Agri-holdings company Feel Foods is planning to move into the breakfast foods market. Vegan bacon and eggs are the first product ideas being floated. The company specialises in acquiring or developing plant-based brands. It owns Plantastic Foods, Black Sheep, Be Good and Plenty-Full.
The recent acquisition of British Columbian Plantastic Foods allowed Feel Foods to bring Black Sheep into its portfolio. A vegan cheese manufacturer, it makes cow-free dairy products from almond and soy. It is now being touted as the potential developer of a vegan scrambled egg, thanks to initial mock-up pictures of a ‘plant-based scramble’ displaying the Black Sheep logo.
The most important meal of the day
Feel Foods has created a multifaceted plant-based portfolio, featuring cheeses, cakes, Asian-inspired ready meals and meat alternatives. It has allowed for a good market presence throughout Canada and the U.S., something it plans to increase now that Plantastic is on board.
New product development is on the agenda. In addition to the purported bacon and egg launches, Black Sheep has been instrumental in the creation of whipped cream. It is due to be rolled out via the foodservice industry and a network of distributors, pending successful testing.
Now turning its attention to the growing plant-based breakfast sector, Feel Foods is zeroing in on trends, not just covering all bases. “Breakfast segments of the plant-based foods industry are currently experiencing meteoric growth and we are aiming right at it with the imminent launch of our new eggs and bacon plant-based products,” said CEO David Greenway in a company statement. “We feel these traditional breakfast items are part of a fast-growing segment of the plant-based movement and are highly complementary to our Black Sheep Vegan Cheezes and whip product.”
Nothing has been confirmed about potential bacon and egg lines or product ranges yet.
The quest for vegan bacon and eggs
Bloomberg recently reported that plant-based bacon sales have increased 25 percent, overtaking its animal counterpart’s growth for the same period. This equated to a £267 million market value in 2020. The findings revealed that distaste for meat processing facilities was largely credited with making consumers reach for animal-free alternatives, alongside newfound price parity. The demand for plant-based bacon has resulted in an influx of brands entering the market.
Earlier this month California-based Hooray Foods announced it has raised $2.7 million in a seed extension round. Funding is being used to scale production of its vegan bacon, for growth in the U.S. and Canada. Meanwhile, in the U.K., THIS continues to target die-hard cured meat fans with its THIS Isn’t Bacon. Made from soy and pea protein, the rashers are sold in more than 2,000 shops throughout the country.
Not to be left behind, plant-based eggs have also come a long way. Berlin-based Perfeggt recently announced it will be launching its animal-free eggs in 2022, following a successful fundraising round. The fava bean-based liquid egg will be available in limited European countries initially, before wider roll out later in the year.
The Every Company revealed that it is hoping to develop egg alternatives using precision fermentation. It recently completed an oversubscribed Series C funding round, bringing in a further $175 million for product development. This brought total funding to date to $230 million.
Lead Image courtesy of Unsplash.