Image Credit: Green Queen
Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.
The UK has become the first European country to approve lab-grown meat, starting with Meatly, a cultivated chicken pet food product. Meanwhile, innovation in the global food and beverage industry has dramatically declined, with only 35% of new CPG launches in 2024 being genuinely new products, marking the lowest rate of innovation since Mintel began tracking in 1996.
In other news, we’ve wrapped the first season of our podcast in partnership with AgFunder: New Food Order, a nuanced investigation into the business of tackling our climate and social crises through food and agriculture. Read all about why we launched the podcast, and be sure to subscribe and share!
Our newsletter takes a lot of time and resources to produce. Make a one time or monthly contribution to help us keep it going. Whether it’s $5 or $500, every bit helps and shows us that you value our work.
1. UK First European Country to Approve Lab-Grown Meat, Starting with Pet Food – The Guardian
Regulators approve Meatly pet product, cultivated chicken made from growing cells, the world’s first for pet food.
2. Food and Beverage Innovation Plummets Nearly 50% in 2024 – Nosh
Only 35% of global CPG launches spanning the food, drink, household, health and beauty industries in 2024 have been genuinely new products – the lowest rate of innovation since Mintel began tracking new products in 1996.
3. The State of CPG – Elly Truesdell
There has been a major shift in enticement from investors and retailers – now more cynical – and we’re coming down from an intense high. It can’t be overstated just how much of a hangover we’re experiencing.
4. Republican Plans for Ag Policy May Bring Big Changes to Farm Country – Civil Eats
Project 2025 and the Republican Study Committee budget both propose major changes to how the government supports commodity farmers. They might face strong opposition from ag groups and their farm constituents.
5. The World’s Largest Mozzarella Producer Bags Global Rights for Fooditive’s Animal-Free Casein – Green Queen
US cheese giant Leprino Foods has signed an exclusive licensing agreement to commercialize the precision-fermented casein produced by Dutch startup Foodtive Group.
6. BevNET & Nosh Insider Benefit: Q2 Data Report in Partnership with FABID – BevNET
Despite three previous consecutive quarters of increasing investment, Q2 saw a marked decline, tempering excitement and confidence in a VC rebound.
7. ADM Targets 5M Acres of Regenerative Farmland by 2025 – AFN
ADM has transitioned more than 2.8m of its acres to regenerative agriculture in partnership with more than 28k growers.
8. US Government Issues First-Ever National Strategy to Combat Food Waste – Green Queen
The White House has introduced a national strategy to fight the US’s mounting food waste problem, which includes extending the shelf life of products and upcycling foods into other commodities.
The post UK Approves Cultivated Meat in Pet Food, F&B Innovation Plummets 50% in 2024 + More appeared first on Food+Tech Connect.