Global Vegan Tuna Market Size To Worth USD 1945.4 Million By 2033 | CAGR of 7.57%
Category: Consumer GoodsGlobal Vegan Tuna Market Size To Worth USD 1945.4 Million By 2033
According to a research report published by Spherical Insights & Consulting, the Global Vegan Tuna Market Size is to Grow from USD 937.6 Million in 2023 to USD 1945.4 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 7.57% during the projected period.
Get more details on this report -
Browse key industry insights spread across 230 pages with 102 Market data tables and figures & charts from the report on the "Global Vegan Tuna Market Size, Share, and COVID-19 Impact Analysis, By Product (Frozen, Canned, and Others), By End-User (Household and Foodservice), By Distribution Channel (Supermarkets/Hypermarkets, Online, Convenience Stores, Specialty Stores, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/vegan-tuna-market
Vegan tuna refers to tuna alternatives made from plants that are meant to mimic actual tuna in terms of texture, flavour, and nutritional value. The increased popularity of these plant-based replacements, which contain components such as soy, yeast, seaweed, and pea protein, can be ascribed to the rise of vegan and flexitarian diets, as well as health and environmental concerns. Vegan tuna may be used in a wide range of recipes, including salads, casseroles, and sandwiches. It frequently contains seasonings to mimic real tuna. Vegetarianism is gaining popularity in society as consumers become more aware of the negative health effects of consuming animal products and the ethical difficulties linked with animal husbandry, which is propelling market growth. However, increasing number of consumers is highly allergic to peas and soy, hampering the industry's growth and making it harder for manufacturers to produce allergen-free vegan tuna.
The frozen segment is expected to hold the largest market share of the vegan tuna market during the projected timeframe.
Based on the product, the vegan tuna market is divided into frozen, canned, and others. Among these, the frozen segment is expected to hold the largest market share of the vegan tuna market during the projected timeframe. One of the main causes for frozen products' popularity is that they may retain their texture, flavour, and nutritional value longer than their canned or fresh counterparts. Because of this remarkable preservation, frozen vegan tuna is regarded by both retailers and customers as a more appealing option.
The household segment is estimated to grow at the highest CAGR of the vegan tuna market during the projected timeframe.
Based on the end-user, the vegan tuna market is divided into household and foodservice. Among these, the household segment is estimated to grow at the highest CAGR of the vegan tuna market during the projected timeframe. Customers searching for plant-based protein substitutes for animal protein are drawn to vegan tuna since it is a healthier option. Moreover, customers now have easier access to products like vegan tuna, which is simple to incorporate into homemade meals, due to the growth of plant-based food options in grocery stores.
The supermarkets/hypermarkets segment accounted for the largest revenue share of the vegan tuna market during the projected timeframe.
Based on the distribution channel, the vegan tuna market is divided into supermarkets/hypermarkets, online, convenience stores, specialty stores, and others. Among these, the supermarkets/hypermarkets segment accounted for the largest revenue share of the vegan tuna market during the projected timeframe. Due to the wide range of vegan products in several categories, supermarkets are frequently the first choice for consumers searching for plant-based substitutes. Furthermore, a major factor in increasing sales has been the growth of plant-based food departments in supermarkets.
North America is expected to hold the largest share of the vegan tuna market over the forecast period.
Get more details on this report -
North America is expected to hold the largest share of the vegan tuna market over the forecast period. This is because consumers are highly conscious of the benefits of plant-based diets and environment. The United States and Canada, where plant-based eating is a well-established trend, are home to a sizable community of vegans, vegetarians, and flexitarians. The dominance of North America can also be attributed to the substantial number of well-established plant-based food enterprises in the region.
Asia-Pacific is predicted to grow at the fastest pace in the vegan tuna market during the projected timeframe. The region is rapidly growing more developed, and as middle-class populations grow in nations like Australia, China, and Japan, consumer expectations are changing to include more sustainable and better food options. Growing concerns about the sustainability of the ecosystem and overfishing in the area are fuelling the desire for plant-based seafood substitutes like vegan tuna.
Major vendors in the vegan tuna market are Thai Union, Jinka Vegan Tuna Spread, Good Catch, Loma Linda TUNO, Ocean Hugger Foods, Inc., Atlantic Natural Foods, May Wah Vegan Delicious Tuna, Garden Gourmet Vuna, Sophie’s Kitchen, Prime Roots, OmniTuna, Hooked, Vgarden Ltd., Endori, and others.
Recent Developments
- In January 2023, Vgarden Ltd., a food technology inventor and maker of plant-based alternatives, introduced a significant vegan canned tuna. The 100% derived from plants product has an identical appear, texture, and flavor as the canned kitchen staple.
- In September 2023, Loryma, a wheat ingredient firm, disclosed the launch of their tuna analogue, which is marketed as a "canned tuna alternative."
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the vegan tuna market based on the below-mentioned segments:
Global Vegan Tuna Market, By Product
- Frozen
- Canned
- Others
Global Vegan Tuna Market, By End-User
- Household
- Foodservice
Global Vegan Tuna Market, By Distribution Channel
- Supermarkets/Hypermarkets
- Online
- Convenience Stores
- Specialty Stores
- Others
Global Vegan Tuna Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
CONTACT US:
For More Information on Your Target Market, Please Contact Us Below:
Phone: +1 303 800 4326 (the U.S.)
Phone: +91 90289 24100 (APAC)
Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com
Contact Us: https://www.sphericalinsights.com/contact-us
Need help to buy this report?