According to IMARC Group’s latest report, titled “Europe Plant-based Seafood Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the market is expected to exhibit a CAGR of XX% during 2022-2027. Plant-based seafood refers to the vegan alternative of seafood with similar texture, color and flavor. These products are made with natural ingredients, including pea starch, sea salt, seaweed powder, konjac powder, potato starch, organic agave nectar, and alginate. Plant-based seafood items offer various environmental benefits, such as recovering ocean ecosystems, reducing manufacturing-related greenhouse (GHG) emissions, and relieving pressures on the depleting ocean ecosystems and fisheries.
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The rising awareness amongst consumers regarding animal cruelty and degradation of the environment is primarily fueling the plant-based seafood market in the European region. The rising adoption of vegetarian and vegan diets is also contributing to the escalating consumption of plant-based seafood products. Moreover, the European Union (EU) has been taking initiatives to promote the shift across the region toward plant-based diets, which is creating a positive outlook for the market. For instance, in 2020, the EU published the Farm to Fork Strategy (FFS) under the European Green New Deal, which aims to make the region carbon neutral by 2050. Looking forward, the Europe plant-based seafood market is expected to continue its robust growth during the forecast period (2022-2027).
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Market Segmentation:
Breakup by Product Type:
- Fish Products
- Prawn & Shrimp Products
- Crab Products
- Supermarkets and Hypermarkets
- Convenience Stores
- Online
- Others
- Germany
- France
- United Kingdom
- Italy
- Spain
- Others
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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