“Global Plant-based Seafood Market to reach a market value of USD 1.07 Billion by 2032 growing at a CAGR of 8.2%”
The Global Plant-based Seafood Market size is expected to reach $1.07 billion by 2032, rising at a market growth of 8.2% CAGR during the forecast period.
The North America segment recorded 36% revenue share in the market in 2024. This dominance is attributed to rising consumer awareness about sustainability and the environmental impact of traditional seafood harvesting. Increasing demand for healthy and ethical food alternatives and a strong presence of plant-based food innovators and brands have fuelled the market’s growth in the region.
As environmental concerns continue to take center stage globally, consumers are becoming increasingly aware of the detrimental effects of traditional seafood harvesting on marine ecosystems. Overfishing, unsustainable fishing practices, and habitat destruction have led to a growing shift in consumer behaviour towards more eco-friendly alternatives. Plant-based seafood, which offers the taste and texture of traditional seafood without the ecological footprint, has become a preferred choice for those looking to make more sustainable food choices. Thus, this factor drives the market as more consumers seek to make purchases that reflect their values, creating a growing demand for plant-based seafood products that support a healthier planet for future generations.
Additionally, With the rising popularity of veganism and flexitarianism, consumers increasingly seek plant-based alternatives catering to their health-conscious lifestyles. Many individuals make dietary choices that prioritize plant-based foods for various reasons, including improved health outcomes, weight management, and lower risks of chronic diseases. Plant-based seafood offers a compelling option for those looking to reduce their consumption of animal-based products while still enjoying the familiar flavours and textures of seafood. Hence, this reflects consumers’ growing preference for mindful food choices that promote a healthy lifestyle and lower their carbon footprint, fuelling the growth of the market.
However, One of the significant barriers to the widespread adoption of plant-based seafood is its high price point compared to conventional seafood products. Traditional seafood is often more affordable due to established supply chains, mass production, and the long history of the fishing industry, which benefits from economies of scale. In contrast, plant-based seafood products are still relatively new and less ubiquitous, making them more expensive. Thus, the high cost of plant-based seafood will continue to restrain the market’s growth.
Based on type, the market is characterized into fish, prawn & shrimp, crab, and others. The prawn & shrimp segment procured 28% revenue share in the market in 2024. Plant-based alternatives to prawns and shrimp are gaining traction, especially in markets where seafood is a dietary staple. Consumers seeking allergen-free, sustainable, and cruelty-free options increasingly use these alternatives.
On the basis of source, the market is classified into soy, wheat, pea, and others. The wheat segment recorded 20% revenue share in the market in 2024. Wheat-based proteins, particularly seitan, are favoured for their chewy texture, closely resembling seafood. This quality makes wheat an effective base for products like plant-based shrimp and fish fillets.
By distribution channel, the market is divided into supermarkets & hypermarkets, convenience stores, online, and others. The convenience stores segment garnered 34% revenue share in the market in 2024. The rising demand for quick and accessible food options, particularly in urban and semi-urban areas, has driven growth in this segment. Convenience stores cater to on-the-go consumers who seek healthy, ready-to-cook, or ready-to-eat plant-based seafood products.
Free Valuable Insights: Global Plant-based Seafood Market size to reach USD 1.07 Billion by 2032
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment witnessed 28% revenue share in the market in 2024. Growing concerns about overfishing and marine pollution have prompted consumers in countries such as Japan, China, and Australia to explore plant-based alternatives. Additionally, the cultural familiarity with seafood in many Asian countries facilitates a smoother transition to plant-based versions of traditional dishes.
| Report Attribute | Details |
|---|---|
| Market size value in 2024 | USD 581.39 Million |
| Market size forecast in 2032 | USD 1.07 Billion |
| Base Year | 2024 |
| Historical Period | 2021 to 2023 |
| Forecast Period | 2025 to 2032 |
| Revenue Growth Rate | CAGR of 8.2% from 2025 to 2032 |
| Number of Pages | 255 |
| Number of Tables | 380 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Source, Distribution Channel, Region |
| Country scope |
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| Companies Included | Beyond Meat, Inc., Impossible Foods Inc., Konscious Foods Canada Inc., Glanbia PLC, Ingredion, Incorporated, Tyson Foods, Inc., PURIS, Royal Avebe, Marlow Foods Limited (Quorn Foods), and Nestle S.A. |
By Type
By Source
By Distribution Channel
By Geography
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