Global Plant-Based Tuna Market By Raw Material (Soy, Peas, Coconut Oil, Lentils, Grains, Others), By Distribution Channel (Online, Offline), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2031

Food that resembles meat products, but are made from plants are called plant-based meat products. These products include seafood and poultry-flavored meats. For example, plant-based chicken, plant-based beef, plant-based tune, etc. The raw materials that are used in producing these products are soybean, peas, coconut oil, grains, lentils, and other plant-derived ingredients that can potentially be used for manufacturing.

These products are widely being adopted as an alternative to support environmental causes. These products are rich in antioxidants, amino acids, and also have low-fat content. Plant-based fish products are being adopted widely, as the global numbers suggest that over 90% of marine stocks are depleted.

The global plant-based tuna market is segmented on the basis of – raw material, distribution channel, and region. Find the detailed segmentation below:

By Raw Material

• Soy
• Peas
• Coconut Oil
• Lentils
• Grains
• Others

Distribution Channel

• Online
• Offline

By Region

• North America
  • The US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Korea
  • Rest of the Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East and Africa
  • GCC
  • Israel
  • South Africa
  • Rest of the MEA

Market Dynamics–

Growing awareness levels concerning meat alternatives are expected to fuel market growth prospects for this global industry. Additionally, increasing seafood allergies among individuals have also resulted in the adoption of alternatives, which are expected to fuel the market growth for the plant-based tuna industry.  Unfortunately, the color and texture of products solely based on consumer preferences is a factor that is expected to hamper the market growth of plant-based tuna industry.

Additionally, it is difficult to mimic the exact product as per the taste of real tuna. However, the increase in R&D activities to develop products that can mimic the exact taste and provide more nutritional benefits are expected to create opportunities for industry players operating in this market by increasing their product offerings, thereby gaining a stronger foothold in this industry.

Furthermore, manufacturers/players can also increase their sales by adopting strategies preceding to an increase awareness levels concerning the benefits of plant-based products as well as environmental impacts caused due to consumption of conventional meat products, in turn creating more opportunities to secure a strong customer base in the process.

Competitive Landscape

Major players in this market are –

• Good Catch
• Ocean Hugger Foods
• Sophie’s Kitchen
• New Wave Foods
• Gardein
• Beyond Meat
• Prime Roots
• Atlantic Natural Foods
• Nestlé S.A
• Avant Meats
• others

Key Developments:

• In 2020, Finless Foods which specializes in cell-cultured seafood, announced that the company plans to launch plant-based tuna in 2022.
• Naturex, a specialist in plant-based ingredients announced that it is working on developing alternatives to cosmetic colors being used in plant-based products.

For the Plant-Based Tuna Market research study, the following years have been considered to estimate the market size: