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Plant-based fish is the new plant-based meat

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Alternative fish products can offer an environmentally friendly solution to overfishing, the negative impacts of fish farming, such as antibiotics, and problems such as mercury contamination.

EMIKO TERAZONO: ‘This year, investors have poured money into plant-based meat, with Beyond Meat now worth more than $9bn after its IPO in May and Impossible Foods valued at $2bn after raising $300m in the same month. But “there was an absolute gap in fish”, said Mr Chris Kerr, who co-founded New Crop Capital in late 2015 to invest in food start-ups that could disrupt industrial animal farming…

Chris Kerr spent nearly two decades investing in vegan food without finding a convincing plant-based alternative to fish… So in early 2016 he launched a new company, Good Catch, to create a plant-based tuna from 6 different legumes, including peas and soyabeans. Part of a tight knit band of vegan tastemakers, entrepreneurs and investors in the US, he teamed up with vegan chefs Derek Sarno and his brother Chad. 

Earlier this year, Good Catch’s alternative product began to be stocked on supermarket shelves in the US alongside cans of real tuna and the company is now in talks to enter the UK with Tesco, which has hired Mr Sarno as “executive director of plant-based innovation”. 

It is a nascent market. Annual sales of fish substitutes in the US are only around $10m compared with $800m for plant-based meat, according to Good Food Institute, an alternative protein advisory and lobby group… Alternative fish products can offer an environmentally friendly solution to overfishing, the negative impacts of fish farming, such as sea lice and antibiotics, and problems such as mercury contamination…

Mr Kerr pointed out that the market for fish elsewhere in the world was larger than in the US and that the total global seafood market is worth roughly $500bn a year, making it an enticing target for disruption. “From wraps to chowders to pastas, seafood makes its way into a lot of things and just about every culture has it. We have a lot of entry points around the globe,” said Mr Kerr’. SOURCE…

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