Plant-based meat alternatives continue their downward slide with sales, units and volume all dropping in July from a year ago – a trajectory that IRI data crunched by 210 Analytics shows was set in motion months ago, but which doesn't shake at least...
CPG companies and retailers should brace for softer sales in 2023 by leaning into the strategies they used during peak-pandemic as the US tiptoes around a recession and the shields protecting consumers from feeling the full brunt of the current economic...
After previous plans to boost Kraft Heinz’s profit margins and add value by aggressively cutting costs and practicing zero-based budgeting went awry and caused the company’s stock and consumer trust to plummet, Miguel Patricio was focused on the basics...
It’s been a “rollercoaster year” for meat alternatives, acknowledges Quorn Foods USA president Judd Zusel. But flagging sales in some parts of the market do not mean we should throw the baby out with the bathwater.
Equinom has partnered with AGT Food and Ingredients Inc. to bring commercial quantities of its non-GMO ultra-high protein yellow pea protein ingredients to market and co-create a portfolio of functional plant-based ingredients.
Rising food prices may have slowed slightly in August, but the year-over-year increase continued to rise higher into the double digits than it has in more than 40 years, according to new data from the Department of Labor.
The long-term imperative driving meat alternatives is clear: We only have one planet, with a growing population and finite resources, and raising animals to feed them all just takes up too many of them, says Tom Mastrobuoni, chief investment officer at...
BioBetter is a food tech start-up that aims to address one of the biggest bottlenecks facing the cultured meat sector: the high cost and low availability of growth factors. A fresh round of funding positions it to do just that.
Nextferm, an Israeli company focused on fermentation technology, has announced a production deal for one of its flagship ingredients branded as ProteVin vegan protein.
Forsea Foods has developed cell-cultured fish leveraging its patented organoid technology. FoodNavigator hears how this novel approach is simplifying the process of growing animal cells in bioreactors and assembling them into whole cuts and fillets.
The pressure of inflation and general consumer disillusionment are causing an overall downward trend in self-reported consumer usage of plant-based categories, finds new research from Evergi, Brightfield Group's research platform.
Have we reached peak alt-meat? Or is the weakening performance in US retail merely reflective of inflationary pressures (plant-based meat is more expensive than conventional, although the gap is narrowing) and well-publicized issues at some of the publicly-listed...
While weakening retail sales and grim quarterly earnings from some publicly listed players have prompted intense debate about the future of meat alternatives, the “crisis of confidence” this has prompted has overshadowed the fact that amid all this noise,...
Having experienced an average +30% YoY growth in 2019 and 2020, the alternative meat category slowed to flat YoY growth in 2021, with industry leaders such as Beyond Meat seeing negative growth in measured channels.
Future Meat Technologies is finalizing the site selection process for a large-scale cultivated meat plant in the US, with plans to break ground early next year and start manufacturing in 2024. However, it hopes to get products from its pilot plant in...
US retail sales of meat alternatives in measured channels tell a tale of two temperature states. Dollar sales of refrigerated meat alternatives are declining in double-digits, while frozen products are growing in the high single digits, according to IRI...
A new multi-million initiative by the US Department of Agriculture aims to reverse a downward trend in the number of farms transitioning to organic – a process that can put producers on their back foot financially as yields often drop during the three-year...
“It has been clear for a while that plant-based analogs will not displace meat,” says the CEO of Israeli cell-cultured (a.k.a. ‘cultivated’) meat co Aleph Farms. “The addressable market is larger for cultivated meat than for plant-based because the products...
Impossible Foods is expanding its collaboration with Burger King with tests of a plant-based ‘chick’n’ patty in 47 restaurants in Cincinnati, Ohio, through mid-October. The move comes hot on the heels of tests of Impossible’s plant-based nuggets in Burger...
While sales of refrigerated plant-based meat may be slowing, shares of some plant-based milk brands are slipping and consumer response to a handful of new products are tepid at best, industry leaders argue the party is far from over for the overall plant-based...
From sparkling beverages laced with adaptogens and probiotics to plant-based cream, milk, luncheon meat and dips, and the latest animal-free launch fueled by Perfect Day's whey protein (made without cows), checkout FoodNavigator-USA's latest...
Target has cut its inventory levels by 20% in the last two months in a conscious effort to streamline its business and set the company up for improved long-term growth, shared chairman and CEO Brian Cornell.
In a worst-case scenario, McKinsey is predicting a food deficit representing a year’s worth of nutritional intake for up to 250m people – or 3% of the global population.
Food elasticities are finally ticking up as middle- and upper-income consumers whose spending so far has remained resilient in the face of rising inflation begin to feel pinched – prompting them to shift to more affordable retailers, including Walmart.
It’s easy to see the grim P&L figures at Beyond Meat and Oatly and the recent lackluster performance of some refrigerated meat alternatives in US retail as proof that the entire ‘alt protein’ space is a busted flush, but the real picture is more nuanced,...
A row is brewing in the multimillion-dollar natural preservatives arena as Kerry Group and Florida Food Products square off in the courts over label-friendly alternatives to synthetic nitrites for use in cured meats, with Kerry accusing FFP of infringing...
As Americans continue to adjust to post-pandemic life and mounting economic uncertainty, consumer research from Mintel shows that many believe there is no going ‘back to normal’ and as such are changing the way they think about, budget and shop for, and...
Notoriously thin operating margins in the food supply chain will likely keep manufacturers and retailers from incrementally lowering prices even as input costs begin to come down – preferring instead to wait until the economic landscape stabilizes and...
In another sign that inflation may be peaking, wholesale prices fell month-over-month for the first time in July since April 2020, but commodities remain significantly higher than last year, suggesting it may be well into next year before food manufacturers...
ADM will soon begin processing ultra-high protein (UHP) soybeans from farm tech company Benson Hill with the first commercialized products expected to hit the market in early 2023.
As consumers become more familiar with plant-based alternatives to animal products they are becoming more sophisticated in how they evaluate their options and less willing to compromise on nutrition, taste, texture and variety – pushing industry to find...
While overall inflation in the US cooled slightly in July, giving hope to some economists that financial pressures may be peaking, food prices continue to climb at their fastest rate in more than 40 years – suggesting the economic recovery still has a...
The popularity of condiments soared during the pandemic as consumers used the products as an easy way to elevate an otherwise bland meal made at home, notes Mintel, which says that condiment brands must engage with younger consumers to ensure future long-term...
A lawsuit* recently filed by former co-packer Don Lee Farms accusing Beyond Meat of “grossly” overstating the protein in its products is motivated by “personal vendetta" and should be seen as a “transparent attempt to gain leverage” on the eve of...
Fresh off closing a $3.9m seed funding round* led by Unovis Asset Management, Paragon Pure is debuting its OléPBM alternative fat technology made from rice bran oil, which it claims outperforms palm and coconut oils in plant-based meat products.
Higher grocery prices across categories are starting to take a toll on consumers as they pull back on premium cuts of meat, overall animal protein volume and seek less expensive, value options, Tyson Food executives reported during the company’s third...
Sustainability “is probably on slide two or three of every customer presentation now,” notes Ingredion, but how can consumers cut through the PR noise to make meaningful comparisons between brands? Checkout our final gallery of trends at IFT FIRST exploring...
Beyond Meat – which has just posted another grim set of quarterly figures driving its share price down to new lows – is gearing up for a showdown with former co-packer Don Lee Farms at a court in Los Angeles with a trial date scheduled for September 26.
Tweaks to Sprouts Farmers Market’s marketing strategy to focus on competitive produce pricing and product differentiation along with other strategic decisions are paying off as foot traffic and sales begin to rebound after plummeting following the retailer’s...
Boston-based food tech firm Motif FoodWorks has promoted its CTO Dr Michael Leonard to the role of CEO, effective immediately, as current CEO Jonathan McIntyre moves to an advisory role in the company.
Food and beverage companies are under increasing pressure to measure, reduce, and accurately report their social and environmental impact, with the SEC recently outlining proposals* that would require all registrants to disclose their scope three greenhouse...
Despite the difficult economic reset underway in the capital markets and lingering supply chain challenges, rising inflation and the growing threat of a recession, investors are still interested in the food and beverage space, according to one investment...
Fungi-fueled startup firm MyForest Foods (formerly Atlast Food Co) has started commissioning ‘Swersey Silos,’ a new production facility in Green Island, New York, which will start churning out meaningful quantities of mycelium-based meat by the end of...
As consumer interest in ‘plant-based’ products has grown in recent years, so too have products proudly proclaiming their status as such – but what does the term actually mean, and how influential is it really?
Fine chemicals co DIC and San Diego-based startup Debut Biotech are developing a vibrant natural red color that is heat-stable, light-stable, and stable across a wide pH range, using a novel hybrid approach combining microbial fermentation and ‘cell-free’...
As supply chains slowly recover and some commodity prices recede, Kraft Heinz says it will offer more “mutually beneficial” promotions with retailers, coupons and other deals to soften the impact of recent price hikes on increasingly budget-conscious...
The past two years have been a rollercoaster for many food and beverage companies, who have had to deal with everything from a global pandemic to rocketing inflation, labor shortages, and massive disruption across their supply chains. So what does all...
The IFT First 2022 show floor was abundant with companies touting their upcycled ingredients and other exhibitors highlighting plant-based meat and dairy innovation. Take a look at some of the trends highlighted at the show this year.
Two incompatible trends – increasing interest in seafood and climate change – are opening the door for the alternative seafood market, but for this emerging segment to reach its full potential, stakeholders must better align their go-to ingredients with...
