Press release
Alternative Seafood Market Know the Scope and Trends
The Global Alternative Seafood Market is expected to grow with a CAGR of 38.9% during the forecast period of 2024-2031.
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The alternative seafood market is a rapidly developing segment focused on providing sustainable and innovative substitutes for traditional seafood products. Growth in this market is driven by rising global seafood consumption, increased health awareness among consumers, and mounting environmental concerns related to overfishing and resource depletion. As a result, alternative seafood solutions offer environmentally responsible options that support long-term sustainability.
This market includes multiple product categories, such as plant-based seafood formulated from ingredients including legumes, soy, seaweed, and mycoproteins to replicate the taste and texture of conventional seafood; fermentation-based seafood produced through microbial processes using algae or fungi to create nutrient-rich protein alternatives; and cell-cultured seafood, which is developed by cultivating seafood directly from animal cells, thereby reducing reliance on fishing and offering an ethical and sustainable production approach.
List of Prominent Players in the Alternative Seafood Market:
• Bluu Seafood
• New Wave Foods
• Wildtype
• Finless Foods
• Shiok Meats
• Avant Meats
• Ocean Hugger Foods
Alternative Seafood Market Report Scope:
Market Dynamics:
Drivers-
Overfishing and bycatch continue to present major sustainability concerns for the global fishing industry, threatening marine ecosystems and long-term ocean health. Alternative seafood offers a sustainable solution by reducing environmental impact and easing pressure on wild fish stocks, while also delivering key nutritional benefits such as omega-3 fatty acids without the risk of contaminants, including mercury, commonly associated with conventional seafood.
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Challenges:
The alternative seafood market faces several obstacles that limit widespread adoption. High production costs remain a primary challenge, preventing these products from achieving cost competitiveness with traditional seafood. In addition, accurately replicating the taste and texture of conventional seafood presents significant technical and scientific complexities, requiring continued innovation and research. Consumer hesitation related to perceptions of freshness, authenticity, and natural composition-particularly in regions with strong culinary seafood traditions-further constrains market growth.
Regional Trends:
The Asia-Pacific region is expected to lead the global alternative seafood market, supported by increased investment, technological progress, and robust research capabilities in countries such as Singapore, Japan, and Hong Kong. A skilled talent base, favorable regulatory frameworks, and government incentives are accelerating product development and commercialization. While plant-based seafood has already established market traction, fermentation-derived alternatives are expanding rapidly in China, and cell-cultured seafood is nearing commercial viability. With rising consumer awareness and growing participation from major industry players, Asia-Pacific is well positioned to become a global hub for sustainable alternative seafood innovation.
Recent Developments:
• In Jan 2023, San Francisco-based Wildtype, which raised an impressive $100 million in Series B funding last year with backing from investors like Leonardo DiCaprio, plans to launch its cultivated sushi-grade salmon in restaurants later this year.
• In March 2024, UMAMI Bioworks acquired cultivated meat and seafood company Shiok Meats, gaining control over Shiok Meats' research on developing cell-based crustacean products, including lobster and shrimp.
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Segmentation of Alternative Seafood Market-
By Product Type:
• Plant-Based Seafood
• Cell-Cultured Seafood
• Fermentation-Derived Seafood
By Distribution Channel:
• Supermarkets & Hypermarkets
• Online Retail
• Specialty Stores
• Foodservice Providers
By Species:
• Tuna
• Salmon
• Shrimp
• Crab
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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