Facts & Figures

SunOpta's revenue increases

© SunOpta

SunOpta’s Revenues Reach Record $243.5M in Q2, Driven by Plant-Based Foods

In the second quarter of 2022, SunOpta’s revenues increased by 20.4% to reach $243.5 million, the natural foods company has reported. Growth was largely driven by a 31.0% rise in plant-based food and beverage sales. The segment generated revenues of $145.9 million, with an increase in the number of oat-based products, plant-based beverages, and teas available. Prices rose by 13.7% due to inflation and an increase in the cost of …

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©PlantX

PlantX Opens ‘XMarket Uptown’ – 6,000 Sq. Ft. Vegan Grocery Store in Chicago

Canada’s PlantX (CSE: VEGA), a plant-based digital platform, is celebrating the grand opening of its newest brick-and-mortar superstore, XMarket Uptown in Chicago. At 6,000 sq. ft., PlantX says the new market may be the world’s largest all-vegan grocery store.  First opened in late July, XMarket Uptown is the company’s second US store, and sixth location globally. Offering a vast selection of plant-based foods, shoppers can find everything from meat, dairy, …

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Lavva Original Yogurt

©Lavva

Lavva Plant-Based Yogurt Acquired by Next in Natural, Names Jeff Lichtenstein as New CEO

Dairy-free yogurt brand Lavva announces it has been acquired by its lead operating partner, Next in Natural, a New York-based business development studio. Through the partnership, Lavva is also appointing Jeff Lichtenstein as its new CEO, and adding several strategic investors to its team.  According to Lavva, Lichtenstein brings extensive experience in launching and scaling national CPG brands in the natural category. As the founder and CEO of Gourmet Guru (acquired …

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Maple Leaf Foods

© Maple Leaf Foods

Maple Leaf Foods Reduces Plant-Based Greenleaf Division by 25% Following Decrease in Demand

Maple Leaf Foods, one of Canada’s largest meat producers, says it is downsizing its plant-based foods division, Greenleaf Foods, by 25% following consecutive quarters of disappointing sales. The company, which owns vegan food brands Field Roast and Lightlife, reports its Plant Protein sales fell by over 18% year-over-year to CAD $40.8 million due to lower retail volumes, reports Food Dive. Nonprofitable investments into expanding growth infrastructure also reduced gross margins …

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ProVeg Wagamama

ProVeg International

Wagamama Promotes Plant-Based: A Case Study by ProVeg International

ProVeg International has recently published a case study exploring British restaurant chain Wagamama’s plant-based menu expansion. Wagamama is well-known for its Japanese-inspired menu, which is now 50% plant-based as part of its effort to mitigate climate change. The case study explores how and why Wagamama bosses decided to expand its plant-based range, and provides key tips for other food service businesses looking to expand their plant-based offerings. These recommendations include: …

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Beyond Burger 3.0

©Beyond Meat

Beyond Meat Posts Second-Largest Net Revenue in Q2, But Missed Earnings Lead to Layoffs and Cutbacks

On Thursday, plant protein leader Beyond Meat (NASDAQ: BYND) reported its 2nd quarter results for 2022, and the company’s missed earnings have led to some layoffs and lowered revenue prospects amid ongoing economic turbulence. Net revenues for Q2 in 2022 were $147.0 million, a decrease of 1.6% year-over-year. The company posted a gross profit loss of $6.2 million, or a gross margin of -4.2% of net revenues. Beyond also decreased …

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Mr. Veggy Sausages in Brazil

©Mr. Veggy

Grano Foods Acquires Mr. Veggy to Popularize Plant-Based Meat in Brazil

Frozen vegetable company Grano has acquired Mr. Veggy, a leading provider of plant-based meats in Brazil, for an undisclosed amount, reports Estadao. Grano says it aims to popularize alt-proteins in the region by making them more affordable and easier to consume outside the home.  Founded in 2004, Mr. Veggy produces a frozen line of flavored burgers, sausages, kibbeh and more. Through the acquisition, Grano expects to more than double its …

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Steakholder Logo

©Steakholder Foods

MeaTech 3D Changes Name to Steakholder Foods to “Cultivate New Community of Meat Lovers”

MeaTech 3D Ltd., the first world’s first publicly listed cultivated meat company, announces it is changing its name to Steakholder Foods Ltd. (Nasdaq: STKH.) The new name is intended to reflect the company’s commitment to building a strong community of meat lovers who support changing the world through cultured meat production.  Founded in Israel, Steakholder is a leading innovator in the cultivated meat industry, having developed cutting-edge technology and processes …

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Nomoo Cheeseburger and Fries

©Nomoo

Nomoo Partners with Nestle Professional to Develop Proprietary Plant-Based Burger, Chicken and Cheese

LA burger concept nomoo is partnering with Nestle Professional, the world’s largest global foodservice manufacturer, to develop a proprietary line of plant-based products. The companies’ first offering, a gluten-free, non-GMO pea protein burger, will launch in October 2022, with a plant-based chicken burger and cheese currently in the works.  Created to help streamline nomoo’s operations, the new line will provide key advantages for the vegan fast food brand as it …

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Waters Plant Protein Science/ Research

©Waters Corp.

Waters Corp. Partners with the Plant Protein Innovation Center to Advance Alt-Protein Science

Waters Corporation, a leading analytical instruments company, announces it is now collaborating with researchers at the Plant Protein Innovation Center (PPIC) to help advance plant protein science. As the first analytical instrument company to join the PPIC, Waters will provide technology and expertise to enhance understanding of plant-derived amino acids, and drive the development of new protein sources.  First-of-its-kind center Located at the University of Minnesota, the PPIC is a …

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Chinova Bioworks Chiber Yogurt Preservative

©Chinova Bioworks

Chinova Bioworks’ Chiber Mushroom Preservative Receives FDA GRAS Status

Canadian food tech startup Chinova Bioworks has received a No Questions Letter from the US Food and Drug Administration (FDA) regarding its Generally Recognized As Safe (GRAS) application for Chiber Mushroom Fiber. The letter indicates the ingredient is now permitted for use in food applications.  Acting as a natural food and beverage preservative, Chiber is derived from the upcycled stems of white button mushrooms. According to Chinova, it can improve …

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Project Pollo Compete with Chick-Fil-A

©Project Pollo

Project Pollo Opens 13th Texas Location As It Aims to Compete with Chick-Fil-A

Project Pollo, a Texas vegan chicken chain, announces it will open its 6th location in San Antonio, TX on August 20th. The outlet will mark the chain’s 13th overall location as it approaches its 2nd anniversary, and continues on its bold mission to open 100 restaurants by 2025.  Crispy chick’n sandwiches For the latest opening, Project Pollo will host an August 18th celebration featuring a ribbon-cutting ceremony with the San …

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Bandit_FreshMozz_Peaches Bandit

©Bandit

Conscious Cultures Raises $1.5M & Rebrands to ‘Bandit’ as it Pushes Boundaries for Vegan Cheese

Plant-based foods company Conscious Cultures announces it has raised $1.5M in seed funding as it officially rebrands to Bandit. The round was led by venture capital firm Prime Movers Lab, and the funds will be used to continue scaling production and expand Bandit’s fan base. Bandit produces artisan dairy-free cheeses made primarily from cashews and coconut, including Fresh Mozz (mozzarella), Philly Spread (cream cheese), and Fruit ‘n Nut (cranberry goat …

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© Givaudan

Givaudan, Bühler, and Cargill to Open Tropical Food Innovation Lab in Brazil

Global companies Givaudan, Bühler, and Cargill have announced they will jointly be opening a Tropical Food Innovation Lab in Campinas, Brazil. The city of Campinas was chosen as it is widely regarded as Brazil’s tech hub. The three companies will work with the FoodTech HUB Latam and the Food Technology Institute (ITAL) to establish a 1,000-square-metre lab on ITAL’s premises. “Superior sustainable solutions” The new site will focus on the …

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HEURA-chorizo on baguette

© Heura

Heura’s Turnover Surges by 93% YOY, Reaching €14.7 Million

Heura’s turnover almost doubled to €14.7 million in the first half of 2022, the Spanish alt-meat brand has reported. This compares to a turnover of €7.6 million over the same period last year. So far in 2022, Heura has entered over 1,500 new retail stores across France, the UK, Switzerland, Italy, and more. Additionally, the brand’s meat alternatives have launched at 3,000 new restaurants. Heura’s total reach now stands at …

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