The nascent alternative seafood industry must enhance the healthiness of its products to attract consumers away from traditional fare, according to Jon Burton, the business unit director for marine protein at Thai Union Europe. Speaking at the Arena Meat Free Strategies conference, Burton highlighted that the primary obstacle preventing shoppers from choosing alternative seafood is their perception of the health benefits associated with consuming traditional seafood.
Burton explained at the conference that consumers typically opt for alternative protein over meat, dairy, or seafood due to health and environmental reasons. However, he noted that alternative seafood lacks the perceived health benefits associated with fish, which is widely known for its nutritional value. This places health as a barrier for the adoption of alternative seafood.
Although there are ingredients that alternative seafood companies can utilize to improve product nutrition, Burton mentioned that this could potentially affect taste. Balancing nutrition and taste becomes a challenge for these companies, as improvements in one aspect often result in a compromise in the other.
In terms of environmental concerns, Burton pointed out that only a small percentage of consumers are genuinely worried about overfishing, indicating that it is not a highly prevalent issue in the consumer’s consciousness.
Compared to the alternative meat market, the global alternative seafood market is still in its infancy and has yet to make significant inroads in the same way. While plant-based seafood accounts for an estimated 0.1% of the conventional seafood market in the US, Burton believes the alternative seafood industry is about a decade behind alternative meat. As consumers are not actively seeking seafood substitutes, it is up to brands to introduce alternative seafood products to the market.
In February, Thai Union introduced two vegan tuna alternatives under its John West brand in the Netherlands. The company utilizes its “marine protein,” which is made from sea-based ingredients such as algae. Thai Union’s entry into the plant-based seafood market in the US occurred in August of last year through an alliance with US-based plant-based seafood business, The Ish Company.
This venture follows Thai Union’s 2019 launch of Space-F, an incubator and accelerator program for plant-based start-ups, in collaboration with Mahidol University and Thailand’s National Innovation Agency. Thai Union has also established the Thai Union Corporate Venture Fund, which invests in fledgling businesses focused on alternative proteins, functional nutrition, and value-chain technology.
As Burton explains, while Thai Union recognizes the need for collaboration and partnerships, they also understand the challenge of introducing transformative innovations within an established industry.
