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The Poke Foods Market size is projected to increase by USD 1.04 billion and the market size is estimated to grow at a CAGR of 9.45% between 2023 and 2028. The market is experiencing significant expansion, driven by several key factors. Firstly, the recognition of poke foods as nutritious and healthful offerings is fueling consumer interest. Rich in protein, omega-3 fatty acids, and various vitamins, these dishes cater to the growing demand for wholesome and convenient meal options. Secondly, the emergence of a multitude of new vendors entering the market is contributing to its growth. These new entrants bring innovation and diversity, offering unique twists on traditional poke recipes and catering to various dietary preferences. Lastly, the high penetration of organized retailers, including supermarkets and food courts, is providing increased visibility and accessibility to poke foods. This expansion into established retail channels is making these dishes more accessible to a wider audience, thereby driving market growth.
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The market encompasses a diverse array of Hawaiian dishes, predominantly featuring raw fish, octopus, and shellfish, rich in omega-3 fatty acids and proteins. With an impressive annual growth rate, particularly in the tuna segment, the commercial aspect of the market witnesses significant expansion. Growth factors like nutritive contents and flavors drive consumer preferences, fostering new product launches, including plant-based tuna variants catering to the growing demand for vegan and grab-and-go diets. Amidst increasing online retail activities and supply chain oscillations, segmentation across household and commercial segments emerges crucial, navigating challenges like import duties within the dynamic e-commerce sector.
The market is experiencing exponential growth, fueled by the rising popularity of Hawaiian dishes worldwide. Poke bowls, featuring raw fish like tuna and salmon, alongside octopus and shellfish, offer abundant omega-3 fatty acids and proteins. With an annual growth rate surging, both commercial and household segments are witnessing remarkable expansion. Health-conscious consumers opt for these bowls as a grab-and-go diet, constituting healthy snacks. Additionally, new product launches, including plant-based tuna options catering to the vegan diet, are gaining traction. Despite challenges like import duties and supply chain oscillations, online retail activities, especially in the e-commerce sector, are driving significant market segmentation.
One of the key factors driving growth in the market is the health benefits of poke foods. Poke food is significantly high in nutrient content, such as omega-3 fatty acids and vitamin A, and demand for poke foods has grown in major regions of the world. Compared to other meat types, raw and diced meat used in the preparation of poke bowls is low in fat content, making it an essential source of protein, which could contribute to the enhancement of cardiovascular health.
Furthermore, poke food contains a significant amount of iron and vitamin B, which aid in producing red blood cells, thereby improving blood circulation. Moreover, poke food contains various nutrients, promoting weight loss. Such effective health benefits will propel the market growth during the forecast period.
The market is being driven by the rising trend of organic seafood and poke foods. Demand for organic seafood is increasing, especially in North America and Western Europe, as it is made from natural ingredients without preservatives and has lower calorie and gluten content. This growth is beneficial for poke food market players, as they predominantly use organically sourced raw products.
Poke bowls, which feature various organically sourced ingredients like sesame oil, sea salt, and limu seaweed, are gaining rapid popularity. The market is further fueled by the increasing number of organized retail outlets offering organically sourced foods and regular product launches in this category. Such factors will propel the market growth during the forecast period.
The increasing prices of tuna present a significant challenge for the global market. Tuna is a key ingredient in poke food, and price fluctuations impact the final product's cost. COVID-19 measures have led to reduced catches and difficulty meeting demand, causing higher prices for tuna in key hubs like Thailand, Ecuador, and Spain.
Such price volatility poses challenges, as it can raise food prices and deter customers, particularly in developing countries. As a result, rising tuna prices are expected to hinder the growth of the global market during the forecast period.
In the distribution channel segment of the market, various channels cater to the diverse consumer base seeking this popular Hawaiian dish. The market encompasses both commercial and household segments, each contributing to the overall growth factors driving the industry forward. Within the commercial segment, establishments specialize in offering these dishes tailored to consumer preferences. Tuna, a staple ingredient in poke bowls, occupies a prominent position in this segment, reflecting the significance of the tuna segment in the market. These establishments prioritize ingredients that enhance the nutritive contents and flavors of their offerings, catering to consumers seeking healthy snacks and following a grab-and-go diet or vegan lifestyle. In contrast, the household segment represents consumers who prepare poke bowls at home, either from scratch or using pre-packaged ingredients. This segment underscores its growing popularity as a household dish, driven by its appeal as a nutritious and flavorful meal option. Overall, the distribution channels in the market cater to a diverse range of consumers, offering convenient access to this Hawaiian delicacy and reflecting evolving dietary preferences and lifestyle choices.
The market share growth by the offline segment will be significant during the forecast period. The offline distribution channel generates revenue from the sales of products through channels such as hypermarkets, supermarkets, clubhouse stores, department stores, and independent retailers. Retailers are introducing new business and retail strategies, such as better pricing strategies and more comprehensive assortments, to survive in the competition.
The offline segment was valued at USD 1.02 billion in 2018 and continued to grow until 2022.
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Retailers use attractive displays and expand store operations to boost offline sales. Growing global retail channels increase customer familiarity with frozen seafood, leading to higher sales. Better pricing strategies also contribute to market growth. Online sales are increasing due to changing shopping preferences. Key e-retailers like Amazon and Alibaba Group offer poke foods, and retailers like Walmart and Costco have introduced their e-commerce portals. High internet penetration and preference for online shopping further drive market growth during the forecast period.
North America is estimated to contribute 69% to the growth of the global market during the forecast period
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The US, Canada, and Mexico are the key markets in North America with significant potential for these products amid strong demand for raw and organic seafood. Tuna imports from these countries have increased over the last five years. Pokeworks, Sweetfin, Acme Smoked Fish, and Western United Fish are some of the key players operating in the North American market.
Moreover, due to the growing awareness about the health benefits of frozen fish and seafood, their demand has been rising in North America. To promote the consumption of different varieties of fish in various forms, regional consumers are prompting government authorities, such as the FDA. The influx of new vendors and growing consumption of raw tuna fish and the rising consumption of seafood, including fish and seafood products will contribute to the demand in the regional market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
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The market experiences steady growth driven by the popularity of the Hawaiian dish like poke, featuring raw fish, octopus, and shellfish as primary proteins. The tuna segment particularly contributes to this growth, catering to both commercial segment and household segment. Growth factors include the nutritive contents and flavors of poke, aligning with the grab-and-go diet trend and demand for healthy snacks. Moreover, new product launches, including plant-based tuna options for a vegan diet, further diversify the market. The rise of online retail activities, especially in the e-commerce sector, facilitates the annual growth rate and market expansion despite challenges like import duties and supply chain oscillations, ensuring a vibrant future for the poke food industry.
The market showcases a surge in demand for quick and healthy fusion-flavoured food options like innovative poke bowl with unique flavours. Established fast food chains and emerging brands like Hippy Fish Poke in London offer a variety of choices, including lobster and caviars. Consumers are drawn to antioxidant-rich and organic options such as organic poached chicken poke and detoxifying black rice. With a focus on grab-and-go food convenience to suit today's fast-paced lifestyle, these bowls serve as a healthy dish and healthy snack alternative. However, challenges persist due to declining global fish stocks leading to a price hike and less supply, impacting the poke bowl price. Despite this, the market continues to grow, capturing a major market share with its nutritional content and catering to the dining out trend.
The market is experiencing a surge in popularity, driven by the growing trend of cross-culture food and the preference of health-conscious consumers for minimally processed and ready-to-eat poke options. Poke, originating from Hawaii, is characterized by diced raw fish paired with various flavorful ingredients. One challenge faced by this market is the low tuna fish stock due to overfishing and climate change, highlighting the importance of sustainable sourcing. However, aquaculture harvests are helping meet demand sustainably. Restaurants, hotels, and e-commerce platforms are key players in promoting Poke cuisine, offering unique flavors and tuna fish varieties to cater to diverse tastes. Sweet fin Poke and Poke food are among the popular varieties, appealing to a wide range of consumers, including youth and health-conscious individuals. Despite the rising popularity of Poke food businesses, concerns remain about bacteria and parasites in raw fish dishes. Proper handling and hygiene practices are crucial to ensure food safety. The market landscape depends on health conscious consumers, Marinated octopus, Vegetables, Avocado, and Carrots. To combat marine pollution and support sustainable practices, the market is witnessing initiatives such as sourcing from responsibly managed fisheries and promoting marine species diversity. In the era of web penetration, online platforms like Gloria Food play a significant role in expanding the reach of Poke foods, offering convenient ordering options for consumers seeking a taste of this delicious and nutritious cuisine.
Market Scope |
|
Report Coverage |
Details |
Page number |
160 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.45% |
Market growth 2024-2028 |
USD 1.04 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
8.42 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 69% |
Key countries |
US, Canada, Germany, UK, and Australia |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
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 |
Market dynamics |
Parent market analysis, market research and growth, market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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