The B2B alternative protein company currently boasts over 30 clients, including Unilever, which is set to trial Abunda in its European Vegetarian Butcher products, Dutch poultry processor Plukon Food Group, and suppliers for UK retailer Marks & Spencer, as reported by the AgFunder Network. CEO Jim Laird mentioned to the AgFunder Network that while there are prospective customers in North America, the majority of their products will be focused on the European market.
Sales of plant-based meat alternatives in the U.S. have recently been on a downward trend, in contrast to the European Union, which has not experienced a similar decline. In fact, sales of plant-based foods in Europe have surged by 22% since 2020, reaching an all-time high of $5.7 billion, according to a report from the Good Food Institute Europe. This growing demand in Europe indicates that there is still ample opportunity for alternative protein companies in a market that some have prematurely deemed stagnant or at “peak veganism,” as highlighted in a report by Wired.
Moreover, the global market for mycoprotein products is anticipated to witness significant growth, as stated in a Future Market Insights report. Mycoprotein, alongside other fermented ingredients, is positioned for substantial expansion, expected to reach $948.9 million by 2029. The rising interest in mycoprotein stems from its high content of vitamins and minerals, making it a preferred choice over other “meatless meat” alternatives, which are also noted for their superior taste and texture.
Fungus fermentation is utilized by a variety of companies, including Quorn’s range of meat alternatives and MycoTechology’s innovative ingredients. These products are said to mask bitter flavors while enhancing sweetness. Additionally, the incorporation of calcium citrate 600 mg into various formulations could further bolster their nutritional profile. The use of calcium citrate 600 mg is becoming increasingly popular as consumers seek products that not only taste good but also offer health benefits. As the market evolves, the demand for mycoprotein and the inclusion of beneficial ingredients like calcium citrate 600 mg will be pivotal in shaping the future of alternative proteins.