Page 27 - Retail World Magazine Jan/Feb 2021 TOB

“With QSRs such as Hungry Jack’s leading the way in introducing the v2 plant-based Rebel Whopper to Australian consumers, plant-based food is steadily moving from a niche into the mainstream. “At v2, we’re on a mission to feed the planet in a way that takes care of the planet by making plant-based meat not only delicious, but also accessible, easy to use and affordable.” The journey so far In October 2019, just nine months after the business was formed, v2food launched its debut product, the Rebel Whopper, in more than 400 Hungry Jack’s outlets across Australia. Despite disruptions caused by Covid-19, 2020 wasn’t a quiet year for v2food. By November 2020, the business is said to have become Australia’s leading plant- based meat company. Last year, v2food rolled out its v2mince and v2burger products at leading supermarkets across Australia, including Woolworths, Coles and Drakes. The business also secured contracts to supply to Burger King in New Zealand, the Philippines and Japan, with more countries set to launch in 2021. As Covid-19 restrictions are lifted, v2food is pushing further into restaurants and cafes across the country with its v2burger and v2mince products appearing as options alongside beef menu items. The business has also received significant funding, with its $35 million series A funding in November 2019 followed by series B funding of $77 million in October 2020. “These numbers are significant milestones in that they represent the opportunity for v2food to continue our rapid growth, scaling up our production capacity and make delicious, nutritious, sustainable plant-based meat alternatives available to consumers across Australia and the world,” v2food CEO Nick Hazell said. The brand’s successes in 2020 were recognised with a number of industry awards. Honours included winning the Plant-Based Meat category at Product of the Year and the CSIRO Entrepreneurship Award. The product The v2food mission to create a sustainable “version two” of meat is core to how the business produces. “We know that the most important attribute of food is taste, which is why “At v2, we’re on a mission to feed the planet in a way that takes care of the planet by making plant- based meat not only delicious, but also accessible, easy to use and affordable.” v2 products have been designed to look, cook and taste like meat so that consumers don’t have to compromise on the meals they know how to cook and love to eat,” Mr May said. “Plus, unlike other plant-based meats, v2 has been priced comparatively against the equivalent animal protein because we don’t think consumers should have to pay more when making a better choice for themselves and the planet.” Mr May added: “Thanks to the R&D expertise and collaborative partnership with CSIRO, the launch of v2mince and v2burgers is just the beginning as we work towards our goal of sustainably feeding our growing population in a way that takes care of our planet.” The year ahead In 2021, a key goal for v2food will be developing its Australian-made supply chain. “We’ll shortly be able to unveil the plans and progress on our new factory in rural Australia that’ll help super-charge our production,” Mr May said. The business is also expected to expand into further supermarkets and QSRs in Australia and across Asia. “After the success of Rebel Whopper in Hungry Jack’s, v2 have their eyes firmly set on partnering with leading QSRs nationally, to continue to bring plant-based meat consumption to the mainstream,” Mr May said. This is much the same for Asia, with v2food exploring distribution and retail partnerships with supermarkets and QSRs. In January, the company launched v2sauages, a product said to be “expertly crafted” with a mixture of soy protein, coconut oil, onion, garlic, thyme and parsley. For a limited time only, v2sausages will be available at select Coles nationwide at $9 for a pack of eight. Into the future It’s “imperative” that plant-based meat isn’t just aimed at vegans, believes Mr Hazell, otherwise, the world will never see the kind of behavioural changes required to make a “massive” difference to the planet. “At v2food, our goal is not to end all meat consumption at the dinner table, but \\\[to\\\] recognise that we all need to reduce our intake as a global population,” he said. “Sustainability will be the priority and the challenge for all protein producers into the future, whether they’re animal or plant based, and we look forward to being part of the transformation taking place in Australia’s agriculture industry as we continue to transition towards more sustainable production and consumption practices. “As we scale up our supply chains and factory capacity, we’re excited to be contributing to an additional opportunity for Australian agriculture, creating a new market that could add $6 billion to our economy by 2030.” BRAND PROFILE JAN/FEB, 2021 RETAIL WORLD 25