Alternative Protein

In 2021, the rapidly-growing plant-based food industry saw several technological advancements across the value chain, ranging from crop optimization to ingredient isolation and functionalization all the way to end product formulation and manufacturing.

During The Good Food Institute’s State of the Industry presentation on fermentation-enabled meat, seafood, eggs, and dairy yesterday, panelists broke down multiple areas of interest including investments, tech innovations and regulatory progress while highlighting its potential to create viable climate solutions over the long term.

As it looks to a commercial rollout of cultivated chicken later this year, pending regulatory review, cell-grown meat, poultry and seafood brand UPSIDE Foods announced $400 million in new funding, bringing its total capital raised to-date to over $1 billion.

Mikuna Foods is looking to introduce Americans to Ecuadorian plant-protein ingredient chocho, announcing today the closing of a $5.6 million seed funding round backed by a “mission-aligned collective of private individuals.” The California-based company plans to use the capital to scale operations, expand its supply network and drive brand awareness.

The International Panel of Experts on Sustainable Food Systems released a new report last week challenging the “silver bullet” sustainability solutions often touted by leading alternative-protein companies. The comprehensive 104-page report, titled “The Politics of Protein,” aims to contextualize eight of the “most contested” and “potentially misleading” sustainability problem and solution-related claims, into the broad realm of the global food system.

CytoSport is expanding its protein offerings this month with Evolve, a new complete line of protein powders, bars and ready-to-drink, shelf-stable shakes. The entire vegan-friendly platform, which contains no gluten, soy, or dairy ingredients, is made with non-GMO pea protein.

Demonstrating the ongoing interest in next-generation food brands, CPG giant Hormel today announced the acquisition of natural nut butter and snack maker Justin’s for $286 million. Justin Gold, Founder of Justin’s, told Project NOSH that the brand admires Hormel’s success and looks forward to learning from the larger company.