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Plant-based Tuna Market Size - By Source (Soy-based, Wheat-based, Pea-based, Lentil-based, Algae-based), By Form (Solid, Flakes, Chunks), By Packaging (Cans, Pouches, Tubs), Flavor, Distribution Channel, Product Type & Global Forecast, 2023 – 2032

  • Report ID: GMI6387
  • Published Date: Aug 2023
  • Report Format: PDF

Plant-based Tuna Market Size

Plant-based Tuna Market size was valued at USD 270 million in 2022 and is estimated to witness 15.6% CAGR from 2023 to 2032. Increasing awareness of health and wellness among consumers has led to a growing interest in plant-based diets. Many consumers are seeking healthier alternatives to animal-based products, including tuna, to reduce their intake of saturated fats, cholesterol, and mercury. The availability of plant-based tuna products in mainstream retail and foodservice channels has made them more accessible to consumers, driving higher demand.
 

Plant-based Tuna Market

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Advances in food technology and innovation have led to the development of plant-based tuna products that closely mimic the taste, texture, and appearance of real tuna. Improved taste and texture are driving consumer acceptance and adoption.

Sourcing high-quality plant-based ingredients and ensuring a consistent supply chain can be challenging. Dependence on specific raw materials can lead to supply shortages and affect product availability. Plant-based tuna products can sometimes be more expensive to produce than their animal-based counterparts, leading to higher retail prices. One of the primary challenges is to develop plant-based tuna products that closely replicate the taste, texture, and appearance of real tuna.
 

COVID-19 Impact

During the pandemic, there was a change in consumer behavior and preferences. As people became more health-conscious and concerned about the origin of their food, there might have been an increased interest in plant-based products, including plant-based tuna, perceived as healthier and more sustainable options. vThus, the reduced number of COVID-19 cases and implementation of subsequent strategies by government and non-government organizations is set to drive the market growth in the upcoming years.
 

Plant-based Tuna Market Trends

Manufacturers were investing in research and development to create plant-based tuna products that closely mimic the taste, texture, and appearance of real tuna. Advances in food technology and ingredient formulations were leading to improved taste and texture, enhancing consumer acceptance and adoption. The variety of plant-based tuna products was increasing, with companies offering an array of formats such as canned, pouches, frozen, and ready-to-eat options. This diversification aimed to cater to different consumer preferences and usage occasions.
 

Plant-based Tuna Market Analysis

Global  Plant-based Tuna Market Size, By Source, 2021 - 2032 (USD Million)

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The plant-based tuna market size from soy based segment held over USD 72.3 million in 2022. Soy-based proteins have been widely used in the plant-based food industry for years, leading to consumer familiarity and acceptance. Soy-based proteins provide a good source of protein, making them attractive to consumers looking for a protein-rich alternative to real tuna.
 

Global  Plant -based Tuna Market Revenue Share, By Application , (2022)

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The canned plant-based tuna market accounted for 40% of revenue share in 2022. Canned plant-based tuna offers convenience and portability, making it a popular choice for on-the-go meals, picnics, and lunches. Canned products have a longer shelf life, providing consumers with a pantry staple that can be easily stored and used as needed.
 

Solid segment is anticipated to grow at 12.7% CAGR through 2032. Tuna slices or fillets offer a premium presentation, making them suitable for sophisticated dishes and sushi rolls. Slices or fillets can visually resemble real tuna, enhancing their appeal as an alternative in visually appealing dishes.
 

Based on flavor the plant-based tuna market from original flavor segment will gain remarkable momentum during the forecast timeline. Original or unflavored plant-based tuna appeals to consumers seeking a neutral base that can be customized with their preferred seasonings and ingredients.
 

Based on packaging the market from cans packaging segment is projected to show tremendous growth till 2032. Canned packaging provides extended shelf life, ensuring product freshness and longevity. Canned plant-based tuna is portable and easy to store, making it suitable for on-the-go consumption and pantry storage.
 

Based on distribution channel the plant-based tuna market from supermarkets segment to see massive growth through 2032. Supermarkets have extensive coverage, providing broad accessibility to plant-based tuna products for a diverse consumer base.
 

U.S. Plant-based Tuna Market Size, 2020- 2032 (USD Million)

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U.S. plant-based tuna market size dominated around USD 73.6 million in 2022. Increasing health awareness among North American consumers has led to a growing interest in plant-based diets. Many consumers are seeking healthier alternatives to animal-based products, including tuna, to reduce their intake of saturated fats and cholesterol.
 

Plant-based Tuna Market Share

Some of the major companies operating in the plant-based tuna market are:

  • Good Catch Foods
  • Ocean Hugger Foods
  • Sophie's Kitchen
  • TUNO
  • New Wave Foods
  • Loma Linda
  • Akua
  • Wild Type
  • Kuleana
  • Sushi Mushi 
  • New Wave Food
  • Tomato Sushi
  • Surya Foods
  • VBites
  • Atlantic natural food

These companies focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these companies are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
 

Plant-based Tuna Industry News:

  • In 2022, For instance, Atlantic Natural Foods, a leading brand, started offering a unique combination of flavor and texture in their products which is the outcome of the company’s growing research and development investments.
     

This plant-based tuna market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Units from 2018 to 2032, for the following segments:

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Market, By Source

  • Soy-based
  • Wheat-based
  • Pea-based
  • Lentil-based
  • Algae-based
  • Others

Market, By Product Type

  • Canned Plant-based Tuna
  • Frozen Plant-based Tuna
  • Ready-to-Eat Plant-based Tuna
  • Others

Market, By Form

  • Solid
  • Flakes
  • Chunks

Market, By Flavor

  • Original/Unflavored
  • Teriyaki
  • Lemon & Herb
  • Spicy
  • Others

Market, By Packaging

  • Cans
  • Pouches
  •  Tubs
  • Others

Market, By Distribution Channel

  • Supermarkets/Hypermarkets
  • Specialty Stores
  • Online Retail
  • Convenience Stores
  • Health Food Stores
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Indonesia
    • Malaysia 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Egypt

 

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of plant-based tuna recorded USD 270 million in 2022 and may record USD 1.15 billion by 2032 owing to the surging awareness of health and wellness among consumers and the growing demand for plant-based diets.
Soy-based tuna market was valued at USD 72.3 million in 2022 and will witness expansion through 2032, due to the rising need for good sources of protein.
The canned application segment held 40% of the market share in 2022 and is expected to grow at lucrative pace by 2032, owing to growing popularity of on-the-go meals, picnics, and lunches.
Demand for plant-based tuna in the U.S. reached USD 73.6 million in 2022, driven by the rising health awareness and growing interest in plant-based diets.

Plant-based Tuna Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 356
  • Countries covered: 21
  • Pages: 250
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