Canadian seafood brand Scout has launched the first craft canned seafood line to source 100% of species off the shores of Canada and the U.S.
And their timing couldn’t be better. COVID-19 has driven the demand for canned seafood to an all-time high with the global canned seafood market expected to grow by $6.9 billion over the next four years.
Unfortunately the industry is chronically underfunded with seafood brands accounting for less than 1% of all emerging consumer packaged goods (CPG) even though the seafood industry is the primary protein source for more than 3 billion people.
That’s about to change as well.
The combination of soaring seafood demand and fresh investment dollars is creating a perfect storm, exposing a gap in the market where business-to-consumer startups like Scout can succeed.
Scout has landed a $1 million funding round led by David Barber’s Almanac Insights. Almanac invests in responsible CPG companies and includes plant-based Good Catch Tuna and salad chain Sweetgreen in its portfolio.
Barber just happens to also be an advisor to s2G Ventures so the forecast for Scout looks clear if they can prove their business model.
“Consumers’ palettes are changing, which presents an opening in the market for healthier options. With incredible products and a transparent business model, Scout is well-positioned for success and deciding to invest wasn’t a difficult one,” Barber announced earlier this month.
Scout has established a network of small-scale and sustainable fisheries, local to Canada and the U.S., to introduce a transparent supply chain rooted in protecting ocean health. Scout’s launch lineup includes Marine Stewardship Council (MSC) Certified Albacore Tuna from the Pacific Northwest, Prince Edward Island mussels, MSC Certified Atlantic lobster and Ontario trout.
Eager to shift consumer mindset to adopt the European conservas culture, recipes for the product line were Chef-created for easy at-home meal preparation.
“There’s a growing appreciation for conservas across North America. Once Tapa and wine bars started introducing tinned seafood, there seemed to be a groundswell of people integrating canned seafood into meals at home,” said co-founder of Scout Chef Charlotte Langley. “The current climate has definitely highlighted canned fish as a necessity – it’s the right time to introduce an elevated offering into this category.”
“Consumers’ palettes are changing, which presents an opening in the market for healthier options. With incredible products and a transparent business model, Scout is well-positioned for success and deciding to invest wasn’t a difficult one,” said Co-Founder of Almanac Investments, a fund that invests in responsible CPG companies, David Barber.
Scout was co-founded by Langley and CEO Adam Bent.