a plate with a steak takes center stage, representing the connection between meat consumption and environmental degradation Generative AI

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Studies & Numbers

Groundbreaking Harvard Study Outlines Clear Path to Reducing Global Livestock Sector’s Emissions by 61%

In a recent collaborative research effort led by scientists from Harvard University, New York University, Leiden University, and Oregon State University, a report has been published, presenting a clear path for reducing greenhouse gas (GHG) emissions from the global livestock sector. The report, which claims to be the first in its field, delineates a trajectory aligning with the Paris Agreement’s climate goals, stipulating a 61% decrease in emissions by 2036. Spearheaded by Dr. Helen Harwatt, a food and climate policy fellow at Harvard Law School’s Brooks McCormick Jr. Animal Law & Policy Program, the research highlights the critical role of the livestock sector in climate change mitigation efforts. “The research findings provide much-needed clarity on a key question – what role should the livestock play …

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Honestly Tasty cheese board

Honestly Tasty, image courtesy of PBWE

Market & Trends

Vegan Cheese Market to Be Worth $4.8Bn by 2028 as Consumer Values “Reshape the Landscape”

A report by ResearchandMarkets has anticipated that the global vegan cheese market will grow with a CAGR of 12.2% to be worth $4.8 billion by 2028 — up from $2.4 billion in 2022. Growth will largely be driven by an increasing consumer preference for plant-based diets, as awareness of the health and environmental issues associated with dairy products increases. Continued innovation, leading to improved and more diverse product ranges, is also boosting market growth, along with the increased availability of vegan cheeses at mainstream retailers and online stores. By type, mozzarella alternatives have the largest market share due to their widespread use in dishes such as pizza and pasta. By ingredient, cashew-based products take the lead. Supermarkets and hypermarkets are the leading distribution channel for …

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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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A range of different legumes

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Market & Trends

Plant-Based Protein Products Market to See Rapid Growth, With Particular Success for Pea Protein

A new report by USD Analytics has estimated that the plant-based protein products market will register a CAGR of 8.1% over the forecast period 2024-2030. The report considers the growth of meat alternatives as well as tofu, tempeh, legumes, pulses, nuts, seeds, and protein-rich grains. The key market drivers are health and wellness trends, the growth of vegetarianism and veganism, and environmental concerns. Creative marketing strategies by plant-based companies, promoting their products as healthier, more ethical, and more sustainable than animal foods, will also boost growth. As demand increases, companies are increasingly innovating and diversifying their plant-based product lines to meet consumer preferences. Meanwhile, manufacturers are investing in R&D to improve the properties of meat and dairy alternatives, working to close the sensory gap. For …

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Market & Trends

Vegan Foie Gras Market to Grow With 5.8% CAGR as Consumers Demand Ethical Alternatives

A report by FACT.MR has found that the vegan foie gras market will grow with a CAGR of 5.8% over the forecast period 2024-2034. The production of conventional foie gras has a high environmental impact and involves force-feeding ducks and geese, a process often considered unethical. This has led some areas, such as California, to ban animal-derived foie gras. Consequently, the market for vegan alternatives is growing, and companies are increasingly working to cater to this demand. One example is California-based The Better Meat Co, which has developed mycelium-based foie gras that has proven popular at upscale restaurants. Another Californian company, Prime Roots, has taken a similar approach with its foie gras made from koji fungus. In Europe, Nestlé’s plant-based Garden Gourmet brand relaunched its …

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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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Earth Pass

© Earth Pass

Company News

Introducing Earth Pass: A Digital Platform Bridging the Gap Between Eco-Conscious Consumers and Vegan Businesses

In a recent development within the sustainable consumer goods sector, Earth Pass has launched a digital platform dedicated to connecting consumers with plant-based and environmentally conscious brands. Established by Noah Hyams, the founder of VEGPRENEUR, and Cara Scovazzo, the founder of Mod.Eats plant-based consulting, this platform offers a text-based service that delivers weekly discounts on products from 100% plant-based brands, providing an avenue for vegan startups to increase awareness and make their products more accessible.  Among the brands currently featured on Earth Pass are Moku Foods, Petaluma, and All Y’alls Foods. The platform offers discounts ranging from free products to 50% off in various categories, including food, fashion, wellness, and beauty, and is planning to expand its offerings by introducing in-store incentives and subscription services …

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Freedom Food Alliance

© Freedom Food Alliance

Studies & Numbers

The Freedom Food Alliance Publishes In-Depth Report Exposing Misinformation in the Global Food Industry

A recent publication by The Freedom Food Alliance, titled “Harvesting Denial, Distractions, & Deception: Revealing Animal Agriculture’s Disinformation Strategies and Exploring Solutions,” uncovers the extensive disinformation campaigns that impact our global food systems. This in-depth analysis demonstrates how such campaigns influence public opinion and policy, detrimentally affecting efforts towards sustainability and addressing climate change. The Freedom Food Alliance is a consumer advocacy organization founded by Robbie Lockie, co-founder of Plant Based News. The organization aims to increase transparency and accountability in the food industry by providing consumers with accurate, science-backed information while exposing misinformation. The report, which is the culmination of a year of extensive research, reveals the tactics employed by the animal agriculture industry, including the reported manipulation of social media through artificial intelligence …

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Beyond Burger

© Beyond Meat

Company News

Beyond Meat’s Q4 2023 Earnings Exceed Analyst Estimates, Prompting Stock Surge

Plant-based meat industry leader Beyond Meat has disclosed its financial results for the fourth quarter and full year ending December 31, 2023, triggering a surge in its stock value. Beyond Meat’s Q4 2023 net revenues were reported at $73.7 million, reflecting a 7.8% decrease compared to the previous year. Despite this decline, the figures exceeded the average analyst estimate of $66.8 million, as compiled by Bloomberg, propelling the company’s stock to a notable upswing. The gross profit for Q4 2023 saw a loss of $83.9 million, mainly due to non-cash charges related to a Global Operations Review report in November, and changes in accounting estimates. The net loss for Q4 2023 amounted to $155.1 million, compared to $66.9 million in the corresponding period last year. …

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New Culture block of grating cheese on chopping board

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Fermentation

What is Precision Fermentation? Precision Fermentation Alliance and Food Fermentation Europe Reveal Expanded Definition 

Trade organizations the Precision Fermentation Alliance (PFA) and Food Fermentation Europe (FFE) have revealed a new expanded definition of precision fermentation (PF) to provide clarity on its unique characteristics, its differences from other fermentation-based technologies, and its applications. With biomass fermentation, traditional fermentation, and other technologies like molecular farming and plant cell culture emerging to make novel ingredients for food, the collaboration aims to help stakeholders, regulators, and consumers understand the basics of PF technology. Recently, precision fermentation has been in the spotlight, with various companies announcing the launch of animal-free dairy proteins, human milk fat analogs, and proteins for eggs. However, before its emergence for alt proteins, the technology has been safely used in food and medicine for over three decades to make insulin, rennet …

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Supermarket shelves with alt milk courtesy ProVeg

Image courtesy ProVeg

Market & Trends

Plant-Based Milk Market to Be Worth $51.87Bn by 2032, Dominated by North America

According to a report by The Brainy Insights, the global plant-based milk market will be worth $51.87 billion by 2032, up from $20 billion in 2022. Key drivers will include the growing popularity of vegan diets, high rates of lactose intolerance, and sustainability concerns associated with dairy production. North America currently dominates the market, with a 38% share; it is expected to retain the largest market share over the forecast period. The promotion of plant-based diets on social media, along with health concerns and high rates of dairy allergies, will help to boost sales in the region. Furthermore, there is a huge range of milk alternatives available in North America, catering to a variety of tastes. The products are widely available in grocery stores, making …

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KLIMON Cherry Bomb Ice Cream

©KLIMON

Market & Trends

Vegan Ice Cream Market to Grow With 12.8% CAGR as Consumers Adopt More Ethical Values

A new report by USD Analytics has predicted that the vegan ice cream market will grow with a CAGR of 12.8% through to 2032. The market will be driven by the increased adoption of plant-based lifestyles, along with a shift in consumer values towards more ethical and sustainable products. Furthermore, many consumers now perceive vegan ice cream as healthier than dairy options, and growing awareness of lactose intolerance is also boosting sales. Markets across the Asia Pacific, Europe, and the Americas are all expected to see significant growth. To capitalize on this market growth, the report suggests that manufacturers should offer a diverse range of flavors and textures, using ingredients such as nut butters, coconut milk, and fruit purees. This will help vegan ice creams …

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About vegconomist

Introducing Cultivated X: The B2B News Magazine About Cellular Agriculture

vegconom GmbH – publisher of leading business magazine for the plant-based market, vegconomist – announces its latest online publication with the launch of new B2B news platform, Cultivated X.  Cultivated X is a new B2B magazine focused on cellular agriculture, covering global news and developments in the cell-cultured space, encompassing foods and beverages; materials; policies, laws and regulations; technologies; companies, startups and people; and more. The target readership of the English-language trade magazine will be decision-makers with a vested interest in being informed, quickly and comprehensively, about the background and progress of the rapidly developing market for the cellular production of ingredients and products traditionally produced with the use of animals. According to leading experts, these emerging production methods will disrupt factory farming within the …

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Veganuary participants

© Veganuary

Charity & Campaigns

Veganuary 2024 Supports Over 1.8 Million Participants Worldwide to Try Veganism

With Veganuary 2024 having recently come to a close, the organization has revealed that over 1.8 million people received its support and guidance to try veganism, in the form of emails, videos, social media posts, and podcasts. Many also purchased Veganuary products, such as the charity’s cookbook and Vegan Kit card deck. Veganuary has calculated that the actual number of participants is likely to be even higher than the figures indicate, as many people take part without officially signing up. To gain an estimate of the true number, the organization has commissioned YouGov surveys in its core campaign countries. The results suggest that the total number of participants could be as high as 25 million. Awareness of Veganuary also continues to grow, with 75% of …

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Daphna Nissenbaum headshot

Daphna Nissenbaum © TIPA

Opinion

Op Ed: Daphna Nissenbaum, CEO of TIPA, on Sustainable Packaging During Veganuary

Daphna Nissenbaum is the CEO of global compostable packaging developer and manufacturer TIPA. She established TIPA in 2010 when she recognised that there was an urgent need to revolutionise packaging systems and reduce plastic pollution around the world. A proud female entrepreneur, Daphne’s leadership has resulted in the female-led business raising an impressive $70 million in its latest funding round. Many vegan brands frequently depend on plastic packaging to maintain the freshness of plant-based offerings. Nevertheless, Daphna emphasises the importance of embracing eco-friendly packaging solutions as a critical step in adopting a comprehensive approach to Veganuary. In this opinion piece, Daphne speaks to the need for consumers to demand that brands use environmentally friendly packaging to ensure veganism does not contribute to the plastic problem. …

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Phytolon

© Phytolon

Fermentation

Ginkgo Bioworks and Phytolon Partnership Unlocks Full Yellow-to-Purple Spectrum in Natural Food Colors

Ginkgo Bioworks and Phytolon have announced the successful completion of the first development milestone in their partnership, unlocking the full color palette of the yellow-to-purple spectrum accessible for Phytolon’s natural food colors. Phytolon’s natural betalain pigments, derived from foods like beets and cactus fruit, present a safe and sustainable alternative to synthetic dyes. With heightened scrutiny and bans on synthetic dyes, this new innovation aims to address growing regulatory concerns and consumer demand for nature-derived products. After being founded in 2018, Phytolon secured $4.1 million in 2020 to bring its fermented food colors to market, focusing on product development and refining its fermentation technology. The company has been actively seeking partnerships ever since to enhance its technology and expand its market reach. The partnership with …

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Planteneers fried sausage on fork

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Market & Trends

Plant-Based Sausage Market to Record Huge 26.5% CAGR as Products Become “Indistinguishable” From Meat

According to a report by Future Market Insights, the plant-based sausage market is set to increase in value from $1,228.1 million in 2023 to $12,936.9 million by 2033. This represents a huge CAGR of 26.5%. A key driver will be the improved taste and texture of plant-based sausages, which the report says makes them increasingly indistinguishable from meat. Furthermore, many consumers view meat-free sausages as a healthier option, as they are cholesterol-free and typically lower in saturated fat than conventional sausages. Increased concern about animal welfare and the environment is another market driver. Finally, plant-based sausages are seen as a convenient option, as they can be cooked quickly and easily. All these drivers are expected to continue over the forecast period. Restraining factors However, several …

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Impossible Foods

© Impossible Foods

Company News

Impossible Foods Announces Appointments of 3 Female Executives Including New CFO

Impossible Foods has announced the addition of three seasoned female executives to its leadership team. The company’s latest strategic hires include Elaine Paik as Chief Financial Officer, Emma Hutchens as Chief People Officer, and Alexis Regan as Senior Vice President of Sales. Elaine Paik, a veteran finance executive, will oversee various facets of the company’s finance organization, including financial planning and analysis, investor relations, controllership, tax, treasury, and M&A. Paik has a proven track record in the consumer products industry, having spent 25 years at the Colgate-Palmolive Company and serving as Global Treasurer. Emma Hutchens, an experienced HR leader, is set to join Impossible on February 5 as the Chief People Officer, overseeing all aspects of people operations, including talent acquisition, diversity, equity and inclusion, …

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IFF, Unilever and WUR address flavor challenges associated with alt meats

© IFF

Ingredients

Bridging the Flavor Gap: 7 Solutions to Enhance the Taste of Plant-Based Meat for Maximum Consumer Satisfaction

Today, we are looking into the companies and latest research trying to bridge the flavor gap between plant-based and animal meat with different solutions, including fermented onions, yeasts, chlorella, fermented ingredients, and heme proteins. Flavor is a complex perception that combines taste (sweet, sour, salty, bitter, and umami) with other sensory inputs, particularly smell. Taste and smell interplay to create the overall flavor experience. However, other factors, such as texture and temperature, can influence flavor. Companies often say, “to enhance the taste, texture, and cooking experience of plant-based meat.” As many studies highlight flavor and taste as the drivers behind plant-based meat purchasing decisions, let’s look at the innovations to make these alternatives more appealing to mainstream consumers in order to accelerate the transition to …

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Investors discuss benchmarks for funding alt proteins.

Alex Shandrovsky. Image: LinkedIn

Investments & Finance

Guest Post: Investors Discuss Benchmarks for Funding Alt Proteins in 2024

Alex Shandrovksy is a strategic advisor to numerous global food tech accelerators and companies, including leaders in alternative proteins and cellular agriculture. His focus is on investor relations and post-raise scale for agrifood tech companies. In this article, he interviews investors about benchmarks for funding alt proteins in 2024. Spurred by a record-high Beyond Meat valuation of $12 billion and low interest rates, the plant-based industry raised $5 billion in 2021. Fast forward two years, and we are in a very different reality. Beyond Meat’s stock has dropped 90%+ of value and currently trades at $500 million. Interest rates went from a historical low of .25% to a 20-year high of 5.5%, further limiting access to investment funding. This reality means that plant-based companies that …

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