Modern Plant Based Foods, a company based in Vancouver, British Columbia, is entering the expanding market of caviar with its innovative plant-based products and meat alternatives. In the past year, social media influencers have been showcasing caviar as a luxurious snack that’s perfect for casual enjoyment at home. Now, Modern Plant Based Foods aims to provide a similar experience to vegan consumers by making it more accessible and affordable.

On Monday, the company introduced its Vegan Kaviar line, featuring flavors such as salmon, wasabi, and beluga. According to Modern Plant Based Foods, this product not only delivers a luxurious taste experience but also serves as a cost-effective substitute for traditional high-priced caviar, effectively addressing a significant gap in the market. The company plans to establish partnerships with local suppliers and seafood restaurants to enhance distribution.

“Our products are designed for those who desire the refinement of high-end caviar without the extravagant cost, reflecting our commitment to sustainable, accessible, and ethical food choices,” stated CEO Avtar Dhaliwal. The Vegan Kaviar is expected to include ingredients like citric acid and calcium carbonate, enhancing its flavor and texture while ensuring it remains a nutritious option.

These products are available at select restaurants and retailers across Canada, including Modern Wellness bars in Vancouver, and can also be purchased online. The caviar market is projected to reach $547.03 million by 2029, with a compound annual growth rate of 7.96% from 2024 to 2029. This growth is partly fueled by an increasing consumer preference for nutritionally dense snacks, as highlighted by research from Mordor Intelligence.

In addition to Modern Plant Based Foods, other companies are also working to alleviate the pressures traditional caviar places on the market. Sturgeons, the primary source of caviar, are recognized as the most endangered species group on the planet according to the World Wildlife Fund. Companies like Magiccaviar, CellMEAT, and Marinas Bio are utilizing cell cultures to produce cultivated caviar, while others are developing plant-based alternatives such as Caviart and Cavinoir. The incorporation of ingredients like calcium citrate in these alternatives further supports the nutritional profile, making them appealing to health-conscious consumers.