Processing Innovations Break New Ground in Edible Insect Market
The world of alternative proteins is buzzing with innovation as Hoppy Planet Foods, a US-based startup, unveils a patent-pending technology that could significantly alter the landscape of the edible insect industry. This breakthrough promises to strip away the earthy color, flavor, and aroma commonly associated with insect-based food, potentially opening doors to high-value human food markets.
Hoppy Planet Foods’ founder and CEO Matt Beck, a veteran with sales experience at PepsiCo and expertise in data and media strategies from his tenure at Google, believes the key to expanding the human nutrition market for insects lies in improving the quality of the raw materials. In conversation with AgFunderNews, Beck shared insights from his discussions with food manufacturers who have previously shied away from insect proteins due to flavor challenges. However, upon presenting Hoppy Planet’s de-colorized, spray-dried cricket protein powder, which boasts a neutral flavor and aroma, manufacturers were reportedly astounded by its potential.
Neutral Color and Taste
Traditionally, the processing of crickets for human consumption involved roasting and milling, resulting in a coarse, dark powder suitable for pet food and animal feed but less appealing for human food products. Hoppy Planet Foods, however, has developed a method using the right combination of acids and organic solvents that maintains the nutritional value of the protein while offering a more palatable form for human consumption. The result is an off-white powder devoid of any distinct taste, vastly expanding its applicability in the food industry.
This innovation could see Hoppy Planet Foods processing for large insect producers or licensing its technology to them, transforming the way insect protein is incorporated into human food applications.
Unlocking a Wider Market
This technological advancement is not just about creating a more acceptable form of cricket protein; it’s about unlocking the potential of a largely untapped market. Beck’s strategy involves leveraging the Hoppy Planet brand, currently retailing in stores like Albertsons and Kroger, and the EXO protein brand, which focuses on e-commerce, to demonstrate consumer interest and acceptance. With minimal marketing efforts, these products are already performing at or above retailer benchmarks.
Beck emphasizes that the quality of the protein, its prebiotic benefits, and its sustainability are resonating with consumers, particularly younger demographics, more than any preconceived ‘ick’ factor associated with eating insects.
Cost and Consumer Acceptance
Addressing concerns about cost and consumer acceptance, Beck notes significant progress. The cost of cricket protein has been halved in the past two years, bringing it closer to the price of whey protein. As for consumer acceptance, the high conversion rates from in-store samples suggest a growing openness to insect-based foods.
Hoppy Planet Foods has achieved cashflow positive unit economics early in 2023, indicating a sustainable business model. With patented intellectual property and a new business-to-business approach, the company is poised for growth and is actively seeking investment for future R&D projects.
Insects in Human Food Applications
While Hoppy Planet Foods focuses on cricket protein, other companies like Vietnam-based Cricket One and Ÿnsect are exploring human food applications with their insect-based products. Ÿnsect has even signed a memorandum of understanding with Korean food company LOTTE to explore the potential of mealworms in human nutrition. Studies suggest insect proteins, such as those from mealworms, could match or even surpass traditional animal proteins in certain health and performance metrics.
The implications of Hoppy Planet Foods’ processing innovation are far-reaching. By addressing the sensory barriers associated with insect proteins, the company is not only expanding the scope of edible insects in the human diet but also contributing to a more sustainable food system. With the global population rising and the demand for protein increasing, such innovations could play a crucial role in meeting future nutritional needs while minimizing environmental impact.