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jerryking : food_tech   8

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
Tech City News: London to host first Food Tech Week
Weblog post. Newstex Trade & Industry Blogs, Newstex. Oct 1, 2015.

ProQuest Central: hackathon and food and distribut*

October will see the launch of London's first ever 'Food Tech Week' which will be celebrating all things food and facilitating tec...
London  United_Kingdom  product_launches  food  technology  hackathons  disruption  ecosystems  brands  fresh_produce  innovation  food_tech 
october 2015 by jerryking
The year the Valley embraced sustainable food innovation
Feb. 21, 2013 | GiGaOM | By Katie Fehrenbacher.

When I ask Tetrick why his company is “venture backable,” he says because they are creating a powerhouse of innovative thinkers that can come together across disciplines, and traditional food companies just aren’t as nimble. Tesla used that same argument for why as a startup it can revolutionize the car industry, and out innovate against the large automakers.

But Tesla is a sort of outlier on a lot of levels. It’ll be harder to disrupt more traditional industries without Moore’s Law in your corner. But in the meantime, as these startups sink or swim, at least they’ll be putting the spotlight on a crucial problem: the food industry is broken and it needs technology and innovation to be fixed.
Silicon_Valley  food  food_tech  innovation  Vinod_Khosla  venture_capital  start_ups  Peter_Thiel  nimbleness  supply_chains  dysfunction  Moore's_Law 
february 2013 by jerryking
Canada's food producers relish taste of success
Sep. 06 2012 | The Globe and Mail | by TAVIA GRANT

Toronto - now the second-largest food producer in North America after Chicago - has developed a comprehensive food plan. In May, Ontario unveiled a food-cluster strategy that aims to attract global investment and promote Canadian products overseas. This fall, the province will open an institute of food-processing technology that will eventually host 500 full-time students. The Conference Board is working on a national framework for the food industry and the Canadian Agri-Food Policy Institute is also working on policy.

It's a promising source of employment. Making a chicken nugget or pre-made Caesar salad, for example, typically needs more people than making a car part. Wages also tend to be higher - jobs in the industry yield wages that are on average 25 per cent higher than the national average, the industry says.

Food-innovation centres are springing up across Canada with government and university backing, from Charlottetown's smart kitchen to Burnaby's agri-food centre. They frequently function as labs that bridge researchers, students and the private sector.

Guelph's food-technology centre is used by companies such as Italpasta Ltd. and McCain Foods to test out new ideas and combine new types of ingredients. One room, a cross between a giant kitchen and mad-science lab, tests new types of cheeses and ice creams.

The centre also helps companies identify new trends. Karen McPhee, manager of product-development services, rattles off several shifts: sodium-reduced food, gluten-free products and simpler, more natural ingredients. Food is being viewed as medicine, she says, with more products that promise Omega 3s, antioxidants or probiotics.

The sector faces its share of headwinds. Like other manufacturers, a strong currency and volatile energy prices are causing headaches, and it has smaller economies of scale than many counterparts.
Tavia_Grant  food  honeybees  manufacturers  food_tech  niches  Toronto  clusters  innovation  agribusiness  foodservice  Guelph  economies_of_scale  probiotics  product_development  Canada  Canadian 
december 2012 by jerryking
Ontario Agri-Food Technologies
Ontario Agri-Food Technologies
200-120 Research Lane
Guelph, Ontario N1G 0B4
Canada
Phone: +(519) 826-4195
Fax: +(519) 821-7361
Email: info@oaft.org
Gord Surgeoner, President
Kathy Derksen, Office Manager
Italo Cerra, Secretary/Treasurer
Ontario  agriculture  farming  food_tech  Guelph 
march 2012 by jerryking

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