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Poke food or Niʻihau, is a traditional Hawaiian dish that utilizes diced raw fish, either consumed as an appetizer or in the main course. Traditionally poke is made using tuna fish varieties which can also be substituted with shellfish or octopus. The poke food is rich in omega-3 fatty acids and protein; this benefit will fuel its demand among the health conscious consumers. Additionally, the growing trend of customizing quick and healthy fusion-flavoured food would further drive its market growth.
The rising trend of creating innovative poke bowl using unique flavours and ingredients is one of the factors that is driving its market growth. Various fast food chains and restaurants are utilizing lobster and caviars instead of raw fish. For instance, In January 2018, Hippy Fish Poke, London introduced antioxidant-rich, organic poached chicken poke served with detoxifying black rice. Thus, these innovations would withdraw consumers’ attention and therefore aid in its growth.
The increasing demand for grab-and-go food owing to the fast-paced lifestyle of the consumers has primarily driven the poke food market growth. The consumers are always looking for healthy and convenient foods that they can feel good about eating. Along with this, the poke food is minimally processed which makes it a healthy snack alternative to fast foods, this has contributed in fuelling its market growth.
The rising popularity of poke bowl has led to its robust demand; which in turn is putting a strain on the declining global fish stocks, especially tuna. Thus, the decline in fish stock would impact the availability of raw fish thereby leading to hike in its price. Thus, the high demand and less supply would increase the poke bowl price and this will further hamper the growth of poke food market.
Key Market Driver -
Rising Demand for Grab-and-Go Foods
Key Market Restraint -
High Price of the Poke Bowl
The key companies operating in the global poke food market are, Western United Fish, Aloha Poke, Sweet fin Poke, Pokeworks, AnnaSea Foods Group, Island Poke, THE POKE COMPANY, FRESHFIN POKÉ, Ahi Pokéand ISLAND FIN POKE, Co.
The global poke food market is segmented by type, and end-use application. The tuna type segment is accounted for holding the major market share as it is the traditional variant of raw fish incorporated in the poke. Along with this, the high nutritional content in tuna makes the poke a healthy dish.
The commercial end-use application is holding the major share in the market owing to the rising dining out trend. Moreover, the ready-to-eat poke saves the cooking time and has led to the consumers increased reliability on the commercial sector.
North America is expected to witness a robust growth in the market as the consumers are increasingly demanding for innovative and healthy food. The ease of convenience offered by the poke bowl and significant rise in the number of restaurants serving poke has driven its regional market.
Europe is anticipated to observe a significant growth due to the rising demand of consumers for convenience food products. Further, according to Eurostat the employment rate in Europe increased by 6.3% in 2019, which has led to rise in the working population. The employment rate also depicts that the large number of people are involved in working and thus, less time spent on cooking. All these factors drive the growth of European poke food market.
Asia Pacific is expected to exhibit significant growth in the market due to the rise in acceptance of cross-culture food trend. Along with this, the increase in popularity and consumption of seafood due to its health benefits has boosted its regional market growth.
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