The global vegan sashimi market is expected to reach a valuation of US$ 218.8 million by 2033, according to a new report.
According to data from Future Market Insights (FMI), the demand for vegan sashimi is estimated to grow at a steady 8.5% CAGR, with the UK, the USA, China, and India emerging as key producers.
Among the factors driving the market are the growing global demand for sustainable and ethical food options along with a steady increase in the overall popularity of sashimi.
The report also cites technological advancements that have made it easier to produce plant-based alternatives that mimic the taste and texture of conventional sashimi along with the popularity of fusion dishes in general.
In response to the overall jump in demand for plant-based seafood products, 36 members of the industry from 14 countries recently formed Future Ocean Foods (FOO), the world’s first alternative seafood organization.
Among the organization members is Australian alternative seafood company Boldy Foods. In a recent interview with Future Alternative, Boldly founder and CEO Allen Zelden emphasized the significance of plant-based seafood in lessening the impact of food systems on the planet and marine life.
A recently released report from the Good Food Institute (GFI) noted that global seafood production is projected to grow by 14% from 2020 to 2030, raising the threat to the ocean and marine biodiversity. The paper states that plant-based seafood has a greenhouse gas (GHG) footprint one-third less than conventionally farmed fish and three-quarters less than farmed crustaceans.