Steak News - vegconomist: the vegan business magazine

Vegan Steak Market to Be Worth Over $1Bn by 2032, Growing With 6.2% CAGR

October 20, 2023

According to a report by Polaris Market Research, the global vegan steak market is set to grow with a CAGR of 6.2% through to 2032, reaching a value of about $1.02 billion — up from $562.48 million in 2022. North America will have the largest market share throughout the forecast period, followed by Europe and the Asia Pacific. Growth will be driven by increasing interest in plant-based diets, along with improved technology for producing meat alternatives and the increased availability of vegan steak in restaurants. Health concerns will also be a key driver of the market, with red meat increasingly associated with chronic diseases such as colon cancer and cardiovascular disease. Earlier this year, Beyond Meat’s bestselling plant-based steak became the first meat alternative to …

Organisations and brands:

Polaris Market Research

Meat- and Fish Alternatives

Beyond Steak Arrives in the UK, Wins Gold Innovation Award at Casual Dining 2023

October 2, 2023

Beyond Meat‘s plant-based steak alternative, Beyond Steak, has made its UK debut at the annual Casual Dining Show. At the event, the product won gold in the esteemed Casual Dining Innovation Challenge 2023. Judges described the plant-based steak pieces as a “sustainable gamechanger”, praising their high protein content and low levels of saturated fat. It comes after the steak alternative became the first plant-based meat to be certified by the American Heart Association in May, following its US launch in October 2022. Beyond Steak was also named one of the best inventions of 2022 by TIME magazine, with the publication praising it as having the “fibrous texture” of steak while being “definitely healthier”. Additionally, the product received a prestigious FABI Award from the US National …

Organisations and brands:

Beyond Meat

©Willow Vegan Bistro

Gastronomy & Food Service

NYC’s Willow Bistro Debuts Cutting-Edge Dishes with Chunk Foods Steak and Yo Egg

July 20, 2023July 19, 2023

Nestled in the heart of New York City’s Chelsea neighborhood, Willow Vegan Bistro is quietly disrupting bistro fare with its adventurous, thrilling take on contemporary plant-based cuisine. Recently, the eatery debuted new dishes featuring Chunk Foods’ groundbreaking plant-based steak and Yo Egg’s chicken-free eggs. Elevated bistro dining Willow describes itself as a “cozy vegan bistro that offers an innovative twist on classic American food” and the menu overflows with vibrant recreations of popular bistro dishes, from sandwiches and burgers to soups and mac ‘n cheese. Highlights include mini lobster rolls made with hearts of palm, chick’n francese, oyster mushroom calamari, and a B.A.L.T. with vegan bacon. But what truly sets Willow apart is its use of the latest alt-protein innovations, including Chunk Foods’ steak and Yo …

Organisations and brands:

chunk foods

Willow NYC

YO-Egg

Beyond Meat Expands Best-Selling Beyond Steak to Thousands of New Retail Locations

July 11, 2023

Beyond Meat (NASDAQ: BYND) announces it is expanding retail availability for its award-winning Beyond Steak product, which can now be found at 14,000 retail locations across the US. According to Beyond Meat, its steak ranks as the top-selling new plant-based meat in retail and recently launched at grocery chains such as Whole Foods Market, Publix, Wegmans, Meijer and Stater Bros. Markets. The company also reveals recent data showed that 2 out of 3 households that tried Beyond Steak repurchased the product, which supports other positive feedback the product has received since its US launch last year. In June, Beyond Steak was named “Best Plant-Based Beef” by PEOPLE Food Awards 2023 for having “the texture, chew and flavor” of real steak. The product also received a FABI …

Organisations and brands:

Beyond Meat

Investments & Acquisitions

Adamo Foods Raises £1.5M for “Groundbreaking” Mycelium Steaks

June 20, 2023

British food tech startup Adamo Foods has secured £1.5 million in funding to bring its whole-cut mycelium steaks to market. The sum consists of pre-seed funding from SFC Capital and two major grants from the government agency Innovate UK. The grants were received following Adamo’s participation in the ‘Better Food for All’ and ‘Novel Low Emission Food Production Systems’ competitions. Adamo will use the capital to further develop and scale its products, including by biofortifying the nutrients in mycelium to replicate the nutritional benefits of beef. The company will also develop processes to increase production to a pilot scale as it prepares to launch. The news comes after Adamo showcased its technology at the International Cellular Agriculture conference in Helsinki, which took place from June …

Organisations and brands:

Adamo Foods

©Land Lovers

Meat- and Fish Alternatives

Meet Land Lovers: A Startup Looking to Disrupt the US Meat Market With the “Most Realistic Plant-Based Steak”

June 15, 2023June 15, 2023

With plant-based burgers largely conquered, the alt-meat industry is increasingly turning its focus to the more difficult but highly lucrative realm of whole muscle cuts, which make up the majority of meat sales in the US and beyond. One of the newest and most exciting entries to this category is Land Lovers, a Chicago-based startup determined to revolutionize the US meat market with “extraordinary” whole cuts of plant-based steak. Formerly known as ALCHEMEAT, Land Lovers is led by chef and food industry veteran Dr. Huan Xia. Using patented technology, the company produces whole cuts of plant-based meat that look and taste exactly like premium beef. Its versatile product, made from wheat and soy protein, is said to offer a realistic alternative to beef in virtually …

Organisations and brands:

Alchemeat

Meat- and Fish Alternatives

Made With Plants Launches Seitan-Based Steak at Woolworths Stores Across Australia

June 13, 2023

Australia’s Made With Plants has launched a plant-based sirloin-style steak at Woolworths stores across the country. The steak is made with seitan (wheat gluten), and is said to have a highly realistic texture. The production process is inspired by centuries-old traditions, with specialised flour used to create a dough that is then seasoned and cooked. “We believe that everyone should have the opportunity to indulge in the rich, comforting taste of steak. Made With Plants Meat Free Steak offers the best of both worlds, providing a guilt-free, mouth-watering alternative for meat lovers,” said Made With Plants co-founder Cale Drouin. “Unbelievable flavour” Made With Plants has been available at Woolworths since 2019, offering a selection of meat and dairy alternatives. In 2020, the brand announced an …

Organisations and brands:

Made with Plants

Woolworths

Ellen Kim, image courtesy of Nasoya

Interviews

Nasoya: “We Really Cracked the Code to Create a Plant-Based Steak That Tastes Great”

May 18, 2023

We have been following the launches and developments of Nasoya since its parent company Pulmuone entered the plant-based meat category in 2021. The South Korean leader launched the Plantspired line under the Nasoya brand the following year, which has seen huge success (with sales up by an impressive 800% in October of last year) and multiple flavor extensions for the notable Plantspired steak which was featured in our recent roundup of popular plant-based steaks around the world. Nasoya is certainly one to watch, in our humble opinion. Marketing Director Ellen Kim kindly took the time to tell us more about the brand and its plans for the future. Can you please introduce Nasoya? Nasoya is the nation’s leading brand of tofu and Asian-inspired plant-based foods, …

Organisations and brands:

©Beyond Meat

Beyond Steak Becomes “First” Plant-Based Meat Certified by the American Heart Association

May 9, 2023May 9, 2023

Beyond Meat (Nasdaq: BYND) announces Beyond Steak has become the first plant-based meat and first steak to be certified by the American Heart Association’s Heart-Check Program. The product will now carry the organization’s widely recognized Heart-Check seal, which helps consumers identify healthier foods when reading nutrition labels. According to Beyond, its steak joins a select group of food products that meet the Association’s exacting nutritional standards for a heart-healthy food – including being low in saturated fats, trans fats, cholesterol and sodium, and having over 10% of the Daily Value of essential nutrients. Described as a better-for-you and portionable product, each serving of Beyond Steak offers 21 grams of protein, 170 calories and 1 gram of saturated fat, with no cholesterol, GMOs or added hormones …

Organisations and brands:

American Heart Association

Beyond Meat

Meat- and Fish Alternatives

BILLA’s Plant-Forward Strategy Continues With Exclusive Juicy Marbles Launch

May 2, 2023

Juicy Marbles launches its innovative plant-based fillet steak at BILLA PLUS and BILLA PFLANZILLA. The Austrian supermarket chain BILLA is pursuing a comprehensive plant-based strategy with the aim of responding optimally to the needs of customers who are increasingly looking for plant-based products. The motives for this are diverse and range from health aspects to animal welfare to climate-friendly nutrition, among others. BILLA supports them in this with a selection of more than 4,000 purely plant-based products. New to the range nationwide is now the plant-based fillet steak from the Slovenian startup Juicy Marbles. It is now available exclusively in all BILLA PLUS stores and at the plant-based supermarket that opened last year, BILLA PFLANZILLA. Verena Wiederkehr, BILLA Head of Plant-Based Business Development, says: “Our …

Organisations and brands:

BILLA

Juicy Marbles

©Chunk Foods/ The Butcher's Daughter

Fundraising

Chunk Foods Raises $15M in “Biggest Ever” Israeli Seed Round to Begin Scaling Whole-Cut Plant-Based Steak

April 28, 2023April 27, 2023

Israeli startup Chunk Foods reveals it raised $15M in seed funding in November, in what the startup calls the “biggest ever” seed funding round for an Israeli plant-based company. Led by Fall Line Capital, The MIT E14 fund, and Robert Downey Jr. ‘s FootPrint Coalition, the raise will be used to construct one of the largest plant-based whole cuts factories in the world, which is set to be completed in Summer 2023. According to Chunk, the new state-of-the-art facility will be capable of producing millions of plant-based steaks every year. Made with minimally processed ingredients, Chunk says its steak offers the same meaty bite, texture and umami flavors of conventional beef. Using fermentation technology, the company says it is able to produce whole-cut products with …

Organisations and brands:

chunk foods

©Beyond Meat

Company News

Beyond Meat’s Beyond Steak Wins Prestigious 2023 FABI Innovation Award

March 27, 2023

Beyond Meat (NASDAQ: BYND) announces its Beyond Steak product has been awarded the coveted 2023 FABI Award (Food and Beverage Innovation) from the National Restaurant Association. The award recognizes plant-based Beyond Steak for “breaking new ground in creativity and taste”, and marks Beyond Meat’s seventh consecutive FABI award. According to the National Restaurant Association, the FABI Awards honor products that are revolutionizing food and beverage with innovative flavors, ingredients, creativity, and profit potential. Beyond Meat says its Beyond Steak seared tips provide an authentically juicy, meaty taste and flavor profile that is ideal for sandwiches, bowls, salads, stir fries, tacos and more. FABI praised the product, which first launched in the US in Fall 2022, for its “tender” bite and perfectly “caramelized crust.” Made with …

Organisations and brands:

Beyond Meat

FABI Awards

National Restaurant Association

New Gochujang Steak © Nasoya

Meat- and Fish Alternatives

Nasoya Introduces New Flavors to Award-Winning Plantspired Steak Range in USA

March 15, 2023March 2, 2023

Nasoya, a brand under Pulmuone Foods USA, a wholly-owned subsidiary of Pulmuone South Korea, is known as the maker of the country’s leading brand of tofu, with a nearly 70% market share in the US. Ahead of Expo West, the company announces two flavor extensions to its Plantspired range: Plantspired Plant-based Steak is now available in Korean Gochujang flavor, while Plantspired Toss’ables adds a new Sweet Chili variety. Steady success in the category Following the hire of ex-vice president of Johnson & Johnson Kilsu Cho as General Manager in 2019, Pulmuone first entered the plant-based meat space with the Plantspired line, debuting with 20 products for the global market. Nasoya first introduced its award-winning Plantspired Korean BBQ Steak to retailers across the US last March. …

Organisations and brands:

Nasoya

Pulmuone

Products & Launches

Waitrose Becomes First UK Supermarket to List Juicy Marbles, Stocks the Filet Mignon in Butcher Section

February 10, 2023February 10, 2023

Whole cut vegan steak producer Juicy Marbles launches at Waitrose, marking the first UK supermarket to sell the 100% plant-based filet mignon. The brand’s famous marbled vegan steaks — placed alongside conventional animal meat in the butcher section — are part of the supermarket’s Valentine’s Day Meal Deal, offering two Juicy Marbles steaks, a starter, a dessert, and a bottle of fine wine for £20. Waitrose reports that it is listing the plant-based filets in 217 Waitrose stores from February 8th to 14th while stocks last. Luka Sinček, Juicy Marbles’ co-founder, said: “Mr. Marbles will be pleased to see the introduction of Juicy Marbles’ steaks in Waitrose, one of the UK’s most respected supermarkets. We are also big fans of romance here in Marbles’ Surreal …

Organisations and brands:

Juicy Marbles

Meat- and Fish Alternatives

6 Innovators Disrupting Steak With Plants in Europe

February 8, 2023February 8, 2023

Following our recent article on the steak alternatives available in North America, we take a look at the innovative brands disrupting steak in Europe. Not so long ago, most meat alternatives were limited to minced products such as sausages and burgers. But with technology progressing at an astonishing rate, consumers can now enjoy a range of whole-cut products, making it easier than ever to avoid meat. Here we give six examples of steak made from plants, currently available on the European market, and one more that is soon to arrive. 1. Vivera In 2018, Dutch brand Vivera became one of the first producers worldwide to launch plant-based steak. The product made its debut at UK supermarket chain Tesco, where 40,000 were sold in a single …

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The 9 Most Incredible Brands Disrupting Steak with Plants (North America)

March 31, 2023February 4, 2023

While plant-based burgers, sausages and meatballs have long dominated the alt-meat landscape, creating realistic steak from plants has always represented the highest, if seemingly unattainable goal, for many brands. But thanks to fearless and relentless innovation, a host of shockingly meaty and juicy plant-based steaks have arrived on the US and Canadian market, and are rapidly coming to the fore. Here, vegconomist takes a look at the most noteworthy names bringing animal-free steak to mainstream consumers. 1. Beyond Meat While not a fully structured filet, Beyond’s “revolutionary” plant-based steak tips marked a major milestone for the company, which previously only offered ground-textured products like burgers and sausages. According to CEO Ethan Brown, Beyond Steak took five years of extensive R&D to develop. The product can …

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Meat- and Fish Alternatives

Thai Startup Kindness Exports to 25+ Countries With 4000t Annual Output

January 30, 2023January 30, 2023

Kindness is a plant-based food tech startup based in Thailand, with a fun tagline, “Let’s go Beyond the Impossible,” tipping its hat to its biggest international peers. Kindness offers ready plant-based formulas and product development and plant protein consultancy to brands and manufacturers that “desire to innovate within the vegan protein space.” With 30 years of combined experience in plant-based food production, Kindness claims its R&D team has developed 300-ready formulas using soy, wheat, konjac, and pea protein, which other companies can leverage to expand their current CPG offer or develop innovative products. A non-animal-derived diet Founded by Mike Yang, the Thai startup aims to develop high-quality, plant-based foods at a competitive cost to propel consumers’ adoption of a non-animal-derived diet. With the brand’s plant-based formulas, …

Organisations and brands:

Kindness

Fungi, Mushrooms & Mycelium

Meati Foods Announces Huge ‘Mega Ranch’ Capable of Producing Millions of Pounds of Mycelium

January 26, 2023

Meati, the Colorado producer famous for its whole cuts made from mycelium, announces the opening of its biggest production facility yet, known as the Mega Ranch. The fully integrated operation is expected to cultivate Meati products at an annual rate of tens of millions of pounds by late 2023. At this rate, Meati says its production will match or exceed that of the largest individual animal-based ranches in the US. According to Meati, its massive $150M Series C raise in 2022 helped to finance the Mega Ranch, which is designed to scale the company to an omnichannel, national footprint by the end of 2023. Along with a recent contribution by Rockefeller Capital, Meati says it is well-positioned to become a market leader with $1 billion …

Organisations and brands:

Meati

Mega Ranch

Food & Beverage

Welsh Pub Becomes “World’s First” Vegan Steakhouse

January 5, 2023January 4, 2023

This time last year, The Queen Inn pub in South Wales took the chance of going fully vegan for Veganuary and the success was so incredible that the traditional family pub made the decision to become permanently vegan, much to the surprise of most of its regular clientele. To celebrate a phenomenally successful first year of being a 100% plant-based establishment, and to mark the pub’s second Veganuary; Ryan Edwards, who operates the pub with parents Jane and Gareth, came up with a groundbreaking concept which could very well be the first in the world. A Welsh world’s first? The theme for the month, and one which will continue in future depending on demand, is the World’s First Vegan Steakhouse. Since the Queen Inn was …

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Indonesia’s Green Rebel Launches Dairy and Egg-Free New Range

November 15, 2022

Indonesian food tech startup Green Rebel Foods, known for its alt chicken and beef, has launched Creamy Crew, a dairy and egg-free alternative range. The offer includes two new products, Mayo-Nice and Caesar Dressing. These new additions to the company’s portfolio reflect Green Rebel’s efforts on plant-based food innovation to provide alternatives for flexitarians, vegans, and people suffering from lactose intolerance – around 90% of the Asian population, the company says. Green Rebel’s alt meat portfolio includes whole-cut plant-based steaks, various flavored chicken alternatives, beef chunks and mince, and a mushroom patty. The company expanded into the plant-based cheese category when it launched its Green Rebel’s Cheddar Cheeze for the first time in December 2021. Dairy-free alternatives 100% plant-based, Green Rebel’s Mayo-Nice, Caesar Dressing, and Cheddar-Style Cheeze …

The vegconomist-newsletterinformation for decision-makers

The vegconomist-newsletter
information for decision-makers