Europe is Expected to Hold the Largest Market Share in the Global Plant-Based Seafood Market During the Forecast Period
The
growing veganism trend and environmental and animal protection awareness drive
the growth of the plant-based seafood market during the forecast period.
According to TechSci
Research report, “Plant-Based Seafood Market– Global Industry Size,
Share, Trends, Competition, Opportunity, and Forecast, 2017-2027F” The global plant-based seafood market is
expected to grow during the forecast period. The rise in popularity of veganism
is one of the main factors anticipated to drive the Plant-based Seafood Market during
the forecast period globally. Additionally, it is expected that growing
environmental and animal protection concerns will fuel the market for
plant-based seafood. Moreover, the need for plant-based seafood is expected to
grow due to the rising demand for such products and the increased prevalence of
chronic gastrointestinal disorders brought about by the presence of mercury and
other toxic pollutants in seafood. In addition, numerous government
organizations are launching numerous campaigns to encourage the consumption of
seafood made from plants in an effort to lessen the damaging effects of fishing
equipment on aquatic ecosystems. The demand for plant-based seafood is also
being driven by the growing consumer awareness of the overuse of natural
resources to supply the world's demand for seafood products.
Browse over XX market
data Figures spread through XX Pages and an in-depth TOC on the " Global Plant-Based Seafood Market"
The plant-based seafood
market is segmented based on product type, source, distribution channel,
region, and competitive landscape.
Based on product type, the
global plant-based seafood market is segmented into plant-based fish products,
prawn and shrimp products, and plant-based crab products. Among these,
plant-based fish products are expected to hold the largest market share during
the forecast period as consumers of all ages highly favor these products
because they are free of allergens, completely vegan, without any side effects,
and safe for those who are lactose intolerant.
On the basis of source, the
global plant-based seafood market is segmented into soy, yeast, seaweed, and
others. Among these, the soy segment is expected to hold the largest market
share during the forecast period. Soy is naturally free of cholesterol and low
in saturated fat. It is highly sought after by people of all ages, including
the elderly and those with cardiovascular diseases.
On the basis of distribution
channel, the global plant-based seafood market is segmented into departmental
stores, supermarkets/hypermarkets, and online stores. Among these, the online
segment is expected to be the fastest growing segment in the market during the
forecast period. The online channel has emerged due to the expansion of its
consumer base and it is a significant source of income for many businesses. It
is also expected that the online sales market will grow due to the rapid
development of e-commerce companies and the rise in mobile users in developing
countries.
Based on region, the global
plant-based seafood market is segmented into North America, Europe,
Asia-Pacific, Middle East & Africa, and South America. Among these regions,
Europe is expected to dominate the plant-based seafood market during the
forecast period due to launching the new products back to back in the region..
The availability of plant-based fish products on the menus of numerous
well-known restaurant chains is also expected to contribute toward the growth
of the regional market for plant-based seafood throughout the forecast period.
The demand for plant-based seafood is expected to expand significantly in East
Asia owing to the rise in plant-based fish products. Additionally, it is expected
that growing environmental concerns will fuel the expansion of the region's
market for plant-based seafood.
Key market players operating
in the plant-based seafood market include:
- Beyond
Meat, Inc.
- Impossible
Foods, Inc.
- Upside
Foods, Inc.
- Aspire
Food Group
- Ingredion
Incorporated
- Gushen
Biological Technology Group Co., Ltd.
- Glanbia
plc
- Tyson
Foods, Inc.
- Kellogg
Co.
- AGRANA
Beteiligungs-AG
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“The growing veganism trend is the main
factor driving the global plant-based seafood market. People are replacing
seafood in their diets with plant-based alternatives due to growing concerns
about protecting aquatic animals. In addition, the rising incidence of chronic
gastrointestinal disorders brought on by the contamination of seafood with
toxic pollutants and mercury is pushing people to switch to vegan options. Moreover,
the preference for frozen, canned, and ready-to-eat foods is growing owing to
rapid urbanization, busy lifestyles, and rising disposable incomes among the
general public, which is driving the demand for plant-based seafood globally.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“Plant-based
Sea Food Market, Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Product Type (Plant-Based
Fish Products, Plant-Based Prawn and Shrimp Products, and Plant-Based Crab
Products), By Source (Soy, Yeast, Seaweed, and Others), By Distribution Channel
(Departmental Stores, Supermarkets/Hypermarkets, Convenience Stores, Online,
Others), By Region, By Company, has
evaluated the future growth potential of plant-based seafood market globally and provides statistics and information on market structure, size, share,
and future growth. The report provides cutting-edge market intelligence and helps
decision-makers to make sound investment decisions. Besides, the report also
identifies the emerging trends along with essential drivers, challenges, and
opportunities present in the market of the plant-based seafood market.
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