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Protein seafood
Entering 2022, the investment intention of the capital market for alternative seafood has cooled down, but industry insiders believe that on the one hand, the global economy is facing greater uncertainty this year, on the other hand, compared with the traditional seafood market, the market size of alternatives is still too small
.
.
Carlotte Lucas, corporate management manager at the Good Food Institute (GFI), the U.
S.
plant-based food promotion agency, told UCN: "2022 has been a tough year for the industry, and we expect investment in the alternative seafood sector to remain stable or decline slightly this year, but this does not fully reflect the weakening
of the market's growth intentions for the industry.
" ”
S.
plant-based food promotion agency, told UCN: "2022 has been a tough year for the industry, and we expect investment in the alternative seafood sector to remain stable or decline slightly this year, but this does not fully reflect the weakening
of the market's growth intentions for the industry.
" ”
Between 2013 and 2021, plant-based seafood projects accounted for 63% of total investment in the alternative seafood industry, the largest of which occurred in 2021, when BlueNalu successfully raised US$60 million to launch the world's first cell-grown seafood commercial pilot project
.
.
Lucas said: "In the future, there will be more new plant-based and cell-based seafood start-ups around the world, more new products will be launched, and more traditional large seafood companies will enter this field
.
" ”
.
" ”
Last year, GFI welcomed at least 21 new alternative seafood companies, bringing the total to around 120, and launched alternative seafood products
for the first time in Estonia, South Africa, Latvia, Australia and Israel.
for the first time in Estonia, South Africa, Latvia, Australia and Israel.
"The global seafood market is very different in terms of consumption, with hundreds of varieties
.
Alternative seafood companies are taking advantage of this opportunity to develop alternatives
that appeal to a variety of markets.
GFI said that in 2021, the retail sales of plant-based seafood in the United States increased by 14% to $13.
9 million, and sales increased by 42% from 2019 to 2021, and although the market base is small
, many branded products have entered the market and distribution channels have expanded.
.
Alternative seafood companies are taking advantage of this opportunity to develop alternatives
that appeal to a variety of markets.
GFI said that in 2021, the retail sales of plant-based seafood in the United States increased by 14% to $13.
9 million, and sales increased by 42% from 2019 to 2021, and although the market base is small
, many branded products have entered the market and distribution channels have expanded.
More specifically, plant-based shrimp, crabs, shellfish (including plant-based products of shrimp, scallops, and crabs) grew by 30 percent, and plant-based fish grew by 9 percent
.
In terms of value, sales of plant-based fish account for about 75 percent of the plant-based seafood market, while plant-based shellfish account for another 25 percent
.
.
In terms of value, sales of plant-based fish account for about 75 percent of the plant-based seafood market, while plant-based shellfish account for another 25 percent
.
According to GFI, plant-based seafood accounts for less than 1 percent
of the entire plant-based meat market.
In contrast, conventional seafood accounts for one-fifth of traditional meat protein sales, meaning plant-based seafood still has a lot of room to grow
.
In 2021, U.
S.
plant-based meats accounted for 1.
4 percent of the total meat market, and plant-based seafood accounted for 0.
1 percent
of all seafood retail sales.
of the entire plant-based meat market.
In contrast, conventional seafood accounts for one-fifth of traditional meat protein sales, meaning plant-based seafood still has a lot of room to grow
.
In 2021, U.
S.
plant-based meats accounted for 1.
4 percent of the total meat market, and plant-based seafood accounted for 0.
1 percent
of all seafood retail sales.
GFI believes that if plant-based seafood has the same market share as plant-based meat, then U.
S.
plant-based seafood sales are expected to grow by $220 million
.
With 65% of seafood consumption in the U.
S.
market occurring in the foodservice industry, the overall market opportunity is likely to be much
larger than expected.
S.
plant-based seafood sales are expected to grow by $220 million
.
With 65% of seafood consumption in the U.
S.
market occurring in the foodservice industry, the overall market opportunity is likely to be much
larger than expected.
