October Recap + 🔮 2024 Food Trends Forecasts Are Here

In this issue, I share some real estate news, funding highlights, and some food trend predictions (sorry!) forecasting for 2024.

Enjoy!

REAL ESTATE HIGHLIGHTS

Four months after closing a $4 million seed round, Denver-based food tech startup bitewell has moved its headquarters to a 14,000-square-foot space in Denver’s River North Art District. The new space is almost 15 times larger than the company’s previous space and allows it to nearly quadruple its headcount. (Source: The Business Journals)

NOTABLE PARTNERSHIPS, PRODUCT LAUNCHES, AGREEMENTS, AND FUNDINGS

Meati makes its move into the growing plant-based snack category. The launch of jerky products comes after Beyond Meat unveiled shelf-stable products, heating up competition in the plant-based market. (source: FoodDive)

Wanda Fish Technologies Ltd., a FoodTech startup company that formulates cultivated fish, has secured $7 million in seed funding. The funding round was led by Aqua-Spark. The funding will enable the company to accelerate creation and scale cultivated whole-cut filet of bluefin tuna. To formulate the cultivated fish, the company is forming a 3D filet structure using bluefin tuna cells, which are differentiated into both muscle and fat tissues. This enables the company to control fat levels in its end products, the company said. (source: FoodBusinessNews)

Startup bagel brand PopUp Bagel has closed an $8 million Series A funding round. The round will fund future growth and expand the company’s executive team. The funding round was led by New York City-based equity firm, Stripes. Last year, the company also received funding from Hollywood producer and food concept investor, John Davis. That funding enabled the company to expand its retail footprint in Greenwich, Conn., and Greenwich Village. (source: BakingBusiness.com)

Cultured oil startup Zero Acre Farms, a creator of cultured cooking oil, is partnering with Shake Shack and Hopdoddy Burger Bar to replace soybean oil in the fryers at a dozen restaurants. Founded in 2020, Zero Acre Farms is backed by a group of investors and chefs, including Lowercarbon Capital, Fifty Years, S2G Ventures, Collaborative Fund, Virgin Group, Chipotle's Cultivate Next Fund, Robert Downey Jr.'s FootPrint Coalition Ventures and others. (source: FoodBusinessNews)

2024 FORECASTS

📈 I got a kick out of this magazine quality annual ingredient trend forecasting report from ADM. The report can also be found here, along with a synopsis with some more insights. Overall takeaway: ADM projected bold colors and flavors — along with a desire for affordability and wellness — will 🍞 new products in the food and beverage space in 2024.

📊 One more trends report: Whole Foods Market Forecasts Top 10 Food Trends for 2024. This report was more of an article, and although it lacked the pizzaz of the ADM, it was easily digestible (no pun intended).

WHAT I’M CONSUMING (AND ENJOYING!)

👩‍🍳 I don’t know about you, but I love a good interview that includes an origin story. Plus, I love dessert. So, it’s no surprise I enjoyed this Food Dive interview with Milk Bar chef and CEO Christina Tosi.📈

🍞 Not exactly food business news, but if you’ve ever wondered about the color of your bread tags, here’s your guide and then some.

Thanks for reading.

If you have any feedback or suggestions, we’d love to hear them.

Erik Stiebel
Founder and Vice President
CA DRE License #02080746
(c) +1 424.241.4795
[email protected]