'Thai Union Group PCL' announced a new partnership with 'The ISH Food Co.' whereby the two companies will collaborate on bringing plant-based seafood options to North America. ISH is most known for its alternative seafood products such as 'Shrimpish,' and it is currently developing plant-based options to cover salmon, crab, and lobster markets as well.
Through its collaboration with Thai Union Group, ISH will leverage Thai Union's expertise in marketing, distribution, and knowledge of the local markets in order to skyrocket the adoption of ISH products in the west. Bernard David, the founder and CEO of ISH, stated: "We have a big mission, and we can’t do it alone, which makes this collaboration in North America even more important," when speaking on the necessity of working with an experienced marketing and distribution group.
Plant-Based Seafood Partnerships
Thai Union Group Partnered with ISH on Alternative Seafoods
Trend Themes
1. Plant-based Seafood - A trend of creating plant-based seafood alternatives is emerging as more companies partner with each other to create new products and expand their business in North America.
2. Collaborations - Partnerships between companies that specialize in alternative seafood products and those with distribution, marketing and local market expertise are becoming more common as they seek to increase adoption of their products.
3. Alternative Proteins - Plant-based seafood products are part of a wider trend of alternative protein sources that are gaining popularity and investing in such options can help companies capitalize on this growing opportunity.
Industry Implications
1. Food and Beverage - The food and beverage industry is seeing a significant shift towards plant-based alternatives as more consumers are choosing healthier and sustainable options, creating opportunities for companies to invest in this emerging market.
2. Seafood - The seafood industry can benefit from collaborating with alternative seafood companies to create plant-based products, expand their offerings and appeal to consumers who are interested in healthier and more sustainable options.
3. Marketing and Distribution - With the rise of plant-based seafood alternatives, companies that specialize in marketing and distribution of products can leverage their expertise to collaborate with alternative seafood companies, help increase adoption of their products and expand their business in North America.