Plant-Based Seafood: The Wave of the Future

The oceans of our world are so vast and full of life that they appear indestructible. However, this is not as it appears. Pollution, plastics, climate change, and deep-sea drilling all contribute to the destruction of our oceans, and one of the greatest threats to ocean life is overfishing. Commercial fishing can disrupt the fragile balance of the marine eco-system by destroying ocean habitats, depreciating the water quality, being a major source of plastic pollution, and incidentally catching non-targeted species (bycatch).

Plant-based proteins continue to soar in sales as vegetarians, vegans, flexitarians, and just curious consumers are anxious to try new foods that are plant-based seafood.

Plant-based seafood is available online and in grocery stores. Included are vegan tuna, salmon sashimi, battered vegan calamari and vegan shrimp, fish filets, crab cakes, caviar, and scallops. Some products such as a breaded calamari and shrimp are available in flavors. 4 healthy, sustainable, craveable, and tastes “like the real thing.” One of these most recent plant-based protein foods entering the mix is seafood.

The main reason consumers are attracted to plantbased seafood is sustainability, concern for the environment, and overfishing of certain species. They already know seafood is healthy. Today restaurant and manufacturing chefs are using fruits, vegetables, and other new ingredients that replicate the flavor and texture of seafood. Ingredients like algae, pea and lentil proteins, seaweed, tomatoes, soy, and chickpea flour all nutrient-dense, give This task of replicating seafood is not an easy one.

Plant-based beef and chicken are each one animal protein. Seafood replication includes unlimited varieties of finfish and shellfish, all used in different preparations both raw and cooked. Manufacturers must achieve different textures, colors, flavors, and palatability for chefs to be able to develop menu items that excite consumers. As with any food product, good flavor is a must. positive reinforcement to the health benefits of plant-based seafood.

Seafood suppliers are also providing plant-based alternatives to their repertoire broadening their range of available products. This appeals to the next generation of protein consumers and enhances the supplier’s sustainability and social responsibility stories. Plant-based seafood is available online and in grocery stores. Included are vegan tuna, salmon sashimi, battered vegan calamari and vegan shrimp, fish filets, crab cakes, caviar, and scallops. Some products such as a breaded calamari and shrimp are available in flavors.

This task of replicating seafood is not an easy one. Plant-based beef and chicken are each one animal protein. Seafood replication includes unlimited varieties of finfish and shellfish, all used in different preparations both raw and cooked. Manufacturers must achieve different textures, colors, flavors, and palatability for chefs to be able to develop menu items that excite consumers. As with any food product, good flavor is a must.

FACTS: Here is what you need to know

In the first half of 2021, $116 million has been invested in the seafood space, exceeding 2020’s total of $90 million. The Good Food Institute About 5 billion pounds of seafood are consumed every year in the United States with more than 90% of it harvested, farmed, or processed in countries that lack rigorous seafood management laws. Molly Masterton, fisheries director Natural Resources Defense Council “Approximately 90% of shrimp in the US are imported and more than half come from shrimp farms which contaminate and pollute our oceans,” Michelle Wolf, co-founder of New Wave Foods A 2018 study found crustacean farming had a higher carbon footprint than the production of both cheese and pork.

Innovation in the vegan seafood market is well underway. Investments in the sector have been steadily increasing since 2017, which saw $4 million invested in the category. In 2018, this increased to $16.7 million, 2019 saw $41 million in investments, while 2020 had more than $35 million invested in the vegan seafood market. Good Food Institute. The retail seafood category is worth $15b, with finfish accounting for ~50%, and shellfish for ~ 1/3. Within finfish, salmon and tuna comprise the most volume at over 60% of dollar sales. Shrimp makes up most shellfish sales, followed by crab. Good Food Institute.

THE PROS: What they are saying

“So many manufactures are getting into the game, and a tidal wave of capital is flooding the industry. As we saw with plant-based meats, everyone is jockeying for a pole position because they recognize that it’s a growth area with consumer interest.” Mike Kostyo, trendologist, Datassential, Flavor p. 76 “The demand for plant-based items has grown tremendously over the past 18 months, as consumers are looking for healthier and more sustainable menu options. Plant-based seafood is the next untapped segment. By creating food that has the flavor of traditional fish, a restaurant can appeal to a broader market. Operators can continue to expand their guest base, generate more frequent visits, and increase revenue.” Mark Moeller, restaurant consultant, The Recipe of Success

“It is critically important that as an industry we continue to find innovative solutions to decouple growth with environmental impact. Providing greattasting alternative ways for consumers to enjoy oceaninspired foods is a key pillar of our long-term commitment to ocean health. Jan Tharp, President & CEO, Bumble Bee Foods “I tasted it for the first time in a cafe in Palo Alto, and I had no idea I was eating plant-based shrimp.” - Former Tyson Ventures CFO Tom Mastrobuoni

IN CONCLUSION

Plant-based seafood alternatives play a crucial role in preserving the environment and lessening the effects of commercial and farm fishing. Eating plant-based foods even once a week can build up resulting in positive impacts on our health and the environment. In recent years options for variety and quality of plant-based seafood has greatly improved to now replacing sushi-grade fish products and other popular dishes. Whether health reasons such as allergies and heart issues, economic reasons, or ethical-Plant-based seafood is the “wave of the future”