China Food

Oat milk has become the second largest vegetable milk market share in the United States. Green Monday, a plant based company, has obtained $70 million in financing | foodplus weekly

This is the 137th weekly by foodplus

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Weekly weekly news focuses on the analysis and revision of information to the richness of information. We will collect and review the most noteworthy information of the food consumer goods industry in the past week.

本期Weekly·周报编辑:Turo

Big event & wind vane

In just four years, oat milk has become the second largest plant in the U.S. market

By turo

Source: spins, foodnavigator, IRI

vegetable milk sales from September last year to September this year, source: spins

 

According to the data of spins, a well-known data technology company, between September last year and September this year, the U.S. oat milk market reached 213 million U.S. dollars (the data caliber is small), with a growth rate of more than 300%. Among them, the growth rate of refrigerated products is more than 350%, surpassing soybean milk, becoming the second largest plant based milk in the U.S. market, second only to almond milk.

 

This data caliber only includes conventional hypermarkets (such as Wal Mart) and military procurement, but does not include channels such as e-mall, convenience stores, plant-based stores, Costco, etc., so the actual market size will be much higher than $213 million.

 

In fact, oat milk was born about 30 years ago, but it only appeared on this list in the past two years, with an amazing growth rate. It took only four years to surpass many categories that have grown in the United States for decades, such as soybean milk and coconut milk.

 

When it comes to oat milk, oatly, the pioneer of the category, cannot be ignored. Oatly only entered the U.S. market in the second half of 2016, and then its revenue increased 10 times between 2017 and 2018. By 2019, global sales reached $200 million. Oatly started from the coffee scene, catalyzing the oat milk market in the United States and attracting many big brands, such as Quaker, California farms and silk.

       

Market size of vegetable based foods in the past three years, source: spins & GFI

market size of vegetable based milk in the past three years, data source: spins & GFI

 

Oatly, or the whole oatmeal dairy, is at a very good time. Due to the awareness of health, animal welfare and environmental protection, the overall plant-based food and beverage market in the United States has maintained a double-digit growth rate in the past many years, and the market size will reach 5 billion US dollars in 2019. Among them, the plant-based milk market has increased by more than 70% from 2012 to 2019, and the scale has reached $2 billion by 2019, which is the largest category in the plant-based market in the United States. At present, the growth trend has begun to slow down.

 

In addition to many amazing scene cutting strategies and marketing strategies of oat milk brands such as oatly, oat milk has many endowment advantages. Oat milk has more advantages than other plant dairy products in taste, texture, flavor and health claims. Taking the coffee scene as an example, because oat milk is fuller and closer to the taste and texture of milk, many coffee makers and consumers have abandoned plant dairy products including almond milk and chose oat milk as the product base. In terms of health claims, low allergenicity, low GI carbon water and high dietary fiber also have additional value. In addition, in terms of environmental protection claims, oat milk also has an advantage, with higher yield per unit area of oats, which means less arable land; the water required to make each unit of oat milk is only 15% of that of almond milk.

 

As a substitute for milk, oat milk also has a certain theoretical basis of category in China. If the price can be reduced by optimizing the process, it will have good potential in the long run. According to the food tolerance network, more than 80% of Chinese people are lactose intolerant. Chinese people also have a good habit of drinking plant milk, such as soybean milk, peanut milk, walnut milk and so on. In addition, China’s Vegetarian population is also growing rapidly.

 

In the Chinese market, we do hear the increasing volume of oat milk. In addition to oatly and other foreign brands that have attracted a lot of attention in the coffee circle, there are more and more domestic brands starting to make Oatmeal Milk. Some of them have obtained financing, and some brands with exploration spirit have even launched new beverage products based on oat milk.

 

When capital and brands begin to flow into this category, we should also see the differences in the underlying soil of China’s consumer market and that of Europe and the United States. The ceiling of oatmeal dairy products in China will not be too high until the production process is optimized and the product price can be significantly reduced. At present, oat milk, whose price is much higher than ordinary milk and other plant milk, is doomed to continue to circulate in a small range of consumers in China, and the market volume of fine coffee is also limited, which can not support multiple brands. Animal welfare, environmental protection and other claims can increase the added value of products, but at present, the foundation soil of China’s consumer market does not pay for these added values, let alone become a decisive factor in consumer decision-making. Many foreign brands also see this clearly. Many foreign brands that make great contributions to environmental protection in the European and American markets hardly mention environmental protection when communicating with consumers in China.

Green Monday holdings, a Hong Kong man-made meat and vegetable based company, has obtained $70 million in financing. TPG, Swire and famous singer Leehom Wang are involved in the investment, which will further deepen the international market and the Chinese market

Author: Haifeng

Information sources: Green Monday holdings official website, green common official website, omnipork official website

Green Monday logo, image source: Green Monday official website

 

Green Monday holdings, a Hong Kong based man-made meat and plant-based company, recently announced that it has obtained $70 million in financing, which is the largest financing in Asian man-made meat market. The main investors include TPG’s the rise fund, Swire Group and famous singer Wang Leehom. Other institutional investors include CPT capital, Jefferies group and ng family of Sino group Other individual investors include Wang Leehom and room to read founder, influential investors John wood, James Cameron, Mary McCartney and Susan Rockefeller.

 

This round of financing will be used to strengthen product research and development, provide production capacity and distribution and supply chain capabilities, as well as expand retail network and catering brand cooperation, including the establishment of a factory in Guangdong.

 

The official circular also mentioned the targets within six months, including:

Expand its global business from its current 10 markets to more than 20 markets in Asia, Europe, the Middle East and Africa, and North America to capture market growth potential.

Increase point of sale operations from 20000 today to more than 40000 worldwide.

Open green common flagship stores in strategic locations in China and Singapore.

Become a turnkey partner to promote and accelerate the penetration of plant based options to Asia and beyond.

 

At present, green Monday Holdings has two core businesses, omnifoods and green common. Omnifoods is a food technology company focusing on plant-based artificial pork. Its products include omnipork, omnipork luncheon, omnipork strip and omnieat.

 

Green common is a company integrating retail, distribution and catering, focusing on artificial meat and plant-based diet. It is the distributor of many famous artificial meat and plant-based companies in the Asia Pacific region, including beyond meat, California farms, alpha foods, etc.

 

The huge amount of financing obtained by green Monday holdings this time actually revealed two signals from China’s artificial meat company and the global artificial meat market

① The globalization opportunity of Chinese artificial meat companies is a good opportunity for green Monday. It is located in Hong Kong and has a very good international perspective. Compared with the mainland market, the operation mode of Hong Kong market is closer to the international market.

 

At a higher level, the internationalization opportunities of Chinese food brands are very scarce. As a global market, artificial meat is a brand-new field. If you have international vision and experience, it is a good operation opportunity.

 

② As the artificial meat market is an emerging field, retailers and distributors can play a key role in this market, and its value is highlighted. This is one of the reasons why green Monday can obtain huge amount of financing.

 

If the soaring valuation of beyond meat after its successful IPO in 2019 has affected the entrepreneurial and investment enthusiasm of the Chinese market, then for this year’s Chinese artificial meat market, it is just at the beginning, and there is still a long way to go from germination to market popularization. However, there will also be more and more start-ups entering the market, as well as the presence of large companies.

        

Big company news

康师傅持续发力高端饮用水业务,收购佛山福山矿泉水公司,在华南市场拿下矿泉水生产资源

Author: Hai Feng

Information source: Snack agent, enterprise check

       

Master Kang drinks became the only shareholder of Fushan mineral water, source: Enterprise Investigation

 

According to xiaoshidai, Master Kang has acquired a mineral water company, Fushan mineral water, from Zhangzhou yilaifu. At present, the industrial and commercial changes have been completed, and Master Kang’s beverage investment will become the only shareholder of Fushan mineral water. According to the industrial and commercial information, Zhangzhou yilaifu completed the acquisition of Fushan mineral water in 2014, along with the acquisition of Fushan mineral water mining certificate. The qualification of the mining certificate may be an important reason for Master Kang to buy Fushan mineral water.

 

At present, China’s drinking water market has gradually shifted to the middle and high-end. The rapid growth of Nongfu mountain spring shows this trend. Nongfu mountain spring represents the middle end drinking water: natural water. At the same time, high-end drinking water is also growing rapidly. With many imported brands vigorously expanding the Chinese market and many beverage enterprises entering the high-end drinking water market, it is a sign of high-end drinking water The representative products are: natural mineral water, including Danone, Nestle and other international drinking water giants. Taking Nestle as an example, Nestle recently sold China’s domestic medium and low-end drinking water business to Qingdao beer group, and introduced Puna acqua Panna into China earlier.

 

It also includes Huabin group’s acquisition of wholly-owned Voss and the establishment of a factory in China. The Kunlun Mountain mineral water and Nongfu mountain spring, owned by jiaduobao group, are also entering the high-end drinking water market, including the establishment of a water source in Changbai Mountain, the launch of medium and high-end drinking water, and the acquisition of otakiri springs, a New Zealand mineral water company.

       

Master Kang’s self-cultivation spring products and promotion mood, photo source: Master Kang’s self-cultivation spring micro blog

 

Master Kang launched the brand of natural mineral water in 2018, which has entered the high-end drinking water market. According to the report of xiaoshidai, the water sources of conservation spring are mainly in Changbai Mountain, Huangshan Mountain and Leshan Mountain, which are respectively located in Northeast, central and southwest China of China. The acquisition of Fushan mineral water can supplement Master Kang’s mineral water source in the South China market.

 

As the seller of this time, Zhangzhou yilaifu was an important partner of Master Kang’s beverage business a long time ago. In 2017, elauf spent billions of RMB to acquire the shares of several beverage factories under Master Kang, thus becoming the OEM of Master Kang’s beverage products. The acquisition of Fushan mineral water by Master Kang from Zhangzhou yilaifu can also be regarded as a deep cooperation between the two sides Important embodiment of partners.

 

At present, it is difficult for China’s market to obtain new mineral water mining certificate. For China’s drinking water industry, mineral water qualification is a scarce resource. With the further popularization and growth of natural mineral water, the market competition will be further intensified. Master Kang’s move is to consolidate its competitive advantage in drinking water business.

DuPont and P & G cooperate to develop the next generation probiotics for human health

By: orva

Source: DuPont official website

       

Photo source: Internet

 

On September 21, DuPont human microbiological venture capital announced the establishment of a research partnership with Procter & Gamble (P & G) focusing on the discovery and development of innovative next generation probiotics (NGP), aiming to solve the metabolic health problems of human body. This cooperation will accelerate its development and commercialization, and plan to apply it to dietary supplements.

 

In addition to traditional probiotics, next generation probiotics (NGP) and live biotherapeutic product (LBP) are more advanced concepts in probiotics application. LBP uses bioactive microorganisms to prevent, treat and cure human diseases. In contrast, NGP includes other transgenic bacteria and potentially beneficial symbiotic bacteria in addition to microbial species.

 

Paul Gama, President of P & G’s personal health division, said that as a company focusing on innovation, align, a probiotic brand recommended by doctors and gastroenterologists, also participated in the cooperation to provide probiotic innovation for the next generation of solutions.

Recent developments of food start ups

Hankou No.2 factory launched 0 sucrose low fat Oat Milk Tea

By turo

Source: fbif

       

Oat milk tea products from Hankou No.2 factory, photo source: fbif

 

In September, Hankou No.2 factory, which just announced the completion of over 100 million financing, immediately launched two new products. One was the co branded new product “booooom fried milk steam new soda” and the other was “0 sucrose low-fat oat milk tea”.

 

This oat milk tea uses the popular plant-based raw material oat milk, and mixed with pure tea tea tea bottom, without sucrose, lactose and fructose. At present, the new product has been put on sale in tmall flagship store of Hankou No.2 factory. The activity price is 98 yuan / 15 bottles (the original price marked is 199). This new product has romantic Cherry Blossom flavor and yumetallurgical flavor. Yuzhijinshi (うじきんとききとききとききとききときとききとききとききときき.

 

This product is the Yuanqi milk tea of Yuanqi forest, and uses oat milk instead of milk to make a differential attempt. From the product presentation, price and other elements, we can see that the target audience of this product is not different from that of Hankou No.2 factory before.

 

Oat milk is still in the early adopter stage in China. The concepts of “milk substitution” and “plant-based diet” are still in a small number of circles in China. At this time, taking oat milk as the base to make a product facing the mass market is more avant-garde and exploratory. From the elements of “oat milk”, “0 sucrose low calorie”, “high fiber” and other elements, this product carries the strategic intention of Hankou No.2 factory to carry out healthy expansion in the product matrix.

Investment and financing news

“Super zero” won a round of financing and launched “card controlled cuisine” low card fast food package

By: orva

Information source: investment circle, tmall flagship store

       

“Super zero” product map, photo source: Super zero flagship store

 

On September 24, “super zero” announced that it had completed a round of financing, with Yuanhe origin leading the investment, and joy capital, Yuanjing capital and Huachuang capital were following. Among them, Huachuang capital participated in the pre-A round financing of “super zero” in 2019.

This time, super zero launched “control card cuisine” using traditional Chinese food, including plum dish Dongpo meat rice, spicy chicken rice, stewed pork rice with soy bean, hot and dry noodles, Turkey noodles and other six products. The dish supplier is Meizhou Dongpo. The staple food “rice and noodles” is made or replaced by job’s tears, white kidney beans, konjac rice, oats and other raw materials. Each meal has about 180-280 kcal of heat, which is half or even less of the normal meal.

        

“Control card cooking” product map, photo source: investment sector

 

This is not the first time super zero has launched traditional Chinese food instead of dinner products. In May 2019, super zero launched card burning program products. By providing card burning meal kits, super zero can help people to achieve calorie control and achieve the purpose of reducing fat. At present, this star product ranks first in the category of tmall, with monthly sales of 10 million, and the repurchase rate is 2-3 times that of similar products. As a representative weight management brand in China, “super zero” has been actively changing its products since its establishment for three years. There have been three major product promotions.

 

The first generation products are bullet proof coffee, energy bars, milkshakes and other single products and short cycle combination packages based on ketogenic diet. During the same period, competing products of the same kind represent the ideal fuel series of “animal life”. These products have high internal requirements for consumers. Most of the users are “professional players”. Based on the long-term strict dietary requirements, such groups have high consumption loyalty, but their overall volume is small and the growth rate is slow. The brand image of this period is professional weight management brand.

 

The second generation is based on low-carbon leisure snacks, including food bags, sugar free chocolate, low-carbon snacks and so on. During the same period, competing products include the sugar throwing series of animal life. The target group is extended to young white-collar workers. For the low-cost leisure snack scene, the label changes from “ketogenic” to “low-carbon”, and consumer users expand from professional groups to avant-garde public groups.

 

The third generation is the healthy fast food products represented by the burning card program and the card controlled cuisine. During the same period, the competing products include weight management products such as Dongshi and menthol, as well as the fast food products of wanghong health fast food brands such as Mr. Tang, ramen said, daily cooking and liziqi. It can be seen that both horizontal categories and vertical user groups continue to break the circle to a wider range of users. It is also the first time that it has broken through the brand benchmarking of “animal life” and entered the fast food category. Super zero brand is also expanding from weight management brand to healthy fast food brand.

 

The product form and characteristics of “control card cuisine” provide super zero with user growth space, including sinking market users and convenient fast food users, thus providing the market ceiling of super zero; on the other hand, it provides innovative path reference for subdivided categories of weight management market.

Oat milk brand “wheat Ouye” completed ten million level Angel round financing

By turo

Information source: 36kr, Maimai Ouye tmall store

marketing poster of wheat Oye, image source: General Mills tmall store

 

According to 36 krypton news, oat milk brand “wheat Ouye” recently announced the completion of an angel round financing from Yuanjing capital of 10 million levels.

 

The product of wheat Oye started this year in July this year. Currently, there are two Oatmeal Milk SKU and Oatmeal Milk, which are the main Oatmeal Milk, and the wheat oyee side said that in October this year, RTD oat latte drinks, 0 flavors, 0 sucrose, 0 lactose and 0 preservatives will be launched.

 

A considerable part of the consumption scenarios of animal milk and plant milk are hoarding consumption, which is more consistent with the e-commerce channel. At present, wheat Ouye is also mainly online channel, and e-commerce channels such as Taoxi, Jingdong, Xiaopu and xiakitchen are all sold. In terms of offline channels, regional offline channels, such as some HEMA in Zhejiang and Oatmeal Milk products from wheat Ouye, have been put on the shelves. According to the news from wheat Ouye, some boutique coffee brand channels will be promoted in the follow-up of this year.

 

According to 36kr’s information, at present, the monthly marketing investment of wheat Ouye accounts for 20% – 30% of the on-line turnover. Considering that their main investment expenses are to invest in small red books and small KOL and thousand flour Koc with fans of about 10000, this is a good data.

 

As the technical barriers of oat milk are relatively high in plant milk, the R & D ability of a brand will be the core competitiveness of the brand. Whether the taste and texture can be full and rich, and whether the price can be made down will be the lifeline of oat milk brand. Wheat Oye is an oat milk brand that we have seen in China with a solid R & D team. One of the co founders graduated from food engineering major of Wageningen University in the Netherlands. The team has set up a research and development studio in Chengdu, with a 10 person R & D team.

Chongqing sigongzi technology, the parent company of leisure food brand “sigongzi’s mind”, has obtained an angel round financing of RMB 6 million, which is exclusively invested by Zhulu capital

By San

Information source: Yibang power, fourth childe’s wish, Taobao store, enterprise check

 

Photo source: four childe’s Micro blog

 

According to the news from Yibang power on September 23, Chongqing sigongzi Technology Co., Ltd., the parent company of leisure food brand “sigongzi’s heart”, has completed the angel round financing of RMB 6 million, and the investor is Zhulu capital.

        

The ownership structure of Chongqing sigongzi Technology Co., Ltd

 

According to public information, Chongqing sigongzi science and Technology Co., Ltd. holds and shares in three enterprises, which correspond to three different brands. In addition to the wishes of leisure food brand sigongzi, Nanjing qianlailai science and Technology Co., Ltd. owns a brand of agricultural products with the characteristics of origin “Zui flavor”, while “Nanjing ruifuchang” mainly deals with characteristic agricultural and sideline products and traditional Chinese medicine Materials and other raw materials for deep processing of health care food and supplies. And these three brands all rely on the digital supply chain platform created by the company.

The platform integrates the origin products of more than 100 counties, and constructs a digital traceability supply chain platform from origin to terminal channel around the industrialization of single product. Based on the big data of Commerce, agriculture and channel, the big data model of single product channel sales is built to provide product parameters, breeding data, test reports, market competition and other relevant data for more than 50000 sales channels. According to the channel continuous monitoring and analysis of sales volume, sales volume, interaction rate, return rate and other core data, the channel intelligent matching preferred products, recommend more suitable channel sales products. Let the products of origin more efficient docking channel sales, so that consumers can eat the characteristics of the origin of safe food.

 

At present, sigongzi’s intention is sold through online platforms such as Taobao and duosheng. From the perspective of products, it includes three categories: dried fruit preserves, fried nuts and grains, covering more than 10 SKUs such as “strong little peanuts”, “unrestrained white melon seeds” and “lonely purple crisp”.

     

Four childe’s favorite product map, photo source: four childe’s favorite Taobao shop

 

Generally speaking, the brand has established a certain foundation and characteristics at the end of the supply chain through cooperation with poor counties, local governments and farmers. However, in terms of product packaging and marketing operation, it needs to be strengthened.

The seed round of lyre’s, a non-alcoholic brand, has obtained 9 million euro financing, which is the largest round of financing in the “low alcohol / no alcohol refining” market so far

By Ethan

Information sources: Foodbev, lyre’s official website, the spirits business, beverage daily

       

Photo source: lyre’s website

 

According to Foodbev, Australia’s “alcohol free spirits brand” lyre’s got 9 million euro seed round financing on September 25, the largest round of financing in the “low alcohol / no alcohol refining” market so far. There are many institutions involved in this round of investment, including VRD investment, doehler ventures, DLF ventures and maropost ventures, as well as some family offices in Europe, the United States and Australia. HNWI is also involved in the investment.

 

Lyre’s was founded by Mark livings in 2017. After more than two years of R & D, lyre’s finally launched 13 products in November 2019. It is worth noting that lyre’s does not create new flavors, but imitates the flavors of the world’s most popular spirits and cocktails. The process is made by mixing natural extracts and extracts, not by distillation.

 

In less than a year after its launch, lyre’s products have won 46 medals in many competitions. Among them, apertif Rosso won two gold medals in London liquor competition in 2019, 10 medals in sfwsc on April 23, 2020, gold medal for apertif Rosso and dark can spirit, and silver medal for apertif dry, amaretti, coffee origin and spiced can spirit. In addition, orange sec, dry London spirit, white can spirit and American malt won bronze medals.

                         

Lyre’s products, photo source: lyre’s official website

 

In recent years, in developed countries such as Britain and the United States, “low alcohol / no alcohol” liquor is a hot subdivision track, and lyre’s is just one of the innovation. It is worth noting that Diageo invested in the “non-alcoholic” liquor brand “seedlip” in July 2016. At that time, the company’s first product was only nine months on the market and claimed to be the first “alcohol free” liquor brand. In August 2019, Diageo acquired a majority stake in the company and formally brought it under its management. The deal shows that the liquor giants have been paying attention to the track many years ago and are willing to invest more money.

        

Products of lyre’s seedlip, image source: seedlip official website

 

We believe that the essence of “low alcohol / no alcohol refining” is to innovate in liquor body. In the current domestic market, a similar case can be found, which is jiangxiaobai. It innovates the delicate flavor liquor body, reduces the alcohol content, increases the taste, to meet the needs of consumers in the leisure scene. Moreover, from the perspective of consumers’ demands, there are also commonalities, such as small gatherings, small drinks, health and so on. From this point of view, it is nothing more than that foreign countries have done more extreme in liquor body innovation, reducing the alcohol content to a lower level, even without alcohol, only retaining the flavor of spirits.

 

At present, lyre’s claims to have been sold in more than 30 markets, including New Zealand, the United States, the United Kingdom, Hong Kong, Singapore and China (no relevant products are found online). In terms of channels, lyre’s cooperates with many bars, such as Harbourfront opera bar, rooftop cocktail bar, house of pocket, etc. It is also sold through Dan Murphy’s, Australia’s largest wine supermarket chain, and online through Amazon and its own official website (priced at $35.99, 700ml). According to CGA, the size of the “low & no alcohol” market in the UK increased by about 48% from January 2019 to January 2020. Some consulting agencies even boldly predict that the “low & no alcohol” market share in the UK will account for 1 / 4 of the total alcohol market in 2025.

British Low Alcohol Spirits brand clean liquors completed the second round of financing of 7 million pounds

By Ethan

Information source: the spirits business, clean liquo official website

      

Source: the spirits business

 

On September 24, the British low alcohol and spirits brand clean liquor, established in November 2019, completed the second round of financing of 7 million pounds. The investors include private capital and venture capital, and the transfer of 20% equity this time. In February this year, the company completed a $2 million seed round financing with the investor Lightspeed venture.

 

Although, like lyre’s, the launch time of clean liquor products is very close, and the starting place is also in the UK, and the OEM production mode is also adopted (the partner is a winery named union distillers). However, there are some differences in the choice of products. Clean liquo chooses low alcohol products instead of non-alcoholic products.

 

At present, the company has three series of products:

 

Cleangin series (2 from left to 1 on the right in the figure below) with alcohol content of 1.2, the price is 25 pounds, and a single bottle of 700ml has four different flavors;

Cleanrum series (1 on the left below), alcohol content 1.2, price 25 pounds, single bottle 700ml. The above products will be launched from November 2019 to may 2020, with only 11 calories per 100ml.

       

Clean liquo’s products, photo source: clean liquo official website

 

At present, the can series contains two flavors of gin and rum. The alcohol content is 0.5, and the price is 20 pounds / 12 cans. Each can is 250ml and 62 calories. The series was launched in September this year.

Products of clean liquo, photo source: Official Website of clean liquo

 

In addition, from the perspective of the founder’s background, Spencer Matthews, co-founder and CEO of clean liquor, is a TV star in the UK. He makes a show of made in Chelsea in the UK. Therefore, the early development of the brand can take advantage of Spencer Matthews’ celebrity advantages to expand its sales. This is different from the fact that lyre’s launched its products after years of research and development, and won many awards in the industry shortly after its launch. The entrepreneurial genes of the two companies are also different. Of course, we can’t judge which one is better. After all, the products of the two companies are still different.

 

In terms of market, clean liquor is planning to develop in Singapore, India, the United States, Australia and other overseas markets, which has a high degree of overlap with lyre’s market. Therefore, it is not ruled out that Spencer Matthews benchmarked himself with the latter. At present, the main sales channels of clean liquor are online (Amazon and Sainsbury’s), as well as dunnes supermarket in Ireland. In the future, it will expand to hotel channels.

Plant based chicken brand darling foods won $8 million round a financing

By: orva

Information source: Official Websites of Foodbev and darling

       

Product map of darling foods, photo source: Official Website of darling foods

 

American vegetable chicken brand “Darling foods” has completed a round of financing of 8 million US dollars. The financing funds are mainly used for the business expansion of the brand in retail and catering terminals, and the rest will be used for marketing and staffing.

 

This round of financing is led by maveron, followed by stray dog capital, goodfriends and palm tree crew investments. There are also individual investors such as Mike Smith (CFO of “stitch fix”) and Brian swette (former chairman of Burger King).

 

Darling’s main product is darling pieces, a vegetable chicken slice with clean label based on soybean and sunflower seed oil. It is suitable for frying, barbecue and frying, and can be used in salads, tacos and sandwiches. The product includes original flavor, Calot flavor and lemon vanilla flavor. Each bag is 8-10 ounces (about 223g-283g), containing 13-13g protein, 2G fat and about 90 calories. The price is $29.99. Purchase channels include the company’s official website and retail e-commerce platforms including Gelson’s, Bristol farms and fresh thyme.  

This year, cell meat company Mosa meat has obtained $55 million in round B financing,

By Ethan

Information sources: Foodbev, foodnavigator

image source: Official Website of Mosa meat

 

On September 25, MOSSA meat, a Dutch cell meat company, announced the completion of $55 million round B financing, led by blue horizon ventures, a venture capital fund focused on investing in food technology companies to promote more sustainable food development. Meanwhile, Dr. Regina Hecker, partner of the fund, will join the board of directors of MOSSA meat.

 

One of the purposes of this financing is to expand the team, which is a top priority for Mosa meat. Today, the company employs 50 people and plans to more than double its size. “We’re looking for scientists, engineers, production operators and going further along this route, we’re going to build a sales team,” said Sarah Lucas, the company’s operations director

        

Financing history of moss meat, image source: CrunchBase

 

In addition to expanding the team, another use of the funds will be used to develop industrial production lines. It is reported that the first pilot plant will start operation in 2021. Meanwhile, the first industrial production line will be launched in 2022, and the company plans to open its first large-scale production plant by 2025. “It is predicted that an industrial production line, fully optimized, will produce about 200 tons a year,” says Sarah Lucas.

 

In addition, according to the company, the new investment will also be used for consumer education and will work with regulators to demonstrate the safety of cell beef in order to obtain regulatory approval for the European market. And it plans to introduce its products into the European market in 2022 and launch them on a small scale from selected restaurants.

From a logical point of view, there are currently two mainstream options in the “meat substitution” industry: one is plant meat represented by beyond meat; the other is cell meat like MOSSA meat. Which one will become the choice of mainstream consumers in the future?

 

Judging from the current progress, vegetable meat has entered the stage of small-scale production. Although there are some criticisms on the taste and flavor, the overall market tolerance is still very high, and consumers’ health attributes of plant raw materials are now generally recognized. On the other hand, if we look at cell meat, the progress of commercialization is a little slower, and it is still in the stage of product development and experimental production. And from the perspective of consumer research, the voice of questioning is also relatively large. Researchers at the University of Sydney and Curtin, for example, randomly surveyed 227 people born between 1995 and 2015 and found that 72% of the respondents were reluctant to accept cell meat.

 

Does this mean that the plant meat program is the future? Except that it’s a bit premature to draw conclusions before cell meat is actually on the market. In fact, there is another potential solution that should also be included in our observation, which is “mixed meat”. Under the upsurge of venture capital in plant meat and cell meat, this is a scheme that is easy to be ignored. From the point of view of nutrition, meat protein is more easily absorbed by human beings, and the combination of meat and vegetable is more in line with most people’s eating habits. Although we are not sure which scheme will be the more mainstream choice, it is a field with enough space, and the future entrepreneurship and innovation will be wonderful.

Yooji, a French infant food brand, completed a new round of financing of 7.5 million euro

By Mika

Information sources: Yooji official website, Nordic, ladepeche

       

Image source: Yooji official website

 

Recently, Yooji, a French infant food brand, announced a new round of financing of 7.5 million euro. This round of investors include pymwymic and DS participation, as well as Danone manifesto, a venture capital unit of Danone Among them, Caravelle is a diversified industrial group and family business, while capagro is the first venture capital fund committed to agricultural and food innovation in France. This round of financing funds will be mainly used for brand marketing.

 

Yooji is a French infant organic frozen food venture founded in September 2012 to provide safe, organic and easy to cook healthy alternative food for growing infants and young children. All of Yooji’s products are packaged in ration and customized according to the amount of food consumed by infants of different ages. In addition, it is worth mentioning that Yooji’s products are shaped like small pebbles of frozen mud, and each bag contains several pieces, so parents can freely choose to match with the baby’s food. The raw materials of all products come from organic farms and are made in France. The products are salt free and additive free. They are now available in many offline stores in France. The sales target for this year is 20 million euro (equivalent to about 160 million yuan).

       

Image source: Yooji official website

 

Yooji’s product line is divided into four series of frozen food: Vegetable stick, fruit puree, vegetable puree and meat puree, which mainly covers infants and young children aged over 4 months, 6 months, 9 months and 12 months. The vegetable purees for infants over 4 months were mainly single vegetable puree and mixed fruit puree, including 9 SKUs such as carrot, mung bean, sweet potato, apple, banana and cinnamon mud. For infants over 6 months old, they began to provide puree products of single meat such as beef, COD, chicken, salmon, etc.; while for infants over 9 months old, vegetable puree was mainly mixed vegetable and fruit puree, such as eggplant potato mixture, broccoli potato mixture, etc. In particular, Yooji has expanded the new product line of vegetable sticks for infants over 12 months old. At present, Yooji’s products have entered many offline retail channels including chronodrive.

DTC spice brand completed $4.7 million financing

By Mika

Information sources: spiceology official website, cision, William read

Source: spiceology official website

 

According to foreign media reports, the US DTC seasoning brand spiceology has recently completed a $4.7 million financing. This round of financing is led by ty Bennett, the founder and CEO of jacent, a US retail channel service provider. The company was acquired by private equity firm gridiron in 2019. The investors are Cowles company, kickstart funds and several other angel investors. This round of financing funds will be used to optimize the company’s business automation process in Washington state, increase production capacity and expand brand influence.

 

Spiceology, founded in 2012, is a DTC company that mainly sells condiments. At present, its main sales channels are official website and Amazon. Its products cover more than 300 kinds of condiments such as spices, salt, fruit and vegetable powder, and the product matrix is very rich. From the perspective of product packaging, spiceology products have a sense of design and a certain brand tone. In terms of product research and development, spiceology cooperates with professional chefs to ensure better taste configuration of products, and they also recommend recipes with spices to customers according to different products. Currently, 40% of the users of spiceology are professional chefs and restaurants.

       

Source: spiceology official website

 

In addition, spiceology’s products have not only achieved innovation in product packaging form, but also introduced condiments for specific disease groups in terms of product innovation. In cooperation with the National Kidney Foundation of the United States, they launched a series of salt free mixed flavor products specially developed for people with kidney disease or hypertension this year, including 13 products to meet the special healthy diet needs of people with specific diseases.

 

Spiceology’s annual revenue in 2018 was $3.2 million, an increase of 100% over the same period last year. The annual revenue in 2019 is expected to be $6 million, especially the sales in the fourth quarter of last year accounted for about 65% of the whole year. At the end of last year, spiceology was named one of the fastest growing private companies in the United States by business week.

Food technology industry and company trends

This section is a new one in weekly. In this section, we will collect the R & D and application of world’s leading food technology and the trends of related companies, aiming to capture some early trends driven by technology.

Scientists in Singapore have developed a way to print dairy products in 3D

By turo

Information sources: RSC advanced, Foodbev, foodnavigator

     

This 3D printing method of products, image source: Foodbev

 

In the past few years, 3D printing technology has been gradually applied in the food and beverage industry. For example, Israel’s redifine meat produced plant meat through plant formula and 3D printing. The company received $6 million in financing last year and announced that the product would be launched on a large scale next year. Recently KFC has also cooperated with 3D bioprinting solutions from Russia to produce 3D printed chicken nuggets.

 

Previously, 3D printing technologies, such as selective laser sintering and hot melt extrusion, need to be operated at high temperature. One of the major disadvantages of these technologies is that high temperature will destroy the temperature sensitive nutrients in “ink”, such as calcium, vitamins and protein in milk, which will be denatured in the process. Although there is also a cold melt extrusion technology that can print products at a temperature that does not destroy nutrients, this technology has very strict requirements for various technologies and conditions, so it is difficult to operate.

 

According to a recent paper published in RSC advanced, a research team from Singapore University of technology and design has realized a technology of 3D printing dairy products with milk as ink at low temperature without additives by changing the fluid conditions of ink. This technology has given 3D printing technology more imagination space in the food and beverage industry.

Brightseed, a start-up, uses AI technology to extract super nutrients from plants

By turo

Source: fooddive, foodnavigator


source: brightseed

 

Brightseed was founded in 2017 and its main business is to use AI platform to discover unknown nutrients and flavors in plants. According to fooddive, brightseed received a $27 million financing in September, led by Lewis & Clark agrifood.

 

This year, due to the elements of the epidemic, consumers have begun to pay more attention to food health, which has contributed to some rising trends, such as functional diet and plant-based diet. Brightseed has benefited from the outbreak to some extent, and their business volume has increased significantly since the outbreak in 2020.

 

Brightseed’s business has also attracted many heavyweight partners, such as Danone, which announced a partnership with brightseed in June this year. In addition, Indra Nooyi, a former PepsiCo CEO, and the former CEO of whole foods worked with brightseed as consultants.

Some interesting new products

Delta

Yili yogurt official account in September 21st announced a new yogurt product: Erie times Hwan, which is a sports yogurt for sports people. The main product is high protein, CECT8145 patent probiotics, no sucrose, and the erythritol is used, the net content is 150g. Each bag of yogurt contains 10g protein, the product is low temperature yogurt, the shelf life is 21 days, and the price is not yet announced. At present, the product has not yet come into the market, through Yili good yogurt app to recruit new product experience. (source: Erie yogurt official account)

 

       
     

Delta

Wangwang food launched nut stick products, which is another major food company to launch the corresponding products after Mars introduced the American snack stick brand kind into the Chinese market. Wangwang nut stick is included in its fix × body brand, which is a sub brand launched by Wangwang for fitness and slimming people in 2019. Wangwang nut stick has three flavors, namely cocoa black Qiao, original sea salt and comprehensive berry fruit. The net content is 30g. At present, the price of Wangwang tmall is 12 yuan / root, while that of Wangwang Jingdong store is 19.5 yuan / root. (source: Wangwang tmall store)

 

       
     

Delta

Cass yogurt has recently launched a low-temperature yoghurt with seven probiotics, including original flavor, strawberry and banana. The seven probiotics are Lactobacillus bulgaricus, Streptococcus thermophilus, Lactococcus lactis subsp. Lactis, Lactococcus lactis subsp. Lactis, Bifidobacterium lactis, Lactobacillus acidophilus and Lactobacillus paracasei. The main products are not added except raw milk There was no addition of lactic acid bacteria, sugar and fruit pulp. At present, the products have been launched in CASS tmall flagship store. The price of 24 cups is 149 yuan, with an average of 6.2 yuan per cup. (source: CASS tmall store)

 

       
     

Delta

Z natural foods, a Florida based food company, has launched an alternative milk shake with 30 super foods. The product is called optim 30 complete nutrition Blend, these 30 super food ingredients include coconut milk and other plant proteins and super berries, as well as turmeric, ginger, various medical mushrooms, microalgae and other ingredients, which are rich in antioxidant, amino acids, vitamins, minerals and other plant ingredients. The retail price of the product is $59.99 for 15 bags, and the net content of each bag is 454g. Z natural foods has also launched a number of functional powder products, most of which are packaged in aluminum foil bags and can be stored for two years. (source: Foodbev)

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