certain quantities. Spreads, dips, sour cream and sauces grew more than any other category, expanding by 52%. The members of Plant-Based Foods of Canada (PBFC) are part of the ecosystem of plant-based food products that provide choice for Canadian consumers as they look to include more plant-based options in their diets. plant-based meat around the world The US leads the world in demand for plant-based meat—largely due to the introduction of Impossible Foods and Beyond Meat—but other countries are in hot pursuit. 13.3.2 Atlantic Natural Foods
Veganism is as popular as ever, according to new data. Figure 7: Global: Plant-based Seafood (Fish Products) Market: Sales Value (in Million US$), 2017 & 2020
It focuses on identifying research questions regarding the implications of alternative seafood for food and nutrition security, livelihoods and the … 12.4 Degree of Competition
Figure 11: Global: Plant-based Seafood (Crab Products) Market: Sales Value (in Million US$), 2017 & 2020
While plant-based milk products dominate the sector, plant-based meat and protein alternatives, including seafood-inspired options, are contributing to the category’s growth consistently and in innovative ways. We have products now using our terminology…that are defined by the FDA not to be what they’re claiming to be. Figure 67: United States: Current Meat Consumption Pattern
8.3.3.1 Market Trends
7.1.2 Market Forecast
6.3.1 Market Trends
PBFA itself – whose membership network includes plant-based seafood alternative providers such as Good Catch, Ocean Hugger Foods, and Fry Family Foods – has been attempting to do just that with its Power Plant campaign, a first-of-its-kind grab-n-go concept offering “a turn-key solution to meet the high demand for plant-based foods on college campuses, in retail and foodservice retail spaces, airports, hospitals, and other destinations across the United States,” the plant-based foods promotional organization wrote on its website. 8.3.1.1 Market Trends
“While our target … 13.3.7.1 Company Overview
Thai Union plans to release plant-based shrimp in 2021 . 5.3 Impact of COVID-19
13.3.2.1 Company Overview
The use of the phrase "plant-based diet" has changed … The growth of free-from in the plant-based category and the challenge of adapting to a global pandemic are hot topics for Food Manufacture Excellence Awards finalist Freaks of Nature. Diversified Communications | 121 Free Street, Portland, ME 04101 | +1 207-842-5500. Figure 60: South Africa: Plant-based Seafood Market Forecast: Sales Value (in Million US$), 2021-2026
Justin Chou: Plant-based seafood is currently being executed two or three ways globally. Figure 39: Asia Pacific: Plant-based Seafood Market: Sales Value (in Million US$), 2017 & 2020
Figure 56: Others: Plant-based Seafood Market Forecast: Sales Value (in Million US$), 2021-2026
Plant-based seafood refers to a seafood-like vegan alternative with similar color, texture, appearance, and flavor. 8.2.5 Others
There are now about 20 companies in the US developing plant-based seafood, and Impossible Foods recently said producing a fish substitute was a high priority. TUNO also sells three-ounce pouches in three flavors: Sesame Ginger, Thai Sweet Chili, and Lemon Pepper. Refrigerated plant-based meat is driving category growth with sales up an impressive 37 percent. List of Tables
In the US, the country with the most vegan seafood start-ups, plant-based seafood made up only 1% ($9.5m) of the dollar amount of all retail sales of plant-based meat in 2019. 8.1.1 United States
While these are part of global efforts by the food giants to expand plant-based menus around the world, they’re notable because meat consumption has been rising steadily in China and the rest of Asia in recent years, correlated with rising incomes. Our team of skilled analysts focuses on understanding the requirements of our clients so as to provide insights best suited to their unique needs. Who is to thank for this significant expansion? According to the latest report by IMARC Group, titled “Plant Based Seafood Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global plant-based seafood market size reached a strong growth in 2020. plant-based products are delicious—and we want them to be widely available, convenient and an affordable exciting option for consumers. Figure 65: Popularity of Veganism
Interest in plant-based eating is increasing as people become aware that plant-based foods are nutritious and environmentally-friendly. Plant-based food refers to … Figure 71: Canada: Percent of Population That Feels Meat is Replaceable in Their Diet
The GFI found plant-based seafood to make up just 1% ($9.5m) of the total amount of plant-based meat sales in the US in 2019. A spokesperson for ANF confirmed to SeafoodSource in March that 1,100 Walmart stores are carrying the line, which includes Sriracha, Lemon Pepper, and Spring Water varieties in easy-to-open five-ounce cans. 6.1.2 Market Forecast
Currently, plant-based meats account for 2 percent of retail packaged meat sales, with refrigerated plant-based meat “driving category growth with sales up an impressive 37 percent,” according to the SPINS figures. Do you believe plant-based seafood is … 13.3.14 Vivera
7.2.2 Market Forecast
PLANT-BASED MEAT AROUND THE WORLD. “Plant-based seafood is a small, but growing segment of the overall market,” Lamy said. // ]]>. Check out your local health food store, Asian supermarket or vegan specialty store to explore their range of meat-free meats and seafood. According to MarketsandMarkets, China, Germany, the UK, and France are projected to have high growth in demand in the coming years. Figure 74: Global: Plant-based Seafood Industry: Value Chain Analysis
Plant-based fish and shellfish present a massive market opportunity, especially with growing unmet demand for seafood globally.”. According to Aranols, the firm spent around RM150mn (US$37mn) out of a total of RM280mn … 5.4 Market Forecast
Plant-based seafood is a market white space. The Plant Based Seafood Company, a new seafood analog product venture formed by the owners of the Van Cleve Seafood Co., has nabbed significant pre-seed funding and purchased a new production facility to grow distribution of its Mind Blown brand. Figure 24: United States: Plant-based Seafood Market Forecast: Sales Value (in Million US$), 2021-2026
According to Simon, whether it’s labeling plant-based seafood alternatives or knowing how to promote them competitively, much of the segment remains unchartered territory. 8.4.2.2 Market Forecast
Education & Advocacy. Figure 42: China: Plant-based Seafood Market Forecast: Sales Value (in Million US$), 2021-2026
13.3.4.1 Company Overview
( UK: +44-702-409-7331 )
13.3.11.2 Product Portfolio
8.3.4.1 Market Trends
Figure 10: Global: Plant-based Seafood (Prawn & Shrimp Products) Market Forecast: Sales Value (in Million US$), 2021-2026
8.2.3 Netherlands
13.3.3 Bonsan
“I think that we [as an industry] have to be aware that this is going on. Figure 22: North America: Plant-based Seafood Market Forecast: Sales Value (in Million US$), 2021-2026
How has the global plant-based seafood market performed so far and how will it perform in the coming years? // ]]>//