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Plant-Based Fish Market Trends

Report ID: GMI5658
Published Date: May 2023
Report Format: PDF

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Plant-Based Fish Market Trends

Developments in food technology are enabling companies to create more realistic plant-based seafood products that mimic the texture, taste, and nutritional value of real fish. This has positively affected the market size. For instance, in August 2022, unMEAT, a plant-based protein brand, launched new fish-free tuna in the form of sunflower oil, water, and tuna hot & spicy through select supermarkets and online retail in the United States.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of plant-based fish was surpassed USD 800 million in 2022 and will grow at a 5.5% CAGR from 2023 to 2032, propelled by favorable regulations and guidelines for the use of plant-based protein.

The soy-based protein segment will witness over 5% CAGR during 2023 to 2032, as they help reduce cholesterol, have low saturated fat, and includes all eight essential amino acids.

The plant-based fish industry size from the convenience stores segment reached USD 312 million in 2022, owing to their accessibility, compactness, efficiency, and simplicity.

The Europe market was worth USD 176 million in 2022, as a result of shifting preference toward a vegan diet and growing concerns regarding animal cruelty in the region.