Rising concerns over food sustainability will see plant-based alternatives to fish becoming a massive trend in the coming years. Exotic ingredients such as banana blossom and heart of palm will grow alongside more familiar ingredients such as eggplant and carrot as potential alternatives to fish. Read this whitepaper to know why plant-based fish will be the next trend in plant-based foods.
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Is plant-based fish the future of seafood?
1. The case in favor of plant-based ๏ฌsh is
getting stronger and we can expect
seafood to be the next iteration of the
plant-based food revolution.
EXPLORER SERIES
IS
PLANT-BASED
FISH THE
FUTURE OF
SEAFOOD?
IS
PLANT-BASED
FISH THE
FUTURE OF
SEAFOOD?
2. SUMMARY
Rising concerns over food
sustainability will see plant-
based alternatives to ๏ฌsh
becoming a massive trend
in the coming years.
Explorer Series: Is plant-based ๏ฌsh the future of seafood? 01
Plant-based ingredients that
double up as ๏ฌsh alternatives
will also get a signi๏ฌcant boost
as manufacturers scramble to
get the taste and texture of their
products just right.
Exotic ingredients such as
banana blossom and heart of
palm will grow alongside more
familiar ingredients such as
eggplant and carrot as potential
alternatives to ๏ฌsh.
3. SOMETHING
FISHY
SOMETHING
FISHY
Chew on this for a moment: tuna, one of the
most popular types of ๏ฌsh in the US, is ๏ฌnding
fewer takers. The average quantity of canned
tuna consumed per person fell by more than
41% between 1986 and 2016 from 3.6
pounds to 2.1 pounds, according to stats from
the US Department of Agriculture.
There have been several explanations for this
drop โ the strong smell that can make you an
instant of๏ฌce outcast, concerns about
mercury and other contaminants, anger
about the harm to dolphins, falling supply. Oh,
and Millennials. Who donโt even own can
openers, according to one scandalized tuna
company executive.
In their defense, tuna brands have been
attempting to tackle these issues, highlighting
their sustainable ๏ฌshing practices and
switching from cans to pouches. But this
hasnโt been enough to revive tuna sales. It
wonโt be long before other ๏ฌsh species face
similar problems.
However, novel alternatives to tuna and
seafood, in general, maybe on the horizon
that addresses many of these very
complaints. And they have nothing to do with
the sea. Weโre talking about plant-based ๏ฌsh,
which is gearing up to be the next iteration of
the overall plant-based food revolution.
*
* https://www.foodandwine.com/news/tuna-millennials-cans
Explorer Series: Is plant-based ๏ฌsh the future of seafood? 02
41%
The average quantity of
canned tuna consumed per
person fell by more than 41%
between 1986 and 2016 from
3.6 pounds to 2.1 pounds
4. 1 https://www.marketwatch.com/story/meaty-foods-like-chicken-
nuggets-and-meatballs-could-soon-be-cloned-2019-02-28
2 https://www.fastcompany.com/90347902/can-plant-based-meat-
grow-from-a-1-billion-industry-to-a-20-billion-industry
SUSTAINABILITY IS
IMPORTANT TO
CONSUMERS
SUSTAINABILITY IS
IMPORTANT TO
CONSUMERS
To understand this, letโs take stock of where things are.
Since 2009, the plant-based meat industry
has received more than $2 billion in
investments, half of which was in 2007 and
2008 alone. Even veterans of the meat
industry are investing in plant-based food
companies or future-proo๏ฌng their
companies with their own meat-free
variants.
The sector grew by 17% in August 2018 to
over $3.7 billion in the US, according to a
report published by the Good Food
Institute (GFI), a non-pro๏ฌt that follows
this sector. Overall retail food sales, on the
other hand, grew only by 2%. In several
individual categories, plant-based versions
are outpacing animal-based versions.
The growth of plant-based alternative foods globally has been nothing short of phenomenal.
Plant-based milk and meat have gained quite a bit of acceptance in the last couple of years
and a number of other traditionally animal-derived categories are starting to play up their
alternatives with plant-based credentials.
The 2018 Summer Food & Drink Trends
report says that a third of all Americans,
and 37% of millennials, plan to buy more
plant-based products in the following year.
Explorer Series: Is plant-based ๏ฌsh the future of seafood? 03
37%
$3.7bn
$2bn
third of all Americans, and 37% of
millennials, plan to buy more
plant-based products
the sector grew by 17% in August
2018 to over $3.7 billion in the US
the plant-based meat industry has
received more than $2 billion in
investments
1
2
5. Products that were once considered the
mainstay of niche groups like vegetarians and
vegans are now being sought after by
consumers looking for healthier, ethical, and
more environmentally friendly choices. It
helps immensely that these foods taste a lot
better today than they did in the past, thanks
mainly to a wider range of ingredients
available for use.
Studies published over the years point to the
bene๏ฌts of reducing meat consumption on
the health of people and the planet. In fact,
the 2018 Food and Health Survey conducted
in the US found that sustainability of food is
becoming more and more important to
consumers. In 2018, 59% said it is important
to them that the food they buy or consume is
produced in a sustainable way versus 50%
who said the same in 2017.
3
4
WHAT DOES SUSTAINABILITY MEAN TO CONSUMERS?
Ranked important aspects of sustainable food production
Importance of sustainability in food
products purchased
Very Important Not very Important
Donโt know enough
Somewhat Important Not at all important
Neitherimpnorunimportant
Source: International Food Information Council Foundationโs 2018 Food and Health Survey
3 https://www.greenmatters.com/p/environmental-bene๏ฌts-plant-based-vegan-diet
4 https://foodinsight.org/wp-content/uploads/2018/05/2018-FHS-Report-FINAL.pdf
Explorer Series: Is plant-based ๏ฌsh the future of seafood? 04
Sustainability for consumers means reducing pesticides, an affordable food supply and
conserving natural habitats
HEALTHIER
ETHICAL
ENVIRONMENTALLY
FRIENDLY
HEALTHIER
ETHICAL
ENVIRONMENTALLY
FRIENDLY
CONSUMERS LOOKING FOR
FOOD CHOICES
59%said that the food they buy or
consume is produced in a
sustainable way
6. THE
ENVIRONMENTAL
CASE FOR
PLANT-BASED FISH
THE
ENVIRONMENTAL
CASE FOR
PLANT-BASED FISH
Sustainability and safety concerns will tip the
balance towards plant-based ๏ฌsh. People are
worried about ocean pollution and its impact
on sea life โ itโs hard not to be when we are
regularly exposed to heart-wrenching images
of marine animals choking on plastic waste.
MICROPLASTICS AND TOXINS
An estimated 8 million metric tons of plastic
are thrown into the ocean every year, of
which 236,000 tons are microplastics. These
minute bits of broken-down plastic are
slightly more insidious as they can be
ingested by marine animals and then work
their way up through the food chain. In
addition, sea animals are also exposed to
toxins from industrial ef๏ฌuents and runoff
from multiple smaller sources.
Explorer Series: Is plant-based ๏ฌsh the future of seafood? 05
5
5 https://www.earthday.org/2018/04/05/fact-sheet-plastics-in-the-ocean/#_ftnref1
7. OVERFISHING
Over๏ฌshing to keep up with the global
demand for seafood is affecting supplies
in rather drastic ways. A study published
in Science in 2016 predicts that seafood
could completely disappear by 2048 if
weโre not careful. Ocean biodiversity is
being depleted more rapidly than ever
before: ๏ฌsh stocks within biologically
sustainable levels have declined from
90% in 1974 to just under 67% in 2015,
according to a UN Food and Agriculture
2018 report.
6
7
AQUACULTURE
Fish farming, considered a solution to
over๏ฌshing, is projected to overtake wild-
caught ๏ฌsh by 2021. But this too comes
with its own problems. Take shrimp, for
example. It is the most popular seafood
across the world, but the need for arti๏ฌcial
shrimp ponds has resulted in the
destruction of an estimated 3 million
hectares of coastal wetlands, including
mangroves. Pesticides used in aquaculture
are also a cause for concern.
9
8
๏ฌsh stocks within
biologically sustainable
levels have declined from
90% in 1974 to just under
67% in 2015
Explorer Series: Is plant-based ๏ฌsh the future of seafood? 06
67%
90%
6 https://www.nationalgeographic.com/animals/2006/11/seafood-biodiversity/
7 http://www.fao.org/3/CA0191EN/CA0191EN.pdf
8 https://www.forbes.com/sites/michaelpellmanrowland/2017/07/24/seafood-sustainability-facts/#4781f8074bbf
9 https://theecologist.org/2016/nov/17/poverty-alleviation-shrimp-farms-destroy-mangrove-forest-grab-indigenous-land
8. THE
INGREDIENTS
THAT MAKE UP
FISH-LESS FISH
THE
INGREDIENTS
THAT MAKE UP
FISH-LESS FISH
An overview of ingredients currently being used
in the plant-based ๏ฌsh segment and those that
show potential as substitutes as this space grows.
Explorer Series: Is plant-based ๏ฌsh the future of seafood? 07
9. THE INGREDIENTS THAT MAKE UP FISH-LESS FISH
Vegan seafood, plant-based seafood, and
seafood alternatives are still very niche items
in the US, which is not entirely surprising
since only 3% of adult Americans said they
were vegan, according to a 2018 Gallup poll.
Hence, consumers going out of their way to
search for vegan ๏ฌsh is pretty limited. It is
more likely though that American consumers
can be encouraged to reduce their meat or
๏ฌsh consumption if alternatives offered up a
familiar eating experience.
At present, soy, lentils, and other plant
proteins top the list of ingredients used to
make ๏ฌsh substitutes, but this ๏ฌeld is being
expanded to familiar ingredients like
tomatoes, eggplant, and mushroom. There
are a whole host of lesser-known ingredients
as well that can be used to reduce the
dependency on a handful of base ingredients.
And consumers are likely to accept such
product enthusiastically if positioned
appropriately.
The most creative and inspirational ๏ฌsh-free
๏ฌsh dishes come from home cooks and food
bloggers, particularly those who are vegan,
and it looks like the professionals are paying
attention. Exotic (mainly Asian) ingredients
are also making their way into plant-based
๏ฌsh in the US, again being in๏ฌuenced by the
signi๏ฌcant Asian population in the country
and the network of Asian stores.
10
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10 https://news.gallup.com/poll/238328/snapshot-few-americans-vegetarian-vegan.aspx
10. Trend: Salmon Vs Carrot
25
50
75
100
Jun 2016Jun 2015Jun 2014 Jun 2017 Jun 2019Jun 2018
Salmon Region: US Source: Google TrendsCarrot
1. SALMON AND CARROT
Based on Google Trends results and
Spoonshot data, we can see a regular dip in
the searches for salmon, while carrot-related
searches show a spike at the same time.
Salmonโs biennial ๏ฌshing cycle makes its
supply limited, which could be a result of the
dips in searches. Vegan recipes online
highlight how carrots can make a very
convincing alternative to salmon. This opens
the doors for positioning carrot-based salmon
as a plant-based alternative during the lean
periods.
THE INGREDIENTS THAT MAKE UP FISH-LESS FISH
Explorer Series: Is plant-based ๏ฌsh the future of seafood? 09
regular dip in the searches for
salmon, while carrot-related
searches show a spike at the
same time
11. 2. ARTICHOKE AND CAULIFLOWER
Artichokes-based side dishes are popular
during Christmas, which could explain the
spikes around Christmas time for searches
related to the vegetable. Cauli๏ฌower has
been a fairly popular vegetable but has
become even more so with the rise of
consumers following a keto or low-carb diets.
A study by the US Department of
Agricultureโs Economic Research Service
found that cauli๏ฌower consumer per capita
had grown 61% between 2016 and 2017.
Both these vegetables are highlighted by
vegan home chefs as great alternatives to
๏ฌsh. The consumption patterns highlight the
possibility of linking plant-based options with
festive occasions or for those with food
restrictions for various reasons. The reasons
could be faith-based, due to allergies, or
changes in lifestyle, with these ingredients
offer a suitable alternative to ๏ฌsh.
Additionally Spoonshotโs data shows that
artichoke pairs well with algae protein with a
high novelty and ๏ฌavor and has been used in
PlantFusionโs Complete Meal product.11
THE INGREDIENTS THAT MAKE UP FISH-LESS FISH
Trend: Artichoke Vs Cauli๏ฌower
25
50
75
100
Jun 2016Jun 2015Jun 2014 Jun 2017 Jun 2019Jun 2018
Artichoke Region: US Source: Google TrendsCauli๏ฌower
Explorer Series: Is plant-based ๏ฌsh the future of seafood? 10
cauli๏ฌower consumer per
capita had grown 61%
between 2016 and 2017
61%
11 https://plantfusion.com/products/complete-meal?variant=1033825124365
12. 3. HEART OF PALM AND BANANA BLOSSOM
These are two vegetables that American
consumers are likely to see as exotic, even
though Hawaii is one of the top producers of
Heart of Palm (it uses much of what it produces,
pointing to the ingredientโs popularity).
THE INGREDIENTS THAT MAKE UP FISH-LESS FISH
Explorer Series: Is plant-based ๏ฌsh the future of seafood? 11
25
50
75
100
Jun 2016Jun 2015Jun 2014 Jun 2017 Jun 2019Jun 2018
Banana Blossom Region: US Source: Google TrendsHeart of palm
Banana Blossom Heart of palm
Trend: Banana Blossom Vs Heart of Palm
Compared breakdown by US sub-region
13. Banana blossom is a familiar ingredient in
South Asian and South East Asian cuisine and
it is enjoying quite a bit of popularity in the
UK at the moment, driven by the huge Asian
diaspora and the burgeoning plant-based food
trend. It wonโt be long before Americans take
to it either.
Spoonshotโs data validates that both the
vegetables are used as ๏ฌsh substitutes in
vegan or vegetarian recipes by home chefs in
rather innovative ways and due to the unique
textures and ๏ฌavor. A few recipes position
heart of palm as a calamari substitute due to
its ring-like shape when sliced, and banana
blossom as a great alternative to ๏ฌsh due to
its chunky, ๏ฌaky texture.
THE INGREDIENTS THAT MAKE UP FISH-LESS FISH
Explorer Series: Is plant-based ๏ฌsh the future of seafood? 12
Banana Blossom interest
by US sub-region
14. The guiding principle of plant-based ๏ฌsh
companies is to mimic the taste and
texture of the real thing, followed by
nutrition, so consumers donโt feel like
theyโre missing out. Fish and seafood is
the fourth largest protein source for
Americans. According to a study in 2017,
55% of US households said that high
protein was an important deciding factor
when doing their food shopping.
12
For plant-based ๏ฌsh manufacturers,
๏ฌnding ingredients that will tick most of
these boxes is something to keep in mind.
The top ingredient has been soy ๏ฌour or
soy protein derivatives, but peas and
chickpeas are not too far behind. While a
combination of different legumes can help
mimic ๏ฌshโs protein pro๏ฌle, konjac and
yam are also being used increasingly,
thanks to Asian in๏ฌuences.
Food service players are experimenting
with fresher ingredients since they donโt
have to often worry about their product
being shelf-stable. Weโve seen the use of a
range of common vegetables and fruit
being used to mimic raw ๏ฌsh, some of
which could potentially evolve into frozen
versions. These have the potential to be
positioned as ways of getting more
vegetables and fruit into the diet
THE INGREDIENTS THAT MAKE UP FISH-LESS FISH
Explorer Series: Is plant-based ๏ฌsh the future of seafood? 13
The path of ingredient evolution for plant-based ๏ฌsh being followed
could look like this:
Vitamin-rich
affordable and
familiar
Protein-heavy Vitamin-rich
exotic
12 https://www.nielsen.com/us/en/insights/article/2018/protein-consumers-want-it-but-
dont-understand-it/
15. TRENDSETTERSTRENDSETTERS
Now that weโve established that plant-
based ๏ฌsh is very much here to stay, letโs
take a look at a few companies that have
been making waves in this space. It should
come as no surprise that entrepreneurs are
taking the lead in offering up plant-based
alternatives to ๏ฌsh.
Based in California, Sophieโs Kitchen
introduced a range of vegan seafood,
including frozen crab cakes, ๏ฌsh ๏ฌllets,
shrimp, scallops, smoked salmon, and
canned tuna way back in 2011. Sophieโs
Kitchenโs canned plant-based tuna โ Vegan
Toona โ saw sales grow by 72% between
the ๏ฌrst quarter of 2017 and 2018.
SOPHIEโS KITCHEN
Source: https://www.agweb.com/article/theres-something-๏ฌshy-in-the-faux-
meat-aisle-blmg/
The ingredients used in these products are
konjac and yellow pea. Konjac or elephant
yam is a popular ingredient in Japanese
cooking.
Explorer Series: Is plant-based ๏ฌsh the future of seafood? 14
16. In late 2018, Atlantic Natural Foods, a
company that manufactures shelf-stable plant-
based proteins, launched its plant-based tuna
called Tuno, a product that had been ๏ฌve years
in the making.
Ingredients include soy ๏ฌour and seaweed.
In early 2019, Good Catch launched a vegan
albacore tuna that it had been working on for
two-and-a-half years. The product uses six
different beans to recreate the texture of tuna.
Ingredients include soy ๏ฌour and seaweed.
ATLANTIC NATURAL FOODS
GOOD CATCH FOODS
Source: https://atlanticnaturalfoods.com/tuno/
Source: https://goodcatchfoods.com/
TRENDSETTERS
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17. AhimiTM
This company sidesteps the protein
angle and uses everyday vegetables in
its plant-based seafood to speci๏ฌcally
mimic raw ๏ฌsh. Its ๏ฌrst product, Ahimi,
is an alternative to raw tuna made with
Roma tomatoes and its second product,
Unami, is a freshwater eel substitute
made from eggplant. The company is
working on a salmon-alternative, called
Sakimi, made from carrot.
OCEAN HUGGER
FOODS
Ingredients for Ahimi include tomatoes,
non-GMO soy sauce, ๏ฌltered water,
sugar, and sesame oil. Unami is made
from eggplant marinated in gluten-free
soy sauce, mirin, and algae oil.
UnamiTM
TRENDSETTERS
SakimiTM
Explorer Series: Is plant-based ๏ฌsh the future of seafood? 16Source: https://oceanhuggerfoods.com/
18. New Wave Foods launched its shrimp
alternative in 2015, ๏ฌrst for the food
service sector, but has into some retail
outlets with raw and breaded shrimp
variants. The company is looking at
launching plant-based crab and lobster in
the future.
Ingredients include soy protein, brown
algae extract, and vegan natural ๏ฌavors
(and some undisclosed ingredients).
NEW WAVE FOODS
TRENDSETTERS
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19. WHATโS NEXT FOR
PLANT-BASED
FISH?
WHATโS NEXT FOR
PLANT-BASED
FISH?
There is no question that plant-based ๏ฌsh will
become a more common sight in restaurants,
supermarkets, and homes, but this journey is
not going to be without its challenges.
Consumers wonโt be ready to give up ๏ฌsh
altogether or even cut down signi๏ฌcantly.
After all, ๏ฌsh is still currently easily available,
affordable, and nutritious.
However, food sustainability and the
environmental concerns will push US
consumers away from resource-intensive
animal products, paving the way for plant-
based alternatives to seafood to be the next
big trend.
In tandem with the interest in seafood
alternatives, there will also be signi๏ฌcant
interest in the plant ingredients used to make
plant-based ๏ฌsh. Companies operating in this
space are constantly experimenting with new
ingredients or revamping old ones so as to
get the taste and texture of ๏ฌsh alternatives
just right. With greater improvements in
these features, it would make it easier for
consumers to switch over from real seafood.
Explorer Series: Is plant-based ๏ฌsh the future of seafood? 18
20. The scramble to get the faux ๏ฌsh as close to
real ๏ฌsh will result in the rise of a number of
new ingredients that are more effective in
replicating seafood. Exotic ingredients such
as banana blossom and heart of palm show
potential to take pride of place on American
plates alongside more familiar ingredients
such as eggplant and carrot as potential
alternatives to ๏ฌsh.
As this trend becomes more established and
consumers start demanding plant-based
alternatives to a wider variety of seafood
species, we can also expect manufacturers to
scour different parts of the world for
ingredients that are better suited to
reproduce speci๏ฌc types of ๏ฌsh.
Furthermore, the growing demand for more
exotic ingredients for these markets opens
doors for ๏ฌshing communities in terms of
alternate employment. In the long term,
manufacturers might want to consider
partnering with agricultural and ๏ฌshing
communities to grow domestically the more
exotic crops used to make plant-based ๏ฌsh
instead of sourcing them from other
countries at a much higher cost.
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21. ABOUT
SPOONSHOT
ABOUT
SPOONSHOT
Spoonshot is a food AI company that is raising
the bar for insight-led innovation.
Spoonshotโs belief is that exploration is the
catalyst behind novel, successful products,
the very fuel to help food and beverage
companies shape the future, to set the trend.
Spoonshot equips the food and beverage
industry with unprecedented foresight of
emerging market needs. By transforming
long-tail, open information from diverse,
authentic sources, Spoonshotโs proprietary
food science infused algorithms connect
disparate data sets, to deliver personalized
insights, predict trends, and identify novel
opportunities. Today, Spoonshot is
supporting the worldโs best known brands in
meeting the future needs of their customers.
For more information, please visit
spoonshot.com
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For more details contact us on hello@spoonshot.com