MyForest Foods News - vegconomist - the vegan business magazine

The Technology Behind the Success of Carnivore-Fooling Vegan Bacon

June 29, 2023June 29, 2023

By channeling cutting-edge technology, food tech companies make vegan bacon that looks, tastes and feels like pork bacon, convincing flexitarians and carnivores alike. Crispiness, moisture, bite, and flavor are the top challenges R&D and scientific teams must overcome to win over consumers. According to Coherent Market Insights, vegan bacon is becoming increasingly popular because companies have developed healthier alternatives. The global vegan bacon market is expected to grow at a CAGR of 6.6% between 2022 and 2032, totaling around US$ 2,425.4 million by 2032. Let’s look at the technology behind some of the most popular brands of vegan bacon. Hooray Foods — emulsion tech San Francisco-based Hooray Foods launched its first plant-based bacon in 2020, claiming that it rivaled the taste and texture of pork …

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Bacon

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Fairs & Events

Vegan Brand Wins in Meat Category at 2023 Mindful Awards, Beating Animal Meat Products

June 22, 2023

The annual Mindful Awards recognize the best mindful (largely US-based) companies, services, and products in the consumer goods industry. Excitingly, in the 2023 winners list, one vegan product came at top place in the Breakfast Meat Product of the Year category, meaning this plant-based meat was deemed superior (in terms of the criteria) to its animal meat counterparts. The competition is open to all individuals, products, companies, and organizations producing CPG products and services, to applaud conscious CPG companies and products that provide transparency to consumers, pay fair wages to their employees, ensure sustainable business practices, use recycled or recyclable materials, and produce healthier products with natural or organic ingredients. All nominations are judged by an independent panel of consumer goods industry experts. This year’s …

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Fundraising

MyForest Foods Raises $15M in Series A-2 to Scale MyBacon, Appoints Greg Shewchuk as New CEO

June 6, 2023

US mycelium startup MyForest Foods announces it has secured $15M in Series A-2 funding to support scaling and expansion of its popular flagship product, MyBacon. The company has also appointed food industry veteran Greg Shewchuk as CEO, replacing co-founder and former CEO Eben Bayer, who remain on as Chairman of the Board. The round was led by MyForest Foods’ parent company, Ecovative Design. MyForest Foods states the new funding will primarily be used to accelerate its retail and food service growth across the Eastern US, including New York City, where its best-selling meatless bacon product – MyBacon – is now available at multiple markets, including Fairway Market and Gourmet Garage. Since its highly successful launch in 2020, MyBacon has expanded to over 100 retailers across …

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Company News

MyForest Foods Triples MyBacon Availability, Grows Production and Prepares to Launch First Jerky

February 1, 2023February 1, 2023

Mycelium innovator MyForest Foods Co. announces a series of major growth milestones, including the expanded availability of its flagship MyBacon and the launch of its second product, MyJerky, later this year. The company also reveals new progress in mycelium production and growing its R&D team. MyBacon, MyForest’s best-selling mycelium bacon product, is now available at 32 retailer and foodservice locations across New York and Massachusetts. The news follows MyBacon’s initial debut in New York City with two retail partners in November 2022. The current list of partners includes: A Matter of Health (Upper East Side), Amish Market (East Village), Brooklyn Fare (West Village), Elm Wellness (Greenwich Village), Food For Health (Upper East Side) and Garden Gourmet (The Bronx). In addition, MyForest announces it is entering …

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Market & Trends

Industry Leaders Reveal Their 2023 Food Trend Predictions, Part 2

December 16, 2022December 16, 2022

Following part one from yesterday, in this second part of our 2023 predictions series, leaders from JPG Resources, MyForest Foods, and ISH Foods share their thoughts on what 2023 will bring to the vegan sector. Many in the food industry wonder what the future holds after a mixed year marked by food innovations and market uncertainty driven by inflation and supply chain disruptions. F&B consultancy JPG Resources: Glenn Pappalardo, Managing Director Allulose: According to Pappalardo, health and sustainability will continue to drive trends forward. JPG Resource‘s MD says that sugar substitutes will be in high demand. “Historically, other ingredients have done a decent job of giving people an alternative to sugar, but allulose appears to be the next evolution with fewer side effects.” Vegan versions of …

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Following Strong Demand, MyForest Foods Expands MyBacon into New York City

November 18, 2022

Food tech startup MyForest Foods Co. announces its mycelium-based MyBacon is now available in NYC, marking the product’s first foray into a major retail market. MyBacon can now be found at Westerley Natural Market and organic grocery store Elm Wellness in Manhattan and the West Village, respectively. According to MyForest, the launch results from significant momentum the company has gained since unveiling MyBacon in 2020. In addition to retail, MyForest will expand into food service by offering MyBacon at Herbie’s Burgers, a popular burger chain in Albany, NY. “Westerly Natural Market is New York’s City’s destination for plant-based, organic and all-natural items and supplements, which serves a diverse customer base with equally diverse preferences,” said Ricardo Nieves, store manager of Westerly Natural Market. “We are …

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TIME Names Meati Cutlet, Beyond Steak and MyForest Bacon Among Best Inventions of 2022

November 11, 2022

TIME Magazine has named plant and fungi-based meat creations from Meati, Beyond Meat and MyForest Foods among its top 200 Inventions of 2022, which selects innovations changing how we live. Best-selling cutlets Made from 95% mycelium, or mushroom roots, Meati’s Crispy Cutlet and Classic Cutlet earned glowing praise for looking and tasting like actual chicken. The Colorado startup has identified a unique strain of mushroom root that provides unparalleled flavor, texture, nutrition and speed of growth. According to Meati, it can transform a fifth of a teaspoon of spores into a full cow’s equivalent of meat in four days. The company also reports its first pre-order event in early 2022 sold out in less than 24 hours, while its most recent product drops sold out …

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Fungi, Mushrooms & Mycelium

MyForest Foods Opens ‘World’s Largest’ AirMycelium Vertical Farm and Expands MyBacon Retailers

July 26, 2022

MyForest Foods Co., maker of mycelium-based MyBacon, announces the opening of Swersey Silos, a new vertical farm dedicated to scaling the brand’s popular mushroom bacon. Utilizing AirMycelium technology, the farm is part of 120,000 sq. ft. of new infrastructure MyForest is building to serve one million consumers by 2024. Located in Green Island, NY, Swersey Silos was designed and constructed by Ecovative, the mycelium materials company that spun off MyForest in 2020. Using patented AirMycelium technology, the farm is the largest facility of its kind, and is capable of producing nearly 3 million pounds of MyBacon annually. With the opening of another facility in Saratoga Springs, NY this fall, MyForest projects it can serve one million consumers by the year 2024. This autumn, the brand …

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MyForest Foods Closes $15M Venture Loan for Whole Cut Mycelium Bacon

April 5, 2022

Horizon Technology Finance Corporation, a leading specialty finance company, announces it closed a $15 million venture loan to MyForest Foods Co., which produces mycelium-based bacon. Horizon states it funded $7.5 million toward the venture loan facility, with another $7.5 million contributed by advisor Horizon Technology Finance Management LLC. MyForest plans to use the loan proceeds for company growth and working capital purposes. Formerly known as Atlast, MyForest says it produces whole-cut animal-free meats from mycelium, the underground root structures of mushrooms. MyForest’s first product is MyBacon – gourmet strips created to offer the same taste, smokiness and crunch of traditional pork bacon. “Hyper-focused” on scaling Made from just six ingredients, MyBacon’s first pre-order sale sold out of its entire planned production run back in 2020. …

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Eben Bayer, founder of Ecovative & MyForest Foods. Image supplied

Interviews

Eben Bayer: “Ecovative Has Engineered Mycelium Structures That Out-Perform Plastic, Leather, Even Meat”

March 16, 2022March 16, 2022

It’s been a couple of years since we last spoke with Eben Bayer, and to say he has been busy since 2020 is quite the understatement. The founder and CEO of Ecovative Design and MyForestFoods Co. (previously known as Atlast) is inarguably one of the most active and prominent global players in the wonderful world of mycelium. Here are just a few of Bayer’s incredible achievements since the last Q&A with vegconomist: Nov 2020: Atlast Food Co launches its mushroom-based bacon alternative April 2021: Ecovative raises $60M in a Series D, for mycelium based packaging, alt leather, and bacon. April 2021: Atlast Food Co secures $40 million from investors including Robert Downey Jr.’s Footprint Coalition Ventures, bringing the total raise to $100M Jan 2022: The …

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