Plant-based Seafood Market Share, Size, Growth, Opportunity and Forecast 2021-2026

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Plant-based Seafood Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global plant-based seafood market grew at a CAGR of around 30% during 2017-2020. Plant-based seafood refers to a seafood-like vegan alternative with similar color, texture, appearance, and flavor. It is generally 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, etc. Plant-based seafood products are ecologically sustainable as they help in reducing the high consumption of seafood, thereby relieving pressures on the depleting fisheries across the globe.

The rising trend of veganism coupled with growing concerns towards the environment and animal protection are augmenting the demand for plant-based seafood products. Additionally, the high prevalence of chronic gastrointestinal disorders due to the presence of mercury and other toxic pollutants in seafood is also propelling the market growth on a global level. Furthermore, several government bodies are launching numerous initiatives for promoting the consumption of plant-based seafood products to reduce the adverse impact of fishing machinery on aquatic ecosystems. Additionally, the growing consumer awareness towards the over-exploitation of natural resources to meet the global consumption for seafood products is also propelling the need for plant-based seafood. Apart from this, the increasing penetration of frozen, canned, and ready-to-eat product variants for supporting hectic consumer lifestyles is further catalyzing the market growth. 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. Additionally, the changing consumer inclination from a non-vegetarian diet towards plant protein-sourced foods is also propelling the product demand. 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. Looking forward, IMARC Group expects the market to continue its strong growth during the next five years.

Key Market Segmentation:

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. Our report has categorized the market based on region, product type and distribution channel.

Breakup by Product Type:

Fish Products
Prawn & Shrimp Products
Crab Products

Breakup by Distribution Channel:

Supermarkets and Hypermarkets
Convenience Stores
Online
Others

Breakup by Region:

North America
- United States
- Canada
Europe
- United Kingdom
- Germany
- Netherlands
- France
- Others
Asia Pacific
- China
- Japan
- Singapore
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East & Africa
- South Africa
- UAE
- Others

Competitive Landscape:

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.

Key Questions Answered in This Report

How has the global plant-based seafood market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global plant-based seafood market?
What is the breakup of the market based on the region?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the distribution channel?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the market?
What is the structure of the global plant-based seafood market and who are the key players?
What is the degree of competition in the market?