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jerryking : beyond_meat   5

Plant-based ‘meat’ craze drives demand for yellow peas
JULY 3, 2019 | Financial Times | by Emiko Terazono.

The soaring popularity of plant-based meat substitutes has shone a spotlight on a new star ingredient: the humble pea.....From Beyond Meat, which has seen its shares rocket after a flotation in May, to US meat producer Tyson and Nestlé of Switzerland, food companies are turning to protein from the yellow pea as the key ingredient for plant-based foods including burgers, bacon, tuna and yoghurt...The rush to introduce products amid a spike in demand from consumers has led to a scramble to secure supplies. The squeeze has not been caused by the availability of the yellow pea itself — which is plentiful, boosted by Chinese curbs on Canadian imports in the wake of the Huawei row, and a move by India to place tariffs on pulses — but a lack of processing capacity to produce the protein powder extracted from the legume. Producers have simply not kept pace........companies are received just 25% of their pea-protein orders as suppliers diverted the shipment to other buyers....in the face of increased demand....locking down supplies had been front of mind. “We’ve started building up a stockpile. Everyone else is doing it as well.”....Yellow peas, a pulse or dry edible seed that is part of the legume family alongside soyabeans, lentils and chickpeas, have become the protein source of choice for many food companies as consumers are turning away from soyabeans......there is no exchange-based market for pea protein isolate and prices are hard to track,... demand is so strong that buyers have struggled to secure long-term supply deals. “For companies that want to lock in prices for the remainder of 2019 and 2020, there is reluctance from their suppliers to guarantee higher quantities at lower prices,”...Beyond Meat has signed a three-year contract for its pea protein with Puris, adding to a supply agreement with Roquette, which expires at the end of the year. .....Ripple Foods, a California start-up that produces pea-protein based milk, has seen sales double every year since it launched in 2016. The company, which counts Goldman Sachs among its investors, contracts farmers to grow yellow peas and then processes its own pea protein. That insulates Ripple from price swings.....taking Ripple out of the pea protein market...An increasing number of food and ingredient companies have invested in the pea protein sector over the past few years. Cargill.... backed Puris at the start of last year, putting in $25m and launching a joint venture.

New plants to produce pea protein are expected to get up and running over the next year. Roquette is building a processing plant in Manitoba, Canada, while Verdient Foods of Saskatchewan, a plant protein group backed by James Cameron, the Oscar-winning director of the film Titanic, is also planning new capacity.

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Beyond_Meat  Big_Food  Cargill  food_tech  legumes  Nestlé  plant-based  pulses  Puris  proteins  Ripple  Roquette  soybeans  stockpiles  supply_chains  supply_chain_squeeze  Tyson  Verdient 
july 2019 by jerryking
Cashew foie gras? Big Food jumps on ‘plant-based’ bandwagon
MAY 18, 2019 | Financial Times | by Leila Abboud in Paris and Emiko Terazono in London

* Boom in meat and dairy substitutes sets up ‘battle for the centre of the plate’
* Nestlé recently launched the Garden Gourmet's Incredible burger in Europe and plans to launch it in the US in the autumn in conjunction with McDonald’s.
* Burger King has partnered with a “foodtech” start-up to put meat-free burgers on their menu.
* Pret A Manger is considering a surge in its roll-out of vegetarian outlets as it looks into buying UK sandwich rival Eat.

A change is afoot that is set to sweep through the global food industry as once-niche dietary movements (i.e. vegetarians, then the vegans, followed by a bewildering array of food tribes from veggievores, flexitarians and meat reducers to pescatarians and lacto-vegetarians ) join the mainstream.

At the other end of the supply chain, Big Food is getting in on the act as the emergence of plant-based substitutes opens the door for meat market disruption. Potentially a huge opportunity if the imitation meat matches adoption levels of milk product alternatives such as soy yoghurt and almond milk, which account for 13% of the American dairy market. It is a $35bn opportunity in the US alone, according to newly listed producer Beyond Meat, given the country’s $270bn market for animal-based food. 

Packaged food producers, burdened with anaemic growth in segments from drinks to sweets, have jumped on the plant-based bandwagon. Market leaders including Danone, Nestlé and Unilever are investing heavily in acquisitions and internal product development.

Laggards are dipping their toes. Kraft-Heinz, for example, is investing in start-ups via its corporate venture capital arm and making vegan variants of some of its products. Even traditional meat producers, such as US-based Tyson Foods and Canada’s Maple Leaf Foods, are diversifying into plant-based offerings to remain relevant with consumers.......“Plant-based is not a threat,” said Wayne England, who leads Nestlé’s food strategy. “On the contrary, it’s a great opportunity for us. Many of our existing brands can play much more in this space than they do today, so we’re accelerating that shift, and there is also space for new brands.” .....a plethora of alternative protein products are hitting supermarket shelves... appealing to consumers for different reasons....(1) reducing meat consumption for health reasons... (2) others concerned about animal welfare...(3) concern over agriculture’s contribution to climate change......As Big Food rushes in, it faces stiff competition from a new breed of start-ups that have raced ahead to launch plant-based meats they claim look, taste and feel like the real thing. Flush with venture capital funding, they have turned to technology, analysing the molecular structure of foods and seeking to reverse-engineer versions using plant proteins......Not only are the disrupters innovating on the product side, they are rapidly creating new brands using digital marketing and partnerships with restaurants. Big food companies, which can struggle to create new brands, often rely on acquisitions to bring new ones onboard.....Aside from the quality of the new protein substitutes, how they are marketed will determine whether they become truly mass-market or remain limited to the margins of motivated vegetarians and vegans. The positioning of the product in stores influences sales, with new brands such as Beyond Meat pushing to be placed in the meat section rather than separate chilled cabinets alongside the vegetarian and vegan options.....Elio Leoni Sceti, whose investment company recently backed NotCo, a Chile-based start-up that uses machine learning to create vegetarian replicas of meat and dairy, believes new brands have an edge on the marketing side because they are not held back by old habits. 

“The new consumer looks at the consequences of consumption and believes that health and beauty come from within,” said one industry veteran who used to run Birds Eye owner Iglo. “They’re less convinced by the functional-based arguments that food companies are used to making, like less sugar or fewer calories. This is not the way that consumers used to make decisions so the old guard are flummoxed.”...Dan Curtin, who heads Greenleaf, the Maple Leaf Food's plant-based business, played down the idea that alternative meats will eat into meat sales, saying the substitutes were “additive”. “We don’t see this as a replacement. People want options,” he said. 

 
animal-based  Beyond_Meat  Big_Food  brands  Burger_King  CPG  Danone  diets  digital_strategies  food_tech  hamburgers  Impossible_Foods  Kraft_Heinz  laggards  Maple_Leaf_Foods  McDonald's  meat  Nestlé  new_products  plant-based  rollouts  shifting_tastes  start_ups  tribes  Unilever  vegetarian  vc  venture_capital 
may 2019 by jerryking
This is nut loaf, will Beyond Meat crash? | FT Alphaville
9 HOURS AGO By: Jamie Powell

Beyond Meat is the only pure-play plant-based protein company listed.
Beyond_Meat  green  hamburgers  Impossible_Foods  IPOs  new_products  plant-based  pure-plays  shifting_tastes  Tyson  vegetarian 
may 2019 by jerryking
The Impossible mission — to save the planet with a burger
April 5, 2019 | Financial Times Emiko Terazono and Tim Bradshaw in London.

Impossible Foods discovered that “heme”, an iron-containing protein molecule present in plants and animals, was the magic ingredient giving meat its aroma, taste and texture. Heme, produced through genetic engineering and yeast fermentation, is also behind the “juices” that make the Impossible burger bleed... In 2019, the company has introduced a new and improved burger after swapping wheat for soyabeans and using less salt. After signing its distribution deal with Burger King it is fundraising to increase the capacity of its production facility in Oakland, California.

Along with rival Beyond Meat, which is preparing to float in the US, Impossible has sought to lure meat-eating consumers who want to reduce their meat intake or are looking for tasty options, casting the net wider than vegans....... Pat Brown , 64-year-old former professor of biochemistry, is the founder of Impossible. ..Mr Brown seems to have slipped into his role as an entrepreneur with ease. He told investors that if they backed him, he was going to make them “insanely rich”.

His pronouncements that he was not bothered about exits have been perceived as arrogance by some venture capitalists. However he has still raised more than $475m since 2011 and attracted plenty of other backers, including Viking Global, Bill Gates, and Li Ka-shing’s Horizons Ventures. Investors hope the latest fundraising will value the company at more than $1bn.

Bruce Friedrich, who launched the Good Food Institute, a US not-for-profit that promotes alternative proteins and advises start-ups, calls Mr Brown “a prophet” and praises his “infectious optimism”....If the Impossible burger is successful, Mr Brown hopes to eliminate animal meat in the food chain by 2035, helping the earth to restore its vegetation cover.
Beyond_Meat  green  hamburgers  Impossible_Foods  Kholsa_Ventures  plant-based  prophets  Silicon_Valley  start_ups  vegetarian 
april 2019 by jerryking
Impossible Burger’s ‘Secret Sauce’ Highlights Challenges of Food Tech
AUG. 8, 2017 | The New York Times | By STEPHANIE STROM.

food is not an app. It is far more heavily regulated by governments and much more heavily freighted with cultural and emotional baggage.

“This rush to market is the Silicon Valley mind-set,” said Michael Hansen, a food safety expert who is the senior staff scientist at Consumers Union, an advocacy group. “They think because they’re doing something disruptive, the regulations that apply to other companies don’t apply to them.”

For now, few food start-ups are selling products to consumers. Only Beyond Meat, which uses a traditional pea protein to make its Beyond Burger; Hampton Creek, which makes plant-based sandwich spreads and salad dressings; and Impossible Foods have any notable presence in the market.
food_safety  vegetarian  FDA  Beyond_Meat  Impossible_Foods  plant-based  Hampton_Creek  special_sauce 
august 2017 by jerryking

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