Poke Foods Market size is set to grow by USD 1.03 billion from 2024-2028, Health benefits of poke foods boost the market, Technavio

NEW YORK, Aug. 9, 2024 /PRNewswire/ -- The global poke foods market size is estimated to grow by USD 1.03 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 9.45% during the forecast period. Health benefits of poke foods is driving market growth, with a trend towards rising trend of organic seafood and poke foods. However, rising prices of tuna poses a challenge. Key market players include Acme Smoked Fish Holding Corp., Ahipoki Bowl, ALOHA POKE Co., Annasea Foods Group, FreshFin Poke, HARTFORD POKE Co., HEALTHY POKE SL, ia poke, Island Fin Poke Co., MTY Food Group Inc., OnoPoke Food Shop, Poke Me Group Pty Ltd., POKED, Pokeworks, Red Poke, Sweetfin, THEFISHBOWL, The Poke Co. And wings, The Poke Lab, and White Rabbit Projects.

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Market Driver

The organic seafood market has experienced significant growth in regions such as North America and Western Europe. This trend is driven by the increasing demand for seafood manufactured from naturally sourced ingredients, free from preservatives. Among organic seafood, finfish, shellfish, shrimps, and scallops are popular choices. In the poke foods market, vendors have responded by offering poke bowls made from organically sourced raw tuna and other fish species. The popularity of poke bowls is further boosted by their use of organically sourced ingredients like sesame oil, sea salt, and limu seaweed. The rise of organized retail outlets selling organically sourced poke foods and continuous product launches are positive factors fueling the global poke foods market's growth. 

Poke food, the popular Hawaiian dish made with raw fish, vegetables, and sauces, is trending in the food industry. Ahi tuna and marinated octopus are common poke ingredients, with aquaculture harvests helping to meet demand. However, bacteria and parasites are concerns for poke food businesses, requiring strict food safety measures. Overfishing, climate change, and marine pollution threaten the tuna segment, driving innovation in the commercial poke market. Gloria Food and Pokeworks lead the poke food trend, offering nutritious options rich in omega-3 fatty acids and proteins. Vegetables like avocado, carrots, garlic, and onion add flavor and nutritional value. The vegan tuna alternative is gaining traction in the plant-based segment. The e-commerce sector and web penetration are boosting poke food sales, making it an appetizing business opportunity. Fish stock sustainability is crucial, as is addressing consumer concerns about bacteria and parasites. 

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Market Challenges

• The poke food market relies heavily on tuna as a primary ingredient. Any fluctuations in tuna prices significantly impact the end-product costs. Due to the COVID-19 pandemic, tuna fisheries in Thailand, Ecuador (skipjack tuna), and Spain (yellowfin tuna) face challenges meeting demand due to prevention measures and low catch volumes. This supply-demand imbalance has resulted in increased tuna prices in 2020. The instability in tuna fish prices poses a significant challenge to the global poke food market. Higher tuna prices may deter customers in developing countries, potentially hindering market growth during the forecast period.
• The poke food market is experiencing significant growth, particularly in the areas of import duties for shellfish and salmon, octopus, and various tuna fish varieties. Household segment and restaurants/hotels are key consumers, with the youth market also showing interest in ready-to-eat poke and unique flavors. Diced raw fish, such as tuna, is a protein-rich, health-conscious choice for consumers. Innovative poke bowls with antioxidant-rich black rice and unique ingredients like lobster and caviar are gaining popularity. Brands like Hippy Fish Poke, Aloha Poke, and Sweet Fin Poke are leading the trend. The market includes various tuna types, with nutritional content and health benefits being key selling points. This cross-culture food trend is expanding, with e-commerce penetration and organic seafood options. Marine species like salmon, octopus, and tuna offer health benefits such as Vitamin A and detoxifying properties. The fast-paced lifestyle demands minimally processed, healthy snack alternatives, making poke a grab-and-go food choice. The poke food market continues to evolve, with prices ranging from premium to affordable options.

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Segment Overview 

This poke foods market report extensively covers market segmentation by 

1. Distribution Channel
• 1.1 Offline
• 1.2 Online
2. Product 
• 2.1 Varieties of tuna
• 2.2 Other species
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

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Research Analysis

Poke food, a Hawaiian dish celebrated for its raw fish appetizer, has gained significant popularity due to its nutritious contents and unique flavors. The main ingredient, diced raw fish, is rich in Omega-3 fatty acids and proteins, making it a favorite among health-conscious consumers. The Tuna segment dominates the commercial poke food market, with various tuna fish varieties such as Ahi tuna being the most sought-after. Innovative poke bowls often include lobster, marinated octopus, and vegetables like avocado, carrots, and garlic. However, it's essential to ensure the fish is sourced responsibly to avoid bacteria and parasites. Poke food businesses rely on Aquaculture harvests and sustainable fishing practices to meet the growing demand. The poke food scene offers endless possibilities for flavor combinations and ingredient pairings, making it a delicious and nutritious choice for any meal.

Market Research Overview

Poke food, a Hawaiian dish celebrated for its raw fish appetizer, has gained global popularity due to its nutritive contents and unique flavors. Rich in Omega-3 fatty acids and proteins, the Tuna segment dominates the Commercial segment. Poke bowls, featuring diced raw fish, have evolved into main courses with various tuna fish varieties, shellfish like salmon, octopus, and innovative poke bowls with plant-based tuna for vegan diets. The poke food market caters to various sectors, including Household and Restaurants/Hotels, appealing to health-conscious consumers and the youth. With the rise of e-commerce, poke food businesses have penetrated this sector, offering ready-to-eat poke and grab-and-go food for fast-paced lifestyles. Poke cuisine boasts a cross-culture food trend, incorporating antioxidant-rich ingredients like black rice and detoxifying vegetables. Ingredients like avocado, carrots, garlic, and onion add texture and taste. However, concerns over bacteria and parasites in fish stocks have led to debates on import duties and overfishing, climate change, and marine pollution. Key players like Pokeworks, Hippy Fish Poke, Aloha Poke, Sweet Fin Poke, and AnnaSea Foods Group innovate with unique flavors and nutritional content, while companies like Gloria Food offer organic seafood and marine species. The poke food market continues to grow, providing a healthy snack alternative to traditional fast food.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Distribution Channel
• Offline
• Online
• Product
• Varieties Of Tuna
• Other Species
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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