vegconomist - the vegan business magazine

After three consecutive years of triple-digit revenue growth, UK ‘chef-to-customer’ service allplants has finalized a record-breaking £38 million Series B funding round. The raise marks the biggest ever Series B round for a European plant-based food business. “In the five years that we have been cooking, we’ve seen the demand for plant-based food explode” Following allplants’ record-breaking crowdfunding as well as Series A round, the fresh £38 million round included new investors such as purpose-driven CPG fund The Craftory, and former England international footballers Chris Smalling and Kieran Gibbs. Allplants puts its continued growth down to its serving of the rapidly growing ‘plant-curious’, or flexitarian market, a sector it has specifically targeted with its ‘We’re allplants. You don’t have to be’ marketing campaign. The brand claims that over two-thirds of allplants customers are not vegan or vegetarian. Likewise, in a recent interview with vegconomist founder and CEO Jonathan Petrides revealed; “76% of these investors are not vegan, and 73% of investors believe there is a lack of healthy and nutritious plant-based meals available in the UK” – while talking about allplants’ £4.5 million crowdfund campaign. 6X Production Facility Increase  Founded by Petrides and his brother Alex, the company’s revenues have more than doubled every year since launching in 2017. allplants will use the latest investment to increase its plant-based kitchen in Walthamstow, North London, to six times its current size, and build scalable capacity for rapid distribution into other channels. The company will also look to bring new talent into ...

Innova Market Insights has published its Top Ten Trends for 2022, which reveal that global sustainability has overtaken personal health as consumers’ biggest concern. Consumers expressed a sense of shared responsibility for the future of the planet, and said this was influencing their everyday purchasing decisions. In terms of food choices, the most popular environmental changes were reducing waste (43% of respondents) and eating in moderation (32%). However, health is still a big concern for many, particularly in the wake of the pandemic. As a result, increasing numbers of consumers are eating more plant-based foods, for both health and environmental reasons. Many companies are attempting to cater to this rising demand, which caused launches of plant-based products to increase by 59% in the year to August 2021. As consumer concern about sustainability continues to increase, the trend towards plant-based eating is likely to be unstoppable. A report this March found that 30% of people worldwide already support plant-based diets as a climate policy, and another found that the shift would be essential to protect biodiversity. In June, a group of 60 scientists, including Dr. Jane Goodall, told the European Commission that overproduction of animal products was causing huge damage to the environment. “One of the biggest shifts we are seeing is that the health of the planet is now the top concern of consumers,” said Lu Ann Williams, Global Insights Director at Innova. “Sustainability is no longer just a Wall Street issue. It might not be the top purchase driver ...

Leading UK pie brand Pukka has added a third plant-based option to its range. The company has partnered with cheese company Norseland, the makers of Applewood Vegan, to produce the Vegan Smoky Cheddar Flavour & Onion pie. The new product contains diced onion and potato in a smoky vegan sauce made from Norseland’s award-winning plant-based cheese. The filling is wrapped in Pukka’s signature 144-layer puff pastry. The pies are now available at Morrisons, with a RRP of £1.89. They will roll out at Tesco early next month. It’s been just over a year since Pukka launched its first plant-based products, Vegan Minced Steak & Onion Pie and Vegan Chicken & Mushroom Pie. The launch was timely — a survey earlier this year found that pies and pastries top the list of products that British consumers want to see more plant-based versions of. And at this year’s British Pie Awards, the vegan category received more entries than any other. “As The People’s Pie, we’re always listening to the people of Britain – who have told us they want a vegan cheese pie recipe. Enter the newest member of our vegan family, which joins our popular Vegan Chicken & Mushroom and Vegan Minced Steak & Onion pies to bring the nation three plant-based Pukka recipes to choose from,” said Rachel Cranston, Head of Marketing and Innovation at Pukka. ...

Israeli alt-meat company Redefine Meat has hired Edwin Bark and Adrian Sagman, former executives at Nestlé and Unilever respectively, as part of its aggressive global expansion plans. Bark will take on the role of Senior Vice President and General Manager, EMEA. He has extensive industry experience, having previously been the Managing Director of Nestlé’s European Plant-Based Food Division for several years. He also recently led the establishment of the largest plant-based meat manufacturing plant in Europe. “I am very passionate about health and sustainability, and fully committed to helping repair the world’s broken food system by disrupting the meat industry with New-Meat,” Bark said. Adrian Sagman has been hired as Redefine’s Director of Global Sales and Business Development. Previously, he held various business and marketing roles at Unilever over the course of a decade, and he has 13 years’ experience of managing sales in the food industry. “Redefine Meat perfectly aligns with my experience of expanding businesses into new territories and creating market demand,” said Sagman. “But there is also something special about this company: the quality and diversity of meat products, the technological innovation behind it, and the inspirational team at the helm who share my vision of making this world a better place.” Bark and Sagman aren’t Redefine’s only new hires this year — in May, it appointed Alon Bar-Shany, former VP and General Manager of HP Indigo, as Executive Chairman. The company has had a successful 2021, commercially launching its first 3D-printed plant-based meat range this summer ...

Rubio Impact Ventures has closed its second fund with €110m, almost 40% more than its initial target. It now manages €150m of impact capital, four times more than this time last year. With this second raise, Rubio plans to fund over 30 impact-focused companies, from Seed to Series A. It used its first fund to invest in eleven companies, including cultivated meat startup Mosa Meat, litter collection app Litterati, and fair coffee brand Wakuli. Rubio says its rapid growth is proof that the momentum for impact investment is accelerating, which it says is “incredibly exciting”. Several other impact funds have launched in recent years; for example, Five Seasons Ventures recently announced a €180 million second fund for consumer-focused food startups with a quantifiable environmental or social impact. And earlier this year, Beyond Impact launched its Vegan Diversity Fund for vegan, cruelty-free, and animal-replacing products and services. “We want to thank our early days investors in the first and second fund for their trust in our mission and a warm welcome to all the new investors that are joining us,” said Rubio in a statement. “We are excited to continue our mission and inspiring others in the venture capital market to shift towards ever more impact!” ...

Violife, the leading vegan cheese brand in the UK, has launched a festive selection box containing four of its products. The box includes a brand new cheese variety, Mozzarella Flavour With Cranberry. The other products in the pack are the EPIC Mature Cheddar Flavour, the Smoky Cheddar Flavour, and the Crumbly Greek White. Additionally, the box contains three festive coasters printed with recipes featuring the cheeses. It is now available at both Sainsbury’s and Tesco, retailing at £6. International expansion Violife has gone from strength to strength in 2021. Over the summer, it launched another cheese selection box called the Vegan BBQ Pack, and it also debuted vegan butter and smoky slices earlier this year. Recently, it partnered with pizza chain Papa Murphy’s to offer plant-based pizzas across the US. It is now the fastest-growing vegan cheese brand in North America, and is already widely available across Europe. “At Violife, we celebrate living life to its fullest — which is why we wanted to create a selection that offers shoppers everything they need to celebrate with family and friends this Christmas,” said Bianca Harris, Senior Marketing Manager at Violife. “The four indulgent flavours, including all new Mozzarella Flavour with Cranberry, are all 100% vegan and pair perfectly with grapes, chutneys and crackers, or can be used in a range of warming winter dishes, to provide a festive spread that is suitable for everyone to enjoy.” ...

DUBLIN–(BUSINESS WIRE)–The “Almond Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering. The Global Almond Market is projected to register a CAGR of 4.5 % during the forecast period 2021-2026. Key Market Trends Growing Inclination Towards Healthy Snacking The preference for healthy and nutritious snack food is expected to help maintain steady growth in the developed markets. The changing consumer lifestyle, rapid urbanization, high disposable income, are increasing the demand for on the go healthy convenience foods, thereby fuelling the ready-to-eat food market growth. Changing food consumption behavior among consumers, increased willingness to spend on such food are the results of rapid urbanization, and increasing disposable income, which also helps in increasing the food expenditure of the final consumer. Manufacturers are launching innovative and health approached products consisting of almonds either as a whole or as an ingredient and expanding their business in the healthy snack segment globally. These products are gaining praises of vegan and highly health-conscious consumers. North America is Leading the Market in Terms of Production North America accounts for the major share in the global market for Almonds, owing to the increased Production, Consumption, and Export. The United States continues to capture the largest market share for almonds. According to the FAO, the almond production in 2019 accounted for 34,97,148.0 metric ton up from 32,24,900.0 metric ton in 2018, witnessing an increase of 8.0%. According to the International Trade Centre, India, China, Turkey, and United Arab Emirates ...

Rock singer Bryan Adams has invested in a new Canadian plant milk brand called bettermoo(d). Adams, who is also Canadian, is a longtime advocate for the benefits of a plant-based diet. He said he was excited about the partnership. “Fostering responsible eating habits, such as choosing plant-based dairy alternatives, is something that we can all do to help lessen animal cruelty and help our environment,” he said. Bettermoo(d)’s CEO Nima Bahrami initially reached out to Adams on Instagram, and said he was “shocked” to receive a response. After sampling the product, Adams agreed to become a shareholder in the company. Bettermoo(d)’s first product will be a milk alternative called Moodrink, which is made from oats blended with herbs and vegetables. The company claims the blend is similar to what cows would have eaten before the rise of industrial agriculture. It plans to launch Moodrink over the winter, in various flavours such as chai and matcha. The brand will go on to produce a range of dairy alternatives, from cheese and yogurt to butter and sour cream. Bryan Adams isn’t the only celebrity opting to invest in plant-based foods. Recently, a huge lineup of stars including Ryan Tedder and Aaron Paul participated in Bachan’s latest funding round, while star footballer Chris Smalling helped to fund Heura’s alt-meat products. Last year, celebrities such as Woody Harrelson and Paris Hilton invested in Good Catch’s plant-based seafood, while Snoop Dogg and basketball player JaVale McGee were among those who funded Outstanding Foods. “Being plant-based ...

In partnership with Miyoko’s Creamery, Seattle-based ice cream brand Frankie & Jo’s has launched a new vegan ice cream flavor. Miyoko’s Butter Toffee & Chocolate ice cream features creamy caramel and bite-sized butter toffee bars, made with Miyoko’s cultured vegan butter, that are dipped in rich dark chocolate.  “Miyoko’s creamery is transforming the animal-free future of dairy and shares our vision of reducing our dependence on animals for our food, our traditions, and our daily lives” Like all its plant-based flavors, the ice cream is available to ship across the US as well as being available in Frankie & Jo’s Seattle-based shops. The ice cream specialist is encouraging customers to use the code “PLANTMAGIC” on Miyoko’s site to get 10% off orders for the month of October. Founder and CEO Miyoko Schinner has been at the forefront of the alt dairy movement since founding Miyoko’s Creamery in 2014. In August, the brand announced a huge $52 million Series C funding raise, to keep developing “game-changing products that can help change the dairy landscape from animals to plants”, as Schinner told vegconomist in a recent interview.  “We’ve been patiently waiting for the day we’d get to partner with @miyokoschinner, founder and CEO of @miyokoscreamery. This month’s indulgent seasonal flavor, miyoko’s butter toffee & chocolate, takes you back to the nostalgia of childhood,” Frankie & Jo’s commented via social media.  ⁠“Covered in a bed of caramel ice cream, the butter toffee bites are dipped in rich dark chocolate and are irresistible. Miyoko’s ...

New vegan pet food brand Noochy Poochy has declared its intention to revolutionize the plant-based market with its new complete vegan formula. With the brand’s name coming from its use of nutritional yeast – known as ‘nooch’ – the brand claims its food has the most comprehensive nutrition profile on the market.  “D3 is usually obtained from sheep’s wool, but we found a cutting edge producer making it from algae” Formulated by a vegan vet and an animal nutritionist, the Noochy Poochy vegan dog food contains select organic ingredients, a 28% protein content – higher than most meat-based dog foods according to the brand – and an omega fatty acid 6:3 ratio of 4 to 1, as well as amino acids L-carnitine, DL-methionine, and taurine. The brand has achieved accreditation from The Vegan Society, PETA, and The Ethical Company Organisation, amongst others. Alt Pet Food  Noochy Poochy arrives on the scene at a busy time in the plant-based and meat-free dog food segment. Consumers are becoming increasingly aware of dog’s ability to thrive on a vegan diet, with producers seeing success around the world, including V Planet and Wild Earth in North America, VegDog in Europe, as well as cultured pet food innovator Bond Pet Food, and fellow UK brands HOWND and THE PACK. “One of the biggest dilemmas we faced when creating a plant-based formula was around vitamin D3 which is needed to ensure a ‘complete’ dog food. D3 is usually obtained from sheep’s wool, but we found a ...