Page 31 - FoodFocusThailand No.225 December 2024

SPECIAL FOCUS

Innovations and Growth in the Alternative Promoting Sustainable Investment
Seafood Industry 1. Invest in Regenerative Community Programs:
Cultivated Seafood: Companies like Wildtype, Companies should engage with local fishing communities to create
BlueNalu, and Shiok Meats are leading the charge by job opportunities and fund habitat restoration efforts. For example,
developing lab-grown fish, shrimp, and crab that closely incorporating sustainable seaweed and shellfish farms into
replicate the taste, texture, and nutritional content of their alternative seafood supply chains might prevent coasts from
wild-caught counterparts. Innovations in bioreactor erosion and pollution while simultaneously providing money to
technology and cell line optimization are critical to scaling local residents.
up production and achieving cost efficiency, with companies 2. Prioritize Circular Bioeconomy Initiatives: Incorporate
exploring regenerative and circular economy approaches regenerative materials, such as algae or bio-based scaffolds
for sustainable inputs. into manufacturing. This strategy not only improves
Plant-Based Alternatives: Leveraging sustainable plant product sustainability but also helps to restore coastal
resources like algae and seaweed, companies such as Good ecosystems by promoting local algae farms and waterway
Catch and New Wave Foods have introduced plant-based rehabilitation.
seafood that mimics fish and shellfish. Algae is particularly 3. Enhance ESG Investments and Partnerships: Investors
valuable for its regenerative capability because it absorbs can support companies involved in regenerative and
CO and grows quickly without depleting land or freshwater community-oriented projects.
2
resources, making it an excellent choice for alternative
seafood products. In Thailand, OMG Meats and Mantra have Market and Investment Growth Projections
been at the forefront of developing plant-based seafood Alternative seafood is rapidly gaining investor interest as part of
consumer packaged goods utilizing soybean, wheat protein, the broader alternative protein market. According to GFI’s report,
and chickpea. the global cultivated meat and seafood companies have
Deep-Tech Biotech Solutions: Investment in attracted over $3.1 billion in investment since 2013, with $226
deep-tech, particularly in areas like cell culture media and million invested in 2023 alone, despite a challenging funding
alternative bioprocessing techniques, has helped reduce environment.
production costs while improving product quality. Projections from market research suggest the alternative
For example, alternative growth media derived from crop seafood sector could reach a market value of over $1.3 billion by
by-products are reducing reliance on expensive and 2030, driven by the increasing demand for sustainable protein
environmentally intensive inputs, contributing to a more sources and regulatory approvals across Asia, the U.S., and
resilient, regenerative food system. Europe.
However, achieving sustainable growth requires a continued
Scenario Planning for Sustainable Alternative commitment to innovation and regenerative practices.
Seafood: Regenerative Growth by BIO BUDDY By prioritizing ESG-aligned investments, alternative seafood
In this scenario, the alternative seafood sector not companies can differentiate themselves, attracting green financing
only achieves rapid growth but also contributes to and reinforcing their commitment to sustainable, community-
environmental restoration through regenerative food centric practices.
systems. Companies, investors, and governments strongly Alternative seafood has transformative potential for food
support sustainable practices, while consumers have security and environmental health. Companies may take the lead
a strong preference for environmentally friendly products. in developing a regenerative food system by investing in
The factors driving the sustainable growth of alternative community collaborations, supporting ecological restoration, and
seafood include: choosing local supply chains. For stakeholders in the alternative
• Technological Advances and Cost Reductions: seafood business, the path to sustainable growth includes creating
Continued breakthroughs in bioprocessing and bioreactor trust, advocating for favorable regulations, and incorporating
technology drive down production costs, making cultivated regenerative techniques.
seafood accessible and competitive with conventional
seafood.
• Regulatory and Policy Support: Governments
recognize alternative seafood as a critical element of More Information Service Info C003
sustainable food systems, offering funding and streamlined
regulatory pathways. For example, Singapore, the first
country to approve cultivated meat, is fostering a supportive เอกสารอ้างอิง / References
regulatory environment for alternative seafood. Food and Agriculture Organization (FAO)
• Community and Ecosystem Engagement: Good Food Institute
Alternative seafood companies collaborate with local FoodHack
communities along rivers, coastal areas, and fishing towns, Green Queen Media
supporting sustainable fishing practices, wetland restoration, Agfunder
and habitat regeneration. Bio Buddy

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