Poke Foods Industry Market Grow Exponentially 2030
Harsh Singh
According to the Market Statsville Group (MSG), the global poke foods industry market size is expected to grow from USD 846.02 million in 2022 to USD 2013.18 million by 2033, at a CAGR of 8.2% from 2023 to 2033. The popularity of poke meals has grown in numerous parts of the world. These meals are high in nutrients including omega-3 fatty acids and vitamin A. The poke foods market will be grown by factors such as rise in consumer awareness towards the health benefit of poke food and one of the factors that are contributing to its rapid growth is the rising trend of creating innovative poke bowls using unique flavors and ingredients. And on the other hand, the rising demand for organic seafood is the main key factor that depletes the marine species, which results in restraining the growth of the market. In additional, the reduction in fish stocks would have an influence on the supply of raw fish, causing its price to rise. As a result of the strong demand and limited supply, poke bowl prices will rise, impeding the expansion of the poke food sector. Moreover, e-commerce penetration has changed the way the food business is performed in the many regions, over the last few decades and this will create a huge opportunity in this market over the forecast period.
Definition of the Global Poke Foods Industry Market
Poke cuisine, also known as Niihau, is a traditional Hawaiian dish that consists of diced raw fish served as a starter or as the main course. Poke is traditionally cooked using tuna fish, although it can also be made with shellfish or octopus. The poke cuisine is high in omega-3 fatty acids and protein, which will increase its popularity among health-conscious customers. The first poke was made by fishermen seasoning cut-offs from their catch to serve as a snack. The traditional Hawaiian poke is made with gutted, peeled, and deboned fish. Cubed raw fish, maui onions, inamona (roasted, crushed, and salted candlenut), green onions, and/or sesame oil may be used in traditional Hawaiian poke. It's accompanied with traditional condiments like Hawaiian sea salt and limu.
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Global Poke Foods Industry Market Dynamics
Drivers: Rise in consumer awareness towards the health benefit of poke food
Poke is a Hawaiian dish centred on raw ahi tuna, salmon or marinated octopus and others. It includes ultra-fresh sliced seafood with flavourings like salt and seaweed and maybe a little sticky rice or vegetables to make it more filling. Generally, the poke bowl is highly customizable and can contain two main nutritious food – fish and vegetables. The common vegetable used in poke are avocado, carrots, garlic, onion, and many more, which are full of vitamins, fiber, minerals, and antioxidants, that are healthy for an individual. While the other ingredient Fish are a good source of unsaturated omega-3 fatty acids and protein, which are important for brain, heart health, and reducing inflammation.
Growing demand for healthy food, brought on by a rapidly, expanding population, rising literacy levels, and food services faces high expectations as a result of technological innovation. This has shifted demand in favour of a health food diet. Good and healthy food confers on a person or groups’ freedom from illness and an ability to realize one's potential. Individuals are becoming more interested in the health and cleanliness standards associated with food goods. There has been also a shift observed in the customer’s focus from price to quality in the present scenario, especially in the urban and a few semi-urban areas. Thus, the robust growth of the urban population and improved healthy lifestyle of individuals create a high demand for the poke food market.
Restraints: Depletion of sea species
The rising demand for organic seafood and poke foods is the main factor that depletes the marine species, which is restraining the growth of the market. Overfishing is a process of catching fish from the sea at rates too high where fish stocks become too depleted to recover. Generally, the oceans taking up over 70% of the Earth, sea creatures, hence, the overall health of marine life is essential for sustaining life elsewhere on the planet. However, overfishing, climate change, marine pollution and many others are having drastic effects on the future of both ocean and land dwellers.
Millions of people depend on fishing for their livelihood, with increased overfishing related practices and without sustainable management, endangers ecosystems and affect the balance of life in oceans. Whereas the collaboration of fishermen and fish farmers with distributors, processors, retailers, restaurants, and food service providers is projected to offer a solution to resolve the environmental issues, result in making the market environmentally, economically, and socially sustainable.
Opportunities: Global rise in penetration of e-commerce sector
E-commerce penetration has changed the way the food business is performed in the region. Over the last few decades, e-commerce has become a crucial part of the international food delivery industry as internet penetration, and smartphone adoption is growing in personal and commercial applications. Besides, the area of online to offline (O2O) commerce is increasing the usage of online food delivery (online FD) platforms. The rise of online FD has revolutionized the way that many customers and food suppliers interact; therefore, food retailers are looking for sustainable and healthy food options like poke food. According to Gloria Food, nearly 48% (around 2 billion) of the total U.S. population ordered a meal via online platforms in 2016, up from 22% (637 million) from 2011. Also, in 2018, it is estimated that nearly 68% of the U.S. people ordered food items via online platforms. Therefore, the demand for poke food is gaining a high growth potential in the e-commerce food market as it attracts consumers who prefer healthy diets.
Furthermore, amidst the pandemic, consumers have been dependent on e-commerce platforms for their day-to-day needs. Several brands and local food retailers are selling their food products via online platforms since many consumers are spending more time on online food shopping across the region. Thus, high e-commerce penetration is creating a lucrative growth prospectus in the market.
Scope of the Global Poke Foods Industry Market
The study categorizes the poke foods industry market based on application and type area at the regional and global levels.
By Type Outlook (Sales, USD Billion, 2019-2033)
- Tuna
- Salmon
- Octopus
- Shellfish
- Others
By Application Outlook (Sales, USD Billion, 2019-2033)
- Office Worker
- Travel & Hospitality
- Consumer Goods & Retail
- Others
By Region Outlook (Sales, USD Billion, 2019-2033)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Italy
- France
- UK
- Spain
- Poland
- Russia
- The Netherlands
- Norway
- Czech Republic
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Malaysia
- Thailand
- 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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Tuna based segment accounts for the largest market share by type
Based on the type, the market is divided into tuna, salmon, octopus, shellfish and others. The tuna segment is expected to dominate the market share in 2022 in the global poke foods industry market. Tuna poke is a Hawaiian dish made with raw tuna marinated in sesame oil, soy sauce, and onions. Here it's served over sushi rice with the preferred toppings. Tuna fish consumption is expanding in major seafood-consuming countries, and numerous new vendors are joining the poke foods industry in areas such as Western Europe, North America, and Oceania. This is projected to affect the growth of the global poke foods market favorably during the forecast period.
North America is expected to account for the highest market share by Region
Based on the regions, the global poke foods industry market has been segmented across Asia-Pacific, Europe, North America, Middle East & Africa and South America. North America is expected to account the highest market share in 2022. North America is predicted to have strong market expansion as customers desire more creative and healthful foods. The ease and convenience afforded by the poke bowl and huge expansion in the number of eateries offering poke has propelled its regional market.
On the other hand, Europe is predicted to see a considerable rise due to the rising demand of consumers for convenience food items. Further, according to Eurostat the employment rate in Europe improved, which has contributed to rise in the working population. The employment rate also shows that a high number of individuals are working and consequently spend less time cooking. All these elements fuel the expansion of European poke food market.
Competitive Landscape - Global Poke Foods Industry Market
The poke foods industry market has significant competitors and extremely cutthroat in the sector are using strategies including product launches, collaboration, partnerships, acquisitions, agreements, and growth to enhance their market positions. Most sector businesses focus on increasing their operations worldwide and cultivating long-lasting partnerships.
Major key players in the global poke foods industry market are:
- Aloha Poke
- Mainland Poke
- Pokeworks
- Sweetfin Poke
- Western United Fish
- AnnaSea Foods Group
- Island Poke,
- THE POKE COMPANY
- FRESHFIN POKÉ
- Ahi Poké
- ISLAND FIN POKE, Co.
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Recent Development
- In June 2022, Pokeworks and OmniFoods had partner to launch Plant-Based Musubi. The partnership between Pokeworks and OmniFoods comes right in time to support 'Veganuary.'
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