Plant-Based Seafood Alternatives Market

Global Plant-based Seafood Alternatives Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Commercial overfishing and climate change are putting global seafood supply at risk and destroyed the marine ecosystem which boosts the demand for plant-based seafood alternatives and fosters the market growth.

Plant-based Seafood Alternatives Market is valued at USD 428.99 Million in 2021 and expected to reach USD 825.93 Million by 2028 with the CAGR of 9.81% over the forecast period.

Scope-

The plant-based seafood alternative includes the ingredients involved in food from plants which is pure vegetarian and does not contain any type of non-vegetarian material. Plant-based foods primarily include plants such as fruits and vegetables and also seed, nuts, oils, whole grain, beans and many more. The plant-based seafood have test, texture and nutritious value like seafood but it is made of plants. The sources of plant-based seafood are wheat, pea oats, beans and many more. Now plant-based sea food is a next vegan trend and companies are responding with new product which test like seafood. These products are mainly based on natural ingredients such as sea salt, seaweed powder potato starch, pea starch and many more such ingredient. The Mediterranean diet uses the plant-based foods includes fish, poultry, eggs yogurt and cheese and many other items. The Mediterranean diet reduces the risk of heart disease, diabetes, metabolic syndrome, and certain cancers and decreases the risk of frailty and many more. Plant-based diet offer necessary protein, fats, vitamins, carbohydrate and minerals and have high fiber and phytonutrients.

The global plant-based seafood alternatives market is segmented on the basis of type, application, sources, form and region & country level. Based on type, the global plant-based seafood alternatives market is classified as textured protein, isolation, concentrates and others. On the basis of application, the global market is classified as food and feed. Based on source, the global plant based sea food alternative market is classified as wheat, soy, pea, potato, canola, oats, and rice and other. On the basis of form, the market is classified as liquid and dry.

The regions covered in global plant-based seafood alternatives market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, global plant-based seafood alternatives   market sub divided in U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.

Key Players-

Global Plant-based seafood alternatives market report covers prominent players like -

• Amy’s Kitchen
• Beyond Meat
• The Greenlans LLC
• Sotexpro
• Ingredion
• Tofurky
• Quorn Foods
• Morningstar Farms
• Gold&Green Foods
• Kerry Group
• Cosucra Group
• handong Jianyuan Group
• AGT Food & Ingredients
• The Greenlans
• Emsland Group
• Revo Foods
• Jack & Bry
• Plantish
• Aqua Cultured Foods
• Sea & Believe
• Others

Segmentation–

By Type:

• Textured Protein
• Isolates
• concentrates

By Application:

• Food
• Feed
• Others

By Sources:

• Wheat
• Soy
• Pea
• Potato
• Canola
• Oats
• Others

By Form:

• Liquid
• Dry

By Regional & Country Analysis:

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Market Dynamics–

The key factor driving the growth of global plant-based seafood alternative market is industrial fishery using large commercial machinery to shift through the ocean floor causing numerous sea animals, including dolphins, whales, turtle and many more get trapped and killed, which results in environmental hazards occur on earth oceans. Overfishing is also becoming catastrophic which decreases the species of rare sea animals and people now a days are becoming more aware about their diet and most of the population are becoming vegan which increases the growth of plant-based seafood market. According to United Nation; nearly 90% of world’s marine fish stock are exploited or depleted. Plant based seafood market accounts 9.5 million of total plant based meat market.

However lack of knowledge in underdeveloped and undeveloped region may hamper the growth of plant-based seafood market. In spite of that, increase in new innovation in test and growing awareness regarding depletion of sea animals may create more opportunities for the further growth of the global plant-based seafood market.

Regional Analysis–

North America is expected to dominate the global plant-based seafood market owing to the rising awareness of customers towards environment and their health increases. The European is also expected to witness a significant growth in the global plant-based seafood market. The United Kingdom opened its first vegan and chip shop in 2018 with vegan menu in all over the London and now the vegan item is contributing about 20% of their total revenue to this market. The vegan menu continues to expand from prawn to calamari strips and to lobster roll.

Asia Pacific is also expected to witness a significant growth in the global plant-based seafood alternative market. The Singapore Institute of Food and Biotechnology Innovation began collaborating in August 2019 on fermenting microalgae to produce a protein substitute.

News-

Nestle Entered in Plant Based Seafood Alternative Market

August 20^th, 2020; Nestle announced the launch of a plant-based alternative to tuna, its first move into growing market for plant-based seafood alternatives. The plant-based tuna alternative is used in a wide range of dishes such as salads, sandwiches and pizzas. It has flaky texture and rich flavor that makes tuna a favorite in many meals. It is made from a combination of only six plant-based ingredients; it is rich in nutritious pea protein, one of the most environmentally friendly sources of plant-based protein. It contains all the essential amino acids and is free of artificial coloring or preservatives.

Report Analysis	Details
Historical data	2015 - 2020
Forecast Period	2022 - 2028
Market Size in 2021:	USD 428.99 Million
Base year considered	2020
Forecast Period CAGR %:	9.81%
Market Size Expected in 2028:	USD 825.93 Million
Tables, Charts & Figures:	175
Pages	300
Key Players/Companies	Amy’s Kitchen, Beyond Meat, The Greenlans LLC, Sotexpro, Ingredion, Tofurky,  Quorn Foods, Morningstar Farms, Gold&Green Foods,  Kerry Group, Cosucra Group, handong  Jianyuan Group,  AGT Food & Ingredients, The Greenlans, Emsland Group , Revo Foods, Jack & Bry, Plantish, Aqua Cultured Foods, Sea & Believe, others.
Segments Covered	By Type,  By Application, By Sources, By Form
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa