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Future Market

January 22, 2019

What’s Next In Food? CBD, Cultured Eggs, Food Waste Cookies and More

Last week in the vast, cavernous halls of the Winter Fancy Food Show, there was one area I found myself gravitating towards more than anywhere else: the What’s Next in Food exhibit.

Produced by the Future Market and Seeds & Chips, the area featured innovative startups shaping the future of food and agriculture, from hemp elixirs to upcycled cookies to cultured eggs.

Strolling through the booths at the exhibit, I saw several overarching food trends:

Photo: Catherine Lamb

Upcycled food… mostly cookies
To fight food waste, companies are repurposing food that would normally get thrown out, “upcycling” the items into brand-new products. On the exhibit floor I saw two companies upcycling surplus food: Soulmuch and Renewal.

Founded one year ago, Soulmuch is a San Diego-based startup that turns food destined for the trash into something everyone loves: cookies. Made from brown rice and quinoa from chain restaurants (like P.F. Chang’s) and juice pulp, the cookies come in flavors like chocolate chip, espresso, and carrot. The cookies, which cost a not-insignificant $4 each, are sold in farmers markets and retail spots near San Diego. Company CEO and founder, Reynne Mustafa, told me that they’re currently closing their seed round and are looking to raise a Series A in about a year.

Photo: Catherine Lamb

Across from Soulmuch was another upcycling company, also offering cookies (bless!). However, instead of rice or juice pulp, Renewal Mill‘s cookies contain okara: flour made from soybean pulp leftover from soymilk production. The Oakland-based company works with Hodo Foods, an organic tofu producer, to source their soybean pulp, which they dry and blitz to make a gluten-free, high-fiber flour. Renewal Mill sells the flour wholesale to CPG companies and direct to consumer through Imperfect Produce (in some regions).

An 8-ounce bag of okara flour retails for $4.50, but a spokesperson told me that its wholesale price is competitive with whole wheat flour — and a lot cheaper than other gluten-free flours on the market.

Photo: Catherine Lamb

CBD edibles (and drinkables)
Cannabidiol (CBD) food and drink is so hot right now, and we saw a couple of companies at the Fancy Food Show making use of the trendy ingredient. However, unlike most edibles companies, which use isolated CBD or hemp extract, Lumen juices the entire hemp plant — flowers, seeds, and all — and add it to their juice shots. According to Lumen co-founder Kris Taylor, juicing the entire plant results in water soluble and full spectrum CBD, and also has added health benefits.

Lumen recently completed its crowdfunding campaign on IndieGoGo and will be launching online and in retail at Erewhon and Lazy Acres (both in L.A.) sometime soon.

Photo: Catherine Lamb

Meat and dairy alternatives
Alternatives to animal products (meat, dairy, etc) are growing in popularity, so it’s no surprise there were quite a few of these companies at “What’s Next in Food” exhibit:

  • Abbot’s Butcher: Maker of non-GMO plant-based meats, like ground “chicken” and “chorizo.” The texture is a little chewy, but it makes for a good filler in dishes like grain salads and taco bowls.
  • Fora: Created dairy-free “butter” using aquafaba, the water in which chickpeas have been cooked. I sampled some smeared on a baguette and have to say — I legitimately could not believe it wasn’t butter.
  • Clara Foods: Cellular agriculture company making a cultured egg white (like cultured meat, but for eggs). The startup has yet to bring a product to market.
  • Tiny Farms: B2B company making cricket powder to be used for animal feed, pet food, and cookies/snacks for human consumption. I tried one of their lime-flavored whole roasted crickets and it was delicious.

Photo: Farm from a Box.

Full stack agtech
There were a number agtech startups in the “What’s Next in Food” area, but the one that most intrigued me was called Farm from a Box. The name is pretty self-explanatory: the company builds boxes out of shipping containers which contain everything needed to maintain an off-grid two-acre planting farm. The boxes have internal cold storage, irrigation tools, basic tools, and solar panels for renewal energy, and can generate 50-55 tons of produce per year. They cost between $60-65K plus an ongoing subscription service and can be tweaked to fit a particular environment’s needs. “Like a lego system,” explained Farm from a Box’s founding partner Brandi DeCarli.

So far there are five of these farming boxes out in the world: one in Tanzania and four in the U.S. The staff don’t just drop a box and leave — they stay for a while to train local farmers, and afterwards provide ongoing support. So far, Farm from a Box has raised $650K from a combination of equity crowdraising and angel investors.

Were you at the Fancy Food Show? What food (or drink) trends caught your eye on the show floor? 

March 22, 2018

Podcast: Reimagining The Grocery Store with The Future Market’s Mike Lee

Growing up in Detroit, Mike Lee loved going to auto shows. His favorite part was seeing the concept cars auto makers rolled out to help consumers envision the future.

As he got older, Lee wondered why food companies never created similar concept products. Why not, after all, create the products of the future and show them to people?

Eventually, he decided to do it himself as part of his company The Future Market, and Lee brought his “concept cars” for food to the Fancy Food Show this past January. I had a chance to tour Lee’s vision for the reimagined grocery and knew at that point I needed to have him on the podcast to talk about what the grocery store of the future would look like.

Enjoy the podcast.

August 2, 2017

Next Gen Grocery: The Future Market Looks At The Future Of Food

Mike Lee spent time as a kid marveling at concept cars at auto shows in Detroit. “This huge auto industry institutionalized the tradition of creating a non-production model concept whose sole purpose was to show the world what that company was dreaming about for the future.” Lee grew up and went searching for that kind of tangible look at innovation in the food world – and couldn’t find it. So he founded The Future Market, a futurist food project that looks at the ways food might be produced and consumers might shop for food in the future. Through concept products, specialized events, working shops and live engagements, the Future Market aims to be at the center of conversations around what our food systems will look like many years from now.

The Future Market focuses on two core areas of work – one is helping big food companies partner with startups and embed innovation into their own companies to act more like startups. Their innovation food platform, Alpha Food Labs, is a project designed to work with large corporations and food producers to help them maneuver faster through rapid prototyping projects.

If you were in NYC this past June, you might have seen a live demonstration of Future Market’s other big area of work: a conceptual grocery store of the future. The Future Market’s grocery store of 2042 looks like this: you walk into a market, filled with foods of the future – synthetic food, nontraditional forms of protein, sustainable and local produce – and a food ID system that knows your food preferences and nutritional needs through real-time biometrics matches you with products that are perfect for your health profile and palate but also meet your budget and are sustainable.

A little intrusive? Maybe – but food is core to life and what we put in our bodies, whether healthy or unhealthy, impacts not just how we feel today but our future health and well-being. People are bombarded with what’s considered healthy and what’s not and are often confused about what choices to make. And we’re seeing more companies come to the table to try and provide personalized nutrition options based on our own DNA. The Future Market is analyzing these trends and working to show consumers how these technologies might actually make eating and shopping more straightforward.

But Lee isn’t just interested in showing consumers what the future of food looks like, he wants to enable more cooperation across industries working in the smart kitchen to drive innovation.

“There is no open-source, uniform data standard whereby every food manufacturer can record the nutritional info, ingredient lists, processing methods, and ingredient provenance information into. That may sound like a really unsexy thing, but it prevents so much innovation from happening in the smart kitchen space,” comments Lee. “Imagine the web without HTML—every site used a different, proprietary coding language to create web pages. The internet would be a mess of incompatibility. It’s the same challenge if you want to create a smart fridge that understands all the ingredients within every item inside of it. If we had a uniform data standard that all food companies shared, smart fridges would be so much smarter.”

Don’t miss Mike Lee, at the 2017 Smart Kitchen Summit. Check out the full list of speakers and to register for the Summit, use code FUTUREMARKET to get 25% off ticket prices.

The Smart Kitchen Summit is the first event to tackle the future of food, cooking and the kitchen with leaders across food, tech, commerce, design, delivery and appliances. This series will highlight panelists and partners for the 2017 event, being held on October 10-11 at Benaroya Hall in Seattle. 

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