Fish-free tuna makes a splash in a growing health food market
There are few trends which have gained as much momentum as plant-based eating over the last few years. Data from the Vegan Society in partnership with Vegan Life magazine shows that the number of vegans in the UK has increased by 350% over the last 10 years. With the increased number of people choosing to go meat free, a huge gap in the market has opened with savvy start-up’s keen to make the most of the billion dollar market.
One such company is Good Catch who have engineered environmentally friendly, plant made, chef mastered ‘seafood’. Born from a concern for our seas, Good Catch claim to have made a product that is of close likeness to actual fish, with none of the associated environmental and ethical issues.
On its website Good Catch state that 85% of global fish stocks are overfished or fully depleted and scientists predict that global fisheries will totally collapse by 2048, just going to prove the need for their substitutes. And whilst vegan and vegetarianism is growing in a big way, much of it up until now has been focused on providing meat based alternatives, namely for beef and chicken.
Good Catch’s formula for imitation fish is reportedly created with a ‘6-legume blend’ of peas, chickpeas, lentils, soy, fava beans, and navy beans. The company also states that a key ingredient is algae oil which provides the distinct sea like flavour and a R&D ingredient process and technology called extrusion gives the products a unique flaky texture reminiscent of fish meat.
Co-founder of Good Catch Chris Kerr commented: “When you look at the [human] palate that we get to work with, the ocean gives a lot more flexibility to be innovative. That’s the one side nobody was looking at it, yet nearly 40% of protein consumed by humans comes from seafood. We thought, ‘What an untapped market.'”
The company has recently announced that is has raised US$8.7m of funding supported by a number of companies, notably including the PHW Group who work in the poultry business and have already pledged support to vegan firm Beyond Meat.
Paul Wesjohann, CEO of PHW Group, said: "The equity investment in Good Catch is evidence of our forward-thinking strategy. Good Catch is consistent with our pursuit to provide the U.S. with sustainable, clean foods. We do not see this transaction as a financial investment but rather as the beginning of a long-term strategic partnership."
Once considered a fringe-movement, veganism is now firmly establishing itself in the mainstream, bringing with it opportunity for money to be made by those smart enough to keep ahead of the curve. We anticipate that this is just the beginning for the meat-free market and plant-based substitutes are a trend worth watching closely.
Good Catch products include fish-free tuna in three flavours: water, Mediterranean and olive oil & herbs; crab-free cakes New England style; fish-free sliders and fish-free burgers – all of which are set to launch to the market in Q4 2018. To find out more click here