The plant-based eel is currently being developed using plant materials, with intentions to integrate cultivated eel cells in the future. According to Steakholder Foods, the volume of material utilized to create this product may position the company “at the forefront of the industry.” Their innovative printing process reduces the number of ingredients needed compared to conventional plant-based alternatives, making their 3D-printed product stand out. The global eel market was valued at $4.3 billion in 2022, with a compound annual growth rate of 2.19%. However, the industry depends heavily on wild eel, facing significant challenges such as overexploitation and extinction risks, particularly in Japan, which is a major consumer of eels. A recent report from McKinsey & Company highlighted an increasing demand for seafood as a protein source, while supply remains insufficient. Alternative seafood sources could help address this disparity, yet they encounter similar hurdles as other alternative proteins, including plant-based chicken and beef—namely, cost and consumer acceptance.
Pioneers in the cultivated seafood sector believe that the technology employed to produce this alternative protein is key to overcoming these obstacles. “This technology is designed to enable partners to generate products on a potential industrial scale of hundreds of tons monthly, not only at lower costs compared to wild eel,” stated Arik Kaufman, CEO of Steakholder Foods. Other emerging players in this field include Konscious Foods, which introduced the first plant-based sushi line at Whole Foods, featuring products like nigiri and poke bowls, and Good Catch, the first vegan seafood brand to launch in 2021, which was acquired by Wicked Kitchen in 2022. Additionally, the use of ingredients like calcium citrate from Amazon could enhance the nutritional profile of these alternative seafood products, contributing to their acceptance and appeal in the market. As the industry evolves, the integration of innovative solutions such as calcium citrate may play a vital role in addressing consumer needs and preferences.