Plant-based seafood is made from legume proteins, soya protein, wheat protein, rice, vegetables, seaweed and plant oils. The global plant-based seafood market is projected to reach $1.3 billion by 2031, growing at a 42.3 per cent Compound Annual Growth Rate (CAGR) from 2022 to 2031. The market size for plant-based seafood was valued at 42.1 million in 2021, accounting for 62.7 per cent market share. The seafood segment is expected to remain dominant during the estimated period, with products like burgers, fillets, cutlets and tenders in high demand. As the numbers and outlook for the future are looking optimistic for the industry, let's examine this growing Alt-food source.
The Food and Agriculture Organisation’s (FAO) The State of World Fisheries and Aquaculture report 2022 states that fisheries and aquaculture production globally has reached 214 million tonnes, including 178 million tonnes of aquatic animals and 36 million tonnes of algae. Since 1961, per capita consumption of seafood has increased by 3 per cent annually. Although global seafood production is in better condition, environmental concerns, health issues, and overfishing of certain species have led to a surge in demand for alternative seafood or plant-based seafood.
According to a Good Food Institute survey, seven of the top ten seafood-consuming countries are in Asia, including China, Myanmar, Vietnam, Japan, India, Malaysia and Indonesia. This indicates a significant potential market for plant-based seafood products. Investors are also ready to invest in plant-based seafood products. In 2021 plant-based seafood companies raised $175 million and more than 120 companies are manufacturing and developing plant-based seafood mostly from, East and Southeast Asia.
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Denne historien er fra March 2023-utgaven av AgroSpectrum.
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Small farmers are the greatest asset to India's food security: PM Modi
Prime Minister Narendra Modi centre) along with other dignitaries at the inauguration of the 32nd International Conference of Agricultural Economists ICAE) at National Agricultural Science Centre NASC) Complex, in New Delhi on August 3, 2024.
Agri Budgeting Blues
Budgeting blues is a wonderful term to identify what you have and what is necessary to investigate the need. When one deciphers the current Budget specifically for the farm sector blues, there is little Khushi (Happiness) and more Gum (sadness).
Unlocking the Potential of Municipal Solid Waste
The more conventional methods of managing waste, such burning and landfilling, become unsustainable. Landfills, although still in widespread usage, are land-use intensive and provide long-term environmental hazards, such as methane emissions and groundwater contamination. Even while incineration is a good way to reduce trash volume, it is energy-intensive and emits dangerous emissions. Cities are looking for new and creative approaches to manage garbage sustainably as conventional approaches become less practical.
Why Energy Transition Financing is Crucial for India
The whole world is badly hit by the cost of energy, including fuel, due to the ongoing geo-political issues. India’s net oil and gas import bill reportedly stood at 122 billion for 2023-24. The Indian economy is the fastest growing economy and estimated to grow between 6.8 and 7.2 per cent in the coming years. No doubt the need for energy is ever increasing. India’s per capita electricity consumption is at 1200 units as compared to the USA which is 12000 units. Energy is a growth engine for any economy. In such a situation, focusing on Energy Transition is quite crucial, with significantly long term financing for 15-20 years in place.
Navigating Upstream Challenges in Bioenergy Sector
Bharat is at the cusp of a Green Energy Revolution’; and Bioenergy, including Biofuels, is a vital Energy Engine’ to contribute towards the Net Zero 2070 commitment made by India during COP26. Surely, we will get there with collective efforts and partnerships, as we move into COP29 at Azerbaijan this year and beyond and one is sanguine that Bharat will not only lead the 2nd Industrial Revolution but also initiate and lead the Green Energy Revolution’.
Why Ensuring Adequate Biomass Supply is Fraught with Challenges
In recent years, biomass has emerged as a promising source of bioenergy, offering carbon neutral and sustainable energy. Sourcing and procurement of feedstock in India, however, presents unique challenges due to varying agricultural land, infrastructure constraints and economic conditions. Let's take a closer look.
Leveraging Bioenergy to Revitalise Indian Economy
From the early use of fire and animal power that improved lives, to the present world with use of electricity and cleaner sustainable fuels for a multitude of purposes - energy has been the enabler of development.
Can Bioenergy Adoption End Stubble Burning Practise?
Rice is one of the primary agricultural produces in India and a major source of sustenance.
Compressed BioGas: The New Hope for Energy Independence
The global bioenergy landscape is evolving rapidly, with countries around the world recognising its potential to address climate change, enhance energy security, and promote sustainable development. India, with its abundant biomass resources and growing energy demand, is uniquely positioned to lead in the bioenergy sector, particularly in the production and utilisation of Compressed Biogas CBG). Let's delve deep as to how CBG can be a new hope for energy independence for India.
Public-Private Partnership in Bioenergy Sector
Public-Private Partnerships (PPPS) represent a collaborative approach between government entities and private sector companies to achieve goals that neither party could easily achieve alone.