About Plant based Seafood
Plant based Seafood is made from a mixture of different plant-derived proteins or pea protein. Seaweed is the primary ingredient that contributes authenticity to the flavor in plant-based seafood. It is an alternative to traditional seafood that has been gaining popularity recently. This is a more reliable and sustainable source of seafood without sacrificing flavor. It is a great alternative developed for people who have allergies to the ocean- or farm-sourced seafood.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The global Plant based Seafood market is fragmented with the presence of several manufacturers at the global and regional levels. The level of competition among the companies in the Plant based Seafood market is intense and manufacturers focus on developing new plant based seafood products for the consumers. Companies are investing in the enhancement and launch of a variety of plant based seafood in the market. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Good Catch (United States), Sophie's Kitchen (United States), New Wave Foods (United States), Ocean Hugger Foods (United States), Gathered Foods (United States), Hooked Foods (Sweden), Loma Linda (United States), Quorn (United Kingdom), Gardein (Canada) and Tofuna Fysh (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Ocean's Halo (United States), Seamore (United States), Plant Based Seafood Co. (United States), Akua (United States), Vegan Zeastar (Netherlands), Fishless (United States), Sophie's Bio-Bite (Singapore), LoveSeitan (United Kingdom), Thai Union (Thailand), Lightlife (United States), BlueNalu (United States), Atlantic Natural Foods (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Plant based Seafood market by Type (Crab Cakes, Fish Fillets, Shrimp, Tuna, Caviar, Scallops and Others), Application (Hotel, Restaurants, Cafes, Household and Other) and Region.
On the basis of geography, the market of Plant based Seafood has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Sales Channel, the sub-segment i.e. Supermarkets will boost the Plant based Seafood market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Source Type , the sub-segment i.e. Soy will boost the Plant based Seafood market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Process Type, the sub-segment i.e. Grinding will boost the Plant based Seafood market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Awareness about Sea Food Consumption and its Negative Impact on Environmental
Market Growth Drivers:
Growing Need of Alternatives for Traditional Seafood and Increasing Demand for Plant Based Diet or Vegan Products in The Countries for Health Benefits
Challenges:
Difficulty to Achieve Combination of Taste, Texture.
Restraints:
Expensive than Original Seafood
Opportunities:
Growing Demand for Plant Based or Vegan seafood Among The People Creating and Enormous Opportunities for Key Manufacture and Distributes
On Jan. 6, 2022, Good Catch plant-based seafood, announced the launch of its new first-to-market US-made Plant-Based Salmon Burgers. With 30% of seafood consumers purchasing salmon monthly, Good Catch was determined to create an innovative alternative for the most consumed fish in the US. This new product propels the plant-based seafood industry forward, demonstrating dedication to expanding the Good Catch line-up of culinary-driven plant-based seafood options. With the addition of Plant-Based Salmon Burgers, Good Catch provides a new flavor profile for an even larger audience of vegans to flexitarians to enjoy.
“As per World Sustainability Organization standard, which is applicable for these products, is based on SAFA (Sustainability Assessment of Food and Agriculture systems) guidelines set by UN-FAO. Intensive agriculture practices contribute to the loss of agricultural and natural biodiversity, degrading ecosystems and causing a reduction in animal and plant species. Such activities are also resulting in increased greenhouse gas emissions.”
Key Target Audience
Plant based Seafood Manufacturers, Plant based Seafood International Traders, Plant based Seafood Distributors and Suppliers, Research and Development Institutes, Potential Investors, Regulatory Bodies, Upstream and Downstream Buyers and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.