The Vertical Farming Bubble Is Popping, FDA Redefines ‘Healthy’ + More

                             Image Credit: Fast Company

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 last few months have experienced a shift in the market. Startups that were once overvalued by investors are now being pressured to meet their demands for profitability. This has proven difficult for many brands across all food sectors, and especially true in the realm of vertical farming, where companies are struggling to turn a profit on lettuce. In the CPG space, thousands of people will be descending upon Expo West this week and on the lookout for the brands that will make it or break it in the cutthroat industry.

In other news, we are excited to spotlight 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.

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1. Defining and Scaling Regenerative Agriculture – Part 1 – New Food Order

We explore philosophies of regeneration and ask our guests how they define regenerative agriculture, how we can make sure regenerative farms are actually doing what we need them to, and how do we support farmers while they make the transition?

2. The Vertical Farming Bubble Is Finally Popping – Fast Company

Climate change might make growing produce indoors a necessity. But despite taking in more than a billion dollars in venture capital investment, most companies in the industry seem to be withering, unable to turn a profit on lettuce.

3. FDA Is Redefining ‘Healthy’ and Food Industry Is Pushing Back – Washington Post

Less saturated fat, less sodium, less added sugar; manufacturers say almost no packaged foods would qualify under the agency’s new rules.

4. A Make-or-Break Food Trade Show – Forbes 

The food industry is cutthroat, and Expo West is a proving ground. Chloe Sorvino will be on the lookout for entrepreneurs who are succeeding against the odds as well as the brands that had exhibited in the past and have since called it quits.

5. Soy, Oat and Almond Drinks Can Be Called Milk, FDA Says – New York Times

Plant-based beverage makers hailed the agency’s decision but objected to the recommendation for labels to specify the nutritional differences with cow’s milk.

6. Meati Predicts $1B in Retail Sales in Five Years As It Rolls Out Nationwide at Sprouts – AFN

Meati is seeking to differentiate itself from others with a fungi-based platform capable of producing whole cuts of alternative meat from mycelium.

7. Aleph Farms Strikes Deals in Singapore and Israel to Advance ‘Asset-Light’ Approach to Scaling Cultivated Meat – AFN

The startup has acquired a facility in Israel and related assets from VBL Therapeutics, enabling it to produce larger quantities by late 2024. It should now be able to start production in Singapore in 2025.

8. Miyoko’s Creamery Lawsuit: Case Filed By Plant-Based Dairy Company Against Founder – Green Queen

Plant-based dairy company Miyoko’s Creamery has filed a case against founder Miyoko Schinner alleging breach of contract and company IP misappropriation.

9. Millions Could See Cuts to Food Stamps As Federal Pandemic Aid Ends – Washington Post

For low-income households enrolled in the program, known as SNAP, the cuts could reduce their benefits by an average $182 per month.

10. Nearly Three in Four Consumers Plan to Keep Buying Private Label When the Economy Settles – Food Dive

Manufacturers’ and retailers’ efforts to improve store-branded offerings are paying off, as shoppers make price their most important consideration.

11. The Many Ways AI & ChatGPT Will Disrupt Food Tech – Green Queen

From crop and livestock monitoring to supply chain optimization, a list of use cases for AI across the food tech supply chain.