The firm generated some buzz in early 2022 with the launch of plant-based chicken wings featuring edible “skin” from a protein-lipid film, and “bones” from bamboo stalks.
The firm—best-known for its meaty tasting heme proteins produced via precision fermentation—told staff it would be closing down last fall but has not commented publicly on the decision.
While the concept of minimal viable product (MVP) has proven its value in software, it doesn’t translate so well into food Unlike software, a food product cannot be “patched” once it hits shelves…
It is “clearly communicated to all competitors in our documentations that awards are not guaranteed,” says XPRIZE. “This is not the first time a winner has not been identified by our judges.”
Opinion is a key milestone on the way to making Impossible Foods’ flagship products available in the EU, pending final approval by the European Commission and EU Member States, says the firm.
Beyond Meat returned to growth in the third quarter, posting a 7.6% year-over-year rise in net sales to $81 million driven by lower trade discounts and targeted price increases.
The Israeli startup is launching its plant-based whole cuts in the US retail market at independent retailers in Los Angeles and New York City and eyeing an e-commerce launch before the end of the year.
US retail sales of refrigerated alt meat fell 22.8% year-over-year in September, while sales of frozen products fell just 1.3% over the same period, according to new data from Circana.
Barcelona-based Heura made its name selling alt meat but has since developed novel texturizing technology that can be applied to everything from cheese to pasta.
The Slovenian startup is “on a path to become profitable by the end of this year,” says cofounder and CEO Tilen Travnik.
The warring foodtech firms have agreed to dismiss the case with “each party to bear its own costs, expenses, and attorneys’ fees.”
“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.”
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?
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.
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.
