The JackFruit Company is growing at a double digit pace at a time when many other players in the alt meat segment are struggling, says founder and CEO Annie Ryu.
Asked whether he would remain in the CEO role, founder Dr. Oliver Zahn said: “TBD. In line with the commercial trajectory, we will be on the lookout for a strong commercial lead at the exec level, so I can focus on science and vision.”
The warring foodtech firms have agreed to dismiss the case with “each party to bear its own costs, expenses, and attorneys’ fees.”
The only subsegment delivering meaningful growth in unit sales was coconut milk, with dollar sales up 12.6% and units up 13.9% in the year to July 14, albeit off a small base.
A new player has emerged on the alt dairy scene with an aged plant-based cheddar launching at select restaurants in New York City and the San Francisco Bay Area under the Plonts brand.
“We are trying to drive this business to cashflow positive operations as quickly as possible,” says CFO Lubi Kutua. “We have not said that that will occur this year.”
Potato protein is highly soluble and has gelling, foaming, emulsification, binding, texturizing and stabilizing properties. It is also non-allergenic, which makes it attractive to formulators if the availability is there and the price is right, says ReaGenics.
The firm—which will use co-packers to manufacture its products with a view to launching in the fourth quarter of 2024—will have an initial focus on plant-based shrimp.
Dumped Chinese pea protein was “main reason our operation became non-viable,” says ex-CEO at Merit Functional Foods as Canada launches probe.
Beyond Meat posted a net loss of $54.4m on revenues down 18% to $75.6m in Q1, 2024. However, gross margins moved back into positive territory.
What is holding back the plant-based meat market? Poor taste and texture? The hefty price tag? Poor branding and positioning?
The foodtech co—which had been told it was a winner weeks ago to give the team time to plan a trip to Portland for the awards ceremony—was told it had fallen foul of rules it claims had not previously been communicated.
US retail sales of plant-based meat fell 12% in 2023 with units down 19%, while plant-based milk sales were up 1% with units down 8%.
GLP-1 drugs are “going to be a big disruptor for the food industry,” says Dr. Justin Shimek at California-based product innovation firm Mattson, which is expanding to the Midwest with the acquisition of Hyde Park Group.
Dutch startup Rival Foods will start deploying shear cell technology—a novel approach to texturizing plant-based proteins that can create whole cuts—at a “commercially viable scale” this summer.
Planted is deploying a “proprietary solid-state fermentation process” to make its beef steaks, says the Zurich-based firm.
“It is more likely than not that a CRISPR-enabled cell line will ultimately be necessary [for profitable production at scale],” says Eat Just CEO Josh Tetrick.
The zero-cholesterol, low-saturated fat eggs are made from a base of soy and chickpea protein plus sunflower oil, with ‘runny’ yolks sealed from the whites by an alginate film.
Spanish plant-based meat startup Heura posted a 22% increase in sales to €38.3m ($41.5m) in 2023 and says it’s on course to turn a profit next year.
Beyond Meat Jerky, the first product to emerge from the firm’s JV with PepsiCo, is being discontinued less than two years after launch.
