Technavio analysts forecast the global poke foods market to grow at a CAGR of over 23% during the forecast period, according to their latest market research report.
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Technavio has published a new market research report on the global poke foods market from 2019-2023. (Graphic: Business Wire)
Rising demand for organic seafoods and poke foods is one of the major trends being witnessed in the global poke foods market 2019-2023. Organic seafood is manufactured from naturally-sourced ingredients and does not contain preservatives. Further, they have low calorie and gluten content compared to seafood prepared using conventional methods. Among organic seafood, demand for finfish, shellfish, shrimps, and scallops is moving forward at a brisk pace. Many vendors in the poke foods market have also started offering poke bowls prepared from organically-sourced raw tuna and other fish species. The growth of the organic seafoods market is an encouraging sign for poke food market vendors as they mostly use raw products that are sourced organically. Also, an increase in the number of organized retailing outlets offering organically-sourced poke foods and regular launches of such food products are positive factors that will drive the market during the forecast period.
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According to Technavio analysts, one of the key factors contributing to the growth of the global poke foods market is the health benefits of poke foods:
Global poke foods market: Health benefits of poke foods
Health benefits are among the major reasons for the growth in demand and consumption of poke foods. As they are significantly high in nutrient content such as omega-3 fatty acids and vitamin A, the demand for poke foods has risen in major regions of the world. Some of the advantages include enhancement of cardiovascular health, improvement in blood circulation, and promotion of weight loss. Therefore, with such advantages, the market is expected to witness a positive outlook during the forecast period.
According to a senior analyst at Technavio for research on food, "To match the rising demand for poke foods, the number of vendors offering poke foods products in various regions of the world has increased significantly since 2012. The market in the US has witnessed the entry of a considerable number of vendors. New vendors have also entered the market in countries such as the UK Australia. Canada, Germany, and Singapore. For instance, in September 2018, Pokeworks, a US-based company, signed a new master franchise agreement to expand its presence in the Mexican cities of San Luis Potosi, Monterrey, Ciudad de Mexico, and Guadalajara."
Global poke foods market: Segmentation analysis
The global poke foods market research report provides market segmentation by product (varieties of tuna, and other species), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2018, accounting for over 78% share, followed by the EMEA and APAC respectively. However, during the forecast period, the EMEA region is expected to register the highest incremental growth, followed by the APAC region.
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Five Forces Analysis
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