Better Bioeconomy Weekly - Jun 19th 2023 🌏
Americans are one step closer to having cultivated meat on their plates
Hey there!
As we kick off a new week, I wanted to drop a friendly reminder: spend time with your loved ones.
Alright, when you are ready, buckle up for another edition as we dive right into this week's newsletter!
BIO BUZZ
🇺🇸 Upside Foods and Eat Just have received USDA label approval for their cultivated meats, bringing them closer to American plates
Eat Just earned USDA label approval for its cell-based chicken last week, following months of productive conversations with the USDA. Upside Foods received USDA label approval for its cell-cultivated chicken on Monday, following its historic FDA approval last November.
Both companies are working towards obtaining a Grant of Inspection (GOI) for their facilities, which is the final hurdle before commercial production can begin.
Consumers may see cultivated meat on menus in the U.S. by the end of 2023, with limited availability initially and a gradual increase as capacity and scale are achieved.
Read full article - Green Queen
🇨🇳 Is the Chinese plant-based meat industry really “faltering” as publications claim?
Plant-based domestic and imported brands are struggling in China's market despite being previously hailed as successful. The initial over-hype and failure to meet taste and texture expectations have posed challenges for the industry.
The Chinese market for alternative proteins is complex and differs from the West. Unlike in the US and Europe, where eco-conscious consumers are willing to compromise on taste or pay a premium for animal-free products, Chinese consumers prioritize taste, price, and health benefits.
Despite the short-term challenges, the alternative protein market in China is still nascent and evolving. Those who recognize the long-term opportunity will be positioned for commercial success and can make a significant social and environmental impact.
Read full article - vegconomist
🧀 Climax Foods debut “world's first” plant-based ingredient that accurately mimics the dairy protein casein
The plant-based casein produced by Climax Foods is free from hormones, antibiotics, and the top eight food allergens, making it a healthier and more sustainable option.
Using AI and machine learning, Climax Foods' "precision formulation" technique enables the cost-effective and scalable production of plant-based casein, significantly reducing water usage by 500 times at the pilot scale.
Climax Foods' approach stands out from other companies attempting to create casein substitutes through precision fermentation, as it does not require genetic modification, making it more accessible to key markets such as the EU.
Read full article - Green Queen
🍨 World’s first gelato made from air - thanks to Solar Foods and Fico restaurant by The Lo & Behold Group.
This marks the first time that food made without photosynthesis and agriculture is accessible to the general public. By using Solein instead of dairy, the gelato offers familiar tastes and textures while removing animals from the equation.
Solein is produced using a bioprocess that feeds microbes carbon dioxide, hydrogen, and oxygen. The result is a food source with 65-70% protein, 5-8% fat, 10-15% dietary fiber, and 3-5% mineral nutrients.
Solein's versatility extends beyond gelato, making it suitable for various sweet and savoury recipes. Solar Foods has formed a strategic alliance with Ajinomoto for product development and marketability studies using Solein.
Read full article - Green Queen
🇵🇭 Philippines-based WTH Foods introduces microalgae-based vegan seafood products
WTH Foods is expanding its product range to include low-sodium, clean-label plant-based seafood products, using microalgae to achieve a soft fish-like texture.
The company has created plant-based tuna and crabcakes that surpass conventional tuna in nutrition, devoid of cholesterol, microplastics, or heavy metals, yet still rich in DHA and Omega-3.
WTH Foods targets the European market, focusing on Central and Southern Europe with high demand for plant-based and clean-label products. For the ASEAN market, they differentiate themselves by incorporating South East Asian flavours and exploring plant protein sources like soy-based tuna.
Read full article - Green Queen
🧪 Extracellular launches affordable and licensing-free cell banks for cultivated meat research
The UK-based CDMO has launched low-cost cell banks for early-stage cultivated meat companies and researchers, offering high-quality primary cells without licensing or commercial restrictions.
The cell banks were developed through a collaboration with Multus, a British biotechnology company, and received InnovateUK funds to advance cultivated meat research.
The newly developed banks are up to 90% cheaper than existing banks, provide information on the cells' provenance, and aim to enable researchers to develop new cell lines, media formulations, processes, and technologies without limitations.
Read full article - vegconomist
🌭 Beyond Meat’s new iteration of Beyond Sausage offers a meatier and juicier experience
Consumer testing has shown a strong preference for the new Beyond Sausage, with consumers praising its overall flavour and texture, making it a promising option for those looking for plant-based alternatives.
The sausage is made with plant-based ingredients like peas and brown rice, offering 16g of protein and 40% less saturated fat than leading pork sausages. It's also free from cholesterol, GMOs, soy, gluten, antibiotics, and hormones.
Beyond Meat's timing is strategic, launching the new sausage in time for the popular Fourth of July grilling holiday when 68% of Americans plan to host a BBQ, catering to the demand for delicious and sustainable plant-based options.
Read full article - vegconomist
BIO BUCKS
🌾 VCs are underinvesting in Latin American agrifood tech historically but that could be changing
Despite LATAM's abundant natural resources and significant food production, including its global leadership in soy, beef, poultry, and commodities like cacao and coffee, the region has historically been underinvested in agrifood tech.
There are positive signs of change, with an increased understanding of LATAM's role in the global food system and the need for innovation to address economic instability, environmental damage, and inequalities in the agrifood system.
LATAM agrifood tech startups raised $1.7 billion in 2022, a 39% drop from a record-breaking 2021. But agrifood tech still accounted for an impressive 21% of all venture capital investment in the region.
Read full article - AgFunder
🇫🇷 Jay&Joy, a French plant-based creamery startup, has raised €2 million to modernize french cheese
With the new funds, Jay&Joy plans to invest in talent, R&D, and production expansion to regain its position as the leader in the plant-based creamery sector, focusing on implementing strict quality control measures.
The company faced a quality crisis in January 2023 due to a recall of its products following cases of listeria, resulting in a change of leadership and a new CEO, César Augier.
Jay&Joy acknowledges the past mistakes and has assembled a qualified quality control team to ensure compliance with health authorities' production standards, addressing the issue of listeria contamination.
Read full article - vegconomist
🇮🇳 India’s Evolved Foods closes seed round with INR 7.30 Crore ($891,000) to address protein deficiency using plant-based meat
Evolved Foods highlights that 80% of Indians do not meet the recommended daily allowance for protein consumption, while others rely on animal foods such as meat and paneer.
The company's signature product, Plant Meat, made from soy, rice, and coconut, seeks to bridge this protein gap and cater to local preferences. The funding will be used to expand its operations and build efficiencies across production and supply chain operations.
Evolved Foods aims to meet the surging consumer demand for plant-based and protein-rich food options, and bring India's range of offerings to a global audience while prioritizing delicious, healthier, and sustainable meals.
Read full article - vegconomist
🥛 The plant-based milk market is expected to grow from $40.25 billion in 2022 to $123.1 billion by 2030, growing at a CAGR of 15%
The demand for plant-based milk is driven by the rising popularity of plant-based beverages, as consumers seek nutritious and flavorful options. These drinks are seen as low in fat and cholesterol, and rich in protein, minerals, and vitamins.
Dairy milk is likely to be replaced by plant-based milk in food service establishments, with popular alternatives such as coconut milk, rice milk, and others being used in various culinary applications.
Despite the growing demand, barriers to market expansion include consumer unfamiliarity with plant-based products and the different flavour profiles compared to cow milk. The high price of plant-based milk and additional taxes in some countries also hinder sales.
Read full article - Business wire
🇬🇧 The UK's national research and innovation funding agency, UKRI, is investing nearly £318m into a plant and microbial research hub
The hub is based in Norwich Research Park, focusing on climate change, sustainable food, and human health.
The project involves the redevelopment of the John Innes Centre and The Sainsbury Laboratory over the next seven years, including new laboratories and improved plant growth facilities to study the effects of climate change.
The funding comes from UKRI's Next Generation Infrastructure program and is part of the country's efforts in computational biology, structural biology, genetics, live cell imaging, and genomics.
Read full article - UKTN
📈 JUST Egg reports a 14% YoY increase in retail and food service in the US
The leading plant-based egg brand has secured major partnerships with retail giants Walmart and Kroger, with 1,000 new Walmart stores and 800 Kroger stores now carrying JUST Egg products.
JUST Egg has also made strides in the food service industry, adding over 1,500 locations, including Barnes & Noble, 7-Eleven Canada, Next Level Burger, Colectivo Coffee, and Proper Food.
The company's plant-based eggs have gained popularity as a cheaper alternative during times of egg shortages and rising prices, with a 3% increase in sales reported in January.
Read full article - vegconomist
SOCIAL FEAST
🙃 Beyond Meat 🤝 Relationship advice
💀 Trust: Without this, it’s game over for sustainable food companies
Transparency is crucial in the sustainable food space as consumer concerns about food origins and production practices can outweigh other attributes like taste or price.
Companies that prioritize transparency have the opportunity to reshape the food system, while those that fail to do so risk being overlooked by skeptical consumers.
Companies should take responsibility for transparency rather than relying solely on regulatory bodies, as consumers expect it directly from the brand and manufacturers, and it is essential for creating a sustainable food system embraced by consumers.
Read full article by Steve Molino - Medium
🤷🏾 The nutrition paradox: Knowing what's right, doing what's wrong
Despite knowing the impact of diet on health, individuals tend to engage in unhealthy eating behaviours, leading to an increase in diseases, deaths, and related costs.
The rise in obesity rates globally poses a significant challenge, with projections suggesting that over half of the world's population will be overweight by 2035, putting strain on economies and healthcare systems.
To address this cognitive dissonance, three proposed solutions include:
1) developing healthier and more delicious food options
2) implementing taxes on junk food (while considering potential impacts on low-income populations)
3) leveraging innovation, such as synthetic biology, to create smarter alternatives to processed foods and incorporate beneficial supplements.
Read full post by Matthieu Vincent - LinkedIn
✨ We need good intentions and good inventions for animal liberation
Despite decades of advocacy and the publication of books like "Animal Liberation," the plight of animals has not significantly improved since the book was first released nearly 50 years ago.
Animals continue to suffer in laboratories and factory farms, with little legal protection for their well-being. The number of animals used in experiments and farmed for food has even increased over time.
Sympathy and rational arguments may not be sufficient to drive significant change. Instead, Paul proposes that technological advancements, such as the development of animal-free meats, could render abusive industries obsolete and lead to a more ethical way of eating.
Read full article by Paul Shapiro - Medium
EAR FOOD
🍼 Disrupting the infant formula category with Helaina
Show: FoodTech Junkies
Guest: Laura Katz, Founder & CEO of Helaina
Helaina is an innovative ingredients platform with a focus on breast milk, aiming to revolutionize the food industry by prioritizing the quality and safety of ingredients.
The founder, Laura, is driven by a commitment to address malnutrition, especially in children in developing countries, through her initiative.
Helaina's vision extends beyond breast milk, as it aims to revolutionize protein-based, healthy ingredients, with the potential to have a profound impact on the lives of those in need.
🐟 Talking AI & food with Google’s Evan Rapoport
Show: The Spoon Podcast
Guest: Evan Rapoport, Lead Product Manager, Nature for Climate at Google
Evan Rapoport explores the intersection of food and AI, focusing on the potential impact of AI on biodiversity and the food system.
The Tidal project demonstrates the application of AI technologies, such as computer vision, in aquaculture, showcasing how AI can contribute to this specific sector.
Rapoport suggests that generative AI could have a significant and potentially early impact on the world of food, highlighting the potential for innovation in this field.
🎙 This week in alt protein by Green Queen Media
Show: Green Queen Alt Protein Weekly
Meatless Farm (“UK’s Beyond Meat”), a plant-based meat company based in the UK, is experiencing financial difficulties and is reportedly preparing for bankruptcy.
JBS, a prominent meat processing company, is seeking to distance itself from the negative association of "deforestation beef." They are exploring options such as cultivated meat and methane biogas to mitigate their environmental impact.
Taco Bell is testing its first vegan main dish in three cities across the United States. Early reviews indicate positive reception and an enjoyable taste experience.
VISUAL DELIGHT
🎵 Impossible Foods' new musical ad campaign: Making meat history
The ad campaign positions Impossible Foods as meat from plants for anyone who loves the taste of meat, not just for vegetarians or vegans.
The lighthearted and approachable nature of the campaigns aims to make the choice between Impossible products and animal meat feel less intimidating for consumers.
The company's marketing strategies have shifted to attract a broader demographic and emphasize that Impossible products are meat made from plants, offering a delicious alternative with additional benefits.
Read full article about the ad - Green Queen
🔍 Exploring the potential of emerging markets in food tech
Emerging markets, comprising 80% of the world's population and almost 70% of global GDP growth, present vast potential for investment and expansion.
The focus has shifted from traditional BRICS countries to emerging N11 and MINT countries, including South Korea, Vietnam, Mexico, Indonesia, Nigeria, and Turkey. These countries show great growth and investment potential in the food tech sector.
The increased buying power of the middle class in emerging markets provides opportunities for companies to position themselves as aspirational brands.
That’s all for this week. Take care and have an awesome week! 🙌🏾
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