Vegan Shrimp May Be Coming to a Restaurant Near You
You can find pretty much any type of plant-based meat alternative in the grocery store, from chicken to beef to pork alternatives, but there is noticeable white space in the plant-based seafood market. Luckily, New Wave Foods is working on filling this space, announcing that its plant-based shrimp will now be available nationwide. After the company’s $18 million Series A round of funding, New Wave Foods set its sights on expanding its line of plant-based foods beginning with a plant-based seafood option. The New Wave Shrimp is made with ingredients including seaweed, mung bean, and plant protein, creating a product that mimics the shape, taste, and texture of real shrimp.
Food giant Tyson is helping to back New Waves Foods, providing the plant-based company with monetary support and the ability to enhance its product and expansion. The alternative seafood producer also signed a non-exclusive agreement with Dot Foods, launching the New Wave Shrimp distribution for North American food industries.
“Following our recently announced $18 million Series A financing, we’re excited to launch this new agreement which extends our presence and provides food service companies throughout the U.S. greater access to New Wave’s plant-based shrimp,” New Wave Foods CEO Mary McGovern said. “Given Dot Food’s vast foodservice distribution coverage, this partnership provides New Wave Foods with immediate national availability while demonstrating Dot’s belief in the growth of plant-based eating and New Wave’s product offering.”
New Wave Foods plans to build out its alternatives to include a number of shellfish alternatives including plant-based lobster and crabs by 2022. The population of wild shellfish remains at a steady decline, inspiring New Wave Foods to meet the demand that the United States has for shellfish, especially shrimp. The company aims to target restaurants and food retailers in order to deliver the shrimp alternative directly to consumers.
“We know that commercial and non-commercial foodservice operators need to continue to excite their guests with innovative food products, and plant-based food is the largest growing segment,” Director of natural and specialty for Dot Foods Rodd Willis said. “New Wave Shrimp is an extremely unique product - a true game-changer in the seafood industry. We believe that it is a great plant-based alternative to ocean shrimp as an ingredient and that it delivers on the needs of foodservice operators for menu versatility and quality.”
The company hopes to see its product enter the North American market as soon as possible. It expects to see New Wave Shrimp incorporated in restaurant menus by summer with the other alternative shellfish arriving next year. Joined by other companies such as The Plant-Based Seafood Co. and Sophie’s Kitchen, New Wave Foods is paving the way for the American market to serve sustainable shellfish alternatives to seafood lovers across the continent.
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