The Latin America, Middle East and Africa Plant-based Seafood Market would witness market growth of 10.2% CAGR during the forecast period (2025-2032).
The Brazil market dominated the LAMEA Plant-based Seafood Market by Country in 2024, and would continue to be a dominant market till 2032; thereby, achieving a market value of $17.4 million by 2032. The Argentina market is showcasing a CAGR of 10.8% during (2025 - 2032). Additionally, The UAE market would register a CAGR of 8.6% during (2025 - 2032).
Younger generations, particularly millennials and Gen Z, are more likely to embrace plant-based alternatives due to their strong interest in sustainability, ethical consumption, and health. These groups are at the forefront of the plant-based food revolution, and their preferences are shaping the future of the market.
The growing availability of these seafood products in mainstream grocery stores and restaurants is another key factor driving adoption. As these products become more accessible and convenient, consumers are more likely to try them. Additionally, the availability of this seafood in e-commerce channels makes it easier for consumers to purchase these products, further boosting adoption rates.
The global shift toward healthier and more sustainable food choices is gaining traction in emerging and dynamic markets like Nigeria, the UAE, and Brazil. These countries are witnessing growth in key economic indicators and food service sectors, signalling a broader openness to innovative food products, including plant-based seafood. With rising disposable incomes, expanding foodservice industries, and increasing consumer awareness about nutrition and sustainability, these nations are becoming fertile grounds for expanding the market. In 2022, Brazil’s foodservice industry revenues reached US$106 billion, a 10% increase from the previous year. This robust growth highlights the country’s booming economy and increased consumer spending on out-of-home dining experiences. As more restaurants and food chains explore plant-based options to meet evolving dietary preferences and cater to flexitarian consumers, there’s no room to introduce these seafood products. The UAE’s restaurant and institutional (HRI) sector saw a 17% increase in value from 2020 to 2021, reaching $12.3 billion. As one of the largest food service markets in the Gulf region, the UAE continues to evolve as a culinary hub that embraces global food trends. The demand for gourmet, healthy, and environmentally responsible cuisine is rising, particularly among the urban, health-conscious population and a thriving expatriate community. Thus, the strong growth of the food service industries in Brazil and the UAE, combined with improving disposable incomes in Nigeria, is setting the stage for the expansion of the market in these diverse regions.
Free Valuable Insights: The Worldwide Plant-based Seafood Market is Projected to reach USD 1.07 Billion by 2032, at a CAGR of 8.2%
Based on Type, the market is segmented into Fish, Prawn & Shrimp, Crab, and Other Type. Based on Source, the market is segmented into Soy, Pea, Wheat, and Other Source. Based on Distribution Channel, the market is segmented into Supermarkets & Hypermarkets, Convenience Stores, Online, and Other Distribution Channel. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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