The United States plant-based seafood market size reached US$ 16.0 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 77.6 Million by 2027, exhibiting a growth rate (CAGR) of 28.9% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Plant-based seafood refers to a vegan alternative similar to seafood in color, texture, appearance and flavor. It is generally made from a mixture of plant protein isolates, soy, starch, vegetable extracts, edible oils, and a wide range of seasonings. It is further processed with additives and coloring agents to provide the same texture as that of seafood products like fish, shrimp and crabs. Due to this, plant-based seafood is being served across various cafes, fast food chains, restaurants, supermarkets, and convenience stores in the United States.
The United States plant-based seafood market is primarily driven by the rising trend of veganism. The growing prevalence of chronic diseases, such as obesity and diabetes, is also propelling the growth of the market. With the increasing health-consciousness, consumers are shifting toward dietary products with a low calorie and high protein content, such as flexitarian and vegetarian dishes. Along with this, people suffering from shellfish allergy are opting for a healthier alternative to fulfill the requirements of essential nutrients. As a result, there has been an increased demand for plant-based seafood across the region. With the growing concerns toward the welfare and protection of the animals, individuals are opting for plant protein-sourced foods. Moreover, rapid urbanization, high living standards and rising per capita expenditure of consumers on premium-quality food items represent some of the other factors catalyzing the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the United States plant-based seafood market report, along with forecasts at the country and regional level from 2022-2027. Our report has categorized the market based on 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
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis
||Product Type, Distribution Channel, Region
||Northeast, Midwest, South, West
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Key Questions Answered in This Report:
- How has the United States 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 United States plant-based seafood market?
- What are the key regional markets?
- 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 industry?
- What is the structure of the United States plant-based seafood market and who are the key players?
- What is the degree of competition in the industry?