Proteins

SPECIAL REPORT: Plant-based meat formulation in focus, from Beyond Meat to Motif FoodWorks, Roquette, and Cargill: ‘The meat alternative space has the fastest iteration cycles out there’

27-Jul-2021 By Elaine Watson

If you look at the ingredients lists of most plant-based burgers, they’re not wildly different – a combination of extruded plant proteins, hard and liquid fats, natural flavors, yeast, methylcellulose, starch, seasonings and perhaps added vitamins and...

IFT FIRST: Alternative protein must move beyond plant-based & taste to reach full market potential

27-Jul-2021 By Elizabeth Crawford

While the alternative protein category is far from saturated and there is plenty of runway for innovation, investors predict a shaking out of players is on the horizon, and they say the companies that remain in the game will be those that move beyond...

'We are actively looking at all major animal-protein categories...' NotCo raises $235m in series D to expand its global plant-based meat, dairy empire

26-Jul-2021 By Elaine Watson

Santiago-based food tech company NotCo has raised $235m in a Series D round led by Tiger Global and supported by DFJ Growth Fund, ZOMA Lab, athletes Lewis Hamilton and Roger Federer, and musician and DJ Questlove, taking its cumulative funding to $350m...

Consumers feel the squeeze of inflation, over half have changed their purchasing behaviors

26-Jul-2021 By Mary Ellen Shoup

As many food and beverage companies face the pressure of increased costs to manufacture and transport their products, consumers have also reported feeling the impact inflation is having on their grocery bills.

IFT FIRST: Addressing conflicting consumer demands: Ask yourself, 'Why should my brand exist?'

23-Jul-2021 By Mary Ellen Shoup

Should the food industry always yield to consumer demands, especially when those demands can be conflicting and at odds with other values, such as sustainability and environmental impact?

Unilever steps up pricing as it continues to deliver strong underlying sales growth

22-Jul-2021 By Mary Ellen Shoup

Entering into the second half of 2021, Unilever said it will accelerate pricing across its product portfolio to offset the rising costs of transportation and commodities such as soybean oil.

US chilled prepared food market ripe for disruption, says FreshRealm after raising $32m to build national infrastructure for fresh

22-Jul-2021 By Elaine Watson

Wander around leading UK food retailers and you’ll see aisles of fresh prepared meals, soups, salads and desserts, dominated by private label. So, will the US market move in the same direction?

Crafty Counter gears up for launch of Wundereggs, billed as the first plant-based RTE boiled eggs

22-Jul-2021 By Elaine Watson

Plant-based brand Crafty Counter, best-known for its frozen lentil- and bean-based bites – has developed what it claims is an industry first: ready-to-eat plant-based boiled eggs, which it hopes to launch late this year or early next year.

Stryve set to go public: 'Our company has an absolute lock on biltong'

20-Jul-2021 By Mary Ellen Shoup

Growing biltong brand Stryve, which also owns Kalahari Snacks, making it the #1 air-dried meat snack brand in the US, has completed a business combination with Andina Acquisition Corp III, a publicly-traded special purpose acquisition company (SPAC).

Nature’s Fynd raises $350m in Series C to build nutritional fungi protein platform, gears up for late 2021 launch

19-Jul-2021 By Elaine Watson

Nature’s Fynd - a Chicago-based startup growing protein-packed food from microbes with a fraction of the environmental footprint of meat or dairy – has raised $350m in a Series C round (taking its total financing to >$500m) as it gears up to launch...

NextFerm gears up for 2022 launch of neutral-tasting yeast-derived vegan protein with PDCAAS score of 1.0

19-Jul-2021 By Elaine Watson

Israeli firm NextFerm Technologies – one of a flurry of players developing new protein sources from microbes - is gearing up for the 2022 commercial launch of ProteVin, a vegan, non-GMO, yeast-based protein, following successful testing at pilot scale...

‘Amazing taste and texture, and unmatched nutritionals…’ Keto-friendly Nick’s Ice Cream on course to triple US revenues this year, expand into new categories

19-Jul-2021 By Elaine Watson

Swedish keto-friendly brand Nick’s – which entered the US in late 2019 with low carb light ice cream pints – is on course to triple its US sales in 2021 (vs 2020) with continued growth in bricks & mortar retail, sharp growth in its fledgling direct...

Three acquisitions helping shape PepsiCo's beverage portfolio for the future

19-Jul-2021 By Rachel Arthur

Three high-profile acquisitions put the spotlight on how PepsiCo is shaping its beverage portfolio for the future: tapping into a new consumption model with SodaStream; eying up the opportunity for protein and sport with CytoSport, and building its presence...

Plant-based chicken space heats up as Impossible Foods enters fray with nuggets

16-Jul-2021 By Elaine Watson

The plant-based chicken category is heating up with Impossible Foods unveiling plans to enter the market in the fall with soy-based nuggets, going head to head with rival Beyond Meat, which has just launched pea-, and faba bean-based tenders.

‘The most sustainable option in the food industry…’ Noblegen opens CAD$500m Series C round to commercialize suite of ingredients from ancient microbe euglena gracilis

15-Jul-2021 By Elaine Watson

Canadian startup Noblegen has opened a CAD$500m Series C capital raise as it seeks to commercialize a suite of products from the ‘ancient microorganism’ euglena gracilis, which can produce everything from proteins that behave like animal proteins, to...

‘We want people to eat more plants…’ Wicked Kitchen debuts in US, raises $14m

15-Jul-2021 By Elaine Watson

Wicked Kitchen – a plant-based brand developed by chefs and mushroom enthusiasts Derek and Chad Sarno that has been a hit in the UK – is hoping to make a bigger splash this side of the Atlantic after securing $14m in a Series A round co-led by Unovis...

Conagra Brands battles inflation with increased prices and continued innovation

14-Jul-2021 By Mary Ellen Shoup

As grocery buying settles into a new, less-frenzied norm, many major food companies including Conagra Brands are dealing with the rising costs of doing business in an inflationary environment by raising the prices of their finished products.

Springdale Ventures embarks on next chapter of growth with new hire and plans to raise second fund

14-Jul-2021 By Mary Ellen Shoup

Austin, Texas-based Springdale Ventures, a venture capital firm which has invested in a number of high-growth CPG brands, is on the cusp of its next chapter of growth with the appointment of a third general partner and is embarking on plans to raise its...

Wanted: Chicken or fish alternatives that 'replicate or outperform' animal products... XPRIZE unveils semi-finalists in $15m global 'Feed the Next Billion' competition

14-Jul-2021 By Elaine Watson

From Air Protein - a startup manufacturing protein out of thin air*; to Meati Foods and Atlast Foods - fungi-fueled firms making whole cut ‘meats’ from mycelium; to a flurry of cell-cultured meat players including BlueNalu, GOOD Meat, and Wildtype; 28...

‘We are excited to understand its potential’: Nestlé confirms move to explore cultured meat sector

13-Jul-2021 By Oliver Morrison

The world’s largest food company has confirmed it is eyeing the cultured meat sector after a leaked report revealed a tie-up with Israeli cell-based start-up Future Meat Technologies.

Executive order targets ‘big ag,’ other ‘monopolies’ to help small farmers, entrepreneurs & food system weaknesses

13-Jul-2021 By Elizabeth Crawford

Citing “abusive actions by monopolies,” including “big ag,” that “lead to mass layoffs, higher prices, [and] fewer options for workers and consumers,” President Joe Biden Friday signed a sweeping executive order that tasks more than a dozen agencies with...

Instacart brings on new CEO, who 'will simply be a better CEO than me for Instacart’s coming years,' says founder

12-Jul-2021 By Mary Ellen Shoup

Instacart has appointed one of its current board members and former Facebook exec, Fidji Simo, as CEO of the online grocery shopping platform, effective August 2, replacing current CEO and founder Apoorva Mehta who will be transitioning to the role of...

NuSkool Snacks finds growth in recovering snack and nutrition bar category: 'Our retail numbers are off the charts'

12-Jul-2021 By Mary Ellen Shoup

Despite overall declines of the snack and nutrition bar category over the past year, NuSkool Snacks (formerly MCTco) saw demand for its brand – and other low-sugar bar products like it increase – reports founder and CEO Joe Christensen.

Beyond Meat launches plant-based chicken tenders at restaurants nationwide

08-Jul-2021 By Elaine Watson

Beyond Meat has launched its latest plant-based innovation - Beyond Chicken Tenders – at nearly 400 restaurants across the US.

Grubhub's 2021 State of Plate shows vegetarian food orders are up 55% compared to last year

07-Jul-2021 By Mary Ellen Shoup

As the foodservice industry rebounds and consumers return to restaurant dining, mobile ordering app GrubHub took a look back at the past six months of ordering trends made by the approximately 33 million users of its mobile app.

Chobani files confidentially for IPO

07-Jul-2021 By Mary Ellen Shoup

Chobani has filed a confidential draft registration statement for a proposed initial public offering (IPO) with the Securities and Exchange Commission (SEC). The number of shares of common stock to be sold and the price range for the proposed offering...

Meat from mycelium: Fungi fueled startup Meati Foods raises $50m make Holy Grail of alt meat: whole cuts

06-Jul-2021 By Elaine Watson

Meati Foods – which is carving out new territory in the meat-alternative space with a fungi-based platform capable of producing ‘steaks’ and other whole cuts – has raised $50m in a Series B round co-led by new investor BOND and long-time Meati investor...

‘If we can control the light, we can control the DNA…’ Provectus Algae unlocks algae’s potential as an industrial platform for high-value ingredients

06-Jul-2021 By Elaine Watson

Algae is potentially a hugely exciting food source. But with a couple of notable exceptions, it has yet to set the food industry on fire, says Provectus Algae, a startup developing an automated growing platform it claims can unlock algae’s potential as...

Peapod founders launch online shopping tool Sifter: 'We are a dietitian in your pocket'

06-Jul-2021 By Mary Ellen Shoup

Online personalized shopping platform, Sifter, is hoping to make label reading a thing of the past with a tool that instantly tells consumers which products fit their dietary needs and lifestyle.

Oatmilk or oat drink? House Appropriations Committee ‘encourages FDA to provide clarity around the labeling of plant-based foods’

02-Jul-2021 By Elaine Watson

Oatmilk or oat drink? Plant-based cheese or cultured nut product? A report from the House Committee on Appropriations “encourages the FDA to provide clarity around the labeling of plant-based foods that use traditional meat, dairy, and egg terminology,”...

NEWS IN BRIEF

Private equity firm completes acquisition of Kodiak Cakes

02-Jul-2021 By Mary Ellen Shoup

Private equity group, L Catterton, has completed its acquisition of better-for-you, protein-powered waffle and pancake mix brand Kodiak Cakes.

Reaching Gen Z: 'It has to feel organic, and it has to feel natural,' says IRI

02-Jul-2021 By Mary Ellen Shoup

Accounting for 20% of US consumers with an estimated direct buying power of $143bn, Gen Z is not a generation to be glossed over by brand marketers, says IRI, characterizing this young cohort as technologically savvy with an underlying practical streak...

Quorn looks to new extrusion technology solution to crack whole meat cut conundrum

02-Jul-2021 By Oliver Morrison

The meat alternatives company has given its latest innovation challenge award to a French start-up with new technology that differs from conventional extrusion.

Plant-based meat co Future Farm gears up for US launch led by Red Bull veteran

01-Jul-2021 By Elaine Watson

Brazilian plant-based meat brand Future Farm (Fazenda Futuro) is gearing up to enter the burgeoning plant-based meat category in the US after a successful debut in Brazil and several other markets including Chile, Mexico, the UK, Germany, and the Netherlands.

Skipping breakfast leads to clear nutritional gaps among adults, study finds

30-Jun-2021 By Mary Ellen Shoup

Those who skip breakfast are more likely to miss out on several key nutrients considered to be “dietary components of public health concern” by the USDA’s latest dietary guidelines compared to those who reported eating breakfast, according to an analysis...

Real dairy proteins... minus the cows: Industry-funded consumer study shows openness to 'animal-free' cheese

29-Jun-2021 By Elaine Watson

A global consumer study* funded by ‘animal-free’ dairy startup Formo (previously LegenDairy) suggests consumers are surprisingly open to trying and buying cheese featuring dairy proteins made via microbes instead of cows after reading a detailed description...

Keto, a long-lasting trend? New keto product launches double in past year

28-Jun-2021 By Mary Ellen Shoup

Now a few years on the mainstream diet scene, the keto market continues to grow with an uptick in new product launches in the past year, according to Mintel data.

‘Follow, not lead’: China likely to be world’s largest cultivated meat consumer – but long, challenging journey ahead

28-Jun-2021 By Pearly Neo

China looks likely to be the world’s largest consumer market of cultivated meat due its population size and government support, but a long, arduous journey lies ahead before this becomes a reality, according to an industry expert.

UPSIDE Foods brings in PepsiCo SVP as it gears up for commercial launch of cell-cultured chicken

24-Jun-2021 By Elaine Watson

Cell-cultured meat pioneer UPSIDE Foods (formerly Memphis Meats) has brought in high-flying PepsiCo exec Amy Chen as its chief operating officer as it prepares to launch its first consumer product – UPSIDE chicken – later this year, pending regulatory...

Despite improvement in infant formula marketing, ‘major gaps’ persist threatening level playing field, children’s health

24-Jun-2021 By Elizabeth Crawford

While several major baby food and infant formula manufacturers have pulled back or altered their advertising and lobbying practices significantly in recent years to reduce the risk of discouraging breastfeeding, many companies continue to fall woefully...

Unilever global ice cream leader talks plant-based formulation: First get the protein right…

24-Jun-2021 By Elaine Watson

Unilever experienced an “explosion” in the growth of non-dairy ice cream when it introduced products through mainstream brands such as Ben & Jerry's and Magnum, according to global ice cream EVP Matt Close. But getting plant-based proteins to...

Impossible Foods CEO on processed food, selling heme to other brands, and reaching price parity

24-Jun-2021 By Elaine Watson

Attempts to put plant-based meats “in the same category as Twinkies” because they are both “processed foods,” should be dismissed as “meat industry propaganda,” Impossible Foods CEO Dr Pat Brown told delegates at the Future Food Tech alternative proteins...

GUEST ARTICLE: The Alternative Future of Meat

23-Jun-2021 By Matthew Walker, managing director, S2G Ventures

A market with a variety of alternative meat sources provides ultimate flexibility for the consumer, and several emerging technologies have a role to play in the meat supply chain of the future.

‘Our goal is to make cultured meat affordable for everyone…’ Future Meat Technologies opens facility, gears up for 2022 launch

23-Jun-2021 By Elaine Watson

Israeli startup Future Meat Technologies has opened what it claims is the first ‘industrial’ cell-cultured meat facility, capable of producing 500 kilos of meat a day (the equivalent of around 5,000 hamburgers), as it gears up for a US launch next year,...

Investing in the Future of Food: Baby food company Tiny Organics raises $11m to help ‘rewrite’ American diet

23-Jun-2021 By Elizabeth Crawford

Convincing children to eat their vegetables doesn’t have to be a struggle, according to the founders of Tiny Organics, who, with an infusion of $11 million in Series A funding, are helping kids break the sugar addiction with which they are born by replacing...

Nature’s Fynd receives GRAS no questions letter from FDA for ‘Fy’ nutritional fungi protein

18-Jun-2021 By Elaine Watson

Nature’s Fynd has received a coveted 'no questions’ letter from the FDA in response to its GRAS safety determination for its ‘Fy’ fungi ingredient (Fusarium strain flavolapis*), a protein-packed naturally-occurring micro-organism with origins in...

Motif FoodWorks raises $226m in Series B, gears up for launch of ingredient to transform flavor and performance of plant-based meat

16-Jun-2021 By Elaine Watson

Motif FoodWorks – a Boston-based startup focused on high-impact ingredients that can be added to plant- based meat and dairy formulations in small quantities but make a significant difference to the eating experience – has raised $226m in Series B* funding,...

Animal-free dairy co Change Foods closes $2.1m seed round, gears up for 2023 launch

16-Jun-2021 By Elaine Watson

San Francisco-based Change Foods – one of a new breed of startups making 'animal-free' dairy ingredients using microbes instead of cows – has closed an oversubscribed $2.1m seed funding round,* and plans to launch its first consumer products...

Lightlife president predicts more segmentation in plant-based meat, defends ‘real food’ stance: ‘It was not a PR stunt, we wanted to start a conversation…’

15-Jun-2021 By Elaine Watson

Lightlife Foods’ recent campaign pitting its ‘real food’ credentials vs the 'hyper-processed' wares of Impossible Foods and Beyond Meat was dismissed by some as a PR stunt. However, it started a conversation, says president Dan Curtin, who predicts...

Serenity Kids raises $7m to reach beyond the “elite, crunchy consumer” and expand into mainstream

15-Jun-2021 By Elizabeth Crawford

With an infusion of $7m in series A funds, baby food challenger Serenity Kids hopes to prove its high-fat, meat- and vegetable-based purees, grain-free puffs and bone broths “are not just for the elite, crunchy consumer,” by expanding distribution and...