Food and drinks are categorized a defensive industry, as these are primary necessities and tend to perform well even in recessions. A quick recap reminds us that various industries, sectors, and subsectors underperformed due to the pandemic. This did not hold true for the F&B industry. The Global Market revenue stood at a value of $8.3T in the year 2021, an increase of over $500B since the previous year. Experts believe that this revenue figure will continue to grow over the next decade and reach a $12T market by 2027.
Food Industry Trends for 2023
F&B industry is always evolving, from packaging to brand new food products. However, there are certain trends that will heighten the growth of this industry such as the rise of plant based food, internet of things & automation, and vertical farming.
Perfect Day: Changing the Future of the Dairy Industry
Founded in 2014, Perfect Day is the world's first creator of animal-free dairy and protein using microflora. The company creates delicious and sustainable milk protein that makes food taste, look, and feel like traditional dairy. Made completely animal-free, antibiotic-free, lactose-free, and cholesterol-free, the protein designed by Perfect Day could contribute to a greener planet and a more sustainable supply chain compared to the conventional production method.
Rebellyous Food: Chicken Soy-Cost Parity
Rebellyous Foods was founded in 2017 by Christie Lagally, a former Boeing engineer, who soon realized that the plant-based meat industry was being held back because of its limited scope. She saw that with the implementation of better food production equipment and design, the scope could be broadened. Although the company started by producing only plant-based nuggets, they soon expanded offerings to chicken strips and patties, that all taste, smell, and feel like real chicken, without the animal abuse and carbon footprint.
Eat Just: Introducing Plant Based Products to China
Another plant based alternative that is taking the world and (especially) China by storm is Eat Just. Manufacturer of plant-based meat alternatives, the company has just secured $25mm in funding from C2 Capital Partners. This partnership was primarily created to support the brand's strategical efforts, branding, consumer growth, as well as regulatory approach in the country.
Ohza: Ready to Drink
Ohza is a ready to drink mimosa and sangria brand that has experienced tremendous success in the past couple of years. Founder Ryan Ayotte had the idea after a Cape Cod boat ride. Have you ever tried to mix up some mimosas while on a tippy boat? Where everyone else saw a big mess, Ryan saw the solution right in front of his eyes: a RTD mimosa.
List of Recommended Articles
Disclaimer: This Focus List is a proprietary list of the top-5 private companies for which OGCP is currently interested in completing a transaction. This is list based off the various opportunities and demand OGCP has seen for the private companies in the private markets as well as companies OGCP feels are a good investment. Companies on this list are included at the discretion of the author and are subject to change. There is no assurance that any company on the Focus List will be a profitable investment for investors. The Focus List is for informative purposes only and should not be considered as investment advice.
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