Page 31 - Food & Drink Magazine April 2021

PLANT-BASED SECTOR
“ It’s the need for plant-based protein that means this isn’t a fad, it is not a trend, it is so much more than that. This is an absolute necessity for feeding humanity on the planet and I don’t say that lightly.”
of premium Tasmanian food and beverage products.
“I’m very consumer driven, so we looked at the trends and identified where we needed to be. The plant-based food category is the fastest growing in the world, and super exciting because no two products are being produced to the same recipe. Growth for plant-based cheeses is currently in the plus-20s, it’s gone ballistic.
“Younger generations are focused on making the world a better place. Our focus is on encouraging people to adopt a flexitarian diet.”
Cooper’s comments echo those of Unilever Foods & Refreshment Division president Hanneke Faber. In late 2020, the global company announced its Future Foods Initiative. At its core is a $1.63 billion sales target for plant-based meat and dairy alternatives within the next five to seven years.
Faber said: “It’s not up to us to decide for people what they want
to eat, but it is up to us to make healthier and plant-based options accessible to all. These are bold, stretching targets which demonstrate our commitment to be a force for good.”
Job says the health motivators are one of reasons plant-based meats are increasing in popularity is the format they’re available in.
“Plant-based meat offers consumers a really convenient alternative to help their animal meat reduction journey. The familiar formats of burgers, mince, and schnitzel help them try plant products in a non- threatening way,” she says.
DEMAND GROWS FOR AUSTRALIAN MADE Cooper says part of Pure Foods Tasmania’s success is its positioning as a premium Tasmanian product.
He says, “We have rocketed a lot quicker than many expected we would. It was all about
timing. We were going to market to raise capital before listing in March. COVID-19 had just gone berserk and we’re in Sydney with a 12-page presentation. The best I ever got to was page six. Generally, by page two, brokers and investors were saying, how much do you want. We were only going to raise $4 million, and we raised $8 million in four and a half hours – we had to give
$4 million back.
“It was about the provenance,
food safety and the traceability of our food.”
King says, “Australia can build a multi-billion-dollar plant-based meat industry, enabling our food businesses
CLOCKWISE FROM FAR LEFT: The plant-based protein produced by ProForm Foods is the result of 15-years research and has a
4.5 Health Star Rating; Fënn Foods’ retail brand vEEF was in supermarkets within a year of launching; v2foods launched in 2019 and has capital raised more than
$77 million.
www.foodanddrinkbusiness.com.au | April 2021 | Food&Drink business | 31