Plant-based Tuna Market Size - By Source (Soy-based, Wheat-based, Pea-based, Lentil-based, Algae-based), By Form (Solid, Flakes, Chunks), By Packaging (Cans, Pouches, Tubs), Flavor, Distribution Channel, Product Type & Global Forecast, 2023 - 2032

Plant-based Tuna Market Size - By Source (Soy-based, Wheat-based, Pea-based, Lentil-based, Algae-based), By Form (Solid, Flakes, Chunks), By Packaging (Cans, Pouches, Tubs), Flavor, Distribution Channel, Product Type & Global Forecast, 2023 - 2032

Plant-based Tuna Market size is projected to witness 15.6% CAGR from 2023 to 2032, driven by the ongoing R&D efforts to offer improved taste, texture, and variety.

With consumers worldwide increasingly prioritizing health, sustainability, and ethical considerations in their dietary choices, the demand for plant-based alternatives, including tuna is significantly surging. Furthermore, the growing popularity of vegan and vegetarian diets has fueled the popularity of plant-based proteins. Manufacturers are capitalizing on these trends by developing innovative plant-based tuna products that cater to the evolving preferences of health-conscious and environmentally aware consumer base, boosting the market growth.

The overall plant-based tuna market is categorized in terms of source, product type, form, flavor, packaging, distribution channel, and region.

Based on source, the plant-based tuna industry from the algae-based segment is set to witness remarkable growth through 2032. Algae-based tuna alternatives have gained prominence due to their sustainability, nutritional value, and ability to closely replicate the taste and texture of traditional tuna. With health-conscious consumers increasingly seeking protein sources that align with their dietary preferences, algae-based tuna products have garnered substantial interest. The rising focus of industry players on massive investments in algae ingredients rich in omega-3 fatty acids to produce new alternative seafood products with nutritional equivalence to fish will also augment the market outlook. For instance, in June 2023, John West, a well-established seafood company, launched plant-based tuna salads in the U.K.

With respect to product type, the frozen plant-based tuna market is poised to gain notable traction between 2023 and 2032 driven by growing adoption of plant-based diets by consumers for health and environmental reasons. Frozen plant-based tuna products provide an easy-to-store, long-lasting alternative to traditional tuna, appealing to busy individuals seeking healthy, sustainable, and quick meal solutions, further contributing to the segment growth.

Asia Pacific held sizable share of the plant-based tuna market in 2022 and is projected to witness robust growth through 2032. The rising awareness of health and environmental concerns among consumers has prompted the need for sustainable and plant-based diets. The growing innovative product developments by local and international companies for introducing variety of plant-based tuna options to cater to diverse regional tastes will also propel the industry growth. For instance, in July 2022, Philippines-based Century Pacific Food Inc. launched a plant-based tuna replacement manufactured with non-GMO soy, natural oils, and seasonings to offer the taste, texture, and appearance of tuna.