vegconomist - the vegan business magazine

Help push the vegan business world forward and reflect market changes in order to inspire further change! We are seeking a freelance part-time writer in a US timezone to report on North American business news in plant-based and cell-based industries, in adherence to our style. Must have writing experience and a current knowledge of the market, be preferably vegan or at least flexitarian, and have a flexible schedule. You should be passionate about vegan business and ideally be familiar with the key players. Since we are a remote-only company, ideally you are good at using digital tools for collaboration and are open to try new ones on a semiregular basis. Write for readers in over 160 countries, more than 10,000 newsletter subscribers, 25,000 LinkedIn followers, over 150,000 decision-makers and co-decision-makers, investors, influencers, multipliers and many others in the plant- and cell-based business every month globally. The workload will be modest at first, perhaps 5 – 10 articles per week. Please send your detailed application with an idea of your rates to our editor-in-chief: [email protected]   ...

For the first time in history, plant-based foods have been given priority in an agricultural agreement, with a large majority of Danish political parties behind it. The Danish Plant-Based Foods Association announces that an action plan must now be created to promote plant-based foods in Denmark. An incentive for green conversion of agriculture as part of the EU’s new greener agricultural subsidy will mean that 580 million DKK ($90M) will be available for at least five years to farmers who produce plant-based foods. A fund of DKK 75 million DKK (11.7 million USD) annually from 2022 to 2030 will help to support the plant-based transition of food. Danish consumers are a big part of the green transition Last year, 6 out of 10 Danes answered that they agreed that Denmark should take the lead in terms of being the best at producing plant-based foods. In six years’ time, the market for plant-based food in Western Europe is expected to be worth 460 billion DKK and 870 billion DKK two years later. “The agricultural agreement is an important step in the right direction. In the Danish Plant-Based Food Association, we welcome the fact that plant-based foods have been given a central place in the agreement. It testifies that there is a political will for more plant-based – from farm to fork” says head of secretariat in the Danish Plant-Based Food Association, Frederik Madsen. He emphasizes the Minister of Food, Agriculture and Fisheries Rasmus Prehn’s persistence in the negotiations and the focus ...

After its recent US expansion, vegan fried chicken producer VFC today announces that from World Vegan Day on 1st November, its first major retailer listing will commence with Tesco, the UK’s largest supermarket chain. Derek Sarno, Director of Plant-based Innovation at Tesco, enthuses: “I’m thrilled that Tesco is the first large retailer to bring VFC to the mainstream market. The plant-protein market is growing rapidly, and VFC brings something genuinely exciting to the sector. With no compromise on flavour, it offers a delicious alternative that will help make eating plant-based easier – and tastier – than ever.”   The products rolling out into 370 Tesco stores less than a month from now will be: VFC Original Recipe Chick*n Fillets, 220g RRP £3 VFC Original Recipe Popcorn Chick*n, 250g, RRP £3 VFC Original Recipe Chick*n Bites, 275g RRP £3.50 The Tesco launch will be supported by an advertising campaign covering the London Underground, bus sides and roadsides across London, followed by roadside and high street ads across Manchester, Bristol, Brighton & Hove, and Kent, a week later. Co-founder Matthew Glover states: “We’re incredibly excited to be working with Tesco to bring VFC into mainstream grocery. As the new vegan brand on the block, we couldn’t be happier to join the range of quality vegan products already offered by Tesco, and to be injecting a little passion into the sector. Our mission, of course, is to disrupt the current food system that is tied to factory farming, slaughterhouses and environmental degradation. And ...

GFI Founder and CEO Bruce Friedrich explores the increased sector alignment around the preferred category name for meat produced through cellular agriculture. Consumer and industry preferences In September 2019, UPSIDE Foods and The Good Food Institute (GFI) released the results of consumer research that we conducted with Mattson, North America’s most successful independent food and beverage innovation firm. That research indicated that the strongest term for meat produced through cellular (rather than conventional) agriculture is “cultivated meat,” as I discussed in some depth here. UPSIDE CEO Uma Valeti noted, “This made sense to us, since we’d already been referring to ‘cultivating meat in cultivators.’ I like the consistency.” Fork & Goode CEO Niya Gupta said, “I like ‘cultivated meat’ because it’s generic, like ‘organic.’ It can cover a very complex process that we have to be transparent about.” Since that work, quite a few companies have been using “cultivated meat” as their primary nomenclature. For GFI’s 2020 industry report, our analysis indicated that 37 percent of companies were using “cultivated,” 25 percent of companies were using “cultured,” and 18 percent of companies were using “cell-based.” The final 20 percent were using a variety of other terms to describe their meat production process. That has changed—a lot. Companies now prefer “cultivated meat” by a wide margin In September 2021, we polled company CEOs on their preferences and found a significant shift, with 75 percent of the 44 companies that replied preferring “cultivated.” “Cultured meat” comes in second at 20 percent, and ...

Analysis by the FAIRR Initiative shows that 2021 is “the year of cultivated meat,” with $506 million invested so far this year into cultivated meat firms, already far surpassing previous years.  The report has also found consumer demand for alt protein products in North America is exploding, with 39% of US households now buying plant-based milk and plant-based food sales rising to nearly twice as much as overall US retail food sales last year. FAIRR’s research shows how cultivated meat – a genuine slaughter-free animal protein source – experienced a sixfold increase of investment to reach $366 million in 2020, but that total has already been exceeded in 2021, which so far has seen investment of $506 million into cultivated meat firms.  Eat Just’s GOOD Meat cultivated division recently became the most funded company in the field to date with $267 million raised, while cultivated meat pioneers Aleph Farms and Mosa Meat have both received backing from celebrity investors like Leonardo Dicaprio.  The UK Leads the Way  The report also found how UK retailers Tesco and Sainsbury’s are showing global alt protein leadership compared to their US and European peers. Tesco has committed to a 300% increase in sales of meat alternatives by 2025, as the report cites a staggering 40% increase in plant-based diets in the UK in 2020.  However, another recent study has found that cell-cultured meat could add £2.1 billion to the UK economy by 2030, along with creating 16,500 jobs over the next decade providing the ...

TurtleTree, the Singapore based producer of the world’s first human breast milk created with cellular technology, has officially announced the opening of a new R&D facility in West Sacramento, which will develop precision fermentation technology, marking a “significant stride towards the production of consumer-ready milk and dairy” according to the company. The company, whose recently launched subsidiary Turtle Tree Science is working to bring cell-based meat and dairy products to market, produces milk ingredients such as lactoferrin – a protein usually derived from cow’s milk which the team has optimised for humans from the blueprint of human breast milk. Turtletree announced this June it was preparing to commercialise the lactoferrin as its first product to market. The new facility is set to create around 40 new tech-related jobs around the Greater Sacramento area, from food science to engineering, and will also serve as a base for TurtleTree to connect and collaborate with educational institutions, research-focused partners, strategic partners, future customers, and investors. CEO and co-founder, Fengru Lin, stated: “Establishing this R&D facility in Greater Sacramento marks the first step towards bringing our unique products from development to market—one that we’re very glad will help unlock new opportunities within the local community. We’re eagerly looking forward to working with the brilliant talent in the area and building a future generation of nutrition that we can all enjoy for decades to come.” President and CEO of the Greater Sacramento Economic Council, Barry Broome, stated: “We want to congratulate TurtleTree for locating their ...

Biodesign company Kingdom Supercultures has raised $25 million in Series A funding for the development of its natural microbial cultures which could revolutionize the plant-based foods industry.  “We are pioneering an entirely new field of science and class of ingredients by working with biology at the ecosystem and microbiome level” The investment will allow Kingdom Supercultures to expand its scientific platform and R&D facilities. The Brooklyn-based company plans to expand its portfolio of “Superculture” ingredients which can power products with flavors, textures, and functionalities in the plant-based foods, fermented beverages, and personal care sectors.   With Kingdom Supercultures’ technology, the company claims that consumer packaged goods companies will have the option to precisely tune the sensory and functional properties of their products using natural ingredients. Previously, food companies have relied on artificial chemicals for processing food, while Kingdom’s vision is to replace such artificial chemicals and GMOs with natural Supercultures as the backbone of the industry.   Tremendous Growth The $25 million Series A funding round – led by Shine Capital – follows a $3.5M seed round in 2020. The new funding round involved recognized names from the plant-based industry, including the founders of Daring Foods.  “The last few years have seen tremendous growth in demand for consumer goods that are healthier and more sustainable.  This funding will allow us to meet the need for novel, natural ingredients by continuing to build out our world-class team and advancing our Superculture R&D,” said Kendall Dabaghi, CEO of Kingdom Supercultures. “We are pioneering an ...

A survey conducted by GlobalData has found that 30% of respondents are either somewhat likely or extremely likely to choose vegan eggs over the conventional variety. The company notes that this openness to egg alternatives could provide a gateway for omnivores to transition to a plant-based diet, helping them to improve their health. Ingredients used to produce vegan eggs, such as mung beans and chickpeas, are typically high in protein and other nutrients while being low in saturated fat and free of cholesterol. As more consumers transition to plant-based diets, a growing number of companies are producing alternatives to eggs. In August, US company Crafty Counter launched what it claims is the world’s first ready-to-eat vegan boiled egg. The previous month, Israeli startup YO-Egg created hyper-realistic plant-based fried eggs. And vegan liquid egg alternatives, such as JUST Egg, are well-established. But despite these launches, research has said there are nowhere near enough plant-based eggs on the market to meet demand, and they are still not available at most supermarkets. “Egg alternatives are already witnessing massive success in the fast-food industry, similarly to other meat alternatives, due to their versatility as a cooking ingredient,” said Carmen Bryan, Consumer Analyst at GlobalData. “Chefs can experiment with their menus without compromising on taste or nutrition – ultimately offering the consumer more choice. This is a promising development that will help people familiarize themselves with the product before it becomes widely available at retail stores.” ...

Canadian company Urbani Foods produced conventional meat-based products for half a century. But three years ago, it decided to pivot and become entirely plant-based. Now, it makes vegan jerky under the name NOBLE Jerky. In 2020, NOBLE’s revenue soared by 70% YOY, as more consumers shifted towards plant-based diets during the pandemic. By August of this year, demand was so high that the company experienced a short-term supply shortage. Now, the vegan jerky has launched at Walmart stores across Canada. It contains up to 14 grams of plant-based protein per serving, with no artificial ingredients and minimal processing. NOBLE says the launch is a strategic move that it hopes will expose its products to a new group of customers throughout the country. The company transitioned to plant-based after recognising that the meat industry is not sustainable, and it aims to encourage others to do the same by making the vegan lifestyle as easy as possible. “We have an enormous sense of pride to be part of the growing plant-based selection available in Walmart Canada and helping Canadian consumers get access to top-quality, plant protein snacks,” said Jordan Urbani, Co-Founder of Noble Jerky. He added, “Our brand’s core mission is to help our local and global communities live better and healthier lives. Today marks a very special day as we introduce our products in one of the most prominent grocery chain stores in our country and for the benefit of our fellow Canadians, in our commitment to making vegan accessible and ...

Ever wondered why whole chicken breasts, tenderloins, or large cuts of fish don’t usually have a plant-based counterpart? The answer is simply because most current technologies are too limiting to achieve such products. And that’s exactly where the French startup Umiami comes in. The company is only months away from producing the world’s first whole-cuts at scale. What’s more, its products are available to other brands through private labelling. Tristan Maurel, CEO, and co-founder of Umiami, explains: “Until now, there were only two options: dry extrusion to create minced products such as burger patties or sausages, and wet extrusion to create small chicken-like pieces. However, no technology allowed to create thick fibrous whole cuts of meat.” “We’re only months away from being the first company worldwide to produce plant-based chicken breasts at scale,” To recreate the complex fibrous structure of meat, the company has developed a unique technological platform. CTO Hugo Dupuis, explains: “With our process, we can create thick products – up to 8 cm or 3 inches thick – in which we master the direction of the meat-like fibres. Moreover, our technology results in higher levels of succulency and fewer flavour losses compared to HME [High-moisture extrusion]. It allows us to create a wide variety of unique plant-based meats and fish. The possibilities are just almost endless.” The current focus is on poultry. “We’re only months away from being the first company worldwide to produce plant-based chicken breasts at scale,” states Martin Habfast, head of sales. Moreover, the ...