The Americas
Plant-based meat sales on the decline, but still beating pre-pandemic numbers
Plant-based meat sales are declining but remain higher than pre-pandemic levels, according to a new report by Circana. In 2023, sales of vegan meat and seafood fell by 12%, driven by higher costs, reduced investments and consumer concerns over ultra-processing. But despite a 19% drop in chilled meat alternatives and a 7% decline in frozen options, the market is still ahead of 2019 levels, with $1.1bn in sales compared to $856m pre-Covid. Brands including Beyond Meat and Impossible Foods have seen growth, with the report suggesting the industry needs to invest in innovation and define value for consumers to sustain interest in the sector.
HungryPanda secures $55m to expand in North America
HungryPanda, a food-delivery app focused on the Asian diaspora, has raised $55m to grow its business. The refinancing and fundraise will help the company “explore new opportunities to serve a broader range of minority ethnic communities,” according to a press release published on Monday. Founded in 2017, HungryPanda operates in more than 80 cities in 10 countries. CEO Eric Lui said, “With this new funding, we are poised to accelerate our expansion into North America, elevate our services, and continue to champion the richness of Asian food culture on a global scale.”
Asia Pacific
South Korea plans $75m initiative to rehome dogs ahead of 2027 dog meat ban
South Korea will help rehome almost half a million dogs bred for food and give dog farmers subsidies and incentives to help them prepare for a ban on the practice set to take effect in early 2027, the agriculture ministry said on Thursday. In January, parliament passed a bill to ban the eating and selling of dog meat, ending the controversial centuries-old tradition. Park Beom-su, vice agriculture minister, said the government would spend about 100 billion won ($75m) on incentives for dog breeders, farmers and restaurants to encourage them to shut their businesses.
Aussies outraged at fan-run Crumbl Cookie pop-up event
Australian fans of viral US cookie brand, Crumbl Cookies, were outraged when a Sydney pop-up event selling the cookies was found not to be run by the company, but by fans who had flown the cookies over from America to resell them. Some described the event as ‘deceptive’ with one calling it ‘straight up fraud’. In a statement to 7NEWS.com.au one of the organizers of the pop-up said he did not obtain permission from Crumbl to host the event, but that if Crumbl were to send them a cease-and-desist, they would comply immediately. In its bio, the TikTok account @crumblsydney states the owners are not endorsed by Crumbl and are just ‘fans importing’.
Europe, the Middle East and Africa (EMEA)
Sodexo eyes acquisition of US rival Aramark
Sodexo is exploring a potential acquisition of its US rival Aramark to grow its presence overseas, Bloomberg News reported on Wednesday. The French catering firm had been periodically discussing the deal with food and facilities management provider Aramark in recent months, the article said. However, there is no guarantee that the talks will lead to a deal, with the report also stating that a potential deal could face antitrust scrutiny. Sodexo would also need to secure the funds for such a sizable acquisition, the report added.
Chick-fil-A set to launch in the UK
Chick-fil-A will open its first locations in the United Kingdom in London, Leeds, Liverpool and Belfast, the chain announced on Wednesday. The chicken chain also said it will invest $100m into its UK expansion over the next 10 years to establish its first major market outside North America. In the first two years of its UK operations, Chick-fil-A will open five stores, with the brand’s initial expansion into the UK set to create around 400 new jobs at licensed and franchised restaurants. Chick-fil-A plans to supply its UK units with chicken sourced from the UK as well as 100% free range eggs raised on farms with welfare certification.
Elly Earls
