A report from behavioral insights platform Veylinx, published in April, has found there is still demand in the marketplace for more plant-based seafood products.
Veylinx, which has conducted market research for Unilever, PepsiCo, Nestlé, General Mills, Reckitt, and Kimberly-Clark, found in its “Our Plant-Based Future: Consumer Demand for Alternative Proteins” report, which surveyed 3,538 U.S. consumers over the age of 18, that opportunities continue to exist in the plant-based food category, despite some level of market saturation. The seafood category in particular represents fertile ground for vegan alternatives, according to Veylinx CEO Anouar El Haji.
"While we may be approaching a saturation point for products like burger patties and hot dogs – making it difficult to win shelf space and market share – our research shows there are still plenty of categories like seafood, jerky, and ready-to-eat meals where consumers are seeking more varied plant-based options," El Haji said. "Brands can succeed in these categories by launching products that are delicious and priced competitively, even if they don't duplicate the taste and texture of meat. We also found that consumers are willing to buy unfamiliar protein innovations like mycoprotein, microalgae, and even edible insects – especially when they are incorporated into packaged foods like frozen lasagna and jerky."
Just 5 percent of the participants in the Veylinx study identifed as vegan or vegetarian, but 77 percent said they could be convinced to buy meat alternatives more frequently. And that interest is driven by healthiness, taste, and price rather than concerns over animal welfare or the environment, Veylinx found. In fact, negative messaging appeared to have a limited impact in changing consumer sentiment across the board. Even when presented with animal welfare messaging, purchaser interest in meat products only decreased by 7 percent, and environmental messaging only shrunk purchase interest by 6 percent. Warnings about the negative health effects of meat consumption only dropped purchase interest by 2 percent, Veylinx found.
Younger consumers are the most open to switching to meatless alternatives, with 87 percent of Gen Z consumers surveyed saying they could be persuaded to buy more meatless products. Just 23 percent of those surveyed said they could never be convinced to buy a meatless product.
The study also found certain naming conventions had an outsized impact on influencing purchaser interest, with "meatless" boosting demand by 16 percent more than “vegan. “Veggie," "plant-based," and "animal-free” all had a more-positive impact than vegan, Veylinx found.
Customers also expressed interest in lab-grown meat, microalgae, and to a lesser extent, insect protein, as substitutes for meat, with many shoppers expressing a willingness to pay a premium for products that had a combination of good taste and positive health benefits. More than half of respondents said they favored government subsidies to research and develop meat alternatives, with 62 percent of Gen Z respondents supporting a meat tax and 71 percent backing subsidies to reduce prices and stimulate innovation.
The research comes as Gathered Foods, the maker of the Good Catch brand plant-based seafood alternatives, announced a partnership with Ladle and Leaf, a multi-unit San-Francisco-based soup and salad restaurant. The partnership will result in Good Catch Plant-Based Tuna and Crab being used in Ladle and Leaf soups, including Manhattan Seafood Chowder, Crab and Corn Bisque, and New England Fish Chowder.
"Seafood-based soups and chowders are staple dishes for coastal towns, and we're thrilled to partner with Ladle & Leaf to create delicious plant-based versions of these classics that offer the taste of the ocean that's better for the ocean and all that call it home," Good Catch Co-Founder and Chief Culinary Officer Chad Sarno said. "This partnership was such a natural fit for us, as Ladle & Leaf prioritizes ingredient integrity in everything they do. We can't wait for consumers in the seafood-dominant market of San Francisco to enjoy our vegan seafood soups that provide the same feel-good bowls of enjoyment as the traditional version."
Good Catch said it has grown its market footprint through distribution partnerships in the foodservice sector, including the introduction of its Plant-Based Deli-Style Tuna at Whole Foods Market nationwide; the featuring of its Plant-Based Classic Fish Burgers at Bareburger; and its Plant-Based Breaded Fish Fillets and Crab Cakes being featured in limited-time offerings at Long John Silver's. Good Catch also announced a partnership with BJ's Wholesale Club to offer its Good Catch Plant-Based New England Style Crab Cakes, and another with Sprouts Farmers Market featuring its Frozen Plant-Based Breaded Fish Fillets, Crab Cakes, Fish Sticks, and Plant-Based Tuna nationwide.
Photo courtesy of Gathered Foods
