vegconomist - the vegan business magazine

A new study has revealed the most Googled vegan brands globally, with Beyond Meat at the top of the list at more than five million searches a year. Vegconomist gives you the full rundown of the top seven most Googled plant-based brands, according to analysis from Maxima Kitchen Equipment. Beyond Meat Alt meat giant Beyond Meat has more than triple the average yearly searches for all seven vegan brands on the list, receiving more than 422,000 searches a month. That is more than twice as many searches as its nearest competitor. The publicly listed Californian company recently filed 109 trademark applications, including for Beyond Eggs and Beyond Milk, signaling ambitious expansion plans for the future. Oatly Alt dairy giant Oatly comes in second, with almost 200,000 searches a month and more than two million searches a year. The rapidly expanding brand recently posted Q2 revenue of $146.2 million – a 53.3% increase YOY with a further 64% increase in revenue forecast. This May, Oatly made its stock market debut on the NASDAQ, far exceeding its target of 1.65 billion dollars. In total, Oatly was able to raise almost 2.12 billion US dollars and intends to use the funds to finance further business growth. Quorn Founded in the UK back in 1985, mycoprotein pioneer Quorn is the world’s third most popular vegan brand on Google, with around 95,000 searches a month. Quorn recently teamed up with Liverpool football club in the UK, and also founded a new base in Dallas, Texas ...

Australian food challenger All G Foods has raised AU$16 million in seed funding for the development of its alt protein and food-positive brands. Headed by serial entrepreneur Jan Pacas, the All G Foods seed funding round scores as one of Australia’s largest ever.  Looking to become a big player in the Australian alt protein landscape, All G Foods currently has two brands in its portfolio; Love BUDS Meat – a plant-based alt meat producer, and Milkcell – a precision fermentation alt dairy developer. All G Foods has also signed a retail deal with independent supermarket chain IGA for its first product, the Love BUDS Burger.  All G Foods is the brainchild of entrepreneur and former CEO of the year winner in Australia  Jan Pacas. Pacas is aiming to build a multi-billion dollar business, especially since plant-based eating has surged in Australia in the wake of Covid-19.  “It’s been slightly over a year since we had the concept and from day one we were aiming really high, wanting to build a multi-billion dollar business”, Pacas told the AFR.  “With plant-based proteins and proteins from technology like precision fermentation, we can help feed a growing local and global population while putting less pressure on our environment,” he added. ...

ROCOL, the UK manufacturer of technically advanced industrial lubricants, has secured the Vegan Trademark for 45 of its food production products.  ROCOL claims to be the first lubricant and maintenance product manufacturer globally to secure the Vegan Trademark, as the lubricant specialist looks to cater to the exploding number of plant-based food producers across the world. The firm says the registration will help food manufacturers reinforce their vegan credentials and demonstrate a commitment to quality throughout the supply chain.  Boasting one of the widest portfolios of food-grade products on the market, ROCOL has secured vegan certification for its FOODLUBE and PUROL ranges. The range also has ISO 21469 certification, Halal, and Kosher, alongside NSF approvals and accreditations.  The Vegan Trademark   Provided by The Vegan Society and first introduced in 1990, the Vegan Trademark currently appears on over 53,000 products in 79 countries, including food, drink, cosmetics, clothing, and household items. Deal discovery brand Artos also recently received the certification, while the Vegan Trademark has developed an animal-free safety test alternative for cosmetic products. “Data from SmartProtein/Nielsen reports 73% growth in sales of plant-based food in the UK between 2018 and 2020, and 63% growth in sales of plant-based meat alternatives as consumers reduced their meat consumption or switched to vegan, vegetarian, or flexitarian diets,” stated ROCOL Food & Hygiene segment specialist, Andy Howard. “According to The Vegan Society, more than 90% of vegans and vegetarians look for vegan verification on the products they buy, and 85% believe that third-party certification ...

The Social Market Foundation think tank has identified the alt protein sector as a critical and emerging industry which can reduce the environmental impact of the UK’s animal protein reliance. The organisation’s report goes further by calling on the UK government to invest in the alt protein sphere to meet its climate targets. “The UK is the second-largest market for plant-based foods in Europe – but countries like Singapore and Israel are miles ahead” – Elena Walden, GFI With the UK Government aiming to fulfill its Net Zero commitments, the non-partisan Social Market Foundation has recommended investing in the alt protein sector as a viable means of reducing meat consumption in the UK. In order to reach its Net Zero ambitions, meat consumption in the UK will need to fall considerably over the coming decades, yet the report identifies “a conspicuous lack of policy” regarding this fact.  With a proposed carbon tax for meat products being discussed – including by Beyond Meat CEO Ethan Brown – the report points out the benefits of rapid expansion in the alt protein market over a politically sensitive ‘meat tax’. As organizations such as the Good Food Institute and writers such as Ezra Klein have repeatedly pointed out, the potential benefits to public finances, the economy, public health, and the environment of a thriving alt protein economy are huge.  Responding to the Social Market Foundation findings, Elena Walden, Policy Manager at the Good Food Institute Europe, told vegconomist: “The UK is the second-largest market ...

Chilean foodtech pioneer NotCo now has a presence in Stop & Shop, the largest food chain in the Northeastern United States with more than 400 shops in New Jersey, New York and New England. Founded in 2015 in Santiago, Chile by Matias Muchnick, Pablo Zamora and Karim Pichara, NotCo achieved its goal of becoming a unicorn by raising $235m from investors such as Lewis Hamilton and Roger Federer this year, fuelling the company’s growth in both Latin America and the US. As we reported last month, NotCo collaborated with Mostaza, Argentina’s largest burger chain, as well as forming a new alliance with Burger King in Paraguay. Speaking to vegconomist this June, CEO Muchnick spoke about his brand’s upcoming IPO and plans for global expansion. “Since day one we’ve been looking to challenge the industry as a whole. Unlike companies that focus solely on alt-meats or alt-milk, we are the only company already selling products in key animal protein substitute areas with NotMilk, NotBurger, NotIceCream and NotMayo in five different countries. We are the only global company to disrupt massive food and beverage simultaneously. Unicorn status will allow us to continue to develop the technology and our portfolio and challenge some of these larger players even more.” ...

New York vegan cheese brand NUMU has announced its Series A funding, co-led by Unovis Asset Management and Clear Current Capital. The funding will be used for marketing, product development, and increased distribution. NUMU’s first product is vegan mozzarella made with potato starch, soybeans, and coconut oil. It is Kosher and free of nuts and GMOs. The company was founded by Gunars Elmuts, who struggled to find pizzerias that offered non-dairy cheese after going vegan in 2011. According to NUMU, the cheese melts smoothly, has no aftertaste, and mimics the taste of conventional mozzarella. It is available for foodservice in both shreds and blocks, suitable for pizzas, lasagnas, and sandwiches. The company says it is also working on the development of further cheese products. The Market For Vegan Cheese A market report last month revealed that the alt-dairy market was expected to triple in value to $32 billion, with non-dairy cheese a huge driving factor. In June, a study found that animal-free cheese was set to seriously challenge the $240 billion cheese market. “This is an exciting time for NUMU as we continue to develop the brand and expand our distribution,” said Gunars Elmuts, Founder of NUMU Vegan Cheese. “Thanks to our continued partnership with investors like Unovis and Clear Current, who have extensive experience in the plant-based food space, we are well-positioned to bring NUMU to a much wider audience.” ...

Chinese startup CellX has revealed a selection of dishes made with its cell-cultured pork. It has invited potential investors to sample the pork, which is produced with cells from China’s native black pig. The company says it is aiming to achieve price parity with conventional pork by 2025, making environmentally friendly meat much more accessible. China currently consumes 30% of the world’s meat, making it the largest market globally. A more sustainable solution is urgently needed, and cell-cultured meat could be the answer. Not only is it better for the environment, but it could also solve supply issues caused by disease outbreaks such as swine flu. There have long been concerns that consumers will be reluctant to eat cell-cultured meat, but according to CellX, Chinese consumers are keen to try it. This is borne out by studies which suggest that almost 60% of Chinese people would be willing to buy the meat — a much higher percentage than in the West. In December, CellX raised an undisclosed sum to accelerate development and production and help move products out of the lab. Earlier this year, it raised another $4.3 million. The company was also a semifinalist of this year’s XPRIZE Foundation Challenge. “Our vision is to change the way meat is produced. This isn’t just a China issue, it’s a global issue, so for us to achieve our vision, we need to be a global company,” CellX founder Yang Ziliang told Reuters. ...

US multinational chocolate manufacturer Hershey’s has launched vegan chocolate for the first time ever. It is made with oat milk and comes in two flavours — Classic Dark and Extra Creamy Almond & Sea Salt. Initially, the bars have been launched as part of a limited-edition test release which will continue until June 2022. They are available at various retailers, including Target. Soul Miner’s Garden, a vegan food truck in Charlotte, North Carolina, is also offering them. The chocolate bars are part of Hershey’s Better For You range, which the company is working to expand. They are non-GMO and made with Rainforest Alliance certified cocoa. The global vegan chocolate market The market for vegan chocolate is rapidly expanding worldwide, with its value expected to reach USD 1.41 billion by 2028. Growth is largely being driven by increased environmental awareness and concerns about animal welfare. In the UK, demand for vegan confectionery has soared so much that one confectioner had to add 300 products to its range. “We started our work on the Hershey’s Oat Made products by evaluating the current plant-based offerings on the candy market,” Dan Mohnshine, Team Lead of Strategic Growth Platforms (SGP) at Hershey’s, told Totally Vegan Buzz. “After finding that the ingredient formulas of existing products could be improved upon, our masterful R&D team at Hershey developed formulas using oats that we believe deliver better on consumers’ expectations than what is in the marketplace today.” ...

British chain Costa Coffee is reportedly the fastest growing coffee shop chain in the UK and is a subsidiary of the Coca Cola Company. The chain is now to offer a Vegan Bac’n Breakfast Bap across the country, as first reported by Vegan Food UK. The new offering uses Irish brand Finnebrogue‘s Naked Bacon Without The Oink! as well as a vegan spread. Earlier this year Costa added more Vegan Society-approved sweet treats to its menu – including a chocolate slice from BOSH!. Famous Irish sausage-maker Finnebrogue is currently undergoing what it has called a “plant-based revolution”, with the opening of a £25 million plant-based facility in County Down, Northern Ireland, and the launch of its Naked Without range including bacon and sausage.  As the World Health Organization has classified processed meats including bacon as Group 1 carcinogens, the new Costa Coffee and Finnebrogue plant-based offering will appeal greatly to the 51% of British people now reported to want to replace meat with plant-based alternatives.  ...

Japanese brand Next Meats has announced three upcoming product launches. The first, plant-based pork, is a response to numerous requests from customers — pork is the most consumed type of meat in Japan. NEXT Pork will be sold fried and sliced in a sauce made from soy and ginger. It aims to replicate the classic Japanese dish shogayaki. The second product, plant-based tuna, has been developed to cater to consumers who are accustomed to Japan’s seafood-rich diet. And the final launch is a milk alternative, which is also likely to be popular in Japan given that a high proportion of the population is lactose intolerant. The three products will be launched in October through the Next Meats online store. More details will be available closer to the time. The news follows a highly successful year for Next Meats, which last month announced it would be opening an eco-friendly factory powered by solar energy. In June, it entered into a collaboration with US chain Wayback Burgers, which began using Next’s Short Rib to make plant-based sliders. This followed on from a collaboration with IKEA in May to offer what the chain claimed was the world’s first plant-based Japanese beef bowl. And back in March, supermarket chain Yokado began stocking Next’s products in the meat aisle. In an interview with vegconomist earlier this year, Next Meats said it would be focusing on the US market in the coming months. “We, as a company, predict that success in the US market will lead ...