Plant-Based Shrimp Market was valued at USD 1.2 Billion in 2022 and is projected to reach USD 3.6 Billion by 2030, growing at a CAGR of 15.4% from 2024 to 2030.
The Plant-Based Shrimp Market reached a size of approximately USD 150 million in 2022, reflecting a significant growth trajectory in the emerging alternative protein sector. With a compound annual growth rate (CAGR) of 22.5% projected from 2023 to 2030, this market is poised for substantial expansion as consumer preferences shift towards sustainable and health-conscious food options. The increasing awareness of the environmental impact of traditional seafood production and the rising demand for plant-based alternatives are key drivers contributing to this growth. Innovations in food technology and improved taste and texture of plant-based shrimp products are expected to further fuel market development.
The market offers numerous opportunities for expansion, particularly in regions with rising consumer interest in plant-based diets. North America and Europe are leading markets, with a growing trend towards veganism and eco-friendly food choices. Emerging markets in Asia-Pacific are also showing considerable potential due to increasing urbanization and changing dietary habits. Investment in research and development to enhance product offerings and expand distribution channels will be crucial for capitalizing on these opportunities. Additionally, partnerships with foodservice providers and retailers are expected to accelerate market penetration and adoption rates across various consumer segments.
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Beyond Meat
Inc.
Gathered Foods Corp.
Maple Leaf Foods
Inc.
Finless Foods
Ocean Hunger Foods
The Vegetarian Butche
The Kraft Heinz Co.
Moving Mountains Foods
Monde Nissin Corp.
Tyson Foods
Inc.
Impossible Foods Inc.
Van Cleve Seafood
Good Catch
The Tofurky Co. Inc.
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Plant-Based Shrimp Market
Food
Household
Based on Types the Market is categorized into Below types that held the largest Plant-Based Shrimp market share In 2023.
Seaweed
Legume Protein
Soy Protein
Pea Protein
Other
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Plant-Based Shrimp Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Plant-Based Shrimp Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Plant-Based Shrimp Market, By Type
6. Global Plant-Based Shrimp Market, By Application
7. Global Plant-Based Shrimp Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Plant-Based Shrimp Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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