SeafoodSource is closely following the plant and cell-based seafood alternatives by compiling a weekly round-up of the sector updates:
- On 14 February, London, U.K.-based supermarket chain Lidl said it plans to gradually decrease its meat product selection. The discount retailer cited environmental and food-security as its primary reasons for its decision, according to Plant Based News. Lidl Chief Buyer Christoph Graf told German publication Lebensmittelzeitung that there is “no alternative” to Lidl’s meat reduction. “We need a more conscious diet all over the world to feed ourselves within our planetary limits,” Graf said.
- Demand for plant-based alternative pet diets is increasing, according to Nestle Purina North America. And the company has begun to experiment with creating dog food made from Asian carp (copi) fish. The St. Louis, Missouri, U.S.A.-based company pledged to pack all its pet food using reusable or recyclable materials by 2025.
- Rockland, Delaware, U.S.A-based The Ish Food company announced it has raised more than USD 5 million (EUR 4 million) in its seed funding round that will help it expand its plant-based seafood offerings. "The plant-based market has seen incredible growth over the past couple of years, but there is a massive lack of seafood substitutes," The Iish Company CEO and founder Bernard David said. "Currently, two-thirds of seafood is consumed away from home, which is why we've focused on providing healthy and sustainable plant-based seafood alternatives to diversify plant-based offerings for consumers initially at restaurants and universities."
- On 15 February, IMARC Group announced the release of its latest report, "Europe Plant-Based Seafood Market: Global Industry Trends, Share, Size Growth, Opportunity and Forecast 2022-2027." The report projects Europe's plant-based seafood market is expected to reach USD 31.8 million (EUR 29 million) in value by 2027, with a CAGR of 30.46 percent through 2027.
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