Plant-Based Shrimp Entrée Bowls Market Forecast and CAGR
According to the latest research by Transparency Market Research, the plant-based shrimp entrée bowls market is set to witness significant growth during 2021-2031. Demand for plant-based shrimp entrée bowls has increased due to the growing popularity of veganism as well as the environment and ethical concern arises, there is high demand for vegan seafood different from before. With the surge of COVID-19, it has been observed that people are shifting towards the plant-based product over non-vegetarian products therefore plant-based shrimp entrée bowls is considered as better alternative.
What is Driving Demand for Plant-Based Shrimp Entrée Bowls?
Plant-Based shrimp entrée bowls are lab-grown seafood, including shrimp made out of plant-based or vegan-friendly shrimp alternatives and grown without any slathering of any animal. The plant-based shrimp entrée bowls has generated a demand in recent years as the vegetarian and vegan option becomes closer in texture and taste to the original. Millions of people have been observed with seafood allergies, with the help of plant-based products they can add a healthy diet and offer nutritional benefits as plant-based seafood does not smell like fish, zero-mercury, and no concern of micro-plastic and a feel-good way to address global overfishing concern.
Shifting Consumer Preference from Sea-food Shrimp to Plant-based Shrimp Entrée Bowls
It has been observed that Plant-Based shrimp products are appealing to the majority of the consumer to emphasize personal attributes such as freshness, familiarity as the plant-based product are look-alike and gives the same feel as the original without disturbing the sea-life. The population are more conscious about the aquatic-life and shifting towards the alternative product which gives the same nutritious value, texture, and taste, Plant-based product is considered as the best alternative as it is good in nutrition content such as fibers, proteins and taste alike shrimp entrée bowls is the best-preferred choice.
U.S Demand Outlook for Plant-Based Shrimp Entrée Bowls Market
The U.S market for plant-based fish products is been witnessed a shift towards plant-based products for the coming years. According to the market study, it was observed that two-fifth of the population are not vegan and tried consuming plant-based foods in their diets. Here company likes Impossible Foods, Archer Daniels, and Kellogg’s got a valuable opportunity to increase their product line as people are shifting towards Plant-based products which can be observed with the growth of restaurants to more than 20,000 serving the plant-based product. Moreover, the companies are planning to expand their firm to fulfill the future demand for the product, and a company like New Wave Foods is a perfect example for the same as the company has invested a great amount in its plant-based shrimp company.
Europe Demand Outlook for Plant-Based Shrimp Entrée Bowls Market
Europe is expected to emerge as the world’s largest vegan food market especially a country like the United Kingdom where nearly half of all Britons are reducing their intake of animal products in tandem due to rising animal humanization needs. The main reason for switching to a plant-based diet is mainly the citizen's concern for the environment. According to the survey of Vegan Society as of 2018 with a sample size of 2,000 and aged above 15 across Wales, Scotland and England discovered the rise in the percentage of consumption of plant based product in consecutive years.
Who are some of the Key Manufacturers in the Plant-Based Shrimp Entrée Bowls Market?
Gardein, Good Catch Foods, IKEA’s “SJÖRAPPORT” Seaweed Pearls, VBites, Vivera, The Vegetarian Butcher, Quorn Foods, Tofurky, Fry Family Food, Oumph!, Linda McCartney Foods, New Wave, Ocean Hugger Foods, Quorn, Sophie’s Kitchen, Tofuna Fysh, Ocean Hugger Foods, Loma Linda, BeLeaf, BlueNalu, Homemade, Impossible Foods, Archer Daniels, Kellogg’s, Final Thought, CLO-CLO vegan foods and others.
By End use
- Foodservice Industry
By Distribution Channel
- Business to Business
- Business to Consumer
- Convenience Stores
- Specialty Stores
- Online Retail
Based on regional, the plant-based shrimp entrée bowls market can be divided into the following:
- North America
- Latin America
- Mexico and Other countries
- Western Europe
- Eastern Europe
- Asia Pacific
- New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- The Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other African countries
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.