Plantish aims to be the world’s leading fish brand with zero environmental footprints. The company’s mission is to develop and create delicious, nutritious, suitably sourced plant-based seafood, thus saving the ocean ecosystem.
The team comprises food tech chemists, bioengineers, and additive manufacturing engineers with rich and diverse backgrounds.
The company targets Flexitarians, individuals who prefer to consume more alternative meals than meat but have not entirely eliminated meat from their diet yet. Especially Millennials (25-40 y.o.) and Generation Z (10-24 y.o.) are concerned about seafood consumption and related sustainability issues.
Plantish CEO, Ofek Ron, plans to have the product served in the first five U.S. restaurants at the end of 2023, with the official nationwide launch by 2024.
Although 80% of seafood is consumed as a steak, there is no whole-cut plant-based fish alternative in the market. There are several competitors, but they are focused on minced or frozen products (fish fingers and fried fish). Furthermore, Plantish SalmonTM is produced from ingredients that are already being used in foods in the U.S. Therefore, the company does not need to get U.S. Food and Drug Administration approval to sell its product.
Plantish is developing a breakthrough additive manufacturing platform to produce whole-cut fish fillets at low cost and massive scale. The pilot product is Plantish SalmonTM — high in protein, rich in omega-3s plant-based salmon steaks – saves the original structure and taste.
The global salmon market is estimated at $50B. It is one of the most popular fish species in terms of consumption, trusted by 50% of consumers. Salmon supply growth is forecasted to diminish in the coming years as industry has reached a production level where biological boundaries are being pushed.
Plantish product is expected to fulfil increasing unmet demand with no environmental footprint.
Global demand for seafood is forecasted to increase by nearly 30% by 2030. Meanwhile, harmful fishing practices have damaged marine habitats and severely depleted global fisheries—with over 90% of wild fisheries classified as overfished or harvested at maximal capacity. Aquaculture growth is only anticipated to keep pace with demand for 17 out of nearly 200 countries.
Fishing not only harms the population of marine habitats but also destabilizes the entire ocean ecosystem - fishing gear alone accounts for 2 trillion pounds of pollution annually.
Customer demand is transforming to reflect these emergency issues — 74% of US consumers try to act in a way that is not harmful to the environment, with 55% of respondents wishing to know of more sustainable alternatives to the types of fish they eat.