Friday, August 12, 2022

Cell-Based Seafood Market is projected to grow at a CAGR of 2.1% by 2030

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According to the Market Statsville Group (MSG), the global cell-based seafood market size is projected to grow at a CAGR of 2.1% from 2022 to 2030cellular aquaculture, or cell-based seafood, utilizes cells from the seafood plants and animals and grows them to generate real seafood products with the same nutritional value sensory experience as traditional seafood products. Further, cell-based seafood providing companies harness the intrinsic property of cells to regenerate specific cell types, such as fat or muscle, in a controlled surrounding that is not susceptible to environmental challenges such as mercury or other toxins, which will drive the market’s growth. For instance, creating cell-based fish pieces with the right consistency, taste, and no toxins, among other benefits, lure potential customers to opt for cell-based seafood over traditional ones.

The health benefits can be cultured and commercially used without exploiting actual species as it is toxin-free. Such factors will pave the way for the growth of the market. However, a lack of awareness among people will hamper the market’s growth in forthcoming years across the globe.

COVID19 Impact on the Global Cell-Based Seafood  Market

The COVID-19 has had a negative impact on the market’s growth due to global lockdowns and disrupted supply chains were major factors hampering its growth amid the pandemic. However, rising awareness among individuals regarding health and well-being pushes them to adopt healthyy cell-based seafood. Hence, cell-based seafood offers great opportunities to people who is health-conscious. This, in turn, drives the market’s growth post-pandemic.

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Scope of the Global Cell-Based Seafood  Market

The study categorizes the cell-based seafood market based on source, product type, distribution channel, end-users, form, at the regional and global levels.

By Source Outlook (Sales, USD Million, 20172030)

  • Plant
  • Animal

By Product Type Outlook (Sales, USD Million, 20172030)

  • Fishes
  • Crustaceans
  • Molluscs
  • Others

By Distribution Channel Outlook (Sales, USD Million, 20172030)

  • Supermarkets and Hypermarkets
  • Convenience Stores
  • Online Stores
  • Others

By End-User Industries Outlook (Sales, USD Million, 20172030)

  • Individuals
  • Commercial
    • Restuarants
    • Food stalls
    • Others

By Region Outlook (Sales, USD Million, 20172030)

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • Italy
    • France
    • UK
    • Spain
    • Poland
    • Russia
    • Slovenia
    • Slovakia
    • the Netherlands
    • Belgium
    • Norway
    • Denmark
    • Czech Republic
    • Sweden
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Malaysia
    • Thailand
    • Vietnam
    • The Philippines
    • Singapore
    • Australia & New Zealand
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Colombia
    • Rest of South America
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Northern Africa
    • Rest of MEA

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Animal segment is projected to account for the largest market share, by Source

Based on Source, the global cell-based seafood market is divided into animals and plants. Among them, the animal segment accounted for the major market share in the year 2021, as health-conscious people opt for cell-based seafood, especially fish. Further, fish consumption may result in food poisioning, allergies, and others. However, cell-based fish are developed in controlled surroundings and hygienically. Such factors are creating lucrative growth opportunities in the market.

North America accounts for the major market share in the cell-based seafood market

Globally, North America accounts for the major market share in the year 2021. The growth is attributed to the presence of major market players in the region. Further, people are opting more for cell-based seafood due to its health benefits and quality. Such factors are paving the way for the region’s market growth. Followed by Europe and Asia-Pacific.

Key Market Players in the Global Cell-Based Seafood  Market

The cell-based seafood  market emerging and evolving in nature with few numbers of global players operating in the market such as:

  • BlueNalu
  • Shiok Meats
  • Finless Foods, Inc.
  • Wildtype.
  • Meatable
  • NewAgeMeats
  • Aleph Farms
  • Avant Meats
  • IntegriCulture

Recent Developments

  • In January 2021, KBW Ventures joined other investors in a USD 60 million debt financing deal for BlueNalu. With this huge fund, BlueNalu will open a nearly 40,000 square foot pilot production facility, along with a complete FDA regulatory review for its first products, and initiate testing in various foodservice stalls or establishments in the United States.
  • In September 2021, Nomad, Europe’s one of the largest frozen food companies has, collaborated with BlueNalu, a cultivated seafood start-up. In order to explore the introduction of cell-based seafood products to Europe.

Report Analysis: 

Key Issues Addressed

  • What is the market size by various segmentation of the cell-based seafood by region and its respective countries?
  • What are the customer buying behavior, key takeaways, and Porter’s 5 forces of the cell-based seafood market?
  • What are the key opportunities and trends for manufacturers involved in the cell-based seafood supply chain?
  • What are the fundamental dynamics (drivers, restraints, opportunities, and challengesof the market?
  • What and how regulations, schemes, patents, and policies are impacting the growth of the market?
  • What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
  • The market player positioning, top winning strategies by years, company product developments, and launches will be?
  • How has COVID19 impacted the demand and sales of cell-based seafood  in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
  • Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25leading and prominent companies in the market.

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