Good Catch, Bumble Bee Leverage Strengths to Grow Plant-Based Seafood
Considering that plant-based seafood is expected to be this year’s biggest growth segment in plant-based foods, according to the Plant Based Foods Association, it’s no surprise that Bumble Bee Foods is partnering with Good Catch parent Gathered Foods to leverage both companies’ strengths and expand distribution of Good Catch’s plant-based seafood products in the United States.
“We are the first major seafood company to get into the plant-based space through this joint venture with Good Catch, and it really leverages both of our strengths and provides consumers with more choices, while decreasing demands on the ocean,” Bumble Bee Foods President and CEO Jan Tharp said.
The plant-based meat market accounts for about $801 million a year, according to SPINS data commissioned by the non-profit Good Food Institute. Last year, plant-based seafood only accounted for 1 percent of the total plant-based meat segment, according to Forbes, but the business news outlet said more industry players are starting to take notice of the category.
The average American consumer eats more than 14 pounds of fish and shellfish every year and companies like Bumble Bee Foods are looking to do their part to lessen the impact on the ocean, according to CNBC.
In 2018, the World Economic Forum reported almost 90 percent of the Earth’s fish reserves were either fully exploited, overexploited or depleted. “If we stay on our current course, we will push one of the plant’s prime food sources to the limit and compromise our ambitions for a better world by 2030,” the report said.
Click here for more information about the Good Catch and Bumble Bee Foods’ joint venture.