Alternative seafoods: The omega-3 opportunity

This was the key message delivered by The Good Food Institute’s (GFI) lead scientist for cultivated meat and seafood Clair Bomkamp, presenting at the GOED Exchange in Athens, Greece on Tuesday (Jan 23).

“There are some converging trends in seafood that make us think we need to look more closely at how we’re producing this food,” she asserted. “Fewer than 7% of fisheries are currently being fished at levels below the sustainable limits.

“This doesn’t mean 93% are over fished, but the 7% is where there’s room for growth, and we need growth. A World Bank report estimated a 27% increase in fish consumption between 2010 and 2030, and it seems we are pretty much on track for that so far, yet how we’re going to meet that demand is not clear.”

The non-profit organization GFI has been developing a roadmap for a sustainable, secure and just protein supply by looking into alternative proteins which they believe will be part of the solution.

“But this is not just about altruistic concerns about food security or sustainability,” Bomkamp said. “It’s something companies are recognising as a big opportunity for future growth.”

She noted that the plant-based seafood market has seen steady year-on-year growth since 2019. However, while plant-based meat makes up 3% of the total packaged meat market, seafood alternatives are under 1% of that market.

“If seafood alternatives were to make up the same percentage of their market that would be a potential $196 million industry,” she told the room.