Cultivated meat company BioCraft Pet Nutrition, a manufacturer of pet food ingredients, announces that it has reached price parity with premium traditional meat

© BioCraft Pet Nutrition

Pet Food

BioCraft’s Cultivated Ingredients Achieve Price Parity with Premium Meat for Pet Food

Austrian cultivated meat company BioCraft Pet Nutrition, a manufacturer of cultivated ingredients for pet food, today makes an announcement claiming it has reached price parity with traditional premium pet meat products.  BioCraft says it has achieved a commercial price of $2.00 to $2.50 per pound of cultivated meat, making it competitive with premium meat for pet food. To put these prices in context, research by the Good Food Institute found that cultivated meat could be cost-competitive with some conventional meats by 2030 at a production cost of $2.92 per pound. CEO Shannon Falconer commented, “Achieving price parity and a robust nutritional profile for pets were the only elements holding back cultivated meat for the pet food industry — and BioCraft has now achieved both.” Rethinking …

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The Spare Food Co. Spare Starter

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Market & Trends

Upcycled Ingredients Market to Rapidly Gain Traction as Consumers Demand Solutions to Food Waste

According to a report by FACT.MR, the global upcycled ingredients market will grow with a CAGR of 6.4% over the forecast period 2022-2032, reaching a valuation of $512 million. Currently, a significant proportion of the food produced worldwide is wasted, which has a harmful impact on the environment. As consumer awareness of food waste increases, a growing number of companies are attempting to solve the issue by upcycling ingredients that would otherwise be discarded. However, the industry has faced some challenges, such as a lack of oversight when sourcing upcycled ingredients. Additionally, the nutrients in some upcycled foods may not be readily available. Some companies are addressing this by developing methods to extract nutrients from byproducts usually regarded as waste; for example, Austria’s Kern Tec …

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Cedric Verstraeten revyve CEO

Cedric Verstraeten © revyve

Cultivated, Cell-Cultured & Biotechnology

revyve: “Our Animal-Free Ingredients Are All-Natural, Helping to Create the Delicious Food Experiences Consumers Crave”

revyve is a foodtech company that is unlocking the full potential of yeast, a timeless natural super ingredient, to produce high-performing texturizing ingredients. With sustainability as its norm, revyve is on a mission to reinvent the food industry with future-proof ingredients that deliver the delicious food experiences consumers crave. Clean-label revyve products mimic dairy and egg functionality in traditional and plant-based foods. “The secret to unlocking the perfect texture in food can be as simple and sustainable as upcycling brewer’s yeast. And we can help humanity in the process,” says the Netherlands-based ingredient innovator. We had a quick catch-up with CEO Cedric Verstraeten about the company, its purpose, and impressive capacity: “We will reach a production capacity of 300 tons by the end of this …

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Company News

SHICKEN Unveils “Category First” Allergen-Free Plant-Based Chicken with Locally Sourced Ingredients

Fast-growing challenger brand SHICKEN Foods announces what the company describes as a category first: a plant-based chicken recipe that is free from the top 14 allergens, created solely with British ingredients at its newly certified allergen-free site, in Kent, England. As part of its strategy to make plant-based food more inclusive, removing consumption barriers around dietary requirements, SHICKEN explains that the recipe reformula involves a switch from soy and wheat to pea proteins, sourced from peas farmed in East Anglia; reportedly making it the first meat alternative protein in the UK to be allergen-free whilst using completely home-grown ingredients. This March, the British Asian pioneers received a further investment from Veg Capital to the tune of £4 million, bringing the total funding to date to …

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Soy bean, tofu and other soy products

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Business Wire

Global Soy and Milk Protein Ingredients Market Expected to Reach $24.9 Billion by 2032

DUBLIN–(BUSINESS WIRE)–The “Global Soy and Milk Protein Ingredients Market Report by Product Type, Application, and Region 2024-2032” report has been added to ResearchAndMarkets.com’s offering. The global market for soy and milk protein ingredients has demonstrated a robust growth trajectory, with the market size attaining a value of US$ 13.9 billion in the year 2023. In light of the current trends and driving factors, projections indicate that the market is poised to expand to US$ 24.9 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.69% during the forecast period from 2023 to 2032. Key Growth Drivers The market is experiencing considerable growth due to multiple factors, including an increasing inclination towards vegan protein products, heightened demand from fitness enthusiasts and athletes, as …

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Plant-based medallions on a production line

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Market & Trends

Meat Alternatives to Drive the Total Incremental Volume of Protein Ingredients to 860kt by 2027

According to research by Swiss company Giract, the total global incremental volume of protein ingredients is projected to reach 860kt over the forecast period 2022-2027, with meat alternatives accounting for the largest proportion of growth. The research finds that ingredients that can replicate the sensory properties of meat and are compatible with the technical requirements of processing are becoming increasingly available. This is encouraging manufacturers to produce more meat alternatives, which in turn is increasing consumer demand. Soy protein remains popular due to the availability of affordable non-branded options and its production scalability. Pea protein is also rapidly gaining interest due to its nutritional and functional advantages; however, some manufacturers have struggled to reformulate their recipes to use pea instead of soy. Fava bean protein …

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Mycelium bacon on a plate - CellX unveils its mycelium fermentation programme

Image courtesy of CellX

Cultivated, Cell-Cultured & Biotechnology

McKinsey Report: Majority of US Consumers Willing to Try Novel Protein Ingredients

A report by strategy and management consulting firm McKinsey has found that most US consumers are open to trying food and drinks that contain novel protein ingredients. The report divides novel proteins into three categories — animal-free products made using precision fermentation, biomass proteins derived from microorganisms, and fungi proteins such as mycoprotein and mycelium. Plant-based proteins were also studied for benchmarking purposes. The results indicate that 63% of respondents would try animal-free proteins, 56% would try biomass proteins, and 49% would try fungi proteins. Comparatively, 77% are open to plant-based proteins. 28% said they would be more likely to try a novel ingredient if it made the food healthier, and nutritional descriptions such as “good source of protein” were found to be the most …

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Jooules' team.

CFO Luke Stevenson (L), Founder David McLellan, and Research Scientist Usama Mukhtar © Jooules

Cultivated, Cell-Cultured & Biotechnology

Jooules Secures NZ$1M to Transform CO2 into Complete Protein Ingredients

Jooules, a New Zealand startup that turns greenhouse gas emissions into protein ingredients, has secured NZ$1 million in a pre-seed round led by early-stage investor Sprout Agritech LP. David McLellan, a participant in the Sprout Accelerator program, founded Jooules to transform protein production with an animal and land-free process that delivers a climate-positive ingredient.   A pioneer in New Zealand, the startup leverages cutting-edge science, gaseous fermentation, and specific microbe strains that consume CO2 and turn it into a complete protein powder.  With the new capital, the startup plans to grow its technical team and scale its platform while it develops products in collaboration with the Crown research entity SCION.  Warren Bebb, investment manager at Sprout, shares, “They’ve invented a way to address a global challenge that uses …

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spirulina-based smoked salmon

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Ingredients

Report Advocates for Less Processed Ingredients to Reframe Negative Narrative Around UPFs

UK consultancy New Food Innovation has published a new report titled “Trust the Process – Why Less is More in Processed Foods.” Compiled by food scientist, chef, and author Anthony Warner, the report discusses the differences between highly processed and less processed foods, and how the latter could potentially address some of the negative impacts associated with highly ultra-processed foods (UPFs). According to Warner, since food processing is essential to feed people in our industrialised societies, we need to understand and address how processing impacts the healthfulness of foods rather than lumping all processed foods into the ‘all processing is bad’ narrative.  “Many advocates of the UPF system appear to ignore the highly relevant field of lower processing, because to embrace it would be to …

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Edonias's founders.

Pierre Mignon (L), Hugo Valentin, and Nicolas Irlinger © Edonia

Algae, Microalgae & Seaweed

Edonia Raises €2M to Redefine Plant-Based Alternatives with Umami-Powered Ingredients from Microalgae

Edonia, a French startup unlocking the potential of microalgae to create protein ingredients for plant-based foods, has raised €2 million in a pre-seed financing round led by France’s leading impact seed fund, Asterion Ventures, with participation from Bpifrance. With the new capital, the Paris-based startup will expand its technical and business teams and transition to the scale-up phase. In addition, it will gear up to launch its first product: a texturized ingredient for plant-based meat that is said to offer a meat-like texture, grilled umami flavor profile, plus 30% protein, naturally and without additives. Edonia shared: “We are proud to complete this pre-seed financing round with Asterion Ventures, France’s leading impact seed fund. Thanks to the financial support from Bpifrance, which complements this equity round, we are perfectly positioned …

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Green Boy

© Green Boy

Pet Food

Green Boy Launches Global Plant-Based Pet Food Ingredients Division

Plant-based food ingredients supplier Green Boy has launched a new division dedicated to plant-based pet food ingredients, extending its operations globally. This new venture aims to provide a comprehensive range of plant-based ingredients, including starches, sweeteners, proteins, and fibers, to pet food manufacturers. The newly formed pet food ingredient sector at Green Boy will supply ingredients derived from pulses, grains, cereals, and vegetables. This includes a variety of proteins such as vital wheat gluten, pumpkin, pea, potato, and chickpea proteins. Additional offerings will include sweet potato, psyllium husk, arrowroot, and tapioca. Co-founder and owner of Green Boy, Peter van Dijken, commented, “Green Boy has always operated with the goal of accelerating the plant-based food reformation, to help with the transition from animal-based food products to …

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Freshcut Foods

© Freshcut Foods

Company News

Plant-Based Ingredients Supplier Freshcut Foods Reports Strong Performance With £42.4M Turnover

Freshcut Foods, a UK supplier of plant-based ingredients, has reported strong financial results for the year ending in July 2023. The company’s profit and loss account shows a turnover of over £42.4 million, up from £35.4 million the previous year. However, pre-tax profits were down from £709,567 to £179,270. Freshcut Foods aims to “make veg the hero”, supplying fresh vegetables to global food service brands, chilled food manufacturers, and recipe box operators. The company is catering to the growing trend towards flexitarianism in the UK, with a report published last year finding that the country’s plant-based food market is growing at a rate of 9.58%. Freshcut Foods recently announced on LinkedIn that it had led a Plant Forward Cuisine session for major supermarket chain Tesco, …

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Poseidona raises funding for algal protein ingredients

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Investments & Acquisitions

Female-Led Startup Poseidona Raises €1.1M for Innovative Algal Protein Ingredients

Spanish food tech company Poseidona has raised €1.1 million in a pre-seed funding round, with the aim of further developing its innovative and sustainable algal protein ingredients. The round was led by climate tech and blue economy VC fund Faber. Other participants included Dozen Investments, Sprout & About, Proveg International, and WA4STEAM (Women For STEAM). Poseidona uses algal sidestreams and invasive seaweeds to create cost-effective proteins with significantly lower water use, land use, and carbon emissions than animal-based or conventional plant-based proteins. Currently, the company is focusing on side streams from the production of gellifiers, but it also plans to begin using Rugulopterix Okamurae, an invasive seaweed in the Mediterranean. This will contribute to the management of marine ecosystems, and could be expanded to use …

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Jeremy Xu

Jeremy Xu. Image supplied.

People

ABF Ingredients Hires Ingredion SVP Jeremy Xu as CEO

Global specialty ingredients producer ABF Ingredients has appointed Jeremy Xu as its new CEO. He will join the company on April 9. Xu is currently SVP, Chief Innovation Officer, and President of Global Healthful Solutions at global ingredient producer Ingredion. He will take over from Fabienne Saadane-Oaks, who has been CEO of ABFI since 2015 and has helped the company’s portfolio grow from four to seven businesses (AB Biotek Human Nutrition and Health, AB Enzymes, ABITEC, Fytexia, Ohly, PGP International and SPI Pharma). Xu will bring significant experience gained throughout a 30-year career at Dupont, DSM, and Ingredion. He will lead ABFI’s next phase of growth, which will involve enhancing capability in R&D and commercial activities through investment. “I have long admired ABFI from afar …

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hemp

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Protein

Protein Industries Canada Announces $6.9M Project for Novel Hemp and Sunflower Protein Ingredients

Protein Industries Canada unveils a new initiative aimed at bolstering the nation’s supply of protein-rich ingredients derived from hemp and sunflower. This venture, backed by a collaboration with Burcon NutraScience, HPS Food & Ingredients, and Puratos Canada, aims to bolster the supply of plant-based protein ingredients in Canada and offer food manufacturers an expanded array of protein alternatives focused on both functionality and taste. This project is notable in its approach to acknowledging the applications of hemp and sunflower flour, through which Burcon seeks to extract hemp protein isolate, sunflower protein isolate, and sunflower protein concentrate. These ingredients, novel to the market, are anticipated to cater to the needs of food and beverage manufacturers striving to provide Canadian consumers with nutritious, sustainable, and flavor-neutral protein …

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Thomas Cresswell

Thomas Cresswell. Image supplied.

Opinion

Op Ed: Thomas Cresswell, CBO of Melt&Marble, on the Route to Market and Scalability for Fermentation-Enabled Ingredients

Thomas Cresswell has over a decade of diverse experience spanning investment banking, strategy consulting, and venture capital. He began his career in the M&A team at RBC Capital Markets in London, before transitioning to strategy consulting at Strategy& (formerly Booz&Co). Driven by a passion for food and sustainability, Thomas then embarked on a career shift, joining Cargill’s Corporate Strategy Team. Here, he spearheaded initiatives such as the global specialty fats strategy and played a pivotal role in establishing Cargill Ventures. He orchestrated over 15 investments in the agrifood sector, focusing on precision fermentation, cultivated meat, and alternative protein and fat solutions. Thomas is now the Chief Business Officer at Melt&Marble, continuing his mission to revolutionize the food system. In this piece, he discusses challenges relating …

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Juicy Marbles launches at Tesco

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Retail & E-Commerce

Tesco Reports “Phase Two of Plant-Based Revolution” With Rising Demand for Meat-Free Ingredients

The UK’s largest supermarket chain Tesco reports that the plant-based revolution appears to be entering a second phase, driven by consumers cooking from scratch. The retailer noted that while plant-based is “the biggest food trend this century”, there was a slight dip in sales last year, attributed to the novelty wearing off for customers who were buying the products out of curiosity. However, sales of meat-free ingredients and whole cuts are now on the rise again. Over the last three months, sales of fish alternatives have risen by a huge 100% compared to the same period last year, while tofu and tempeh sales are up by about 20%. Plant-based steaks and chicken breasts have also seen a 20% sales boost, while meat-free burgers are up …

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Biotis, a new range of alga based ingredients full of omega-3s.

© FrieslandCampina Ingredients

Ingredients

FrieslandCampina Ingredients Unveils Alga-Based Omega-3 Powder for Vegan Dairy & More

The ingredients arm of the Dutch dairy cooperative FrieslandCampina, announces the launch of Biotis DHA Flex Powder, a range of microencapsulated alga-based ingredients, which includes one product specifically design for vegan dairy and other plant-based products. FrieslandCampina Ingredients, which specializes in microencapsulation technology, says its new algae-based products will help brands create high-quality food, drinks, and supplements that provide the multiple health benefits of omega-3 while meeting the dietary preferences and expectations of consumers. According to the company, 53% of Europeans and 63% of Americans acknowledge the importance of omega-3s for brain, eye, and cardiovascular health. Despite this awareness, global DHA intake remains low due the challenge in finding tasty vegan or vegetarian products. Vicky Davies, Global Marketing Director at FrieslandCampina Ingredients, comments: “Biotis® DHA Flex …

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Avena Foods oats and pulses

© Avena Foods

Investments & Acquisitions

Protein Industries Canada Announces $19.2M Investment in Canadian Plant-Based Ingredients Project

Global innovation cluster Protein Industries Canada has unveiled a $19.2 million investment initiative to develop innovative Canadian ingredients for new snack and food options. Avena Foods, a key player in this project, will leverage the funding to create oat and pulse ingredients that will replace processing aids in products by Big Mountain Foods, Danone Canada, and Old Dutch Foods. This will lead to new consumer offerings, including allergy-friendly alternatives. The Honourable François-Philippe Champagne, Minister of Innovation, Science, and Industry, stated, “The global food market is in need of sustainable and nutritious ingredients, and Canada is helping meet that demand. By supporting projects like this one, Protein Industries Canada, one of Canada’s global innovation clusters, is securing Canada’s position as a global supplier of plant-based ingredients.” Protein …

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Algae, Microalgae & Seaweed

Roquette Introduces 4 New Pea Protein Ingredients for Improved Taste and Texture in Plant-Based Foods

Leading ingredient manufacturer Roquette announces the launch of four multifunctional pea proteins designed to improve taste and texture in plant-based and protein-rich foods. The French company, which currently operates in more than 100 countries through more than 30 manufacturing sites, broadens its portfolio with four specialized pea protein ingredients: NUTRALYS® Pea F853M (isolate), NUTRALYS® H85 (hydrolysate), and two textured variants, NUTRALYS® T Pea 700FL and NUTRALYS® T Pea 700M. These innovations are tailored to overcome common issues in incorporating plant proteins into food and beverage products, offering enhanced texture and protein density for items like nutritional bars, protein drinks, and plant-based meat and dairy alternatives. The NUTRALYS® Pea F853M isolate is described as offering exceptional gel strength, facilitating the creation of meat alternatives and plant-based …

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