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Image by The Protein Brewery
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? Microbial fermentation specialist The Protein Brewery just closed a ?22M series A funding round. Its signature product, Fermotein, is a protein-rich fungi-based ingredient which can be used to make a variety of animal-free food products, ranging from alternative meats to protein bars and drinks.
Why it's important: producing Fermotein uses only a fraction of the resources required for conventional meat production, so this innovative and sustainable product is well-placed to enter the ?30Bn market for alternative proteins.
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? Plant-based chicken startup Daring secured $8M series A funding to finance its growth across the US, including a launch across restaurant chain Just Salad.
Why it's important: the brand's products are less processed and have a cleaner label than some others on the market, which will be important for attraction and retention of a growing consumer base.
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? Israeli food tech Meat-Tech 3D closed a $7M funding round and announced it has filed for IPO in the USA, making it the world's first cell-based company to do so.
Why it's important: it's currently the only public cell-based company, as it's publicly traded on the Tel Aviv Stock Exchange since last year. Hopefully the first of many, as the alternative protein market grows.
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Image by McDonalds & Green Queen Media
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? QSR giant McDonald''s is launching McPlant, its own brand plant-based meat line, developed in collaboration with Beyond Meat. It plans to roll out the McPlant Burger in various regions next year, and hopes that the range will eventually include an entire line-up of plant-based menu items.
Why it's important: McDonald's serves an eye-watering two billion burgers a year (75 every single second!), so this move highlights its strategy to appeal to plant-based and flexitarian consumers and retain market share.
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? For the first time ever, consumers can try cell-based chicken at Tel Aviv restaurant The Chicken, launched by Israeli cultivated meat startup SuperMeat. Plus, customers can see into the factory as they dine, bringing transparency to the production process and satisfying curiosity around this futuristic food trend.
Why it's important: this move is a world first towards making slaughter-free, cell-based meat accessible to everyone, bringing it closer to normalisation and commercialisation.
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? Pizza Hut has become the first US pizza chain to offer plant-based meat toppings to its customers. It has partnered with Beyond Meat to create two new pizzas, and plans to extend its collaboration to the UK.
Why it's important: this is a category first but there's still work to do. The pizzas are topped with dairy cheese, so while vegetarian friendly they are not vegan.
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? Japanese plant-based meat startup Next Meats has released a vegan barbecue beef steak as an alternative protein option for fans of yakiniku, a popular dish typically served with rice, with double the amount of protein and half the fat content of the conventional beef version.
Why it's important: plant-based demand in Japan is at an all-time high, and this is the latest in a series of moves in the industry there to respond to consumer needs.
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Image by NotCo
? NotMilk is making its debut in 500 Whole Foods Markets stores across the US. Made by Chilean food tech NotCo from chicory, cabbage and pea protein alongside other fruits and vegetables, it was designed using the company's proprietary artificial intelligence and machine learning algorithms which help formulate recipes that mimic animal-based foods using only plant ingredients.
Why it's important: currently, nearly one third of consumers who try plant-based milk return to dairy options because of taste, but NotCo's AI innovation could change that.
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? Eat Just is gearing up to launch its plant-based eggs in Europe in 2021, having put its manufacturing, distribution and delivery infrastructure in place.
Why it's important: Europe is a particularly favourable market at the moment due to its expanding flexitarian and plant-based population, so wide-scale accessibility of Just Egg across retailers and B2B should see demand increase even further.
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? The UK's first vegan liquid egg replacement, created by British brand Crackd, will be launching into UK retailers in December. The pea protein-based blend, the No-Egg Egg, is designed to replace a whole egg, so is particularly good for baking.
Why it's important: consumer accessibility to convenient options will accelerate plant-based demand.
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CONSUMER TRENDS & RESEARCH
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? The plant-based sector is on fire right now according to a slew of new research:
- The plant-based beef segment alone on track to be worth $16Bn by 2030, according to new research by Dubai-based firm Future Market Insights, with investment and innovation in this area noted as huge drivers of its success.
- In the US, pandemic-based research data put together by food processing corporation ADM shows that 92% of first-time plant-based meat buyers plan to re-purchase
- In Europe over 20% of consumers now consider themselves to be flexitarian, and the number of vegan consumers has doubled within four years, according to a study by Berlin-based plant-based supermarket chain Veganz.
Why it's important: the shift to plant-based eating has been accelerated by the pandemic, and investment into alternative protein will result in more high-nutritional value products coming to market, and thus attracting and retaining further consumers.
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"I've always sought to discover new ways to develop food tech solutions that increase access, ensure better health, and spur innovation for community growth."
- Riana Lynn, Founder & CEO of Journey Foods
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? Texas-based startup Journey Foods wants to simplify the route to food innovation through artificial intelligence and machine learning, with its software designed to help food businesses develop products which optimise on cost, health and sustainability.
Why it's important: food development can be costly, time-intensive and often subjective, so a data-driven approach brings a whole host of key benefits.
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? Not just plastic-reducing but actually plastic-negative, US vegan meat brand No Evil Foods plans to more than offset its plastic footprint by funding the recovery and recycling of two pounds of plastic waste for every pound it generates through packaging materials.
Why it's important: the first plant-based brand to take this stance, it's responsible production at its best and will hopefully have an impact across the industry as others follow suit.
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? KindEarth.Tech will be hosting an international virtual event, the Kind Technology for Future Food, later this month. Featuring speeches from major alternative protein players (including Green Queen founder and editor-in-chief, Sonalie Figueiras!), alongside a first look at groundbreaking cell-based meat research, it's an event not to be missed.
Why it's important: the event is 'designed to mimic the way our brains come up with innovative ideas', unlike any other virtual conferences, in the hope of accelerating the transformation towards a sustainable food system.
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? We had a chat with butcher's daughter Auriane Borremans, an alternative protein advocate who runs Eatention, a Belgium-based company dedicated to working with food brands to develop new sustainable foods, to find out her thoughts on the plant-based movement.
Why it's important: Auriane's mission has led her to be named one of the '30 most inspiring women under 30' in Belgium, and despite her family's background she is keen to fight for the future of food.
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This month, alternative protein event organiser KindEarth.Tech will be hosting the Kind Technology for Future Food, an international virtual event to discuss the future of food and the latest in the plant-based, cell-based and fermentation protein sectors. Taking place on November 20, the schedule includes exciting talks from food tech founders and experts across the world, pitches from startups and debates to stimulate creative novel ideas to accelerate the transformation towards a sustainable food system.
REGISTER HERE
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SCENE & HEARD
- Global founder community Startup Grind''s Hong Kong chapter is doing an in-depth interview session with our founder Sonalie Figueiras about the alternative protein revolution Nov 18th - sign up here
- Here at Green Queen we love a webinar, and this we''e looking forward to Globescan''s session on Nov 23 about the growing popularity of plant-based products, with insights from a variety of brilliant panelists including the CEOs of Green Queen, Green Monday & Vitasoy
- Interested in cellular agriculture? Then it''s worth checking out this investment report by CellAgri
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STARTUPS LATEST NEWS ASIA REPORT
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The world''s food systems are undergoing a revolution- we''ve got close to 8 billion people to feed and alternative protein is the answer. From cell-based to plant-based to fermented, we need to reform our food production. Our Alt Protein newsletter is here to inspire and inform with a weekly roundup of the top #foodtech headlines you need to know across Asia and beyond including new startups, funding news, industry trends, product launches, event highlights, inspiring interviews and more. We know you''ll love it.
Today''s edition was brought to you by Nicola.
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