IFFCO Launches “GCC’s First 100% Plant-Based Meat Venture” in UAE
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IFFCO Group has announced the launch of THRYVE, claimed to be the Gulf Cooperation Council (GCC’s) first 100% plant-based meat venture.
IFFCO is an international UAE-based group that manufactures and markets FMCG brands such as Noor, Rahma, Al Baker, Hayat, and Savannah. The company plans to commission its first plant-based meat factory by early 2023, accelerating the shift towards sustainable and healthy food sources.
Investing in the future
THRYVE will be an innovative plant-based food hub that aims to develop, manufacture, and market a sustainable, healthy plant-based meat and alternative foods portfolio. The venture plans to blend new food research and technology with local cuisine and deep-rooted traditions to create products tailored to the region’s demand for sustainable foods.
“Our plant-based venture launch is guided by IFFCO Group’s vision, ‘Investing in the Future,’ where building a resilient and sustainable food chain is fundamental. We have embarked on our journey by investing in cutting-edge food technology and are committed to catalyzing a sustainable shift in the food system in the Middle East,” said Andrey Dribny, CEO-Culinary at IFFCO Group.
The UAE plant-based market
Business Wire reports that the UAE meat substitutes market is expected to grow with a considerable CAGR through to 2028. Increasing awareness regarding personal health and well-being is driving market growth.
Several initiatives in the UAE are now working on alt proteins. In 2021, Sprout, a children’s plant-based food startup, raised USD 200,000 in funding from Bahrain-based FA Holding. That same year, one of the UAE’s biggest supermarkets, Spinneys, launched the Power of Plants initiative to encourage customers to adopt a more sustainable and healthy diet.
“Our actions today impact how we can THRYVE™ tomorrow. IFFCO’s action today is to seed a movement of change towards healthier, more sustainable eating in the Middle East and spark a local, regenerative, greener food value chain. THRYVE is on a mission to restore a balanced cycle by inspiring people to express their abundant love for and desire to nurture themselves, their loved ones, their communities, and the planet,” said Valeria Krynetskaya of IFFCO Group.