Givaudan has hailed plant-based fish products as “the next big thing” in alternative proteins. The Swiss flavor giant has unveiled its latest research paper conducted in collaboration with the University of California, Berkeley, US, highlighting the opportunities and challenges for manufacturers and future market development. While the same macro trends are driving the sector for meat substitutes, the interest in fish and shellfish alternatives reflects some of the fishing and shellfish industry’s specific challenges, explains Givaudan.
Consumer interest in plant-based fish alternatives is poised for a rapid rise as seen in other alternative protein products.
Key ingredient players, such as Hydrosol and food giants including Nestlé, are stepping into the space, with significant progress expected to be made next year.
“Our paper explores the latest industry developments and identifies the biggest opportunities, as well as the innovations that will be game-changing for the industry in the coming years,” says Sylvain Jouet, global product manager for meat substitutes, fish and seafood at Givaudan.
The paper also looks at taste, texture, color, proteins, nutritional content and processing, and how these must be addressed holistically by manufacturers when developing plant-based fish products.
“Givaudan has collaborated with the brightest and best minds from across industry to help tackle these products’ complex challenges,” adds Jouet.
“We’re always looking for new ways to create great tasting, more complete future-facing food experiences. This research complements our extensive knowledge in alternative proteins, further guiding our innovation and product portfolio in this space and assuring the development of plant-based products that consumers love.”
Plant-based swims ahead
The rapid onset of climate change was already pushing food security and sustainability to the fore, and now the COVID-19 pandemic increases their significance. Dietary habits geared toward health, immunity-boosting and wellness are top of mind, while planetary and ocean health are key sustainability issues that are increasingly important to consumers.
The Plant-Based Revolution – the second top trend from Innova Market Insights for 2020 – goes from strength to strength, influencing NPD across the board.
In April, it spoke with innovators in cell- and plant-based seafood, as the pandemic shines a light on new ways of consuming both fish and meat, in a way which is deemed better for the planet and provides a flexible alternative during times of crisis.
The cultured and alternative seafood space has attracted significant investments in recent times and technologies show no sign of slowing down. From pioneering technology that grows shrimp meat in a laboratory to fish made from fungus – technologies are breaching new realms of possibility.
Following promising R&D results, investors are looking to fund more plant-based seafood innovation. “2020 has already been a banner year for companies producing both plant-based and cell-based seafood products in terms of investments,” said Lou Cooperhouse of BlueNalu, who recently closed on a US$20 million Series A round of financing for cell-based seafood.
Meanwhile, Gathered Foods, the parent company of the Good Catch brand, recently closed a US$32 million Series B round for its plant-based products.
