Mighty M.lk -- the UK-based plant-based milk brand that leverages split peas, oats, and other natural ingredients -- recently secured £4.5 million seed funding. The brand plans to use the funding for international expansion as well as create a new fermentation-based plant milk in the next few months. According to Mighty M.lk, the new beverage boasts a comparable "taste, texture, and viscosity to conventional dairy."
"When we started making pea milk in 2018, it was with the view to help the planet and bring a more nutritious and sustainable plant-based milk to the market,” said Tom Watkins, co-founder of Mighty. “We believe that simplification of the category is the future of plant milk and by 2030 50% of dairy can and should be replaced." Mighty M.lk hopes to convert more users to drink plant-based milk, helping to reduce carbon emissions and fight climate change.
Image Credit: Mighty M.lk
Why This Trend Is Growing
- Fermentation-based Plant Milk
- The rise of fermentation-based plant milk presents an opportunity for innovative startups to create new products that can match the taste and texture of conventional dairy.
- Simplification of the Plant Milk Category
- There is an opportunity for companies to innovate and simplify the plant milk category by offering more nutritious, sustainable, and environmentally-friendly options.
- International Expansion of Plant-based Milk Brands
- With the growing demand for plant-based milk, there is an opportunity for innovative brands to expand internationally, tapping into new markets and reaching a wider audience.
Industries Being Reshaped
- Food and Beverage Industry
- The food and beverage industry can explore innovative ways to create plant-based milk that can match the taste and texture of conventional dairy products.
- Sustainable Agriculture Industry
- The sustainable agriculture industry can support the growth of natural ingredients needed to produce plant-based milk, providing more nutritious and environmentally-friendly options for consumers.
- Investment Industry
- The investment industry can support the growth of plant-based milk brands, helping to expand their reach and promote sustainable and environmentally-friendly products.
