Alt Proteins - Half Year Review

It’s the last week of June, so, like many of you, I’m taking stock. Here’s where we are at

Plant-Based Meat: Sales-wise, the situation is not looking great. The category continues to lose market share in the US and the UK, while in Asia and the rest of the world, growth is non-existent. Some bright spots in a few European markets, but overall, the UPF narrative and a resurgence of beef/animal protein demand continue to drive shoppers away. Couple that with the dearth of investors and we are seeing a LOT of consolidation Since the beginning of the year, there have been over a dozen closures and acquisitions (and that’s just what’s announced publicly, and we very much expect this to continue. On the product side, we see two main trends: 1) ‘whole food’ formats like VegChop emerging and clean-label companies like Actual Veggies gaining ground; 2)

Cultivated Meat: Despite a notable lack of funding, which is crucial for a deep tech certical that requires, cultivatd protein companies are racking up the regulatory wins in 2025 with both Mission Barns and Wildtype earning US FDA approval for their fat and their salmon respectively, and Vow getting the greenlight to sell its cultivated quail in Australia and New Zealand this week. We are also expecting another company's regulatory approval next week in another market, so stay tuned. At the same time in Trumpland, US states are banning the sale of cultivated meat left and right. We now stand at 7 official bans (Texas is the latest) and 20 more on ballots.

Fermentation Proteins: This is undoubtedly the hottest vertical in the alt protein sector with consistent, solid deal flow and wins on price and scalability. There’s a push from key Big Food players to decarbonize their supply chains, and many fermentation protein startups offer attractive solutions.

My interview with Mike Grunwald of ‘We Are Eating The Earth’ is up—don’t miss this, and if you work in food and climate, read the book! Investors, especially: it’s packed full of maths you need to know.

Finally, so excited to announce that we ended with over 388 applications for the Climate Feed Fellowship. Now, we just need to wade through them 😆!

 -Sonalie

💡 Green Queen Exclusives

🍄‍🟫 Exclusive: Mycelium Meat Startup Libre Foods Acquired by Biomanufacturing Firm Planetary
Spanish mycelium meat firm Libre Foods has sold its brand, IP, and key assets to Swiss fermentation manufacturer Planetary. Here’s how it will help advance fungi-fermented protein production across Europe.

🧫 Exclusive: Clever Carnivore Plans 2026 Cultivated Pork Launch with Industry-First $0.07/L Media Cost
US startup Clever Carnivore has achieved industry-leading cost reductions for its cultivated pork, which it hopes to begin selling in the country next year. Here’s how it did it, and what’s next.

🌏 Interview: Are We Eating The Earth?
An interview with award-winning author Michael Grunwald about his groundbreaking new book that exposes how flawed land-use math is derailing climate progress and argues that even eliminating fossil fuels won’t save us unless we fix food production’s massive emissions.

✅ Must-Read Headlines

🇦🇺 Sydney-based Vow received regulatory approval to sell cultivated meat in Australia and New Zealand, becoming the first company to do so.
💡Its Japanese quail, sold under the Forged brand in concepts like parfait and foie gras, will begin appearing on dozens of restaurant menus in the coming weeks.

💶 Netherlands-based Rival Foods secured €10 million to scale its range of whole-cut plant-based meats, which contain minimal ingredients and high amounts of protein.
💡The minimally processed, additive-free products are specifically designed to address consumer concerns about ultra-processed foods.

🇺🇸 US health secretary Robert F Kennedy Jr has pledged to cut red tape and maintain the country’s biotech leadership, despite the rollback of a Biden-era biomanufacturing mandate.
💡Could the Make American Biotech Accelerate focus extend to food tech – and particularly alternative proteins, which have come under threat from state-level bans, a lack of investment, and the UPF discourse?

🤝🏼 British cultivated pork startup Hoxton Farms has teamed up with Japan’s Mitsui Chemicals, which has also joined as an investor in the startup.
💡They will work together to expand biomanufacturing, cultivated fat, and other cell-based ingredients across Asia-Pacific, spotlighting Asia’s biomanufacturing leadership.

🇨🇦 Canadian whole-cut plant-based fish maker New School Foods has expanded into plant-based beef under a new entity, NS/TX Industries.
💡It will be able to operate both as a producer and as a manufacturing partner to other companies, offering its scaffolding process and directional freezing technology to those looking to experiment and scale up without having to build from the bottom up.

🥛 Malaysian plant-based dairy firm Pure Mylk has opened the Mylky Way, described as Southeast Asia’s first dedicated innovation centre for plant-based milk, to help companies bring dairy-free beverages to market.
💡As Pure Mylk founder and CEO Marcus Khoo puts it: “This was never about competition – it’s about collaboration.” Plus, by supporting ambient-stable production, the hub reduces the reliance on cold-chain dependency

🆕 New Innovation & Launches

🌬️ US food innovators Alamance Foods and Savor have teamed up with Italy-headquartered neuroscience firm Thimus to create a first-of-its-kind whipping cream that is palm oil-free and made from air.

🐟 Slovenian plant-based meat maker Juicy Marbles has teamed up with Austrian mycoprotein firm Revo Foods to launch a whole-cut cod alternative tailored for the US market.

😋 Snack giant Doritos has teamed up with food tech startup NotCo to launch co-branded vegan products with the iconic Flamin’ Hot flavour in Chile.

🇳🇱 Dutch supermarket Albert Heijn has introduced 15 blended products, combining meat and dairy with plant-based ingredients, marking the largest such rollout of blended proteins yet.

🥞 Diner-style chain Denny’s rolled out a Plant-Based Breakfast Slam at all its locations in the US, bucking the trend of the wider restaurant industry.

📚 Key Research

💯 Researchers at US startup Wisecode have created a new scoring system to classify ultra-processed foods, describing it as a “nuanced” alternative to the existing Nova classification.

🗺️ A new map by RA Capital Management and the Nature Conservancy uncovers ‘the true impact’ of agriculture on Earth’s systems, and why it’s the most overlooked opportunity to improve public and planetary health.

🚀 Everything Else In Future Food

🇪🇺 EIT Food’s RisingFoodStars, an EU-backed programme to help agrifood tech startups scale up, announced 16 members for its 2025 cohort.

🚫 Texas Governor Greg Abbott has made the state, which is the country’s largest beef producer, the seventh in the US to ban the sale of cultivated meat. He has also ordered an investigation into ultra-processed foods.

📉 British plant-based milk firm Mighty Drinks has entered administration, citing rising costs and fundraising challenges, with its future now hanging on a rescue deal.

📝 Regional government leaders, activists and stakeholders have signed a declaration calling on UN member states to create national plans to promote healthy and sustainable diets.

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🌱🍔  Future Food Quick Bites 

In our weekly column, Future Food Quick Bites, we round up the latest news and developments in the alternative protein and sustainable food industry. This week, Future Food Quick Bites covers Violife’s protein-packed Cheddar alternative, Petaluma’s plant-based dehydrated dog food, and the EU’s vegan labelling war.

📆 Scene & Heard

Made & Grown: The Future of Food Is Coming To Australia

🇦🇺 Cellular Agriculture Australia, in partnership with the Agrifood Innovation Institute, is bringing the future of food to Canberra on 21st August. Made & Grown: The Future of Food will place the spotlight on the biotechnologies shaping our food system. Early bird pricing ends June 30. Learn more and register now.

🇺🇸 The Gordon Research Conference: Foods of the Future, taking place in January 2026, is now accepting applications! For the first time, this highly selective bi-annual conference will focus on food; don’t miss your chance to secure your spot.

🚀 Applications are open for the Climatebase Fellowship, the climate career accelerator designed to help ambitious mission-driven professionals supercharge their careers in climate. Learn more and apply here.

🇦🇺 The International Symposium on Food & Feed Extrusion on 7th and 8th August will bring together industry, academia and research leaders to explore the latest in extrusion technology. This two-day event will feature an engaging program of keynote presentations, technical sessions, industry booths and networking opportunities. Sign up here.