Plantwise Weekly Issue #6
"Vegan" labels not welcomed, Plant-based eggs set to explode, Hari&Co got acquired, and much more
📖 About us: We are a UK startup with a mission to empower a healthier, sustainable future through plant-based transformation. Plantwise meal-planning app 📲 helps users leverage AI to create personalised plant-based dishes with food on hand.
📣 First, a small announcement
In the coming weeks, I plan to re-strategise the newsletter offering through effectual thinking. This means utilising our broader strengths (not just limited to plant-based knowledge) to offer something much more unique.
The new version could be completely different to today’s newsletter in terms of frequency, style, and content. It may not be a “news”letter at all. And It may initially be initially too frequent, too chaotic, or wandering too far off the map. But I believe this is the exercise we have to do to unlock our full potential.
🍔 'Vegan' and 'Plant-Based' Labels Deter Consumers, Study Finds
📚 TL;DR: A recent study commissioned by dairy-free cheesemaker Julienne Bruno revealed that 'vegan' and 'plant-based' labels might be discouraging UK consumers from choosing eco-friendly food options. The poll, which involved over 2,000 adults with various dietary preferences, found that 45% of participants would order more sustainable dishes if the ingredients were simply listed rather than labelled 'vegan' or 'plant-based'. This includes 40% of meat-eaters, 55% of pescatarians, and surprisingly, 54% of vegans themselves.
🧩 Context: The study indicates that many consumers are not necessarily attracted by vegan or plant-based labels. More than two in five participants admitted to disliking the term 'plant-based', while 32% shared similar views towards the label 'vegan'. A similar study published in the journal Appetite also concluded that when food was labelled as 'vegan', students were significantly less likely to choose it. However, the vegan option was often preferred when it wasn't labelled as such, suggesting that removing vegetarian and vegan labels from menus could help guide US consumers towards reduced consumption of animal products.
➡️ More on this story here.
🔬 Plant-Based Egg Market Expected to Reach $9 Billion by 2030
📚 TL;DR: The plant-based egg market is projected to surge from $1.99 billion in 2022 to an impressive $9.02 billion by 2030, according to a recent report by Data Bridge Market Research. While North America currently leads in plant-based egg consumption due to health consciousness, product innovation, and sizeable investments, the Asia Pacific region is predicted to have the highest growth rate.
🧩 Context: Health concerns are the primary motivator for consumers choosing plant-based eggs, according to research by ProVeg. Key selling points of plant-based eggs include being cholesterol-free, carrying no risk of salmonella, and suitability for those with allergies. There's also a growing appreciation for the sustainability benefits and concerns about factory farming. The start of 2023 saw egg shortages due to avian flu leading to a spike in egg prices, pushing more consumers towards plant-based alternatives. JUST Egg capitalized on this by running a US ad campaign stating, "Plants Don't Get the Flu," and reported receiving "incredible feedback."
➡️ Read more about the research here here.
🏭 Finnebrogue Boosts Plant-Based Growth with Factory Investment
📚 TL;DR: UK manufacturer Finnebrogue is investing £2.8m ($3.6m) in the upgrade of its three-year-old plant-based food factory. Despite challenges in the UK's plant-based sector, Finnebrogue has shown confidence in the future of the plant-based industry, with its meat-free output increasing three-fold in two years.
🧩 Context: Finnebrogue is a co-manufacturer and supplier of plant-based food to UK supermarkets for their own-brand purposes. This investment acts as a beacon of hope for the UK plant-based sector, following recent struggles such as the Meatless Farm entering administration. This Northern Ireland-based company predicts that its overall revenue will exceed £200m this year, up from £188m last year.
➡️ Read more about Finnebrogue’s move here here.
🌾 Avril Group Acquires Majority Stake in Plant-Based Food Manufacturer Hari&Co
📚 TL;DR: France-based agri-food company Avril Group has purchased a majority stake in plant-based food maker Hari&Co. Hari&Co's founders and directors, Emmanuel Brehier and Benoît Plisson, will remain on board with minority shareholdings. This acquisition strengthens Avril Group's position in the growing plant protein market.
🧩 Context: Hari&Co sells a variety of plant-based food products including veggie burgers and meatball alternatives, with more than 5,000 sales points in the French retail channel. Apart from its significant presence in France, Hari&Co also has a foothold in Italy, supplying over 250 stores. This acquisition follows Avril's strategic focus on plant-based products, which was exemplified by their acquisition of Soufflet Alimentaire, a supplier of rice, legumes and chickpeas, last year.
➡️ Read more about Avril Group's acquisition of Hari&Co here.
🔬 Algae: The Secret Weapon for B12 in Vegan Diets
📚 TL;DR: Research by Cambridge University scientists suggests that algae could be the solution for supplementing vitamin B12, a vital nutrient missing from plant-based diets. Algae, aquatic organisms that lack roots or stems, show a unique ability to accumulate B12, making them a potential source of this essential vitamin. With vegan diets providing only 10% of the B12 found in a standard UK diet, algae-based supplements could be a game-changer for plant-based nutrition.
🧩 Context: As the popularity of vegan and vegetarian diets rises, so too does the risk of vitamin B12 deficiency among their followers. B12 is crucial for blood and nerve cell production, and a lack of it can lead to muscle weakness, weight loss, fatigue, and in the long run, diseases like pernicious anaemia, heart disease, and diabetes.
➡️ Read more about the Cambridge University’s finding here.
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