vegconomist - the vegan business magazine

Less than a year after its inception in the UK, vegan fried chicken brand VFC has launched in the US and Canada. The company has celebrated by recreating scenes from its favourite American films — When Harry Met Sally and Ghost. The images feature VFC staff, including founder Matthew Glover and his wife Jane Land, with cameos from the company’s fried chicken. VFC often takes an unconventional approach to marketing, including engaging with trolls and labelling them “Cluckwit of the Month”. With both the US and Canada in the top 20 countries worldwide for poultry consumption, North America is a “strategic priority” for VFC, which has the ambitious aim of ending factory farming.  In Canada, Gaynor Fletcher’s Vegan Foods Wholesale will be the distributor for VFC, while Rick Hirsch will lead the US launch. The initial focus will be on foodservice along the west coast, with expansion into the rest of the country and into retail following later on. VFC experienced “unprecedented” success after its launch, receiving calls from distributors in ten countries worldwide. It also received significant interest from investors, people wanting to open franchises, and the four biggest supermarkets in the UK — all within the first eight weeks. Earlier this year, VFC expanded into mainland Europe, and soon afterwards it secured £2.5 million in seed funding. The company has previously said that it eventually aims to underprice KFC, as well as to surpass £50 million in international sales by 2025. “The United States and Canada have always been on ...

Bachan’s, a company producing Japanese-style barbecue sauce, has announced a funding round with contributions from a range of high-profile investors. The round was led by private equity firm Prelude Growth Partners, with participation from various celebrities including Ryan Tedder, Aaron Paul, Benny Blanco, Whitney Port, Max Thieriot, Chase Utley, and Abe Burns. Walter Robb, the former co-CEO of Whole Foods Market, and Brian Requarth, Latitud co-founder, also contributed. Bachan’s says the funding will go towards expanding its team, distribution, and creating new products. Bachan’s is already the bestselling barbecue sauce on Amazon and is available at over 2,500 retailers across the US. All Bachan’s products are vegan and non-GMO. The market for plant-based sauces and condiments is expanding rapidly, with companies launching everything from vegan mayo to plant-based pesto and cheese sauces. The market is now estimated to be worth $70 million. “The commitment I made to developing our sauce and our cold-filled manufacturing process in a way that honored my family, and also made it completely unique in the marketplace, is paying off,” said Justin Gill, Bachan’s founder and CEO. “The growth we’re experiencing in all channels is exhilarating and every day is a new challenge, which I love. As we continue to grow, we’re so grateful to have investors on board who are as passionate about our mission as we are.” ...

HEROTEIN, formerly HERO Protein, announces it has entered into a strategic partnership with Berkeley-based cell cultivated fat producer Mission Barns to launch hybrid cultivated meat/plant-based meat products. The company states its intention to be the first to commercialize such products in China. The Shanghai company closed an $850K pre-seed funding round this February and in May announced that Vicky Lee, former CMO of McDonald’s Taiwan, had been onboarded as CEO, joining former senior R&D executives from some of the largest plant-based meat brands in the world including Beyond Meat and Impossible Foods. Mission Barns raised $24 million in a Series A round this April, with plans to upscale its cell-cultured fat technology and build a pilot factory in the Bay Area. High profile investors in the round included Lever VC; Gullspang Re:Food (Oatly); Humboldt Fund (NotCo & Geltor); David Yeung’s Green Monday Ventures (Beyond Meat & Perfect Day); Enfini Ventures (Impossible Foods & Memphis Meats); and an undisclosed European meat company. Mission Barns claimed to have produced the first cultivated bacon in 2020. HEROTEIN has also introduced a line of co-branded ready meals co-created with specialty foods brand Butler & White’s. The range of 16 products is fully plant-based and now distributed across the country. Said HEROTEIN’s CEO Vicky Lee. “With growing concerns on health, food safety and sustainability in China, I believe the development of plant-based foods is a key part of the solution, and we have the right technology and people at HERO Protein to bring the best ...

After recently partnering with actor and activist Leonardo DiCaprio, cell-cultured meat pioneer Aleph Farms has now signed Memorandums of Understanding (MOUs) with two of Asia’s largest food companies, including the world’s largest tuna producer Thai Union.  Famed for growing steaks directly from animal cells, Aleph Farms has penned MOUs with Thai Union and global food and lifestyle company CJ CheilJedang, to accelerate Aleph’s scale-up, go-to-market activities, and elevate distribution of cell-cultured meat in existing marketing channels across the APAC region. Aleph Farms announced a similar agreement with Mitsubishi in Japan this year. Backed by its recent $105 million Series B funding round – which included the participation of both Thai Union and CJ CheilJedang – Israel’s Aleph Farms is planning an initial market launch in 2022, pending regulatory approval. Research from Thai Union and Aleph Farms reveals that 74% of Singaporeans and 97% of Thais are willing to try cell-cultured meat, with key motivators being environmental benefits and the ability to trace the meat’s origins. Big Food in Alt Protein Thai Union is one of the world’s largest seafood producers with annual sales exceeding $4.2 billion, but as overfishing, environmental destruction, and climate change take their toll on the oceans, the company is increasingly investing in the alt protein movement. It is not the company’s first foray into the cell-cultured sphere, as it recently signed a similar deal with cellular aquaculture specialist BlueNalu. Also signing an MOU, CJ CheilJedang is the core subsidiary in charge of the food and bioengineering ...

One of Asia’s leading food-tech startups, Next Gen Foods, has named former Tesla and Impossible Foods executive Rachel Konrad as its first independent board member. Konrad joins as the Singapore-based Next Gen Foods rolls out its flagship product – TiNDLE plant-based chicken – internationally.  “We can’t solve our planet’s climate and extinction crises without radical changes to the food system — including a rapid shift away from animal agriculture” – Rachel Konrad Konrad, who spent five years as Chief Communications Officer at Impossible Foods, joins the board of Singapore-based Next Gen Foods during a period of international hypergrowth. The early-stage startup, whose products are already a breakout hit in Asia and the Middle East, currently has more than 50 job openings, including at least 40 roles in the United States. Next Gen Foods, aims to make the global food system sustainable and significantly improve public health by making nutritious meat from plants. In a recent vegconomist interview, CEO Andre Menezes explained; “TiNDLE is made from only 9 simple non-GMO, non-Novel ingredients – made entirely from plants and has no “nasties” that typically come with chicken from birds like cholesterol or hormones. We are confident of being able to stand out from the existing brands in the US.” Celebrity Investors With the brand now launched into US foodservice, Next Gen Foods is looking to further its international growth. The startup is backed by a $30 million funding round, with investors including English footballer Dele Alli and business guru Chris Yeh.  “We ...

As vegconomist reported earlier this year, US beef giant Jensen Meat has been developing a new plant-based facility for the production of vegan beef. Jensen Meat has now officially opened that facility, with the capacity to produce plant-based products at a rate of 25 million pounds annually. “We feel there is room for both industries – traditional and plant-based – to thrive in a sustainable manner” Located in the Otay Mesa area of San Diego, CA, the new plant-based division will create jobs and allow the company to increase its production of affordable protein sources. With production already underway, the new facility includes multiple processes, including bulk and patty forming for foodservice and retail finished products. Founded in 1958, Jensen produces 75 million pounds of ground animal beef annually, making 25 million pounds of plant-based a significant amount of its output. Jensen is just the latest meat company to expand its plant-based operations, with Planterra Foods – owned by JBS USA – moving into new markets, and Irish meat producer ABP launching a new retail plant-based brand. “We want to use our knowledge of burger production to help plant-based companies achieve the best looking, tastiest patty, and now, we are opening our first plant-based production facility,” said Abel Olivera, CEO of Jensen Meat. “We have diversified,” added Mr. Olivera. “We feel there is room for both industries – traditional and plant-based – to thrive in a sustainable manner. Our new plant will produce sustainable protein while driving down costs for ...

DUBLIN–(BUSINESS WIRE)–The “Automotive Vegan Leather Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2026” report has been added to ResearchAndMarkets.com’s offering. The report on the global automotive vegan leather market provides qualitative and quantitative analysis for the period from 2018 to 2026. The report predicts the global automotive vegan leather market to grow with a CAGR of 48% over the forecast period from 2020-2026. The study on automotive vegan leather market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and RoW for the period of 2018 to 2026. The report on automotive vegan leather market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global automotive vegan leather market over the period of 2018 to 2026. Moreover, the report is a collective presentation of primary and secondary research findings. Porter’s five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market and opportunities for the new entrants in the global automotive vegan leather market over the period of 2018 to 2026. Further, the Publisher’s Growth Matrix gave in the report brings an insight into the investment areas that existing or new market players can consider. Segment Covered The global automotive vegan leather market is segmented on the basis of product, application, and vehicle type. The Global Automotive Vegan Leather Market by Product Polyurethane Recycled Polyester Bio Based The Global Automotive Vegan Leather Market by ...

DUBLIN–(BUSINESS WIRE)–The “Global Plant Based Food & Beverages Market Analysis, 2021” report has been added to ResearchAndMarkets.com’s offering. Global Plant Based Food & Beverages market is anticipated to grow at a CAGR of around 11% during 2021-26F The growth of the market is attributed to rising lactose intolerance populace worldwide, increasing millennial inclination for vegan food along with the adoption of low-calorie food options among people due to hectic lifestyle. Moreover, the mounting launch of various plant-based beverages along with rapid urbanization and escalating health concern propelling the demand for animal-based diets are the factors fueling the demand for plant-based food and beverages in the forthcoming years. Lactose Intolerance Acquired the Majority Market Share Based on Functionality, Lactose Intolerance acquired the majority market share in 2020. This is due to a significant rise in lactose intolerance population especially among Asian, South American, and African persons. However, Lactose tolerance is also widespread in Northern European countries such as Sweden and Finland, with tolerance levels of 74% and 82%. Hence, this is projected to augment the demand for Plant Based Food & Beverages globally in the near future. Competitive Landscape Key players with a considerable market share include The Whitewave Foods Company Blue Diamond Growers Pacific Foods Oregon Hain Celestial Califa Farms Want Want China Holdings Limited Sunopta Kikkoman The Coca Cola Company Ripple Foods Pureharvest Wildwood Organic Key Topics Covered: 1. Introduction 1.1. Product Definition 1.2. Research Process 1.3. Assumptions 1.4. Market Segmentation 2. Executive Summary 3. Impact of COVID-19 on ...

Plant-based pork leader OmniFoods – producer of OmniPork – has launched The Big Vegan Pig Out, a series of popular restaurant partnerships across the UK. Featuring restaurants in 21 new locations, The Big Vegan Pig Out will showcase OmniPork’s plant-based innovations nationwide. “Teaming up with these restaurants to showcase our OmniPork products is an honour and we can’t wait for consumers to taste all the different ways it can be prepared” – David Yeung The 21 restaurants will present new plant-based dishes using one of OmniPork’s three high-quality pork alternatives – Mince, Luncheon, or Strips – with vegan items such as Steamed OmniPork Radish Dumplings, OmniPork Meat Feast Pizza, and Omni Shawarma Wrap all featuring.  Running from now until the 31st October, OmniPork will be partnering with renowned restaurants around the UK, including cult Kyushu-Brixton fusion Japanese restaurant Nanban, London based burger giants Nanny Bill’s, authentic Vietnamese Hanoi Ca Phe, dim sum aficionados Royal China Group, plant-based specialists Plant Hustler, Plant Powered Pizza, No Bonez and VeganE, as well as pizza start-up Pizza is Lovely, sushi with a difference from Let’s Do Maki and finally, Japanese inspired Negi Nori and Hachi. Explosive Growth Part of the award-winning food innovation social enterprise Green Monday Group, which works to increase plant-based diet and lifestyle awareness, OmniFoods latest initiative comes on the back of explosive growth in new markets, namely the UK and US. OmniPork has been available via retail channels such as TheVeganKind in the UK, while it recently underwent a retail ...

Alain Ducasse, the renowned chef with 21 Michelin stars and over 40 restaurants, opened Sapid on 6 September. In this new Parisian restaurant, 95% of the dishes are vegan. “Vegetable protein is more than enough to satisfy the nutritional needs of an individual”, says Ducasse. Sapid, located in the 10ᵉ arrondissement of Paris, at 54 Rue de Paradis, is “inexpensive, it’s a refectory-restaurant where you go to eat for €20 to €30, drinks included. 95% of what you will eat will be vegetables and cereals”, says the Chef. “All this to be careful of the health of the individual who consumes and careful of the planet, careful of your wallet.” By opening this restaurant, the Chef wishes to protect the planet’s resources while adapting to current trends and proving that a plant-based diet can be delicious and healthy. On France Info, Alain Ducasse declared last June: “It was natural that we should be able to demonstrate that it is possible to make a restaurant where only vegetable food is the reference.” Alain Ducasse was already one of the forerunners in terms of vegetarian offerings and had already started to offer a vegetarian menu in 1996 in his restaurant Le Louis XV located in Monte-Carlo, Monaco. ...