vegconomist - the vegan business magazine

Swedish alt-meat company Oumph! is celebrating Halloween with an unusual new product. Residents of Stockholm will be invited to sample the first vegan burger to replicate the taste of human meat. Click here to see the video promoting the “scariest plant-based meat EVER!” “This Halloween, we really want to push some boundaries….” The special-edition burger is made from soy, mushrooms, wheat protein, plant-based fats, and a secret spice blend. It will be available on October 30 for one night only at Nytorget, Södermalm, Stockholm. “This Halloween, we really want to push some boundaries to show that we can make plant-based products that resemble any kind of meat. For us, the most human way of having a burger is a plant-based one,” said Henrik Åkerman, Global Brand Leader at Oumph! The rise of Oumph! When Oumph! first launched plant-based pulled pork in its home country of Sweden, it was an immediate hit. The company rapidly began to expand across Europe, including into the Netherlands, the UK, and Germany. In 2020, sales in the UK surged by 400%, and earlier this year Oumph! expanded outside Europe for the first time when it launched in Australia. Oumph!’s current product range includes plant-based pulled pork, meatballs, spare ribs, and sausages. The brand also recently launched döner kebab meat in Sweden and the UK. In June last year, Oumph! was acquired by The LIVEKINDLY Co. “Our goal has always been to transform the food systems in a way that the planet can ultimately feed ten ...

Oatly, the world’s largest oat drink company, has announced plans to open a new research and innovation centre at Lund University in Sweden. With the goal of further exploring the potential of oats, the centre will develop new oat-based innovations to meet the needs of consumers. Oatly expects to add around 30 new scientists to its global team based in Lund over the coming year. The alt dairy giant has also announced the potential to onboard up to 100 new researchers across its research hubs in Europe, the Americas and Asia. The company is experiencing impressive growth as demand for alt dairy products explodes globally. Making use of the unique skills and technology of Lund University’s academic environment, the Oatly scientists will study oats in greater detail from various perspectives including biochemistry, biophysics, microstructure, nutritional traits and refinement. The oat leader hopes that developments will accelerate its mission to drive a societal shift towards a plant-based food system. Construction has commenced on Oatly’s Science and Innovation Centre and is expected to be finished in 2023. Lund University and Veg of Lund This is not the first time Lund University finds itself at the forefront of plant-based research and innovation. One of northern Europe’s oldest and prestigious universities, the institute gave birth to plant-based innovator Veg of Lund, with the food tech recently partnering with Scandi Standard – the leading producer of conventional chicken products in the Nordic region and Ireland – to develop an innovative chicken alternative from local potatoes. ...

DUBLIN–(BUSINESS WIRE)–The “Global Algae Products Market by Type (Lipids, Carotenoids, Carrageenan, Alginate, Algal Protein), Facility Type, Form (Liquid, Solid), Source (Brown Algae, Green Algae, Red Algae, Blue-green Algae), and Region – Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering. According to the publisher, the global algae products market size is estimated to be valued at USD 4.7 billion in 2021 and projected to reach USD 6.4 billion by 2026, recording a CAGR of 6.3% during the forecast period. The awareness regarding the health benefits of algae products is one of the key factors that is gaining consumer attention. By type, lipids are projected to dominate the market during the forecast period Lipids are energy-rich organic compounds that are insoluble in water. Certain amounts of lipids are essential for healthy body functions. They help in absorbing and using vitamins A, D, E, and K in the human body. They are also important for internal signaling systems and are a part of cell walls. Omega-3, omega-6, and omega-9 are the different types of lipids. It is a unique form of dietary fats that impart a wide range of health benefits and are derived from algae. Algae have become the major alternative sources to produce lipids to fulfill the growing demand from the vegan population. By source, brown algae is projected to dominate the market during the forecast period Brown algae find application in aquatic feed and direct human consumption as food. It possesses anti-hypothyroid, antirheumatic, antibacterial, anticoagulant, and antioxidant properties; ...

Cult plant-based chicken producer Daring Foods announces an impressive $65 million Series C raise, as one of just a few companies to raise Series A, B and C in a single year. This brings Daring’s total raise to over $120M with earlier investors like Maveron, Palm Tree Crew, and rapper Drake. Daring also announces major retail expansion into over three thousand Walmart stores across the USA, doubling its distribution to 6,000 doors nationwide. The round was led by Founders Fund, joined by existing investor D1 Capital Group, alongside notable new personalities, athletes and celebrities like Naomi Osaka, Cameron Newton, renowned DJ Steve Aoki, and Chase Coleman. Founder and CEO Ross Mackay became vegan over a decade ago, after a fellow athlete “dared” him to try a vegan diet for a week. After years of R&D with researchers and food scientists in the UK, Mackay launched Daring Foods in the US in early 2020. Speaking in interview with vegconomist last year, Mackay said of his product’s USP: “We are unique because instead of offering a product that is meant to be an occasional swap, daring is something that consumers can actually eat every day. Our pieces come in delicious flavors that are simple and easy to use in a million different recipes, just like chicken. In addition to offering convenience and versatility, we are also setting the bar high for other plant-based brands when it comes to ingredients. Our offerings are created with a handful of recognizable, wholesome ingredients, whereas other ...

Singapore-based Sophie’s Bionutrients introduced the world’s first milk alternative made from protein-rich microalgae earlier this year. CEO and founder Eugene Wang now aims to shift the business to the Netherlands to tap into its plant-based protein ecosystem. Algae-based ingredients have piqued food industry interest in recent years as a sustainable, animal-free source of protein, lipids and micronutrients. Traditionally grown in open ponds, they are extremely fast-growing and require few inputs – but Wang sees an even better way to grow microalgae for food, based on fermentation using various food industry waste as feedstock. “Since I am trying to make it into foods, all I care about is the protein,” he explained. “I don’t care about the lipid. Since I am just caring about protein I can then use fermentation to increase production efficiency a lot, lot more. That’s how I stumbled on this technology.” Exploring alternatives With an MBA from Colombia University, Wang initially set out to become an investment banker, but soon realised it was not the lifestyle for him. Raised in Taiwan, in a family with a long-standing food business, he found inspiration from his daughter Sophie who was allergic to shellfish. In 2013, Wang started to investigate how he could tap into algae to develop seafood alternatives – and then discovered algae’s far broader potential. Sophie’s Bionutrients was officially launched in 2019, and the company introduced its milk alternative made from 100% microalgae in May this year. “The more I researched it, the more I realised that ...

Global fashion brand H&M has announced the launch of its first collection using alternatives to materials of animal origin approved by PETA. The Co-Exist Story range marks the first time a fast-fashion label’s collection has been formally PETA-approved. “The future of fashion is stylish and animal-free” The new partnership will see a collection of fashion-forward womenswear, menswear, and kidswear for its Co-Exist Story. The collection features a number of innovative animal-free materials, including FLWRDWN – a cellulosic material created with natural wildflowers – featuring in puffer shoes and jackets, padded trousers, and reversible quilted shoulder bags.  Other materials include VEGEA – upcycled from grape skins, stalks, and seeds discarded during winemaking – and ECONYL® fiber – a regenerated nylon created from waste like fishing nets and fabric scraps. The collection also includes shoes and accessories, including a vegan makeup set and kids’ T-shirts that declare, “Speak Up for Animals!” “Geese are loyal mates for life, cows are steadfast friends, and sheep are playful and affectionate—they are not jackets, shoes, or sweaters,” states PETA Corporate Responsibility Manager Laura Shields. “PETA is delighted to partner with H&M for a collection that shows shoppers from Stockholm to Shanghai that the future of fashion is stylish and animal-free.” The collection will be available at select H&M stores worldwide as of November 4, as well as online.    ...

PURIS, the leading supplier of pea protein in North America, has officially opened its new production plant in Dawson, Minnesota. The facility will more than double the company’s production capacity. First announced in June, the opening of the plant means that PURIS now has the only vertically integrated, multi-plant pea protein production model in the U.S. It should enable the company, which has notable clients such as Beyond Meat, to supply half of North America’s demand for pea protein. The new facility was made possible by investments, including significant funding from global agriculture corporation Cargill. PURIS also received $25 million from an undisclosed investor last year. Pea protein shortages The opening of PURIS’ 200,000 square foot plant is timely, as there are increasing concerns about shortages of pea protein. This year, Canada’s worst drought in decades led to a 45% drop in pea production in the country, while in France, crops were damaged by unusually wet weather. This has led to a surge in prices, with warnings that the increases will inevitably be passed on to the consumer if things do not improve. But PURIS’ new facility could help to mitigate these shortages. “This is more than a pea protein processing plant. We’re shaping the future of food,” said Tyler Lorenzen, CEO of PURIS Proteins. “The model we’ve built puts sustainable partnerships in reach for brands of all sizes. There’s impact at every level — it supports a local economy here in Dawson, introduces peas as a revenue stream for ...

Aqua Cultured Foods, a female-led foodtech company using fermentation to produce seafood alternatives, has raised $2.1 million in its pre-seed funding round. According to Aqua, the oversubscribed round is the largest ever pre-seed in alt-seafood, and one of the largest ever in fermented proteins. Participants included Supply Change Capital, Aera VC, and Sustainable Food Ventures. The funding will be used to speed up research and development to enable commercialisation of the company’s products. What sets Aqua apart from many other alt-seafood companies is that it produces whole-muscle, sushi-quality fillets. Currently, the company is able to make alternatives to tuna, whitefish, popcorn shrimp, calamari, and scallops, using a proprietary fungi strain as a base. Aqua claims it was the first company ever to produce whole muscle seafood using fermentation. A growing team Recently, Aqua has added some notable members to its team. Bob Schultz, former lead food engineer for fast-growing plant-based nugget brand Nuggs, is the company’s new lead scientist. And executive chef Johnny Carino, owner of the restaurant chain Carino’s Italian, is now Aqua’s head of culinary innovation. “Interest at this stage has frankly exceeded our capacity to bring in partners, leading to an oversubscribed round, but it’s left us in a good position for future investment and very optimistic about our approach to delivering more sustainable protein,” said Aqua CEO Anne Palermo. “Our next step is to work on commercializing our products from lab-scale to bring to the foodservice and retail channels, including the fresh refrigerated set for grocery, ...

WTH Foods announces a raise of USD $1.2million in seed funding, the launch of an R&D facility, and expansion plans to Singapore as well as other markets across Southeast Asia and globally. The company uses over 60 types of plants in the creation of 60 dishes, aimed at the more than 2.2 million Filipinos living away from home. WTH Foods has also developed a new line of products called Unami, featuring plant-based versions of popular Asian processed meats such as sausages and luncheon meat, due for a 2022 launch. Additionally, the company reports it has co-developed a seaweed-based chicken product with Singapore Institute of Technology food scientists. Investors in the round include Big Idea Ventures and Henry Soesanto, CEO of Monde Nissin, a Philippines based corporation that acquired Quorn Foods in 2015. “Many people love the taste of meat but are looking for healthier and more sustainable options. At WTH Foods we are developing plant alternatives for meat lovers, the same texture and taste of their favorite dishes but with the added health and sustainability benefits,” said Stephen Co, Co-Founder & CEO of WTH Foods. “This funding will help us accelerate the development of these products and reach more markets across Southeast Asia and around the world so people can enjoy popular dishes guilt-free.” ...

IFFA, the leading trade fair for the global meat industry, has placed alt protein production high on the list of its top themes for 2022. Sustainability and the requirements for the production of meat alternatives will be highlighted at IFFA 2022, as the trade fair looks to reflect changes in consumer behavior. “A market for vegetarian and vegan products with high growth rates has established itself all over the world. To meet this demand, manufacturing capacities have to be created or converted” High on the agenda of IFFA is climate-neutral production – a goal set by the EU in the Green Deal by 2050. The increasing needs of alt protein production and a rise in flexitarianism will be reflected as such, as well as energy and resource efficiency, food waste, and packaging concerns. Modern production plant technology will be showcased at IFFA 2022, making a major contribution to raising the production of vegan products, reducing costs, and increasing food security. IFFA 2022 will therefore showcase both the process technology of meat and of alternative protein – both plant-based and cell-cultivated meat. Automation and digitalization are also key issues for the IFFA 2022 fair. Consumer Demand In a recent interview with vegconomist, Johannes Schmid-Wiedersheim, Director of IFFA explained: “We decided to expand the spectrum of IFFA and include process technology for plant products and meat from cell cultures in its range.” “In the meantime, consumer demand for alternatives to meat and fish has increased significantly, and a market for vegetarian and ...