vegconomist - the vegan business magazine

News of Oatly’s recent court loss to Glebe Farm may quickly be forgotten by the oat milk giant, as the Swedish company posted Q2 revenue of $146.2 million, a 53.3% increase compared to the year prior. Oatly also forecasts a further 64% increase in its annual revenue as the plant-based milk craze shows no signs of stopping.  With rising demand for plant-based milk at restaurants and coffee chains such as Starbucks – with which Oatly has brand partnership and nationwide distribution – the alt dairy boom is expected to continue growing. The success of the Starbucks partnership is clear to see, with the coffee chain accounting for a remarkable 27% of Q2 sales. Oatly also reported restaurant sales are now recovering from the pandemic-driven fall of last year.  The publicly listed Oatly now expects its annual revenue to increase to $690 million annually, a huge surge of 64%, taking into account these factors as well as its expansion into new markets, most notably China. To meet demand, Oatly is opening a new US production facility in Texas – the company’s biggest in North America – as well as doubling capacity at its plant in the Netherlands. It has also opened a manufacturing facility in Singapore, with more facilities slated worldwide to meet forecast growth.  “2021 represents the most transformational year in our Company’s history with the completion of our successful IPO in May, which has provided us with the capital to fuel new production capacity globally as we scale our ...

The following is an open letter from ProVeg International to the Wall Street Journal, in response to the disinformation printed in the sponsored full-page ad entitled “Beefing up Sustainability” from Saturday 14th August. Dear Wall Street Journal, Dear Mr. Murray, We were forwarded the attached advertisement with manipulated science displayed in a recent Wall Street Journal, and we would like to ask your help in rectifying the advertisement as continuing to promote beef consumption will cause tremendous damage to our planet.  This advertisement is based on questionable data, it is not credible, and contradicts data supported by the international scientific reports and data as presented by institutions like the FAO, UNEP and the IPCC (leading international data sources.) The Food and Agriculture Organization of the UN, for example, says: Total emissions from global livestock: 7.1 Gigatonnes of Co2-equiv per year, representing 14.5 percent of all anthropogenic GHG emissions…Cattle (raised for both beef and milk, as well as for inedible outputs like manure and draft power) are the animal species responsible for the most emissions, representing about 65% of the livestock sector’s emissions…feed production and processing (this includes land use change) and enteric fermentation from ruminants are the two main sources of emissions, representing 45 and 39 percent of total emissions, respectively. The US figures for livestock production are lower but typically do not include any emissions caused elsewhere, for example for the production of livestock feed, usually in South America, which are a key driver of greenhouse gas emissions. Furthermore, ...

Rebellyous Foods, the Seattle startup working to make plant-based chicken affordable by developing novel manufacturing equipment, announced yesterday that Puvin Pichai, previously of Beyond Meat, has joined the company as Director of Equipment Research and Development. Puvin is a chemical engineer with experience in food and fine chemical process and equipment design, development, pilot scaleup, and technology transfer for commercial manufacturing. Most recently as Director of Process Research at Beyond Meat, Puvin led the Innovation Engineering and Pilot teams where they designed and manufactured novel components, as well as conducted trials to optimize process conditions and produce prototype samples. He previously held a senior management position in directed research and engineering teams at Novus International. He holds a BA magna cum laude in Chemistry from Harvard College, and a PhD in Chemical Engineering from the California Institute of Technology. Puvin joins Rebellyous as the company expands its retail and foodservice growth. Founded in late 2017, the plant-based food production and manufacturing technology company is gaining momentum. Its products are now available in more than 200 Safeway stores, as well as Haggen, Metropolitan Market, and dozens of independent grocers in the Northwest. As well, its nuggets that meet USDA child nutrition standards are being rolled out this fall on menus at Dublin Unified School District, Pleasanton Unified School District, and Newark Unified School District in Northern California. “We are thrilled to welcome Puvin to the team as he shares our vision of fundamentally changing production methods to create a more efficient, ...

DUBLIN–(BUSINESS WIRE)–The “Global Pea Processed Ingredients Market by Type (Pea protein (Isolates, Concentrates and Textured), Pea starch, Pea fiber, Pea Flour), Application (Food & Beverages), Source (Yellow split peas, chickpeas and lentils), and Region – Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering. The global pea processed ingredients market is expected to value at USD 3.1 billion in 2021 and is projected to reach nearly USD 5.0 billion by 2026, growing at a CAGR of 10.1% during the forecast period (2021-2026). Growing vegan population and popularity of plant based ingredients is resulting to the increase in the demand for pea processed ingredients. Further, advancements in the extraction and processing technologies is also triggering the market growth for pea processed ingredients. In addition to this, increase in the demand for gluten-free products is also resulting to the rise in the demand for pea processed ingredients. Protein segment is estimated to account for the largest share in 2021 for pea processed ingredients market By different type, pea processed ingredients market has been segmented into pea protein, pea starch, pea flour and pea fiber. Pea protein is highest in the pea processed ingredients business owing to the increasing demand for plant based ingredients. In addition to this, rising awareness towards the benefits offered by pea protein is boosting this segment over the years. Pea protein is neutral in taste and has an array of applications in the food, beverage, pet food and feed industries. Several countries are now focusing on increasing ...

As California’s government looks set to implement Proposition 12 – giving some farm animals raised for food additional space – plant-based bacon should capitalize as conventional bacon prices rise. When fully implemented on January 1, 2022, Proposition 12 will affect close to one million pigs and 40 million hens, giving them slightly more space in their cages. At present, pigs are trapped in cages that prevent them from turning around for practically their whole lives. Proposition 12 will allow the animals to at least turn around, though Big Meat lobbies are fighting hard to block the move. One outcome would be the rise of bacon prices as the costs of adapting farms to the new laws will be passed onto the consumer. With plant-based pork products already seriously disrupting the market – sales of plant-based bacon are up 25%, double the rate of animal-based bacon – it could be the perfect opportunity for a plant-based explosion in the category. “Animal welfare has been a serious issue in the United States food system for decades, Hooray Foods supports the implementation of Proposition 12, as it helps our state of California move in a positive direction to support the wellbeing of animals. However, it doesn’t address the continued environmental consequences from pork and meat production,” explains Sri Artham, founder of Hooray Foods, the producer of vegan bacon that sizzles, smells, and tastes like animal-based. Big Meat’s Big Problem  “As a mission-driven company, one of our goals at Hooray Foods is to help ...

Olaf Koch, ex-chief executive of retail giant Metro, has set up his own fund for innovative food startups, named Zinitus, which is initially expected to raise around 150 million euros. The new fund’s website states, “The food industry is facing a significant change. Greatly altering consumer requirements paired with the need to use our planet’s resources more responsibly will lead to an unprecedented wave of innovation. We are determined to support the upcoming wave of innovations, accelerate it and make it sustainable . We bring a unique combination of knowledge, experience and contacts to the table, which provides the basis for superior value generation along the whole chain. “We are ZINTINUS and we will actively contribute to the transformation of the food industry.” Speaking to Handelsblatt, Koch commented on his plan, saying, “We want to support the founders not only with capital, but also with our broad network and knowledge. Things that money can’t buy.” According to Koch, interest from potential startups seeking funding is already very high. In the first closing of subscriptions, Zintius was already able to raise around 50 million euros from family offices and high-net-worth individuals. Koch goes on to say, “Since the pandemic at the latest, a rethink has taken place among consumers across generations. The playing field in the eight trillion dollar food industry is huge.” ...

After the recent alarming IPCC report on climate change was released with stark warnings for the future of humanity, the Spanish “food activists” behind Heura have given an urgent message to UK politician Boris Johnson: stop ignoring the science and make plant-based diets part of climate policy.  Following the UK government’s dangerous lack of action, activists and Heura co-founders Marc Coloma and Bernat Añaños have made the video message, as well as launched a petition to demand that world leaders support a plant-based diet to combat climate change. In advance of COP26, they have also penned an open letter to Boris Johnson, which states: “We have listened to your words. We have noticed your (lack of) actions. Now it’s time to act and address diet as a key way to drive positive impact on the climate crisis.” Read the full letter here and click here to see the video campaign. In some countries, 42% of people support the promotion of plant-based diet as a climate policy, according to the UN’s People’s Climate Vote, – the largest ever survey of public opinion on climate change – with a global average of 30%. Fellow alt meat leader Impossible Foods also released a report on how animal agriculture is destroying the Earth, demonstrating how sustainable plant-based foods can help in the fight to reduce the major impacts of climate change.  Catalan brand Heura has become known for its brave and impactful messaging, having recently sent a similar call to action for Spanish Prime ...

Meatless Farm today announced the launch of its burger patties as a plant-based protein option on the Chef’s Plate menu. Effective today, consumers across Canada are able to select the Meatless Farm patty as a recipe option with Chefs Plate, marking the first time the meal kit company has offered plant-based substitutions on its weekly menu. Meatless Farm launched in the UK in 2018 and has since expanded into Europe, the US, Canada and the UAE. A new factory was recently opened in Canada, and its subsidiary Lovingly Made Ingredients, announced this March the beginning of plant-based protein production at its new 33,000-square-foot facility in Calgary. Expansion into Israel is also imminent as well as further expansion within the US market in 2021. In Canada, Meatless Farm’s burger patties, along with its line of plant-based ground, breakfast sausages and sausage patties can be found at Metro Ontario’s 130 stores and at all Whole Food locations in British Columbia. Meatless Farm is featured in the Naked Veggie Cheeseburger meal option for its first week, with many recipes to come including Loaded Sweet Potatoes, Korean Bowls, Skillet Mexican Bowls and more. This represents an exciting step forward in Chefs Plate’s menu innovation and commitment to offering flexitarians more choice and flexibility, with meat-free options to be offered almost weekly. A new made-to-order feature is also planned in the coming weeks, which will allow consumers to swap meat-based meals for plant-based proteins in select recipes, including Meatless Farm’s burger patties. “This launch with ...

Bio food tech startup TurtleTree has entered a new strategic partnership with industrial biomanufacturing specialist Solar Biotech. The deal is an important step in TurtleTree’s scale-up process for the manufacture of its cell-based milk ingredients. Solar Biotech, led by industrial biotech expert Alex Berlin, brings bioproducts from benchtop to industrial bioprocessing commercial scale using proprietary technology and solar energy. This is a key move for TurtleTree as one of the biggest challenges for food tech companies is developing the technologies required to scale up bio-manufacturing processes. Based in Singapore and the US, TurtleTree recognizes that a key factor in reaching price parity with traditional food production methods is the availability of technologically advanced large-scale food-grade bioprocessing facilities. Backed by Green Monday Ventures and Prince Khaled’s KBW Ventures amongst others, TurtleTree is moving its ‘clean milk’ products ever closer to market.  Other companies in the cell-based field are also scaling up production, such as cell-cultured salmon startup Wildtype with the opening of its new pilot plant in San Francisco. Cell-cultured at scale is on the horizon The Solar Biotech partnership is not the first for TurtleTree recently, as it recently announced a partnership with Dyadic International, a global biotechnology company working towards accelerating development and lowering production costs in the sector. “TurtleTree’s decision to back Alex Berlin and Solar Biotech’s team from the early days has started to pay dividends. Our teams can focus on lab-scale R&D and go-to-market as we look to play a major role in the sustainable food ...

UK fashion house Stella McCartney has created a new version of its Eclypse sneakers, made entirely with sustainable materials. The shoes’ uppers are made from recycled polyester, while the sole features renewable plant-derived materials. The sneakers also have vegan leather panels and a lining made with ECONYL, a type of recycled nylon made with post-consumer waste. Called Reclypse, the design is made by hand in Italy and will be available to buy from late August. Shifting towards sustainability The original Eclypse shoes are made from polyester and polyurethane, but consumers are increasingly searching for more sustainable, plastic-free options. Many of Stella McCartney’s new products cater to this demand, including a recent collection featuring materials such as sustainably sourced beech wood and recycled fabrics. The collection was launched alongside a campaign urging changemakers to ban the use of animal fur in fashion. In March, Stella McCartney also launched garments made from Bolt Threads’ mushroom-based vegan leather. It is one of several companies (including Adidas and Lululemon) to begin using the biodegradable fabric, which is known as Mylo. “The Stella McCartney Reclypse is fashion innovation, taking luxury trainers one step closer to sustainability and circularity – it stylishly blends athleticism with escapism,” said the fashion house in a statement. ...