IFFCO Group has announced the launch of THRYVE, claimed to be the Gulf Cooperation Council (GCC’s) first 100% plant-based meat venture.
IFFCO is an international UAE-based group that manufactures and markets FMCG brands such as Noor, Rahma, Al Baker, Hayat, and Savannah. The company plans to commission its first plant-based meat factory by early 2023, accelerating the shift towards sustainable and healthy food sources.
Investing in the future
THRYVE will be an innovative plant-based food hub that aims to develop, manufacture, and market a sustainable, healthy plant-based meat and alternative foods portfolio. The venture plans to blend new food research and technology with local cuisine and deep-rooted traditions to create products tailored to the region’s demand for sustainable foods.
“Our plant-based venture launch is guided by IFFCO Group’s vision, ‘Investing in the Future,’ where building a resilient and sustainable food chain is fundamental. We have embarked on our journey by investing in cutting-edge food technology and are committed to catalyzing a sustainable shift in the food system in the Middle East,” said Andrey Dribny, CEO-Culinary at IFFCO Group.
The UAE plant-based market
Business Wire reports that the UAE meat substitutes market is expected to grow with a considerable CAGR through to 2028. Increasing awareness regarding personal health and well-being is driving market growth.
Several initiatives in the UAE are now working on alt proteins. In 2021, Sprout, a children’s plant-based food startup, raised USD 200,000 in funding from Bahrain-based FA Holding. That same year, one of the UAE’s biggest supermarkets, Spinneys, launched the Power of Plants initiative to encourage customers to adopt a more sustainable and healthy diet.
“Our actions today impact how we can THRYVE™ tomorrow. IFFCO’s action today is to seed a movement of change towards healthier, more sustainable eating in the Middle East and spark a local, regenerative, greener food value chain. THRYVE is on a mission to restore a balanced cycle by inspiring people to express their abundant love for and desire to nurture themselves, their loved ones, their communities, and the planet,” said Valeria Krynetskaya of IFFCO Group.
THRYVE will be at Gulfood Manufacturing 2022, Za’abeel Hall 4, from November 8-10, 2022.