Despite how rapidly the plant-based space has grown in the past few years, plant-based meat has hit a sales slump. Market watcher SPINS shared recent data detailing how sales in the overall plant-based meat market dropped 1.8% year over year for the four-week period ending October 3rd. Why is this so? Read more here.
Regardless, the alternative protein space remains robust and constantly evolving. This week, we’ve gathered news from this space on Paleo’s funding round, UPSIDE Food working with the USDA, consumers’ desire for more transparency, animal-free milk at Starbucks, and a plant-based labeling law in Oklahoma.
Alternative protein startup Paleo raises €2M in seed round, prepares series A round of €40M
Paleo, a Belgian-based foodtech start-up, announced in a press release sent to The Spoon that it has raised €2 million (~$2,256,480 USD) in a seed round as it prepares for a future series A round of €40 million (~$45,128,600). Using precision fermentation, the alternative protein start-up develops meat and fish protein that are intended to be used as ingredients in plant-based meat and fish products. The funding will be put towards research and development, and used to open up an R&D center, pilot plant, and experience center.
UPSIDE Foods responds to USDA’s request for comment
Cultivated meat company UPSIDE Foods responded to the USDA’s recent advance notice of proposed rulemaking (ANPR) titled “Labeling of Meat and Poultry Products Comprised of or Containing Cultured Animal Cells.” The FDA and USDA are working together to oversee the production of cultivated meat and seafood in order to develop regulations and standardize labeling. UPSIDE, which recently opened a 53,000 square foot production facility, has been working closely with the agencies as its technology is pending regulation. In response to the USDA’s ANPR, UPSIDE said it believes that “cultivated” is the appropriate terminology for meat made from cells, that labeling should be truthful and transparent, and that it should be mandatory to disclose the production process of cultivated meat products.
Curious What’s in That Faux Sausage? You’re Not Alone: Consumers Want Greater Transparency With Alt-Protein Ingredients
C.O.nxt and Menu Matters recently conducted a survey to analyze consumer opinions and alternative protein trends. One of the main takeaways of this survey was that almost half, or 41.3 percent of consumers, want total ingredient transparency before committing to alternative proteins. Before replacing meat products with alternative protein products, consumers desire to know how exactly alternative products are produced and what goes in them. Read the full article here.
Starbucks is Trialing Animal-Free Milk. I Decided to Try it Out to See If It Tastes & Foams Like Regular Milk
In case you haven’t heard, Starbucks is trialing animal-free milk in the Seattle market. No, we’re not talking Oatly or another plant-based milk, but a milk with cow milk-identical proteins made in a lab. The alt-milk is from Perfect Day, a company that uses precision fermentation to create its proprietary β-lactoglobulin animal-identical milk protein. The company’s protein, which received GRAS approval from the FDA last year, has primarily been sold to consumers in the form of ice cream (and soon cream cheese), but not in the form of a milk product. However, this move could signify that one could be on the way. Read the full article here.
Tofurky and the Plant Based Foods Association Are Challenging an Oklahoma Plant-Based Labeling Law
The Animal Legal Defense Fund filed a complaint this month against an Oklahoma plant-based labeling law on behalf of Tofurky and the Plant Based Foods Association. It’s not the first time Tofurky and the Fund have teamed up to challenge plant-based labeling legislation: In the last couple of years, they’ve also filed suits in Louisiana and Arkansas. But there’s something different about the Oklahoma law—and that difference could make it trickier for plant-based producers to challenge. Read the full article here.
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