The most read articles, week of 5 August 2024
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??Beyond Meat's Q2 win amid challenges
Beyond Meat's Q2 2024 results exceeded revenue guidance with $93.2 million in net revenue and achieved the best quarterly margin since 2021, despite an 8.8% year-over-year decline. CEO Ethan Brown remains optimistic about the company's progress and focus on health and wellness.
??Oat milk waste to festival burgers
The Green Dairy has developed a method to turn oat milk residues into sustainable plant-based burgers, debuting at Sweden's Way Out West festival. “We hope our circular production model will inspire the industry, and we welcome collaboration with other food companies to develop the foods of the future."
??Impossible Foods' heme gets EFSA green light
The European Food Safety Authority (EFSA) has deemed Impossible Foods' soy leghemoglobin, the key ingredient for its meat-like flavor and color, safe for consumption, marking a significant step towards market approval in the EU.
??Veganz secures €10M to boost Mililk production
Veganz Group AG has secured up to €10 million in equity financing from Global Corporate Finance LLC to scale up the production of its innovative 2D-printed milk alternative, Mililk, and the pea protein-based Peas on Earth. The funds will help increase production capacity by five times, meeting growing demand for sustainable food alternatives.
??European alt protein investments: fermentation raises more than PB
In the first half of 2024, European alt-protein companies secured €289 million in investments, with fermentation-derived products leading the way at €164 million. Despite a general decline in startup funding, the sector is seeing a recalibration that could strengthen its long-term prospects, with calls for increased public investment to accelerate growth.
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??JetBlue adds oat milk to in-flight menu
JetBlue Airways now offers oat milk packets as part of its complimentary beverage service, catering to dietary preferences with Lakeland Dairies’ Oat in a Stick. The airline also provides vegan snack options and plant-based meal choices on select flights.
??Plant-based cheese that stinks
California startup Plonts has launched its first product, an aged plant-based cheddar, at select NYC and SF restaurants. Backed by $12 million in seed funding, the company uses microbial fermentation to transform soy into cheese with traditional cheddar's taste and texture.
??Brazil's Typcal secures R$250,000 for mycoprotein development
Typcal, a Brazilian mycoprotein startup, has secured R$250,000 from Paraná Anjo Inovador. Founded in 2021, Typcal uses fast fermentation to produce high-protein, low-fat mycoprotein for food. The funding will help scale production and advance technology, with plans to launch products by 2025.
??SUJIS LINK receives $2.5M from Samyang Foods
South Korea's SUJIS LINK has received ?3 billion ($2.5M) from Samyang Foods to advance its plant-based meat products. The funding will help launch new items under the ‘Veself’ brand and expand distribution internationally, leveraging Samyang’s global network.