Global/International: Latest Plant-based and Cellular Agriculture Market News from Global/International on vegconomist

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UN Report Finds Meat Alternatives Have “Strong Potential for Reduced Environmental Impacts”

December 11, 2023

A report by the United Nations Environment Programme (UNEP) has investigated the potential of plant-based, cultivated, and fermented meat alternatives to address the environmental impact of animal foods. The report notes that forecasts for the growth of the alt meat market vary considerably, with projections for its share of the total meat market ranging from 4 to 60 percent by 2040. The authors suggest that significant technological advances will be needed to help meat alternatives compete with animal products on taste and price, and to make them available on a wider scale. However, meat alternatives already “show strong potential for reduced environmental impacts compared to many conventional animal products”, particularly if produced using low-carbon energy. Furthermore, they have public health benefits such as lowering the …

Organisations and brands:

United Nations Environment Program (UNEP)

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Market & Trends

Global Vegan Sashimi Market to Be Worth $218.8M by 2033

December 8, 2023

According to a new report by Future Market Insights, the global vegan sashimi market will be worth $218.8 million by 2033, growing with a CAGR of 8.5% over this period. As consumers become increasingly concerned about the environment, animal welfare, and health, demand for plant-based seafood products is growing rapidly. At the same time, interest in Japanese dishes such as sushi and sashimi is also increasing. These factors will lead to a rise in demand for vegan sashimi. Over the forecast period, government initiatives supporting the development of plant-based foods are expected to help the industry expand, while new technologies will make it possible to produce better quality, more realistic products. Expanding economies in Asian countries, the increasing trend towards fusion cuisine, and rising demand …

Organisations and brands:

Future Market Insights

Marketing & Media

Impossible Foods CEO Outlines Crucial Shifts Needed for Survival of Plant-Based Industry

December 7, 2023

The plant-based industry is standing at a pivotal crossroads. While long-term growth predictions do appear to be promising and meat consumption is declining in developed countries such as the UK, the US, Australia, and certain European markets, current challenges such as decreasing sales and an increasingly competitive marketplace create substantial setbacks for plant-based companies. The plant-based sector’s current predicament stems from several factors, including potential marketing missteps, consumer misinformation, and intense competition from traditional animal agriculture. Peter McGuinness, CEO of Impossible Foods, spoke to this at the recent Adweek X conference in Los Angeles, citing a much-needed industry-wide transformation that emphasizes collaboration to overcome these challenges. At the conference, McGuinness pointed out the detrimental effect of early “wokeness” and foodtech positioning in plant-based meat marketing, which he …

Organisations and brands:

Impossible Foods

PlantBaby Celebrates 3rd Anniversary, Doubling YOY Revenue with $6M in Sales Amid Global Expansion

December 6, 2023

PlantBaby, a producer of plant-based child nutrition products, is celebrating its third anniversary with substantial revenue growth and an upcoming partnership set to expand its reach globally. Launched in 2021, the company claims it has doubled its revenue yearly, reporting an impressive $6 million in the first two years. The company’s flagship product, Kiki Milk, has been a significant contributor to its success. Since its launch in December 2021, the company has been expanding its retail presence in the US, with a recent rollout in nearly 100 Wegman’s Food Markets, along with the addition of new product offerings, and now Kiki Milk is set to make a global impact. A strategic partnership with iHerb will facilitate Kiki Milk’s availability in over 180 countries. Alex Abelin, co-founder …

Organisations and brands:

Kiki Milk

PlantBaby

Coffee plants. Image supplied.

Company News

ofi Wins Fi Europe Sustainability Innovation Award for Carbon Scenario Planner Tool

December 4, 2023

ofi, a producer of sustainable and natural food products and ingredients, has won the 2023 Sustainability Innovation Award at Food Ingredients Europe. The company was recognized for its Carbon Scenario Planner, a digital tool that helps food and beverage manufacturers calculate the impact of different scenarios for reducing greenhouse gas emissions. ofi uses the Carbon Scenario Planner to model the outcomes of various decarbonization interventions, then works with its customers to plan climate actions across the value chain. The tool is integrated into the company’s sustainability management system, AtSource, which provides customers with data and insights allowing them to report their environmental, social, and economic impacts. For example, ofi recently used the tool to help a coffee company to which it supplies Guatemalan coffee beans. …

Organisations and brands:

ofi

Image courtesy of Climax Foods

Market & Trends

Vegan Cheese Market to Surpass $8 Billion by 2032

December 1, 2023

According to a report by marketresearch.biz, the vegan cheese market will increase in value from $4.2 billion to $8 billion by 2032, growing with a CAGR of 6.2%. The predicted growth — described as “unprecedented” — is attributed to increasing consumer awareness of animal welfare, health, and sustainability. New technologies — such as the recent development of high-protein cheese alternatives made from fermented legumes in Denmark — will also boost the market by improving taste, texture, and nutritional value. Furthermore, the growing availability of vegan cheeses in supermarkets and restaurants will increase sales and consumer awareness. Growth for vegan mozzarella Soy-based vegan cheese is expected to account for two-fifths of the market, with almond-based products also seeing significant growth. In terms of variety, mozzarella and …

Organisations and brands:

marketresearch.biz

Seafood alternatives at Pitch + Plant 2023

Startups, Accelerators & Incubators

Vevolution Reveals the 6 Startups Participating in Pitch + Plant 2023

December 1, 2023

Vevolution — an investment platform for plant-based and cultivated companies — has revealed the six startups that will be taking part in Pitch + Plant 2023, the platform’s final and largest pitch event of the year. They are: Alcheme Bio – Improving the taste of cultivated foods using ML-driven compositional analytics and flavor media supplements. Esencia Foods – Creating affordable, natural seafood alternatives using solid-state fermentation of mycelium. Genuine Taste – Developing customizable cultivated fat to texturize alternative meat products while also improving their taste. Livestock Labs – Creating customized cell lines to help cultivated meat companies save money and time. The startup uses advanced genetic engineering and technology to streamline cell line development, reducing costs and accelerating innovation. Mi Terro – Developing ocean-degradable and …

Organisations and brands:

Vevolution

Market & Trends

Global Plant-Based Milk Market to Grow at 11.7% CAGR, Reaching Value of $47.55Bn

November 24, 2023

According to a report by ResearchandMarkets, the global plant-based milk market will be worth $47.55 billion by 2030, growing at a CAGR of 11.7%. The high prevalence of lactose intolerance and milk allergies will be a key market driver, along with increased health awareness. Environmental concerns and increased support from governments and investors will also benefit the industry. However, fluctuating raw material prices and consumer preferences for animal-based dairy products could restrain the market. Allergies to soy, nuts, and grains could also pose a challenge. By type, oat milk is expected to register the highest growth rate over the forecast period, as it is soy-free, low in fat, and can be made gluten-free. Its neutral taste and rising consumer awareness of the health benefits of …

Organisations and brands:

ResearchandMarkets

Startups, Accelerators & Incubators

Bunge Introduces Plant-Based Butter for “Superior-Tasting” Commercial Baking

November 20, 2023

Looking to set a new standard in the plant-based foods landscape, Bunge, a global food and agribusiness company, has introduced Beleaf PlantBetter, a “superior-tasting” and sustainable plant-based butter designed for bakery applications. Bunge claims that PlantBetter mimics the taste, texture, and melting behavior of traditional butter to offer manufacturers a versatile solution for plant-based bakery. The NPD is described as a clean-label alternative made with natural ingredients, such as coconut, cocoa butter, rapeseed, and lecithins. Regarding sustainability, Bunge explains that PlantBetter’s carbon footprint halves standard dairy butter emissions and that these figures have been verified by a third-party study conducted by the Terra Institute. Game-changing innovation According to Bunge, the growing demand for plant-based dairy and the increasing instability in butter prices have created opportunities …

Organisations and brands:

Beleaf

Bunge

Market & Trends

Fermentation Enabled Alternative Protein Market to Grow With 14% CAGR

November 19, 2023

According to a new report by InsightAce Analytic, the global fermentation enabled alternative protein market is projected to grow with a significant CAGR of 14% over the forecast period 2023-2031. The market was valued at $370.39 million last year, and will grow to reach over $1.19 billion by 2031. The report includes companies using traditional, biomass, and precision fermentation techniques, which involve using microorganisms such as algae, yeast, and fungi to produce food ingredients. It finds that there are over 50 players in the industry, with the majority based in the US. The rise of flexitarianism and increased demand for sustainable proteins is driving the market and helping fermented protein companies to gain investments. However, the industry faces challenges regarding public perceptions, as many consumers …

Organisations and brands:

InsightAce Analytic

Sweets & Snacks

Cocoa-Free Chocolate Brand WNWN Launches Globally for Wholesale & Food Service

November 17, 2023

WNWN Food Labs, a UK-based producer of cocoa-free chocolate, has announced that wholesale packs of its products are now available worldwide to supply food service outlets, bakeries, CPG companies, and more. WNWN already partners with several bakeries and restaurants across the UK and the EU, and recently entered a joint development agreement with leading European bakery and confectionery supplier Martin Braun-Gruppe. The supplier has customers in over 70 countries worldwide. WNWN’s dark and plant-based m•lk choc are now available as easy-melt buttons in 1.5kg pouches, 10kg packs, and pallets; both varieties are free of dairy, palm oil, caffeine, and theobromine. Since the products are made using plant-based fermentation techniques, they also do not contribute to the ethical issues (such as deforestation, child labor, and slavery) …

Organisations and brands:

WNWN Food Labs

Vegan Women Summit pathfinder pitch competition

Fairs & Events

Fei Luo of Liven Proteins Corp. Wins VWS Pathfinder Pitch Competition

November 15, 2023

Vegan Women Summit’s Pathfinder Virtual Pitch Competition has come to a close with the announcement of Fei Luo of Liven Proteins Corp. as this year’s winner, securing a spot to speak at the 2024 Vegan Women Summit (VWS). Established to provide key investment in early-stage plant-based women founders, VWS Pathfinder enlisted an expert panel featuring industry investors such as Caroline Cormier of Upfield, Beatriz Franco of Vita Vera Ventures, and Mariliis Holm of Sustainable Food Ventures to judge the competition and offer the opportunity for one female founder to showcase their expertise and products at the VWS in NYC next year. Toronto-based Liven Proteins Corp uses precision fermentation to produce animal-free proteins from upcycled agriculture and food byproducts to enhance the taste and texture of …

Organisations and brands:

Liven Proteins

Vegan Women Summit

A close shot of woman hands splitting in two a peanut chocolate bar

Market & Trends

Vegan Chocolate Market to Be Worth $2Bn by 2032, Growing at 13.1% CAGR

November 14, 2023

According to a report by Allied Market Research, significant growth is expected for the vegan chocolate market over the coming decade, with the market value expected to rise from $585.8 million in 2022 to $2 billion in 2032 — a CAGR of 13.1%. Demand will be driven by an increased focus on sustainable and animal-friendly options, along with the perception of plant-based products as a healthier choice. However, the market could be restrained by a lack of production capacity, along with the difficulty of sourcing ingredients at a reasonable cost. Additionally, plant-based chocolate typically requires significant R&D due to the challenge of replicating the taste and texture of dairy-based products, and distribution is more limited than for conventional chocolate. To counter these challenges, the report …

Organisations and brands:

Allied Market Research

Company News

Hain Celestial, Owner of Yves Veggie Cuisine & Linda McCartney’s, Reports Increased Sales and Market Share in Plant-Based Category

November 9, 2023

Global food and personal care company Hain Celestial recently disclosed its financial performance for the previous fiscal quarter and outlined first-quarter expectations for 2024, with a notable focus on the positive outcomes within its meat-free category, demonstrating increased sales and market share. While based in the US, Hain Celestial has a global presence, marketing and selling products in over 75 countries. The company focuses on natural and organic offerings, including plant-based products under well-known brands like Yves Veggie Cuisine, founded by Yves Potvin also of Konscious Foods; Earth’s Best and Imagine Foods in North America; Joya and Lima in Europe; and Linda McCartney’s in the UK. Despite a decrease in net sales, attributed primarily to challenges in the baby and kids categories due to industry-wide …

Organisations and brands:

World Vegan Month Special: Top Ten Inspiring Interviews with Industry Experts

November 9, 2023

To celebrate World Vegan Month, we are sharing the ten most popular vegconomist interviews from so far this year. Interviews are not only a powerful tool to collect information but also an excellent way to acknowledge the experience and perspective of the most inspiring alt protein experts. Take advantage of this opportunity to catch up if you missed any of the following popular interviews with vegan businesses from Germany, France, California, South Korea, Israel, and the UK. In descending order of popularity, here are the ten most clicked Q&As from 2023 so far. 1. Klaus Schmaeing – Burger King Germany By far the most popular vegconomist Q&A of 2023 came from Klaus Schmaeing of the famous burger chain, who revealed in August that “one in …

Sustainability / Environment

Prince William’s Earthshot Prize to Promote Plant-Based Solutions Following GenV Campaign

November 9, 2023

Following a high-profile campaign by GenV, the Earthshot Prize — the environmental awards launched by Prince William — has pledged to do more to promote plant-based solutions to the climate crisis. The Earthshot Prize aims to spotlight innovative solutions with the potential to repair and regenerate the planet. There are five categories —- Protect and Restore Nature, Clean Our Air, Revive Our Oceans, Build a Waste-Free World, and Fix Our Climate. The winners of each category receive a £1 million prize. GenV has been calling for the Earthshot Prize to introduce a sixth category, Advance a Plant-Based Food System, to recognize organizations working in this area. The campaign has been backed by celebrities such as Sharon Osbourne, Olivia Colman, Emma Thompson, Alicia Silverstone, Mark Rylance, …

Organisations and brands:

Earthshot Prize

Generation Vegan (GenV)

Company News

Nelson-Jameson Announces Strategic Partnerships to Meet Plant-Based Development Goals

November 8, 2023

In a move to adapt to the evolving landscape of consumer preferences and growing demands for plant-based products, food processing distributor Nelson-Jameson has announced two strategic partnerships with Vaess and Lallemand Specialty Cultures (LSC). These collaborations aim to provide innovative solutions to the food industry, catering to the increasing diversity of customer portfolios. Representing over 850 vendors and distributing over 55,000 products, Nelson-Jameson has been a reliable support system for food and beverage processors for 75 years. The company has consistently adapted based on changing manufacturing practices, distribution channels, and consumer trends. This has encouraged it to seek partnerships with experts in the plant-based food industry, including the newly formed collaborations with Vaess and LSC. Vaess Vaess is a Dutch food engineering company specializing in …

Organisations and brands:

Lallemand

Vaess

A picture of a forest taken from above, displaying in white CO2

Agriculture / Agribusiness

GHG Emissions of Meat and Dairy Giants Increase Over 3% Yearly, Shows FAIRR Protein Index

November 7, 2023November 7, 2023

As global leaders prepare for COP28 in Dubai and with FAO revealing the “true cost of food,” data from the Coller FAIRR Protein Producer Index shows that disclosed emissions from 20 of the largest meat and dairy companies are still rising yearly. Specifically, figures show a 3.28% rise in the emissions of suppliers to household names, including McDonald’s and Walmart, and firms such as Hormel Foods (US) and New Hope Liuhe (China). On the other hand, the data shows that Tyson Foods and Danone reported a decrease in their disclosed emissions this year; however, the progress made by these companies has been counteracted by the sector’s total emissions, says FAIRR. “The failure of leading meat and dairy companies to reduce emissions underlines the urgent need for more policy …

Organisations and brands:

FAIRR

herd of cows eating hay in cowshed on dairy farm

Sustainability / Environment

FAO State of Food and Agriculture Report Reveals the “True Cost of Food”

November 6, 2023

The Food and Agriculture Organization of the United Nations (FAO) has published its annual State of Food and Agriculture report. For the first time ever, this year’s report has a strong focus on the true economic costs of the current food system. According to the report, agrifood systems have significant hidden costs, adding up to at least $10 trillion per year. This is equivalent to almost 10% of global GDP. Health costs Over 70% of this figure is linked to health costs caused by poor diets, specifically those high in fat, sugar, and processed foods. These diets lead to obesity and chronic diseases, causing productivity losses; this is most prevalent in upper-middle and high-income countries. In lower-income countries, there are significant social costs from poverty …

Organisations and brands:

Food and Agriculture Organization of the United Nations (FAO)

The vegconomist-newsletterinformation for decision-makers

The vegconomist-newsletter
information for decision-makers