|Green Queen Alt Protein Weekly | Nov 19 2020 Edition | View online|
|Image by Green Queen Media & Michael KlarFUNDING & INVESTMENT✅ It’s official: research by Green Queen and Michael Klar has revealed that APAC alt protein startups raised more than $230M in the past 12 months, which is truly record-breaking. This is the first time a total funding number has been published, and the astounding growth is due in part to the rising awareness of the connection between our food choices and their impact on the global climate crisis, alongside increasing concerns over global food safety and security.|
Why it’s important: the figures amount to over 350% more funding than in the three previous years combined, allocated to over 70 startups in the APAC region, with the potential for further staggering growth in 2021. Get further brilliant insights on the data from Michael Klar at Future Food Now.✅ Natural Order Acquisition Corp., a new blank check company targeting plant-based foods, has raised a $230M IPO, and intends to use the capital to fund its portfolio of companies working on plant-based foods and other sustainable alternatives to animal-based products.
Why it’s important: this, along with other milestone IPOs, is an indicator of the strength of the plant-based market, and the bullish approach companies and investors are taking to drive growth within it.✅ Swedish startup VEAT landed €500k pre-seed funding to support the launch of its plant-based vending machines across Stockholm.
Why it’s important: the vending machines will provide consumers with convenient, affordable access to plant-based foods. And they come at a time when a grab-and-go option may be far preferable to, or even safer than, traditional restaurant services. Smart move guys!✅ An Australian cell-based crayfish research project is the first of its kind to secure seed grant funding from New York-based cellular agriculture research institute New Harvest.
Why it’s important: so far, innovation in this area is still in its infancy, but crustacean production will be a key animal-dependent market for disruption.Image by Pink AlbatrossPRODUCT LAUNCHES✅ Madrid-based Pink Albatross’ plant-based ice creams contain only four ingredients, are suitable for vegans, gluten-free consumers and those allergic to eggs, peanuts and soy. The clean-label treats are already available in regional supermarkets and some delivery platforms across Spain, and the brand now has its sights set on international expansion.
Why it’s important: its ambitious plans to make its products accessible to mainstream consumers, at a time when flexitarianism is at an all-time high, has real potential to disrupt the dairy ice cream industry.✅ Indian plant-based startup Upstablish Food Technologies just launched the country’s first range of ‘hyper-realistic’ plant-based meats under its brand Greenest. The line includes vegan Shami Kebabs made from soy protein, split roasted chickpeas and natural flavourings.
Why it’s important: the company’s mission is to get smarter protein onto Indian plates, through product offerings which are tailored to Indian tastes, for maximum appeal.✅ Beyond Meat is launching two new versions of its signature burger early next year. Both with an ‘even better nutritional profile’, one is described as ‘juicier’ than the existing and another which is healthier, with significantly reduced saturated fat, especially when compared to conventional 80/20 beef.
Why it’s important: increased choice, plus improved taste, should help to attract and retain more consumers, and drive down conventional beef consumption.✅ Quorn just expanded its home delivery service in Singapore with a range of meatless dim sum products.
Why it’s important: expanding its social distancing-friendly offer in Asia is an indicator of how the brand plans to take advantage of the growing market in the continent.✅ Plant-based pet nutrition brand V-planet announced that it is partnering with Wholefoods, Inc., a Kyoto-based distributor of plant-based foods, to launch its vegan dog food products in Japan.
Why it’s important: the plant-based market is growing all the time, so improving availability of plant-based lifestyle products will only serve to increase that growth.Image by HeuraCONSUMER TRENDS & RESEARCH✅ Plant-based brands love controversial campaigns (remember Oatly’s earlier this year?), and Spanish vegan meat brand Heura is no different. Its latest Madrid billboard which states ‘one beef burger pollutes more than your car’ is designed to encourage consumers to choose sustainable alternative proteins and take action against the climate crisis.
Why it’s important: being provocative garners attention, and in this case it’s for an incredibly pressing cause.✅ Fermentation FTW! The Good Food Institute recently held a Symposium on Fermentation, which highlighted its ‘critical role’ in the future of sustainable food solutions.
Why it’s important: thanks to its extremely versatile technology, the opportunities to leverage fermentation are huge, particularly within the functionality and sensory experience elements of meat substitute development.“Instead of isolating and purifying collagen and gelatin from animals we grow it – using cells in a bioreactor. We don’t require acres of land, live animals, shipping, slaughtering and various complicated processes to produce collagen.”– Stephanie Michelsen, Co-Founder & CEO of Jellatech✅ Brand new biotech startup Jellatech is creating animal-free and slaughter-free collagen and gelatin by growing cells in a bioreactor.
Why it’s important: these two ingredients are widely used across many industries and make up a global market worth $3.5Bn with a CAGR of 9%, so the potential to disrupt the animal-based supply chain is enormous.✅ Moolec Science is using molecular farming to harness both plant-based and cell-based technologies and create ‘hybrid’ alternative protein solutions.
Why it’s important: its approach is ‘at least ten times more cost-effective’ than other leading alternative meats on the market, which should make the products more quickly accessible for consumers.ENJOY THIS EMAIL? FORWARD IT✅ A new study by New York-based Polaris Market Research states that the global plant-based meat market will reach over $35Bn by 2027 from a base point of $11.1Bn in 2019, thanks to rising consumer awareness of health concerns associated with food-borne illness in animal meat, alongside food safety and nutrition.
Why it’s important: reducing meat intake is one of the key drivers of addressing climate change and building a sustainable food system, so the market growth in plant-based meats is an encouraging sign.✅ The global pandemic has been a key driver in shifting consumer awareness around food security and safety, and it’s no different in China where 62% of consumers would now be willing to switch to cultivated meat as a solution for food security.
Why it’s important: China’s meat consumption is massive, so it’s important to frame cultured meat in the right way, as a positive product for health, in order to make the most impact and potentially seriously disrupt the industry.PARTNER EVENT HIGHLIGHTJoin us on 23 November 2020 at 11am Beijing / Hong Kong / Singapore / 2pm Sydney, for a webinar to discuss the growing popularity of plant-based products and the fast-growing market of plant-based meat and beverages, including insights from a variety of brilliant panelists including the CEOs of Green Queen, Green Monday & Vitasoy. We will draw on global and Asia Pacific research conducted by GlobeScan during the height of the COVID-19 pandemic showing that consumers around the world are willing to change their behaviour to become healthier and have a more sustainable approach to nutrition.REGISTER HERE SCENE & HEARDInterested in alternative dairy? Then this conference by Protein.Directory will be right up your street.Don’t forget that Kind Earth.Tech is hosting the Kind Technology for Future Food event on 20 November. Register here if you haven’t already!The Asia-Pacific Agri-Food Innovation Summit is happening right now, don’t forget to tune in.
Source: Green Queen