vegconomist - the vegan business magazine

vegconomist - the vegan business magazine

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vegconomist - the vegan business magazine episodes

  • Nestlé to Relaunch Garden Gourmet in UK Supermarkets with Sensational Range
    Global food giant Nestlé is relaunching its plant-based Garden Gourmet brand into UK supermarkets. After initially entering the UK market back in 2018, the world’s largest food producer is hoping to crack the growing UK alt meat retail scene with its Sensational range.  Nestlé has announced plans to roll out the Garden Gourmet Sensational vegan range from 20th September, with the brand advertising its commitment to be carbon neutral by 2022. The plant-based range is already popular in the UK foodservice, with Subway UK using Garden Gourmet as the sole provider of vegan meatballs in its popular Meatless Meatball Marinara. Initially, the range will include four plant-based products comprising burger, mince, Cumberland-style sausages, and Mediterranean-style filet pieces. Nestlé has recently been expanding its alt protein operations, with the launch of its Wunda plant-based milk and industry-shaking entry into the cell-cultured meat sphere. Earlier this year, the company also launched KitKat V, certified by the Vegan society. “With more and more people looking for great-tasting, more sustainable plant-based food, we are very excited to bring the Garden Gourmet range to UK supermarkets with our tastiest and juiciest Sensational range. We want people to fall in love with plant-based eating at first bite which is why we have worked hard to deliver even more meat-like flavour and texture to satisfy even the most discerning of taste buds”, commented Honza Dusanek, Managing Director for Food and Dairy at Nestlé UK and Ireland.    ...
    2 min
  • Switzerland: Alt Protein Leaders Join Forces to Form the Swiss Protein Association
    The leading alt protein companies in Switzerland have come together to found The Swiss Protein Association (SPA). With its four founding members being Bell Food Group, Kündig Group, Migros Industrie, and Planted Foods, the SPA will act as a lobbying group for the alt protein movement in Switzerland.  The SPA is aiming to raise awareness among politicians, industry leaders, and consumers of the potential benefits of alternative protein sources for a climate-friendly and sustainable diet. With headquarters in Bern, the association defines alternative protein sources as proteins and protein-rich products, such as meat and dairy products, that are not derived from conventional animal sources but are intended to contribute to a sustainable, healthy, and accessible diet.  Committed to promoting high-quality and competitive production of alternative protein sources along the entire value chain, from cultivation to end product, and to creating advantageous framework conditions in Switzerland, the association sees itself as a contact and exchange platform in the rapidly growing industry. The news follows the launch of The Cultured Food Innovation Hub, a cellular agriculture business accelerator in Zurich, which also has Migros on board.  “The livestock industry contributes significantly to climate change, accounting for 13% of greenhouse gas emissions worldwide. At the same time, it has an important social, cultural and economic significance in Switzerland. With the association, we are committed to working with strong partners to drive the inevitable change towards more alternative protein sources in the most sustainable and holistic way possible,” explained Judith Wemmer, Executive Committee Member, ...
    2 min
  • Finland: Wake Up and Smell the Cell-Cultured Coffee!
    Coffee cells have been successfully produced by scientists in Finland using cellular agriculture. The innovation, coming from the land that drinks the most coffee per capita in the world, could help make the future production of coffee considerably more sustainable. Scientists at the VTT Technical Research Centre of Finland produced the coffee cells in a bioreactor utilizing cellular agriculture – the process in which cell cultures floating in bioreactors can be filled with nutrient medium and used to produce various animal- and plant-based products. The team claims that the first batches produced smell and taste like conventional coffee. Increasing demand, coupled with sustainability challenges and ethical concerns, is rendering traditional coffee agriculture wholly unsustainable. Development and market entry of such cellular agriculture, however, currently hinges on regulatory approval. At present, Singapore is the only state with advanced legislature, while Qatar is also not far behind. In the US, the USDA has called on stakeholders in the cell-cultured field to present comments and information while labeling legislation is reviewed. “At VTT, this project has been part of our overall endeavor to develop the biotechnological production of daily and familiar commodities that are conventionally produced by agriculture. For this, we use many different hosts, such as microbes, but also plant cells,” stated Research Team Leader, Dr. Heiko Rischer from VTT. “In terms of smell and taste, our trained sensory panel and analytical examination found the profile of the brew to bear similarity to ordinary coffee. However, coffee making is an art and ...
    2 min
  • The “World’s Largest” Conventional Meat Companies Back Completed Lever VC $80 Million Alt Protein Fund
    Alt protein venture capital fund Lever VC has announced the completion of the $80 million Lever VC Fund I. The fund has been raised to back early-stage plant-based and cell-cultured startups around the world, with a portfolio of 19 fast-growing alt protein companies on board. The backers of the completed $80 million fund hail from all over the globe, including several of the world’s largest meat companies, according to Lever VC, and some of the world’s largest ingredient, food commodity, fermentation, and AgriFeed companies – although no names have yet been disclosed. Work will begin early next year on the raising of Lever VC Fund II. The diversity of the investors shows investor confidence in the alt protein sector, and the urgency to diversify from conventional food markets. Coming from across the US, Europe, Asia, and Latin America, Lever VC’s current portfolio features Singapore’s TurtleTree Labs – recently scaled up its cell-based milk ingredients – as well as Mission Barns – recently raised $24 million to upscale its cell-cultured fat technology. Others include Better Meat Co – recently opened a new mycoprotein fermentation plant – and Heura – which recently called on UK politician Boris Johnson to make plant-based diets part of climate policy. “We’re pleased with the strong growth in value, sales and technology of our current portfolio, and we’ll continue to invest in more stellar companies over the next year,” stated Nick Cooney, Managing Partner of Lever VC. “We’re grateful to be partnered with some of the biggest food companies ...
    3 min
  • Cell Cultured US Market Entry Edges Closer as USDA Seeks Comments on Labeling
    The US Department of Agriculture’s (USDA) Food Safety and Inspection Service (FSIS) has published an advance notice of proposed rulemaking (ANPR) with regards to cell-cultured labeling of meat and poultry products. The ANPR will solicit comments and information on labeling and the FSIS will use these comments to inform future regulatory requirements. “We want to hear from stakeholders and will consider their comments as we work on a proposed regulation for labeling these products” – USDA The ANPR requests comment on specific topics to be considered during regulatory approval on labeling of cell-cultured meat and poultry products. Topics include; consumer expectations on nutritional composition and organoleptic qualities, naming of products that are neither false nor misleading, economic data, and any consumer research related to labeling nomenclature. In July, vegconomist asked the question: Could the US be the next country to approve the sale of cell-cultured meat? The country currently boasts over 80 startups working on developing cell-cultured meat, with collective fundraising at over $800 million, but their success hinges on regulatory approval. The wheels have been in motion, however, since 2019 when the USDA and FDA announced a formal agreement to regulate cell-cultured food production.  “This ANPR is an important step forward in ensuring the appropriate labeling of meat and poultry products made using animal cell culture technology,” commented USDA Deputy Under Secretary for Food Safety Sandra Eskin. “We want to hear from stakeholders and will consider their comments as we work on a proposed regulation for labeling these products.” ...
    2 min
  • Givaudan, Bühler, and Migros Join Forces to Establish The Cultured Food Innovation Hub
    A new facility for cellular agriculture products called The Cultured Food Innovation Hub is to be established in Zurich, Switzerland. The pilot plant is the brainchild of three companies; Givaudan, Bühler, and Migros, which have formed the hub as a new entity. Going live in 2022 to accelerate the development and market penetration of cellular agriculture products, The Cultured Food Innovation Hub will be a self-sustained company owned by Swiss multinational manufacturers Givaudan and Bühler, as well as Switzerland’s largest retail company Migros. The new hub will be located in The Valley, Kemptthal, a center of innovation and technology just outside of Zurich. The new accelerator will give facilities and knowledge to help other companies with their cell-cultured meat, fish and seafood, and precision fermentation development. The Cultured Food Innovation Hub will be equipped with a product development lab as well as cell culture and bio-fermentation capabilities to aid start-ups with market entry. All three companies are looking to position themselves at the forefront of the alt protein revolution, with Givaudan and Buhler recently collaborating on the joint opening of the new APAC Protein Innovation Centre in Singapore, with the mission of enabling agile plant-based product development on a global scale. Swiss retail giant Migros has also started the development of its own plant-based butchery. “Cellular agriculture offers a solution in several areas from reducing land use and water, to animal welfare, to the safety and quality of the food chain. The three partners in this new venture are each ...
    3 min
  • KFC Develops Plant-Based Option to Rival Trademark Fried Chicken Tenderloin and Strip
    While the world faces increasing poultry shortages in the wake of Covid-19, KFC’s top executive in the US has revealed more about the brand’s plant-based developments. Kevin Hochman, president of KFC in the US, has commented that the fried chicken chain is developing a plant-based version of its trademark offering.  As KFC plans ahead for the inevitable future of alt chicken in the mainstream, vegconomist takes a look back at the biggest vegan developments for the fast-food icon:  June 2019 – KFC’s vegan Imposter Burger made by Quorn completely sells out across trial locations in the UK, reportedly selling 500% more than average menu launches.  January 2020 – After being “bombarded with pleas to bring back the vegan burger”, KFC makes Quorn chicken burger option permanent across UK. January 2020 – After a successful test launch in Atlanta, GA, in which it sold out within 5 hours, KFC and Beyond Meat progress their partnership with launch of KFC Beyond Fried Chicken nuggets in over 60 restaurants in the US South.  May 2020 – KFC China trials vegan chicken nuggets made in partnership with Cargill in Shanghai, pre-sale coupons for the first day sell out within one hour. Later launches Beyond Burger at KFC restaurants across China.  June 2020 –  Through a partnership with Green Monday, KFC Hong Kong launches a series of plant-based products under the name The New Era Plant-Based Series, offering nuggets from Alpha Foods and a burger from Gardein. August 2020 – After selling over a month’s ...
    3 min
  • Change Foods Chases the “Holy Grail” of Vegan Foods, Moves to State-of-the-Art Facility
    US-Australian alt dairy startup, Change Foods, has set up R&D operations inside BioCube, one of the most decorated life science incubators in Silicon Valley. The move marks the next step towards commercialization for precision fermentation specialist Change Foods, as it looks to develop its animal-free dairy cheese.  After recently completing an oversubscribed seed funding round of $2.1 million, including investors from the dairy industry, Change Foods moves into BioCube’s modernized facility in San Jose to develop R&D on what it views as the “Holy Grail” of vegan foods; dairy cheese without cows. BioCube is already home to some of the most dynamic start-ups in Silicon Valley, including famous alumni like Impossible Foods.  Founded in 2020 and headquartered in Palo Alto, CA, Change Foods harnesses the power of microbes instead of animals to create real dairy proteins and fats, with its first product scheduled in the US for 2023; an animal-free cheese but with the stretch and melt of conventional cheese. The company is growing rapidly and plans to hire several researchers at BioCube to add to its team of mission-driven scientists. “We couldn’t be happier to bring Change Foods R&D facility to BioCube. We were drawn to the immaculate, modern, custom office and lab spaces, complete with sunny outdoor amenities and inviting shared spaces,” stated David Bucca, Founder & CEO of Change Foods. “It is the opportunity of a lifetime to develop cutting-edge precision fermentation technology to provide a viable alternative to unsustainable modern animal agriculture,” added Co-Founder and CTO, ...
    2 min
  • Top 10 Tips From a Plant-Based Business Consultant
    I have worked with many plant-based businesses in the past few years, and have seen many businesses struggle.  Here are my top 10 tips for the understaffed, under-capitalized start-up, as well as the semi-seasoned, growing medium-sized company. 1. Plant-based Is No Longer Enough. The market is growing at an exponential rate and splintering into many, expanding demographics.  You can no longer target everyone with a plant-based attribute. You need to know for whom you are making your plant-based product. Moms who want healthy kids?  Older people concerned for their health?  Millennials worried about the environment?  Gen Z taking a stand for animals? Find out and target your message to them for true and loyal engagement.   2. Strategy. It’s Not a Dance. Sure, sometimes you pivot and adapt your strategy, but you can’t be shifting all the time, and just doing what others do can leave you directionless.  So, you must nail your strategy and, generally speaking, stick with it while making tweaks along the way. If you don’t have a strategy for reaching and engaging your customers, that has to stop now. Plan your strategy and execute it efficiently to get out in front. 3. One Press Release Isn’t a Communication Strategy. Three Press Releases Aren’t a Marketing Strategy. Engaging your customer isn’t a one and done kind of action.  It requires consistent communication. Plan to have press releases every 4-6 weeks and have those press releases play a role in a broader marketing plan that includes an ad spend, ...
    6 min
  • High Protein Plant-Based Ramen Brand immi Raises $3.8M in Seed Funding
    Asian-American ramen brand immi has raised $3.8 million in seed funding round led by Siddhi Capital with participation from notable individuals, including Patrick Schwarzenegger and the CEOs or co-founders of companies such as Thrive Market and Daring Foods. Immi is currently relaunching its product with a new formulation, which will improve the broth’s taste and texture while increasing the fibre content of the noodles. According to the company, the new recipe makes the product indistinguishable from conventional ramen. When it initially launched at the beginning of the year, the ramen was marketed to those eating low-carb diets. But with the new recipe, immi aims to extend the product’s appeal to anyone who enjoys ramen. The company claims its creation is the world’s first low-carb, high-protein, and plant-based instant ramen, though brands such as the UK’s Future Noodles have also launched vegan noodles that are high in protein. “The excitement and reception to immi and a better-for-you ramen was incredible upon our initial launch,” said co-founder Kevin Lee. “As we continue to iterate and listen to our consumer feedback, this seed round funding will be utilized to perfect a product that’s not just nutritious, but that is also truly indistinguishable from the delicious taste of traditional instant ramen.”  ...
    2 min

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