vegconomist - the vegan business magazine

Korean food and beverage leader Yangyoo is set to reveal its new vegan cheese line, as the big data-led company looks to increase its presence in the plant-based space. Meanwhile, North American dairy-free giant Daiya Foods announces a sales and distribution partnership in South Korea, following a partnership with Hyundai Green Food.  Seoul-based Yangyoo will exhibit its vegan cheese for the first time at CES 2022 – one of the most influential tech events in the world. Developed by Armored Fresh, its US subsidiary, the vegan cheese line is developed with plant-based protein fermentation and features six types, including camembert and burrata.  Daiya Foods meanwhile has shared details regarding a new partnership with Hyundai Green Food to meet the growing appetite for plant-based foods in South Korea. Under the new agreement, Hyundai Green Food will lead the sales and distribution of Daiya’s dairy-free cheese line in 15 formats, as well as Daiya’s plant-based meal products like pizza, burritos, and frozen desserts. Alt protein in South Korea Although the alt protein market in South Korea is still emerging, it has taken big strides of late, particularly in the biotech sphere. South Korean biotech company Advanced Protein Technologies recently secured €15 million funding from French ingredient giant Roquette, while Seoul-based CellMEAT recently announced a pre-series A funding round of $4.5 million for its cell culture medium without fetal bovine serum.  According to research by the Korea Vegetarian Union in 2020, there are about 500,000 strict vegans living in South Korea and about ...

Multinational technology company Lenovo has launched a range of sustainable laptops featuring vegan leather. The ThinkPad Z Series “reflects changing attitudes towards technology, its impact on the environment and the origins of raw components”. Laptops in the series have a vegan leather cover made from 100% recycled polyethylene terephthalate, meaning no new fossil fuels are required to produce it. The body of the laptops features 75% recycled aluminium, while the power adapter is made from 90% post-consumer content. The PCs are also sustainably packaged in recyclable and compostable bamboo and sugarcane. According to Lenovo, the Z Series features high-performance processors, excellent battery life, and an improved webcam, microphone, and speakers. Vegan technology Lenovo is not the only tech company to have developed a more sustainable laptop — last June, HP unveiled the Elite Folio PC, which has a vegan leather cover and a recycled aluminium chassis. Meanwhile, London-based vegan accessory brand Oliver Co recently launched a vegan leather laptop sleeve, while Taiwanese manufacturer General Silicones has developed soft faux leather especially for tech products like VR headsets and glasses. “We are immensely proud of our ThinkPad heritage but there is little time to reflect, and we will also strive to delight new customers as well as existing ones. Innovation is in our DNA from design and development to engineering and supply chain,” said Jerry Paradise, vice president of the Global Commercial Product Portfolio at Lenovo PC and Smart Devices. ...

Remilk raises $120 million as part of its mission to “reimagine the dairy industry”. Israeli startup Remilk, which is developing cultivated milk proteins without the cow, has raised $120 million in an oversubscribed Series B funding round. The round was led by Hanaco Ventures, with participation from Precision Capital, Rage Capital, CPT Capital, and more. Remilk says it will use the funding to scale production of its dairy-identical proteins, so that manufacturers can begin using them in products such as cheese and ice cream. Remilk produces its animal-free proteins using a scalable yeast-based fermentation process. According to the company, the process requires just 1% of the land, 4% of the greenhouse gas emissions, and 5% of the water of producing the equivalent dairy proteins. “Liberating the food chain” Remilk first came onto the scene in 2019, and the following year it was included in the fourth cohort of the ProVeg Incubator. At the time, the company had just finished raising seed funding, and just seven months later it raised $11.3 million in its Series A round. “It is essential for the future of our planet that we liberate the food chain from dependency on animals. We do so by crafting real dairy that tastes and feels the same, minus the cow,” said Aviv Wolff, CEO and co-founder of Remilk. “Our mission is bold, and support from these experienced and trusted investors demonstrates the power of Remilk to meet the moment. This funding propels us on our journey to transform the ...

Premium ice cream maker Ben & Jerry’s announced the addition of two new plant-based flavors to the company’s ice cream lineup. The Non-Dairy Boom Chocolatta and Non-Dairy Bananas Foster bring the brand’s official dairy-free count to 20 products. Both flavors are also being released as part of the Core range – ice cream filled with a dense, spoonable center down the middle of the pint.  The Boom Chocolatta pint features mocha and caramel ice cream combined with fudge flakes, gluten-free chocolate cookies and a gluten-free chocolate cookie core. While Ben & Jerry’s usually offers dairy and vegan versions for each flavor, the new Bananas Foster is exclusively made for the Non-Dairy line. The ice cream consists of a banana and cinnamon base mixed blended with almond toffee pieces around a salted caramel core. In an effort to make the company’s desserts accessible to more fans, the new products are certified gluten-free, in addition to being dairy-free and vegan. “Our flavor gurus believe in creating concoctions for all,” said Dena Wimette, Head of Innovation for Ben & Jerry’s.”We want everyone to be able to have some Ben & Jerry’s joy, including those who choose gluten-free.” Innovating dairy-free dessert With the latest additions, plus the debut of Non-Dairy Mint Chocolate Chance in December, Ben & Jerry’s product portfolio is now almost 40% dairy-free. The company first entered plant-based desserts in 2016 with the release of four almond milk-based flavors: Chocolate Fudge Brownie, Chunky Monkey, PB & Cookies, and Coffee Caramel Fudge. Since then, ...

Krispy Kreme is kicking off 2022 with a new assortment of vegan doughnuts for consumers in Ireland. The new range consists of Fudge Brownie Bliss, Caramel Choc Delight and Apple Custard Crumble, which will be available to purchase in Swords Pavilion, Blanchardstown, The Rocket at Dundrum Town Centre, at any Krispy Kreme cabinet in Tesco and Circle K, or via delivery partners including Deliveroo, Uber Eats and Just Eat. Fudge Brownie Bliss (€ 3.05) – with a rich chocolatey filling and topped with brownie pieces Caramel Choc Delight (€ 3.05) – which contains both Belgian chocolate and indulgent caramel fillings, topped with caramel icing and a chocolatey icing drizzle Apple Custard Crumble (€ 3.05) – filled with smooth custard and apple then topped with a golden cinnamon crumble Louise Direito, Krispy Kreme UK and Ireland’s Head of Innovation said: “We are really excited to bring this range to customers and spread a little joy in January and are confident it delivers on the irresistible taste we are known and loved for whilst being accessible to a broader network of customers.” Ericka Durgahee, Marketing Manager at The Vegan Society, said “The Vegan Trademark team are thrilled to see Krispy Kreme expanding their vegan options and making them available across the country. They’ve gone the extra mile to verify their vegan claims with the gold standard in vegan labelling. Those looking for a fresh and tasty doughnut can have peace of mind that no animal ingredients have been used in their creation.” ...

On January 20th, ProVeg Incubator will present Future Food Series: Algae, the sixth event in the Future Food Series. Along with Zintinus, the event will explore the wonderful subject of algae and its diverse applications across the food industry. The event features guests including Algama Foods, Oceanfruit, Betterfish, Genesea, Sophie’s Bionutrients, and EABA. The power of algae in food tech It is estimated that there are over a million species of algae worldwide. Algae have all of the essential nutrients required for human health, are an important source of protein, and are among the most sustainable resources on our planet. The global market size for algae products reached an estimated value of $4.7 billion in 2021 and this is projected to grow steeply in the coming years. Seaweed can become a game-changer in tackling climate change and environmental challenges, since it binds CO2 and needs no water, land or energy to grow. What to expect Our guests are pioneering startup founders and experts in all things algae. What applications of algae are the most promising? Which products will we see on the markets and when? How does the scale-up of algae products work and what are the regulatory hurdles? With our guests, we will discuss the tech, the challenges, and the impact of algae on the way towards a transformed global food industry. The Panel Alvyn Severien, CEO and Co-founder at Algama Foods Jacob von Manteuffel, Co-founder at Oceanfruit and betterfish Alex Golberg, Co-founder at Genesea Eugene Wang, Co-founder at ...

The Live Green Co has raised $7 million in Pre-Series A funding to make food cleaner and more sustainable with AI-driven plant-based ingredients. The company reports it has increased revenue by 10x since 2020. Founded in Chile in 2018, the food tech startup hopes to usher in “Plant-Based 2.0” –  shifting alternative protein from removing animal products to also eliminating processed ingredients and plastic packaging. To fulfill this bold mission, The Live Green Co is relocating to Boston, MA where the company will develop the AI capacities of Charaka, its proprietary intelligence platform. An AI recommendation engine Through Charaka, The Live Green Co leverages machine learning and the “ancestral wisdom” of plant nutrition to analyze thousands of plants and plant combinations. This information is used to create a database that can then determine healthy alternatives to synthetic and animal-based food ingredients. The use of artificial colors, flavors and preservatives remains common throughout the food industry, including the production of plant-based foods. By replacing such additives with clean and functional plant-based ingredients, Live Green believes the company can fundamentally transform the global food system. The latest funding round was led by Boston’s DRADS Capital and included Draco Capital, Chile’s Fondo Alerce Venture Capital and Mexico’s NOA Capital. The startup says the new funds will be used to set up US headquarters, enhance Charaka’s AI capabilities, bolster IP protections, and build B2B licensing and manufacturing relationships. Early Success in Chile The Live Green Co says the company has already completed successful pilot ...

BlueNalu recruits Mary K. Wagner, a senior food executive previously serving at Starbucks, Mars, Gallo Winery, Yum! Brands and General Mills, and past president of the Institute of Food Technologists, as its first independent board member. “I’m eager to apply my expertise at BlueNalu, where there is an extraordinary potential impact to help our environment and feed our planet in the decades ahead” BlueNalu secured the largest ever financing to date in the cell-based seafood industry worldwide when it raised $60 million in January last year. Since then, the San Diego cellular aquaculture specialist has made great strides, including an agreement with Europe’s leading frozen foods supplier – Nomad Foods, – marking the first agreement in Europe between a CPG company and a cultivated seafood company. In its next stride forward, BlueNalu today announces the appointment of Dr. Wagner, who currently serves on the boards of Griffith Foods, BlueNalu, Premium Brands Holdings, and Jones Dairy. Dr Wagner is past president of the Institute of Food Technologists (IFT), the largest and most respected organization in the food technology arena worldwide.    Her career experience includes positions such as: Senior VP of global product innovation, food safety and quality at Starbucks Chief Science Officer/General Manager for Mars Botanical Chief Technology and Quality Officer at E&J Gallo Winery, Chief Technology and Quality Officer at Taco Bell for Yum! Brands  VP of R&D, quality Regulatory Operations at former General Mills subsidiary Gorton’s Seafood. “The diversity and depth of Mary’s experiences in the food industry, and the ...

ITC Limited – one of the biggest conglomerates in India – is to officially enter the plant-based meat space. The significant move from the FMCG and agri-business giant represents the first from a company of its scale in the emerging Indian plant-based market.  “Smart protein and plant-based meats are a generational opportunity” Looking to supply sustainable protein across the subcontinent, the entry of ITC – whose annual turnover was $10.74 billion in 2020 – is likely to also impact the export market. ITC will first launch plant-based burger patties and chicken nuggets through retail, e-commerce, and food service establishments in the country’s top 8 cities.  Hemant Malik, Divisional Chief Executive of Foods at ITC Ltd explained that; “There is no large pan-Indian brand in the plant-based protein segment in India”, referring to the challenges of the market in a country with a population of over 1.3 billion people. He went on to estimate the market at $45 billion and state that ITC aims to; “enjoy the early mover advantage in India.”  Indian plant-based market  The considerable move has been advised by nonprofit Good Food Institute India (GFI India) whose expert research has opened the eyes of ITC to the nascent plant-based meat landscape in India. Research by GFI India indicates that 63% of non-vegetarians among urban populations would be extremely likely to purchase plant-based meats on a regular basis. Other companies like Ireland’s Kerry Group and Japan’s Next Meats are also making moves in the space, while homegrown brands like ...

Iconic cream cheese brand Philadelphia has launched a new plant-based alternative available to buy across the UK in Tesco. The freshly launched Philadelphia Plant Based has been developed over two years, combining oats and almonds for a dairy-free option.  “With over half a million people taking part in this year’s Veganuary, the appetite for plant-based alternatives has never been more apparent” Produced by Mondelēz International, one of the largest food and beverage multinationals in North America, Philadelphia Plant Based will be launched in the brand’s 100% recyclable packaging, to be made with recycled plastic later in 2022. Looking to move away from the controversies of its past, Mondelēz has reportedly set long-term sustainability and well-being targets and has recently acquired Hu – a fast-growing plant-based snack company.  Vegan cream cheese market The vegan cream cheese market has exploded over recent years, with options from Miyoko’s, Oatly, The Simple Root, and Treeline just some of the brands active in the segment. Philadelphia Plant Based is now available exclusively at Tesco supermarkets in the UK and online, priced at £2.50 for a 150g tub. “With over half a million people taking part in this year’s Veganuary, the appetite for plant-based alternatives has never been more apparent. We’ve worked hard to make sure new Philadelphia Plant Based really delivers the same great taste and creaminess that people love and expect from Philadelphia and we’re delighted that there’s now a Philadelphia product for everyone – not a bagel or slice of toasted sourdough ever ...