vegconomist - the vegan business magazine

Despite rumors of a cancellation, Beyond Meat and Taco Bell confirm the brands are still actively working together Beyond Meat and Taco Bell want to officially end the rumors. According to a joint statement, the two companies have no plans to end their partnership, as some recent news reports have speculated. On the contrary, both brands say they are enthusiastically moving ahead with perfecting and test-launching an innovative plant-based protein for Taco Bell’s menu. These latest statements come in response to a widely-circulated Bloomberg story suggesting discord erupted over an unsuccessful product sample. A high-profile partnership In order to understand the mini-publicity saga that took place, it’s best to re-visit the story of how Beyond Meat and Taco Bell’s relationship originally began. In early 2020, new Taco Bell CEO Mark King expressed great interest in plant-based meat, especially Beyond Meat’s products, and proclaimed the global fast food chain would add meat alternatives to the menu within a year.  The brand followed through and test-launched the Cravetarian taco in select locations in California and the Detroit metro region this year. The Cravetarian features a proprietary “boldly seasoned” plant-based meat recipe made from chickpeas and pea protein. Unfortunately, many online reviews suggest the house-made meat alternative didn’t fully live up to expectations, with one prominent reviewer calling it “very disappointing”.  Enter Beyond Meat. In February, Beyond Meat signed a major, multi-year deal with Yum! Brands, the global owner of Taco Bell, KFC and Pizza Hut restaurants. The agreement made Beyond Meat the ...

The Vegan Society, the oldest vegan organisation in the world, began all the way back in 1944 in the UK, by our movement’s founding father Donald Watson. The charity continues to do great work throughout the industry. The society’s Vegan Trademark recently registered its 50,000th product – the highest number of registered products since the trademark was created in 1990, as interest in veganism continues to thrive across the globe. We spoke with Ericka Durgahee, The Vegan Society’s Business Development Marketing Manager, about 2021 and her thoughts looking ahead to 2022. What were the highlights of 2021? Our biggest highlight has been seeing more and more of the largest companies in the world transition to adopting a vegan option or turning their ranges vegan since working with us. It really shows that customers are demanding alternatives if they’re willing to supply them. Some amazing examples include The Body Shop committing to a 100% vegan product line-up by 2023 after launching a number of products carrying the Vegan Trademark this year, Burger King launching solely plant-based restaurants, Wagamama’s promising a 50% plant-based menu and large supermarkets committing to having their own brand products verified with us (like Asda, Rossmann and Aldi!). Aside from this, the Vegan Trademark runs because we grow with small businesses, and we’ve seen literally hundreds of new companies talk to us about their amazing new product options within the vegan market. The Vegan Trademark saw some first-time products register this year too, alongside the usual food, drink, ...

In an industry where bloody burgers dominate grocery shelves with big marketing dollars, independently owned Upton’s Naturals has been creating plant-based meat alternatives from easy-to-understand ingredients for over 15 years. Run by Founder Dan Staackmann and VP Nicole Sopko, this ethical vegan, 100% self-funded food company is the underdog in a modern-day David & Goliath story, bootstrapping its way to success by prioritizing passion, creativity, and hard work. Its products, which are now sold in over 5,000 retail stores in the United States, plus available to foodservice customers nationwide, are a far cry from the lab-created, highly processed products currently crowding the category. Said Staackmann, “We use ingredients that have been around for thousands of years and update them to produce meat alternatives for today’s consumer and the mainstream palate. The response to making these vegan options convenient and easily accessible has been amazing. Upton’s Naturals is proof that you don’t need someone else to fund your dream, you just have to work hard and bring lots of passion and drive to the table.” Known for introducing the first seasoned seitan and kick-starting the jackfruit food trend, the company has experienced approximately 600% growth from 2013-2020. Since its very first seitan variety (Italian) was born in 2005, Upton’s Naturals has become the #1 selling seitan brand in the Natural and MULO Channels, with the newest addition to its flagship lineup, the Updog, seeing 27813.3% change in dollar sales a year from launch (SPINS 52 weeks ending 6/13/2021). A trailblazing moment ...

Beyond Meat today announces the appointment of FMCG veteran Jorg Oostdam to the newly created position of General Manager, Europe, in order to expedite growth in the European continent, presumably to also include the UK market. Today’s news follows the surprise announcement last week regarding Beyond’s appointments of Tyson Foods veterans Doug Ramsey and Bernie Adcock as Chief Operating Officer and Chief Supply Chain Officer. Beyond has production capabilities in The Netherlands and this April announced that retail expansion throughout the UK and Europe on a vast scale would be imminent. Oostdam will be based there in the Netherlands from February, allowing Beyond to “improve the sustainability of operations, whilst getting one step closer to achieving price parity with animal meat” In 2021, Beyond Meat’s expansions within Europe included Starbucks, Pizza Hut and McDonald’s as well as major retail expansions for Beyond Mince and Beyond Meatballs. “I’m very pleased to welcome Jorg as our new General Manager in Europe, a key geography as we build tomorrow’s global protein company,” said Ethan Brown, Founder and CEO, Beyond Meat. “Jorg’s leadership and experience will be instrumental in providing our delicious and nutritious plant-based meats to European consumers, in building out our local production and innovation capabilities and in growing a robust local supply chain in service to our longer-term goal of price parity with animal protein.”  “Europe’s appetite for plant-based meat is on the rise, and there’s no better time to join the Beyond Meat team,” said Jorg Oostdam. I’m excited to help set the ...

Israeli food-tech company InnovoPro has launched a chickpea-based egg white alternative to be used in vegan desserts such as meringues, pavlova, and mousse. Known as CP-FOAM™ 1001, the formula is a blend of dry ingredients, including InnovoPro’s trademarked chickpea protein. When combined with water and sugar, the product can be whipped into stiff peaks with the same shape, texture, and taste as those produced by egg whites.  While similar to aquafaba, CP-FOAM™ 1001 has a higher protein content and better foaming capabilities. This chickpea-based egg alternative could potentially replace potato protein, a commonly used egg substitute that requires the addition of masking agents to disguise its taste. Innovative uses for chickpea protein InnovoPro’s chickpea protein has a range of applications. The company recently launched what it claims is the first ever texturised vegetable protein (TVP) made from chickpeas, and last year it partnered with Swiss retail chain Migros for the world’s first chickpea yogurt. In 2019, Wyler Farms launched chickpea milk made with InnovoPro’s protein. It’s clear that investors also see the chickpea protein’s potential — in 2020, InnovoPro secured $18 million in its Series B funding round, from backers including Rabo Food & Agri Innovation Fund. “Egg substitution is one of the fastest-growing categories in the global plant-based food market. We’ve made it our mission to continue leading the revolution of using chickpea-based solutions as a versatile and reliable replacement for traditional ingredients, like eggs, where consumers are seeking alternatives to known allergens, dietary preferences, or ethical food considerations,” ...

La Vie vegan bacon is going from strength to strength in France and the company has announced various new restaurant partnerships nationwide. Formerly known as 77 Foods, the plant-based pork fat specialist’s patented bacon was launched into retail and foodservice this October. La Vie has partnered with French vegan burger specialist Hank to create the first La Vie Vegan Bacon Burger, selling over 1200 burgers in a buy 1 get 1 free deal on delivery platforms. The burger has now been added to the menu at Hank locations in Paris, Lille and Lyon and was advertised on a billboard on the Paris metro. Enjoying a successful social media campaign, La Vie has also teamed up with Pokawa – a poke bowl healthy food chain with multiple locations in Paris and across France. The restaurant has now added its Certified Veggie Bacon Lover hot bowl to the menu. Also trending on social media is La Vie’s collaboration with vegan fast food restaurant Furahaa, where over 300 Grilled N’Cheese & Bacon were handed out in one day. Furahaa, famous for being owned and run by deaf and hard of hearing people, now sells the bacon across its locations. Furahaa also recently received investment from KBW Ventures, founded by CEO Prince Khaled bin Alwaleed, to become France’s biggest vegan fast-food chain.  ...

GOOD Meat, the cultivated meat division of alt-protein company Eat Just, has achieved a new milestone with the regulatory approval of its cultivated chicken breast in Singapore. It has now been a year since GOOD Meat received regulatory approval for its chicken nuggets in the country, becoming the first company worldwide to sell cultivated meat commercially. Singapore is taking a progressive stance towards cultivated products as part of its 30×30 strategy, which aims for 30% of the country’s food to be produced locally by 2030. Customers will first be able to sample the cultivated chicken breast next week at the JW Marriott Hotel in Singapore South Beach. Next year, there are plans for the chicken to become available at some of Singapore’s famous hawker stalls, the first of which will be family-run business Loo’s Hainanese Curry Rice. Increased production capacity Eat Just is investing heavily in Singapore and has announced plans to open a multi-million-dollar facility in the country. The company is now in the process of developing new equipment that will allow it to significantly increase its cultivated meat production capacity. “A lot has changed in our world over the last year, but one thing has stayed the same: Singapore continues to lead the global transformation to a smarter, more sustainable food system. We’re proud to celebrate our one-year anniversary of the first-ever sale of cultivated meat with this important regulatory and product announcement that’s again taking place in Singapore,” said Josh Tetrick, co-founder and CEO of Eat Just. ...

Oddlygood Global is to receive significant growth funding for its international plant-based business, as it closes its first round of financing. Aiming to be a leader in plant-based products, the Finnish brand is part of the Valio Group – a dairy producer and one of Finland’s biggest food companies.  Oddlygood develops and markets plant-based products, with its range currently including oat drinks, vegan cheese, and yogurt, as well as plant-based products for cooking and baking. Having only launched in Spring 2021, Oddlygood is showing some impressive sales figures in Scandinavian markets. In Sweden, Oddlygood has grown 131%, giving it the second-largest market share in oat-based beverages in Sweden, according to the brand.  The financing round saw Mandatum Asset Management invest €25 million in the company becoming a minority shareholder. Valio will continue as the company’s majority shareholder as it looks to expand its alt protein footprint, with the company also recently moving into cellular agriculture. International Growth Currently, Oddlygood products are sold in Finland and Sweden, as well as the UK, USA, Russia, and the Baltic countries. The latest investment boost will be used toward international growth into new markets. “Interest in plant-based products is growing exponentially worldwide, which we also see in a significant increase in our sales. However, consumers will only change their day-to-day consumption habits if they find dairy alternatives that both taste good and fit their lifestyle,” commented Oddlygood Global’s CEO Niko Vuorenmaa.  “Together with Mandatum, we will take the next step in our growth plan ...

AlgiKnit, a biomaterials company specializing in kelp yarn, announces the opening of a new innovation hub in North Carolina’s famed Triangle Park.  Founded in 2017, AlgiKnit aims to cut the fashion industry’s carbon emissions in half with eco-conscious materials created mostly from kelp. The company spent four years developing new technology that can commercialize and scale the inventive fabrics, and the Triangle Park facility will provide additional research and development space, as well as accommodate in-house manufacturing and business teams. In March, AlgiKnit raised $2.1 million to help scale the company’s bio-yarns, building on previous investments from SOSV and Horizon Ventures. Globally, the ethical fashion market is expected to be worth $8.25 billion by 2023.  According to the company, 342 million barrels of crude oil are used annually in the production of synthetic fibers. Incredibly, the World Economic Forum has named the fashion industry the world’s third-largest polluter, due to the heavy use of fossil fuels in the supply chain.  AlgiKnit believes kelp-based fibers can dramatically change fashion’s environmental impact by offering a non-toxic, carbon-neutral material that is both highly versatile and sustainable. Kelp is a large algae that grows abundantly in dense, underwater forests close to shore. AlgiKnit processes kelp, one the fastest-growing and most renewable organisms on Earth, into functional textiles that can be utilized for garments, accessories and footwear.  “We know consumers need more cost-competitive, environmentally-sound material options that perform as well as conventional materials,” said Aaron Nesser, co-founder and CTO of AlgiKnit. “The yarn we’re producing ...

McDonald’s and Beyond Meat’s McPlant could roll out nationwide by late spring of 2022,  according to Wall Street analysts.  On November 3, McDonald’s began a trial run of the McPlant at eight restaurant locations in Texas, Iowa, Louisiana, and California. One month later, reports suggest the tests have hit desired sales targets, with each of the locations selling 70 burgers per day, according to the analysts.  Favorable forecast Michael Lavery, an analyst with Piper Sandler, believes such positive results may warrant a full nationwide expansion by the end of Q1 next year. Another analyst, Peter Saleh of BTIG, takes a more cautionary but still-optimist outlook, predicting a large regional rollout to 700 restaurants in February or March, followed by a national launch in 2023.   Beyond Meat’s exclusive McPlant patty is made from rice, peas and potatoes, and comes with tomato, lettuce, onions, pickles, ketchup, and non-vegan mayo and cheese. The McPlant is currently cooked on a shared grill with other animal products. “We’re always testing new items and flavors, and this particular test will help us understand how offering a burger with a plant-based patty impacts the kitchens in our restaurants,” McDonald’s said in a statement in October.  Big boost for Beyond Meat The McPlant menu item isn’t new – the burger has already debuted in Sweden, Denmark, the Netherlands, Austria and the UK. But it marks McDonald’s USA’s first long-awaited meatless burger option. If accurate, a 2022 launch far surpasses original predictions for the McPlant, and entering McDonald’s 13,600 US ...