US: McKinsey report finds higher-end plant-based seafood alternatives have competitive advantage

United States
Market & Price Trends
Innovation & Technology
Published Nov 21, 2023

Tridge summary

The market for seafood alternatives is growing due to increased global demand for seafood, with a McKinsey report predicting a 14% growth in global fish protein demand by 2030. The alternative seafood sector includes plant-based seafood, cell-cultivated seafood, and fermentation-enabled seafood products. However, the sector faces challenges such as high prices and pushback from some elected officials who propose bans and accuse plant-based seafood products of deception.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Market acceptance of seafood alternatives is increasing in tandem with a general rise in global seafood demand, according to a recent study released by global consulting firm McKinsey and Company.The alternative seafood sector comprises plant-based seafood, which includes seafood analogs made from soy, seaweed, yeast, oils, and starches; cell-cultivated seafood, which includes seafood analogs that companies harvest from the cells of fish; and fermentation-enabled seafood products, which includes seafood analogs stemming from three production methods: traditional fermentation, biomass fermentation, and precision fermentation. Analogs already in the market include plant-based shrimp, tuna, salmon, caviar, squid, and crab analogs, and more are on their way.The McKinsey report, “The next wave: Alternative seafood solutions,” predicts 14 percent growth in global fish protein demand through 2030. Due to limitations on wild catches and aquaculture growth, scaling up production of seafood ...
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.