News File – March 17, 2023

Each Friday we’ll bring you a roundup of news from CFIN, YODL and around the food world.

As seen on YODL

Check out this week’s most viewed discussions:

• CFIN Members ABOUND on NPC's Canada's Game Changers List!
• Special Report - What's Ahead for Plant-based Foods in 2023
• New Ventures BC and 30 Under 30 comp

Around the Food World

• CFIN has a new CEO. Read more about Dana McCauley and her plans for CFIN as we enter year two of the organization.
• Plant-based cheese maker Daiya has announced a multi-million-dollar investment in fermentation technology that it says will help the company create a product that is “tastier, meltier, and stretchier.”
• Kraft Peanut Butter has launched limited-edition Welcome Home Jars of peanut butter featuring labels in five of the most commonly spoken languages by newcomers to Canada, as well as other information for immigrants.

Did you Know?

The Hartman Group has published a new white paper called Fermenting the Future: The Growing Opportunity for Products Made with Precision Fermentation, in coordination with Perfect Day and Cargill. The paper covers the results of a survey by the Hartman Group measuring consumer attitudes towards food and technology, as well as interest in precision fermentation. Here’s what the report found:

• 77% of people familiar with precision fermentation say they’re likely to purchase products made with ingredients created through the process.
• The U.S. precision fermentation market is projected to grow to more than 132 million adults by 2027.

• Three in five Americans believe science and technology can make food more sustainable, and 56% say it can make food healthier.
• 52% of consumers say they would significantly change their lifestyle to be more environmentally friendly.
• 60% of Millennials and 55% of Gen Z say they look for food and beverage products from companies that prioritize sustainability and animal welfare.
• After learning about precision fermentation, 85% of Millennials and 84% of Gen Z say they would likely try products containing ingredients made with the process.