If you’re an adventurous eater or simply interested in staying updated on the rapidly evolving food tech industry, here’s a summary of TechCrunch stories and noteworthy news that we couldn’t cover in detail:
Plant-Based Proteins Thrive in Foodservice: The Good Food Institute recently shared insights on the use of plant-based proteins in foodservice. Here are the key takeaways:
- Strong Growth in 2022: Sales of plant-based proteins by U.S. broadline distributors reached $304 million in 2022, marking an 8% increase from pre-pandemic levels in 2019.
- “Meat-Like” Products on the Rise: Analog plant-based proteins, which closely replicate the taste and texture of animal-based meat, constituted 53% of pound sales in 2022, up from 39% in 2019.
- Repeat Buyers: Consumers of plant-based meat tend to be high-value customers, making around 30 more visits to foodservice establishments each year and spending roughly $400 more than the average buyer.
- Taste Remains a Challenge: Several plant-based companies have been working on improving the taste, including Black Sheep Foods, Rebellyous, Planetarians, Chunk Foods, and the ISH Company.
Enough Raises €40M: Mycoprotein producer Enough secured €40 million ($43.5 million) in funding to double its production capacity. The Scottish company believes its technology and scalability will set it apart in the field of producing protein from mushrooms.
Meatable Raises $35M: European company Meatable received $35 million in funding to advance its cultivated pork products. They’ve managed to significantly reduce production time to eight days using their technology and large-scale production capabilities, with 500-liter bioreactors and 80 million cells per milliliter growth rate.
