The formation of Future Ocean Foods signals a burgeoning sector within the food and beverage industry. This alliance, which includes 36 businesses across 14 countries such as the US, Canada, the UK and Singapore, aims to advance food security, human health, environmental sustainability and ocean conservation. The industry cuttings-edge areas to provide sustainable food options. “Alternative seafood is a relatively nascent but fast-growing industry, helping to solve key challenges facing the growing global demand for protein,” said the industry group.
The companies involved have received significant venture capital from the world’s leading food and climate investors and are already working with large legacy seafood companies. Marissa Bronfman, executive director of Future Ocean Foods, emphasized the pivotal role alternative seafood producers play today. She said, “This is an incredible moment in time for the future of food and our oceans. Alternative seafood offers us the opportunity to build a more delicious, nutritious, sustainable and ethical global food system.”
Future Ocean Foods members have developed seafood alternatives including whole-cut salmon filets, sushi-grade tuna, smoked salmon and flaky white fish, as well as shrimp, crab, and calamari. The initiative aims to widen the scope of the alternative protein industry to cater to more tastes and beyond North American diets. “There have been enormous recent developments in advancing the taste, texture, nutrition, and price of seafood alternatives,” it said.
The relevance of this development lies in that global fisheries are predicted to collapse by 2048 “due to human-led destruction and climate change”. The group forecasts that the global seafood industry is set to surpass $700bn by 2030, and therefore, notes the importance of creating and scaling sustainable protein sources. “As we prepare for a future population of ten billion people by 2050, the need for creating and scaling sustainable protein sources has never been more urgent.”
As the industry grows, it has become a concerted effort to counter the biggest barrier to shoppers choosing alternatives to seafood, namely the perceived health benefits of traditional seafood. Therefore, the industry continues to meet the needs of consumers in offering sustainable and nutritious food options.
