Canadian partnership invests $11 million in new line of plant-based seafood
The group expects to roll the line of products out across North American markets through grocery and foodservice channels.
The Canadian government and Canadian food companies Konscious Foods, Merit Functional Foods and Canadian Pacifico Seaweeds are teaming up to develop and roll out a new 20-strong range of plant-based seafood products across North America.
A total of CAD 15.3 million (€10.9 million/$11.3 million) has been committed to the project, with Protein Industries Canada, a branch of the Canadian government, committing CAD 5.5 million (€3.9 million/$4.1 million) and the partners committing the remaining CAD 9.8 million (€7 million/$7.2 million).
Konscious Foods will incorporate Canadian-grown and processed ingredients, including Merit’s pea and canola proteins and Canadian Pacifico Seaweeds’ seaweed ingredients, to develop more than 20 plant-based seafood alternative products.
Konscious Foods expects to roll the products out across North America markets, including through grocery and foodservice channels. Further market expansion will occur as both the brand and product line grow, said the companies.
Over the past three years, Protein Industries Canada and industry partners have invested more than CAD 485 million (€346.4 million/$357.8 million) into growing Canada’s plant-based food, feed and ingredient sector.
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