Are plant-based seafood alternatives a threat or a new opportunity?
US retail sales of plant-based foods grew 11% during the 52-week period ending Dec. 29,
2019, bringing the total plant-based market value to $5 billion.
Plant-based seafood sales account for $9.5 million of total plant-based meat dollar sales, tiny in comparison to the more than $100 billion of seafood sold in the United States annually.
And while seafood alternative products are far from a category killer at the moment, the growth in sales of these and other plant-based meat
replacements is fueling strong investment in the sector and is reflecting significant changes in consumer eating patterns.
Alternative seafood products are here to stay, for sure, but how big the category will become will be determined by a host of factors, the most
important of which are changing consumer preferences.
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