SeafoodSource is closely following the plant-based and cell-based seafood alternatives market by compiling a regular round-up of updates from the sector.
- Rehovot, Israel-based Oshi (formerly Plantish), and Sacramento, California, U.S.A-based The Better Meat Co. have formed a joint venture, Vegconomist reported on 27 July.
The partnership will seek to develop mycoprotein-based salmon fillets through the the combination of Oshi's 3-D technologies and The Better Meat Co.'s patented mycoprotein fermentation process.
The partnership is backed by a USD 1 million (EUR 906,000) grant from the Binational Industrial Research and Development (BIRD) Foundation designed boost industrial research and development efforts beneficial to both countries.
“Humanity only stopped harpooning whales once there were better alternatives to whale oil,” Better Meat Co-Founder Joanna Bromley said. “Our goal is to create better alternatives to salmon with our friends at Oshi so we can leave more fish where they belong: in the water.”
- On 27 July, alternative seafood company Steakholder Foods has completed a registered direct offering and concurrent private placement of unregistered warrants valued at USD 6 million (EUR 5 million), the company said in a release.
The Rehovot, Israel-based cultivated meat and seafood company signed a memorandum of agreement for strategic cooperation with a Gulf Cooperation Council (GCC)-based governmental body.
- Plant-based seafood is now available for home delivery.
On 18 July, Mind Blown by The Plant-Based Seafood Company announced its partnership with Hungryroot food delivery service. Customers across the U.S. are now able to order the Mind Blown Plant-Based Crab Cakes conveniently delivered at home.
"We are extremely proud to announce our nationwide launch on Hungryroot as we continue to expand the reach of our award-winning plant-based seafood items to more customers," Mind Blown CEO and Co-Founder Monica Talbert said in a release. “After experiencing tremendous success in the East and Midwest markets, we are thrilled to bring the delicious and innovative taste of our Plant-Based Crab Cakes to all Hungryroot's customers across the country. This partnership is a testament to our commitment to providing high-quality, plant-based seafood options to more people, and we are excited to see even more individuals enjoy the incredible flavors and convenience Mind Blown has to offer."
- The alternative protein market in Asia is likely to undergo significant growth, according to the independent think tank Food Frontier.
It's "Alternative Proteins and Asia Report" noted increasing demand for alternative seafood products in Asia, and particularly in China, Singapore, South Korea, Thailand, and Japan. The report provides actionable insights for global companies seeking entry or expansion in these markets.
"Health, environmental, and food security concerns are behind the growing regional demand for alternative proteins," Food Frontier Executive Director Simon Eassom said. "More people are becoming interested in a flexitarian diet – one where they regularly swap conventional animal meat for new options like plant-based meat, which provides a familiar eating experience without compromising on nutritional value."
The report estimated the Asian alternative protein market will reach USD 13.6 billion (EUR 12.4 billion) in value by 2027, up from its current baseline of USD 4.3 billion (EUR 3.9 billion)
Photo courtesy of Steakholder Foods
