Canadian food companies invest $15.3 million in alt-seafood products

Konscious Foods, Merit Functional Foods and Canadian Pacifico Seaweeds have announced a new partnership that will work towards developing an extensive line of plant-based seafoods for North American grocery stores.

The Fish Site
by The Fish Site
29 November 2022, at 10:31am
Representatives from Konscious, Merit and Canadian Pacifico Seaweeds
Representatives from Konscious, Merit and Canadian Pacifico Seaweeds

The new partnership aims to develop sustainable and nutritious products that match the taste and texture of their seafood counterparts © Protein Industries Canada

The $15.3 million partnership, created with a $5.5 million co-investment from Protein Industries Canada (PIC), hopes to bring more than 20 alt-seafood products to North American consumers. The investment is acting as a catalyst for the initiative, allowing Konscious Foods, Canadian Pacifico Seaweeds and Merit Functional Foods pick up the pace and become more efficient.

According to reporting in Vegconomist, the alt-seafood offerings hope to match the texture and taste of traditional seafood using clean-label ingredients. As an initial step, Konscious plans to include Canadian-grown and -processed ingredients from its partner organisations, as well as other sources of pea, canola and seaweed ingredients.

Though Konscious already boasts its own portfolio of seafood alternatives for Canadian shoppers, the company hopes to place the newly announced alt-seafood line across the broader North American market and enter food service channels.

plant-based seafood
Plant-based seafood

In the last three years, PIC and industry partners have invested over $485 million into growing Canada’s plant-based food and ingredient sector © Protein Industries Canada

According to the partners, the growth and success of their project thus far is built on the expertise of its senior team members, which includes Yves Potvin, who founded successful plant-based companies like Yves Veggie Garden and Gardein.

“At Konscious, our chefs apply their culinary skills to crafting elevated plant-based foods using simple high-quality ingredients,” said Yves Potvin, CEO of Konscious Foods. “We are grateful for the support that Protein Industries Canada has provided, allowing us to bring innovation to the grocery freezer aisle and helping shoppers make better choices.”

In the last three years, PIC and industry partners have invested over $485 million into growing Canada’s plant-based food and ingredient sector.

“Canadian consumers are looking for more plant-based food choices, and they want those choices to be developed sustainably and here in Canada whenever possible,” said Protein Industries Canada CEO Bill Greuel.

He continued, “our processors and manufacturers have the innovative mindset and raw resources to do that, but they often need the investment support. Protein Industries Canada is proud to be one of their potential partners in that area, helping to get new plant-based foods—like these seafood alternatives—into grocery stores sooner, providing Canadian families with new choices of healthy, sustainable food options.”

“It’s impressive to see Canadian companies working together to develop new and innovative plant-based seafood products,” said the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry. “This project, with the support of the federal government, is building capacity, leveraging partnerships and creating more jobs and economic growth, all while delivering in-demand products.”