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05 Jun 2023

Emerging Trends in Plant-Based Market: Alt Seafood & South Korea Poised for Success as Industry Approaches $105 Billion

Emerging Trends in Plant-Based Market: Alt Seafood & South Korea Poised for Success as Industry Approaches $105 Billion

A new report regarding global plant-based food and beverages states its market value will hit $104.7 billion by 2032, citing vegan seafood as an area of increased relevance, and also finding that South Korea has the potential to experience exponential growth in this period.

Interestingly, and as we have reported before, the study predicts that the alternative seafood category will thrive in the forecast period as it continues to increase in relevance. Several producers, including large conventional food producers, are focusing on recreating the most widely consumed species of fish such as tuna, salmon, lobster, and prawns, which are consumed in vast quantities around the world, while at the same time, the public becomes more aware of the importance of protecting our oceans.

Also interesting and noteworthy is that the authors state South Korea as having “the potential to experience exponential growth in the global plant-based food & beverage market”.

A new report regarding global plant-based food and beverages states its market value will hit $104.7 billion by 2032, citing vegan seafood as an area of increased relevance, and also finding that South Korea has the potential to experience exponential growth in this period.

Interestingly, and as we have reported before, the study predicts that the alternative seafood category will thrive in the forecast period as it continues to increase in relevance. Several producers, including large conventional food producers, are focusing on recreating the most widely consumed species of fish such as tuna, salmon, lobster, and prawns, which are consumed in vast quantities around the world, while at the same time, the public becomes more aware of the importance of protecting our oceans.

Also interesting and noteworthy is that the authors state South Korea as having “the potential to experience exponential growth in the global plant-based food & beverage market”.

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