Global Vegan Fish Market Size, Share, Trends, Industry Growth by Product Type (Burger Patty, Fillets, Crumbles & Grounds), by Source (Soy-based Protein, Wheat-based Protein), by Distribution Channel, by Region, and Forecast to 2030

Report ID: RC156056 | Report Format: PDF + Excel | Starting Price: 2520/- USD | Last Updated: June 30th, 2023

The global vegan fish market size was valued at around USD 800 million in 2022 and anticipated to register a considerable growth rate (CAGR) of around 6% during the forecast period from 2023 to 2030. On the basis of region, North America is estimated to hold the largest market share in the benchmark year owing to the rising inclination towards plant-based seafood among consumers.

Vegan fish is also known as plant-based fish. The increasing consumer preference towards to vegan food products owing to their health benefits is a primary factor driving the industry growth. Furthermore, the Growing need for substitutes for copulated fish feed is the other key factor fueling the demand for the vegan fish food industry globally. In addition, increasing concern regarding the dependence of aquaculture on seafood consumption and fish lubricants and oil has led to an increased focus on plant-based commodities, which is anticipated to support the expansion of the plant-based fish feed industry.

Furthermore, the rising environmental concerns, increasing investment in the plant-based food industry by manufacturers, and the new products launched by various market players are anticipated to propel the industry growth at a significant pace over the forecast period. Moreover, the increasing demand for healthy food products among consumers and the growing awareness regarding vegan food products are projected to propel the global vegan fish market over the forecast period.

Market Snapshot:

Benchmark Year 2022
Market Size ~ USD 800 Million in 2022
Market Growth (CAGR) ~ 6% (2023-2030)
Largest Market Share North America
Analysis Period 2020-2030
Market Players Gardein by Conagra Brands, MorningStar Farms, Archer Daniels Midland Company, Symrise, and Roquette Frères S.A.

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Market Drivers:

Increasing Demand for Plant-Based Alternatives: The growing demand for plant-based food products, driven by health, environmental, and ethical concerns, is a significant driving factor for the vegan fish market. Consumers are increasingly adopting plant-based diets and seeking alternatives to traditional seafood products. Vegan fish provides a sustainable and ethical option for individuals looking to reduce their consumption of fish and other seafood while still enjoying the taste and texture of fish-based dishes.

Environmental Sustainability: Concerns about overfishing, marine ecosystem depletion, and the environmental impact of commercial fishing are driving the demand for vegan fish. Plant-based fish alternatives are more sustainable as they do not contribute to the depletion of marine resources, bycatch, or habitat destruction associated with fishing. The growing awareness of environmental sustainability and the desire to make eco-friendly food choices support the growth of the vegan fish market.

Health and Wellness Consciousness: The increasing focus on health and wellness is a driving factor for the vegan fish market. Plant-based fish alternatives are often perceived as healthier options compared to traditional fish, which can contain pollutants such as mercury and heavy metals. Vegan fish products are typically lower in saturated fat, cholesterol, and calories, while being rich in plant-based proteins and nutrients. The growing interest in nutritious and balanced diets contributes to the demand for vegan fish.

Advancements in Plant-Based Food Technology: Technological advancements in plant-based food production have led to the development of innovative vegan fish alternatives. Manufacturers are using ingredients such as algae, seaweed, soy protein, and other plant-based sources to create products that closely resemble the taste, texture, and appearance of fish. The ability to mimic the sensory attributes of fish-based products has expanded the market for vegan fish, attracting consumers who desire a plant-based alternative without compromising on flavor and experience.

Changing Consumer Preferences and Tastes: Consumer preferences and tastes are evolving, with an increasing number of people exploring plant-based diets and seeking new culinary experiences. Vegan fish provides an option for individuals who follow vegan or vegetarian diets, those with seafood allergies or sensitivities, and those looking to reduce their consumption of animal products. The availability of tasty and high-quality vegan fish products appeals to a broader consumer base, contributing to market growth.

Retail and Foodservice Partnerships: Partnerships between vegan food manufacturers and retail chains, restaurants, and foodservice providers are driving the availability and accessibility of vegan fish products. Increased distribution channels and wider availability of vegan fish in grocery stores, seafood counters, and restaurants support market growth. Collaborations and strategic alliances between vegan food companies and established players in the food industry help expand market reach and raise consumer awareness.

Marketing and Promotional Efforts: Effective marketing and promotional efforts by vegan food companies have played a crucial role in driving the demand for vegan fish. Through advertising campaigns, social media presence, and product endorsements, manufacturers have successfully raised awareness about the benefits of plant-based eating and positioned vegan fish as a desirable and sustainable food choice. Marketing strategies that highlight the health, environmental, and ethical aspects of vegan fish resonate with consumers and stimulate market growth.

Global Increase in Vegan and Vegetarian Populations: The global rise in the number of vegans, vegetarians, and individuals adopting flexitarian diets is fueling the demand for vegan food products, including vegan fish. As more people choose to reduce or eliminate their consumption of animal products, the demand for tasty and convenient plant-based alternatives increases. The vegan fish market benefits from this growing consumer base seeking sustainable and ethical seafood alternatives.

Market Insights:

By product type, the burger patty segment dominated the global vegan fish market in the benchmark year

The global vegan fish market is bifurcated into product type, source, distribution channel, and geography. On the basis of product type, the market is further segmented into a burger patty, fillets, and crumbles & grounds. The burger patty segment holds the largest revenue share of the global market in 2022 and expected to maintain its dominance over the forecast period. The strong demand for the burger patty among consumers is one of the prominent factor driving the segment growth. Burger patties are popular for their wide range of applications, ranging from healthy salads to cheeseburger pasta. Due to its versatility, vegan fish burger patties have emerged as a major product in the market.

By distribution channel, the hypermarkets/supermarkets segment is expected to dominate the global industry by 2030

On the basis of distribution channels, the market is segmented into Supermarkets/hypermarkets, Convenience Stores, Specialty Food Stores, and Others. The hypermarket/supermarket segment dominated the global vegan fish market in the benchmark year and is expected to grow at the same trend over the forecast period. The growing popularity of hypermarkets/supermarkets among consumers is one of the prominent factor driving the segment growth. Furthermore, the growing sale of vegan fish products in hypermarkets is further anticipated to fuel the segment growth.

Vegan Fish Market Size

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The global vegan fish market report explores the critical analysis of the industry using key parameters. The report covers investment strategies, the need for investment in the industry, and several benefits for investors. Significantly, this report sets out major changes in the global technical regulations for the market, as well as how economic and non-economic constraints are helping the market to grow. Furthermore, the report analyzes the historic and forecasted market size at the global, regional, and country-level. The report also provides a comprehensive analysis of key investment proposals, competitor positions, porter’s five force analysis, SWOT analysis, pestel analysis, value chain analysis, etc.

The vegan fish comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2023 to 2030. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

Global vegan fish market size and forecast were obtained by using “Bottom-up” and “Top-down” approaches. Extensive secondary research was conducted to understand the market insights and trends, followed by primary interviews to further validate the information sourced. The report provides both, qualitative and quantitative analyses of the market, the competitive landscape, and the preferred development strategies of key players which help to formulate competitive market strategies and make informed decisions.

Historical & Forecast Period

  • 2020-21 – Historical Year
  • 2022 – Base Year
  • 2023-2030 – Forecast Period

Market Segmentation:

By Product Type:

  • Burger Patty
  • Fillets
  • Crumbles & Grounds

By Source:

  • Soy-based Protein
  • Wheat-based Protein

By Distribution Channel:

  • Supermarkets/Hypermarket
  • Convenience Stores
  • Specialty Food Stores
  • Others

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Geographic Coverage:

Geographically, the vegan fish market report comprises dedicated sections centering on the regional market revenue and trends. The vegan fish market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The vegan fish market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Vegan fish market estimates have also been provided for the historical years 2020 & 2021 along with forecasts for the period from 2023 – 2030.

Competitive Assessment:

Some of the prominent market players operating in the global vegan fish market are Gardein by Conagra Brands, MorningStar Farms, Archer Daniels Midland Company, Symrise, and Roquette Frères S.A. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

  • Gardein by Conagra Brands
  • MorningStar Farms
  • Archer Daniels Midland Company
  • Symrise
  • Roquette Frères S.A.
  • Kellogg’s
  • Tyson Foods, Inc.
  • Sotexpro SA
  • Crown Soya Protein Group
  • Puris Proteins, LLC
  • Ingredion GmbH

Key Questions Answered by Vegan Fish Market Report

  • Global vegan fish market forecasts from 2023-2030
  • Regional market forecasts from 2023-2030 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
  • Country-level forecasts from 2023-2030 covering 15 major countries from the regions as mentioned above
  • Vegan fish submarket forecasts from 2023-2030 covering the market by product type, source, distribution channel, and geography
  • Various industry models such as SWOT analysis, Value Chain Analysis about the market
  • Analysis of the key factors driving and restraining the growth of the global, regional, and country-level vegan fish markets from 2023-2030
  • Competitive Landscape and market positioning of top 10 players operating in the market
Table of Content:

1. Preface


1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.4. Assumptions

 

2. Executive Summary


2.1. Global Vegan Fish Market Portraiture
2.2. Global Vegan Fish Market, by Product Type, 2022 (USD Mn)
2.3. Global Vegan Fish Market, by Source, 2022 (USD Mn)
2.4. Global Vegan Fish Market, by Distribution Channel, 2022 (USD Mn)
2.5. Global Vegan Fish Market, by Geography, 2022 (USD Mn)

 

3. Global Vegan Fish Market Analysis


3.1. Vegan Fish Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Opportunities
3.4. Attractive Investment Proposition
3.5. Competitive Analysis
3.6. Porter’s Five Force Analysis
3.6.1. Bargaining Power of Suppliers
3.6.2. Bargaining Power of Buyers
3.6.3. Threat of New Entrants
3.6.4. Threat of Substitutes
3.6.5. Degree of Competition
3.7. PESTLE Analysis
3.8. COVID-19 Impact Analysis

 

4. Global Vegan Fish Market By Product Type, 2020 – 2030 (USD Mn)


4.1. Overview
4.2. Burger Patty
4.3. Fillets
4.4. Crumbles & Grounds

 

5. Global Vegan Fish Market By Source, 2020 – 2030 (USD Mn)


5.1. Overview
5.2. Soy-based Protein
5.3. Wheat-based Protein

 

6. Global Vegan Fish Market By Distribution Channel, 2020 – 2030 (USD Mn)


6.1. Overview
6.2. Supermarkets/Hypermarket
6.3. Convenience Stores
6.4. Specialty Food Stores
6.5. Others

 

7. North America Vegan Fish Market Analysis and Forecast, 2020 – 2030 (USD Mn)


7.1. Overview
7.2. North America Vegan Fish Market by Product Type, (2020-2030 USD Mn)
7.3. North America Vegan Fish Market by Source, (2020-2030 USD Mn)
7.4. North America Vegan Fish Market by Distribution Channel, (2020-2030 USD Mn)
7.5. North America Vegan Fish Market by Country, (2020-2030 USD Mn)
7.5.1. U.S.
7.5.1.1. U.S. Vegan Fish Market by Product Type, (2020-2030 USD Mn)
7.5.1.2. U.S. Vegan Fish Market by Source, (2020-2030 USD Mn)
7.5.1.3. U.S. Vegan Fish Market by Distribution Channel, (2020-2030 USD Mn)
7.5.2. Canada
7.5.2.1. Canada Vegan Fish Market by Product Type, (2020-2030 USD Mn)
7.5.2.2. Canada Vegan Fish Market by Source, (2020-2030 USD Mn)
7.5.2.3. Canada Vegan Fish Market by Distribution Channel, (2020-2030 USD Mn)

 

8. Europe Vegan Fish Market Analysis and Forecast, 2020 - 2030 (USD Mn)


8.1. Overview
8.2. Europe Vegan Fish Market by Product Type, (2020-2030 USD Mn)
8.3. Europe Vegan Fish Market by Source, (2020-2030 USD Mn)
8.4. Europe Vegan Fish Market by Distribution Channel, (2020-2030 USD Mn)
8.5. Europe Vegan Fish Market by Country, (2020-2030 USD Mn)
8.5.1. Germany
8.5.1.1. Germany Vegan Fish Market by Product Type, (2020-2030 USD Mn)
8.5.1.2. Germany Vegan Fish Market by Source, (2020-2030 USD Mn)
8.5.1.3. Germany Vegan Fish Market by Distribution Channel, (2020-2030 USD Mn)
8.5.2. U.K.
8.5.2.1. U.K. Vegan Fish Market by Product Type, (2020-2030 USD Mn)
8.5.2.2. U.K. Vegan Fish Market by Source, (2020-2030 USD Mn)
8.5.2.3. U.K. Vegan Fish Market by Distribution Channel, (2020-2030 USD Mn)
8.5.3. France
8.5.3.1. France Vegan Fish Market by Product Type, (2020-2030 USD Mn)
8.5.3.2. France Vegan Fish Market by Source, (2020-2030 USD Mn)
8.5.3.3. France Vegan Fish Market by Distribution Channel, (2020-2030 USD Mn)
8.5.4. Spain
8.5.4.1. Spain Vegan Fish Market by Product Type, (2020-2030 USD Mn)
8.5.4.2. Spain Vegan Fish Market by Source, (2020-2030 USD Mn)
8.5.4.3. Spain Vegan Fish Market by Distribution Channel, (2020-2030 USD Mn)
8.5.5. Italy
8.5.5.1. Italy Vegan Fish Market by Product Type, (2020-2030 USD Mn)
8.5.5.2. Italy Vegan Fish Market by Source, (2020-2030 USD Mn)
8.5.5.3. Italy Vegan Fish Market by Distribution Channel, (2020-2030 USD Mn)
8.5.6. Rest of Europe
8.5.6.1. Rest of Europe Vegan Fish Market by Product Type, (2020-2030 USD Mn)
8.5.6.2. Rest of Europe Vegan Fish Market by Source, (2020-2030 USD Mn)
8.5.6.3. Rest of Europe Vegan Fish Market by Distribution Channel, (2020-2030 USD Mn)

 

9. Asia Pacific Vegan Fish Market Analysis and Forecast, 2020 - 2030 (USD Mn)


9.1. Overview
9.2. Asia Pacific Vegan Fish Market by Product Type, (2020-2030 USD Mn)
9.3. Asia Pacific Vegan Fish Market by Source, (2020-2030 USD Mn)
9.4. Asia Pacific Vegan Fish Market by Distribution Channel, (2020-2030 USD Mn)
9.5. Asia Pacific Vegan Fish Market by Country, (2020-2030 USD Mn)
9.5.1. China
9.5.1.1. China Vegan Fish Market by Product Type, (2020-2030 USD Mn)
9.5.1.2. China Vegan Fish Market by Source, (2020-2030 USD Mn)
9.5.1.3. China Vegan Fish Market by Distribution Channel, (2020-2030 USD Mn)
9.5.2. Japan
9.5.2.1. Japan Vegan Fish Market by Product Type, (2020-2030 USD Mn)
9.5.2.2. Japan Vegan Fish Market by Source, (2020-2030 USD Mn)
9.5.2.3. Japan Vegan Fish Market by Distribution Channel, (2020-2030 USD Mn)
9.5.3. India
9.5.3.1. India Vegan Fish Market by Product Type, (2020-2030 USD Mn)
9.5.3.2. India Vegan Fish Market by Source, (2020-2030 USD Mn)
9.5.3.3. India Vegan Fish Market by Distribution Channel, (2020-2030 USD Mn)
9.5.4. Rest of Asia Pacific
9.5.4.1. Rest of Asia Pacific Vegan Fish Market by Product Type, (2020-2030 USD Mn)
9.5.4.2. Rest of Asia Pacific Vegan Fish Market by Source, (2020-2030 USD Mn)
9.5.4.3. Rest of Asia Pacific Vegan Fish Market by Distribution Channel, (2020-2030 USD Mn)

 

10. Latin America (LATAM) Vegan Fish Market Analysis and Forecast, 2020 - 2030 (USD Mn)


10.1. Overview
10.2. Latin America Vegan Fish Market by Product Type, (2020-2030 USD Mn)
10.3. Latin America Vegan Fish Market by Source, (2020-2030 USD Mn)
10.4. Latin America Vegan Fish Market by Distribution Channel, (2020-2030 USD Mn)
10.5. Latin America Vegan Fish Market by Country, (2020-2030 USD Mn)
10.5.1. Brazil
10.5.1.1. Brazil Vegan Fish Market by Product Type, (2020-2030 USD Mn)
10.5.1.2. Brazil Vegan Fish Market by Source, (2020-2030 USD Mn)
10.5.1.3. Brazil Vegan Fish Market by Distribution Channel, (2020-2030 USD Mn)
10.5.2. Mexico
10.5.2.1. Mexico Vegan Fish Market by Product Type, (2020-2030 USD Mn)
10.5.2.2. Mexico Vegan Fish Market by Source, (2020-2030 USD Mn)
10.5.2.3. Mexico Vegan Fish Market by Distribution Channel, (2020-2030 USD Mn)
10.5.3. Rest of Latin America
10.5.3.1. Rest of Latin America Vegan Fish Market by Product Type, (2020-2030 USD Mn)
10.5.3.2. Rest of Latin America Vegan Fish Market by Source, (2020-2030 USD Mn)
10.5.3.3. Rest of Latin America Vegan Fish Market by Distribution Channel, (2020-2030 USD Mn)

 

11. Middle East and Africa Vegan Fish Market Analysis and Forecast, 2020 - 2030 (USD Mn)


11.1. Overview
11.2. MEA Vegan Fish Market by Product Type, (2020-2030 USD Mn)
11.3. MEA Vegan Fish Market by Source, (2020-2030 USD Mn)
11.4. MEA Vegan Fish Market by Distribution Channel, (2020-2030 USD Mn)
11.5. Middle East and Africa Vegan Fish Market, by Country, (2020-2030 USD Mn)
11.5.1. GCC
11.5.1.1. GCC Vegan Fish Market by Product Type, (2020-2030 USD Mn)
11.5.1.2. GCC Vegan Fish Market by Source, (2020-2030 USD Mn)
11.5.1.3. GCC Vegan Fish Market by Distribution Channel, (2020-2030 USD Mn)
11.5.2. South Africa
11.5.2.1. South Africa Vegan Fish Market by Product Type, (2020-2030 USD Mn)
11.5.2.2. South Africa Vegan Fish Market by Source, (2020-2030 USD Mn)
11.5.2.3. South Africa Vegan Fish Market by Distribution Channel, (2020-2030 USD Mn)
11.5.3. Rest of MEA
11.5.3.1. Rest of MEA Vegan Fish Market by Product Type, (2020-2030 USD Mn)
11.5.3.2. Rest of MEA Vegan Fish Market by Source, (2020-2030 USD Mn)
11.5.3.3. Rest of MEA Vegan Fish Market by Distribution Channel, (2020-2030 USD Mn)

 

12. Company Profiles


12.1. Gardein by Conagra Brands
12.1.1. Business Description
12.1.2. Financial Health and Budget Allocation
12.1.3. Product Positions/Portfolio
12.1.4. Recent Development
12.1.5. SWOT Analysis
12.2. MorningStar Farms
12.2.1. Business Description
12.2.2. Financial Health and Budget Allocation
12.2.3. Product Positions/Portfolio
12.2.4. Recent Development
12.2.5. SWOT Analysis
12.3. Archer Daniels Midland Company
12.3.1. Business Description
12.3.2. Financial Health and Budget Allocation
12.3.3. Product Positions/Portfolio
12.3.4. Recent Development
12.3.5. SWOT Analysis
12.4. Symrise
12.4.1. Business Description
12.4.2. Financial Health and Budget Allocation
12.4.3. Product Positions/Portfolio
12.4.4. Recent Development
12.4.5. SWOT Analysis
12.5. Roquette Frères S.A.
12.5.1. Business Description
12.5.2. Financial Health and Budget Allocation
12.5.3. Product Positions/Portfolio
12.5.4. Recent Development
12.5.5. SWOT Analysis
12.6. Kellogg’s
12.6.1. Business Description
12.6.2. Financial Health and Budget Allocation
12.6.3. Product Positions/Portfolio
12.6.4. Recent Development
12.6.5. SWOT Analysis
12.7. Tyson Foods, Inc.
12.7.1. Business Description
12.7.2. Financial Health and Budget Allocation
12.7.3. Product Positions/Portfolio
12.7.4. Recent Development
12.7.5. SWOT Analysis
12.8. Sotexpro SA
12.8.1. Business Description
12.8.2. Financial Health and Budget Allocation
12.8.3. Product Positions/Portfolio
12.8.4. Recent Development
12.8.5. SWOT Analysis
12.9. Crown Soya Protein Group
12.9.1. Business Description
12.9.2. Financial Health and Budget Allocation
12.9.3. Product Positions/Portfolio
12.9.4. Recent Development
12.9.5. SWOT Analysis
12.10. Puris Proteins, LLC
12.10.1. Business Description
12.10.2. Financial Health and Budget Allocation
12.10.3. Product Positions/Portfolio
12.10.4. Recent Development
12.10.5. SWOT Analysis
12.11. Ingredion GmbH
12.11.1. Business Description
12.11.2. Financial Health and Budget Allocation
12.11.3. Product Positions/Portfolio
12.11.4. Recent Development
12.11.5. SWOT Analysis
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