vegconomist - the vegan business magazine

Yum Brands-owned KFC Thailand announces it is working with Meat Zero to create new plant-based fried chicken menus to be initially served at two KFC Green Stores in Thailand.  Thai pork and poultry giant Charoen Pokphand Foods PLC (CPF), Thailand’s largest agro-industrial food business, unveiled MEAT ZERO this May with goals of becoming the top alt meat brand in Asia by 2022 and in the world’s top 3 by 2026. The plant-based Chicken Pop menus are at KFC Green stores, at Saengsom Building and Wanachai Depot Chachoengsao, which are now serving 6 sets: 1) 7 pieces of Plant-Based Chicken Pop for 49 baht 2) plant-based Zabb Rice Bowl for 75 baht 3) Chick N’ Share plant-based Pop for 119 baht 4) Combo plant-based Pop for 79 baht 5) Combo plant-based Zabb Rice Bowl for 119 baht and 6) The box plant-based at 179 baht.  Ms. Waewkanee Assoratgoon, general manager of KFC for Yum Restaurants International (Thailand) Co., said that the demand for plant-based diets has been on the rise in several countries including Thailand, posing challenges to food companies including KFC in presenting alternative plant-based menus for Thai consumers.   “Opting for Meat Zero as the material for our plant-based Chicken Pop and spicy rice bowl with plant-based Chicken Pop menus, we can create very delicious products. Consumers will barely notice that the chicken they are eating is made from plants. Whenever they want to skip real meat, they can come to us and they will still enjoy the familiar ...

Vancouver-based TMRW Foods announced this week a seed round investment of $2.6 million from investors including Greg Blake, Co-founder of Daiya, and Richard Cooperstein, CEO & Senior Managing Partner of Media Investment Group, former Senior Executive at Disney‘s Worldwide Television Group, Paramount Pictures & Facebook.   Other investors in the seed round included Eric Patel, Director at Fresh Prep, former Director at Smart Sweets, former Board Chairman at Daiya, and the Milne Group, owners of Virtuous Pie, Mila and Harken Coffee. The fresh funds will be used to further product innovation, North American expansion, and increased efficiency of current production lines. TMRW Foods portfolio currently includes TMRW Burgers, TMRW Breakfast Patties, TMRW Ground, 4 flavours of TMRW Sausages, and four flavours of the newly-launched TMRW Shreds, which are produced from its wholly-owned HACCP certified facility in British Columbia, Canada. The company reports that it tripled its distribution points from the end 2020 to Q2 2021, and that it entered new markets including Toronto, Ottawa, Calgary, and Edmonton in Q1 and Q2 of 2021. Current retailer accounts include grocery chains such as Whole Foods Market, Save-on-Foods and Healthy Planet, as well as local independent grocers. “We’re excited to keep challenging the status quo, to reimagine how to feed people today and tomorrow, to keep unlocking the full potential of plants”, said Dean Blignaut, TMRW Foods co-founder and CEO. “As much as raising capital at this time will enable us to execute on our growth strategy, it’s just as much about surrounding ...

Can we print meat? Indeed, we can! Simon Fried of MeaTech explains on The Plantbased Business Hour with Elysabeth Alfano. Today’s episode is truly about future of meat.  Specifically, Simon and Elysabeth discuss, The Meatech cultivated meat process for unstructured meat. The printed meat process for structured meat. Why MeaTech went public before revenue and how much money was raise. Expected price parity with meat and when the product will be mainstream. Working with competitors in a growing ecosystem. When consumers will accept cultivated meat. Why Israel has been so advanced with cultivated meat. Below is a clip and transcript from our long-form interview on if the consumer will accept cultured meat.  The full podcast is here. Click here to display content from YouTube.Learn more in YouTube’s privacy policy. Always display content from YouTube Elysabeth: I don’t know that people are so tied to where their meat comes from. I think they just want meat. So it’s sort of two sides of one coin. Cellular meat, cultivated meat is the death of animal agriculture. Why would you ever choose animal agriculture? It’s so wasteful, inefficient, it’s cruel, it’s got hormones and antibiotics, pandemics, we could go on. But also I think people are quickly going to make the intellectual leap to, “It’s still meat.”  What do you think about that? How long do you think it will take for the consumer to get on board? Simon Fried: Well, as with any new technology, people are justified or understandably on the fence until proven otherwise. ...

DUBLIN–(BUSINESS WIRE)–The “Soy and Milk Protein Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026” report has been added to ResearchAndMarkets.com’s offering. The global soy and milk protein ingredients market reached a value of US$ 11.2 Billion in 2020. Looking forward, the publisher expects the market to exhibit strong growth during 2021-2026. Companies Mentioned Archer Daniels Midland (ADM) Arla Foods DuPont Nutrition & Health Cargill Inc. Kerry group Associated British Foods Charotar Casein Company Dean Foods Fonterra Glanbia Milk Specialties Omega Protein Linyi Shansong Biological Products Co.,Ltd. Scoular Solbar Industries FrieslandCampina DMV Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor. Protein plays a vital role in the everyday diet of human beings as it assists growth and healing in the body. However, as humans are incapable of producing proteins on their own, they rely on animals and plants for meeting their requirements. Some of the sources of animal proteins are milk, eggs, fish, meat, and gelatin, whereas, plant protein sources include peas, soy, rice, wheat, and canola. Amongst these, soy and milk protein products have gained immense popularity among the vegan and vegetarian consumers, respectively. Global Soy and Milk Protein Ingredients Industry Drivers: One of the recent trends in the food industry is the growing consumer inclination towards protein-rich food products which has resulted in ...

AgFunder, one of the world’s most active foodtech and agtech investors, announces the final close of its alternative protein fund: New Carnivore A range of corporate, institutional, and high net worth investors participated in the raise, including Archer-Daniels-Midland and Alexandria Venture Investments Along with the close, AgFunder announces New Carnivore’s first seven investments in early-stage companies building alternative meat, dairy, and materials products SAN FRANCISCO–(BUSINESS WIRE)–#agrifood–AgFunder, the leading foodtech and agtech VC firm, today announces the final close of New Carnivore, its alternative protein fund, on US$21 million. The fund was oversubscribed, surpassing its hard cap. ADM Ventures, the VC arm of the global food and commodities company Archer-Daniels-Midland, invested in the fund. Alexandria Venture Investments, a unit of US$30 billion real estate investment trust Alexandria Real Estate Equities, also participated. New Carnivore has made seven investments to date, co-investing with leading VCs such as a16z, Breakthrough Energy Ventures, and DCVC, as well as celebrities like Natalie Portman, John Legend, and Jay-Z. The fund is targeting 20 investments overall. The current portfolio includes: Nobell Foods (US), a plant-based cheese company using soybean plants to produce casein – one of the key proteins found in cows’ milk that’s responsible for giving cheese its stretch, melt, and mouthfeel. SIMULATE (US), a plant-based chicken nuggets and patties company that has drawn an almost cult following through its direct-to-consumer strategy. Alpha Foods (US), plant-based company with versions of favorites like burritos, pizzas, and pot pies. Mycoworks (US), a cowhide leather alternative using mycelium that ...

In fast-casual restaurant news, parent company of the Saladworks chain, WOWorks, has set the goal of becoming the largest plant-based restaurant company in the US. Looking towards expansion and acquisition, the company has 55 WOWorks restaurants planned to open by the end of 2021. With the brand mission of providing fast and healthy food, WOWorks’ portfolio currently includes chains Frutta Bowls, Saladworks, Garbanzo Mediterranean Fresh and Simple Greek.   Kelly Roddy, CEO of WOWorks, has laid down the groundwork to grow the company into one of the largest plant-based and healthy eating companies in the restaurant sector. Currently, WOWorks opens up to two new units every week, with two to three weekly restaurant openings projected for 2022. “Our goal is to grow WOWorks to be one of the largest holding companies in the U.S.,” Roddy told NRN.  “The world didn’t need just another restaurant holding company,” he added.  ...

UK-based ethical, dairy-free producer Nush Foods has announced the release of two new plant-based products, adding to its range of health-conscious yogurts and cheeses. The award-winning alt dairy brand has also reported sales growth of 27% YOY.  Born to debunk the myth that dairy-free has to be bland and boring, ex-police officers Bethany and Paul Eaton started Nush in their kitchen with the help of their two children Megan and James. Eventually, they developed an almond-based yogurt that contains a high percentage of almonds and moved production to Nush’s artisan factory.  Nush’s product range includes an array of almond and cashew yogurts, Yog Tubes, and Spreadable Cheeses. A plethora of new national stockists were announced in 2020, including TheVeganKind, Waitrose, Sainsbury’s, and Marks & Spencer. The new products are a Mango & Passionfruit Yog edition, which is free from refined sugar and fortified with live vegan cultures, and Chocolate Fudge Pots, made with Belgian chocolate with cocoa and Nush’s specially crafted coconut caramel. The alt dairy movement is exploding globally, with the plant-based dairy market predicted to expand by nearly 3X over the next ten years according to the latest research, growing from $11 bn to an estimated $32 bn.  Both new products are available on Ocado:  Mango & Passionfruit Yog – RRP of £2.99 for 350g Chocolate Fudge Pots – RRP of £3.00 for 2 x 75g pots ...

Californian plant-based alt dairy company Misha’s Kind Foods has closed a $3M seed round. Misha’s, producer of a wide range of healthy and locally sourced dairy-free cheese, will use the investment boost to further product development, explore retail expansion, and recruit talent in its team.  Among the investors for the LA-based Misha’s was Chris Paul, 11-time NBA All-Star Paul and LA Clippers legend. Paul has been a vegan since 2019, with the basketballer claiming significant statistical and performance improvements after making the switch. As a businessman, Paul seeks opportunities that accelerate social change and sustainably build a fair, equitable society, and is a brand ambassador for Beyond Meat.  Another investor, Lisa Shamus, a leader in innovative branding and licensing was drawn to Misha’s after struggling to find a vegan cheese for her daughter who could no longer eat dairy. “Everything we tried tasted terrible,” she explained. When Shamus discovered Misha’s cheeses in Los Angeles, she bought every flavor as her family loved them so much. “With Misha’s, I saw the opportunity to invest not just in one item, but in a team with a vision to create an entire category that has tremendous possibilities.” LA’s Dairy-Free Dairy Company Misha’s was co-founded by lifelong friends Chef Ian Martin and Aaron Bullock and began operating in 2018. As reported by vegconomist, Misha’s has registered itself with the state of California to be a certified and licensed Dairy Company which allows them to legally use the word “Cheese.” The plant-based dairy market is ...

Matias Muchnick, the young CEO and founder of Chilean plant-based success story NotCo, today announced on social media a new partnership between his company and Burger King Paraguay, which will now produce the Veggie Whopper with NotCo’s vegan meat. Last month the company announced the raise of $235 million in a Series D funding round, which brought the company’s valuation to $1.5 billion, surpassing its goal of reaching unicorn status and becoming the first Unicorn company in Chile. This month the fast-rising Latin American plant meat producer also announced an agreement with Mostaza, the largest fast food chain in Argentina, for the launch of its new line of Mega NotBurger.  In June NotCo announced investment from Danny Meyer, to boost its ability to expand into the US restaurant market. Having launched its NotMilk in the US nationally at Whole Foods Market this year, the brand has already confirmed distribution in more than 3,000 shops in the first half of 2021. In interview with vegconomist just prior to the IPO, Matias said: “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 ...

The first ever Vegan Interior Design Week has been announced for November 2021, featuring over 30 global speakers, panel discussions, virtual exhibitors, and networking sessions. The event is not only for vegans, but any interior designers and design aficionados interested in sustainable, healthy, and conscious design choices.   “Just like any conference, in person or online, the real change happens from the connections we make” – Aline Dürr With the aim of becoming the world’s leading ethical interior design movement, Vegan Interior Design Week is the brainchild of award-winning interior architect and Founder of Vegan Interior Design, Aline Dürr. Dürr came to prominence with her book on vegan interior design which expertly explains easily implemented, cruelty-free, healthy, and sustainable interior design processes.  Exploring the challenges surrounding climate and ecological change through the lens of interior design, the event will be hosted on Beyond Animal’s leading digital networking platform and is free to attend via the event’s website. Dürr promises all attendees will walk away with a wealth of knowledge about creating living and working spaces more consciously.   Including kapok pioneer Flocus and cactus leather specialist Desserto amongst others, the virtual showroom will honour and promote the work of a diverse collective of creatives changing the industry, from next-gen material developers to conscious furniture suppliers, as well as ethically made bedding and toxin-free wall paint. “Vegan Interior Design Week is for everyone!” explains Aline Dürr, “Everyone who lives, sleeps, eats or works in a space, whether they are vegan or not, should register. ...