OWYN lands investment to accelerate growth in plant-based protein beverage space
08 Jan 2020 --- Plant-based protein products brand Only What You Need (OWYN), has announced a growth investment round led by PowerPlant Ventures (PowerPlant), who joins existing investors Clearlake Capital Group (Clearlake) and Halen Brands. Excelling in the plant-based space, OWYN aims to use this investment to bolster its growth, as the brand prepares to expand further into the conventional grocery channel next year. Investment details have not been disclosed.
“We are proud of what OWYN has accomplished to date and remain committed to providing consumers with great-tasting protein beverages that provide the nutrition and sustainability benefits of being 100 percent plant-based. This investment comes at the right time as we expand our go-to-market resources to capitalize on our rapid growth trajectory,” explains Mark Olivieri, President of OWYN.
The OWYN RTD beverages are chockfull of protein.In the first quarter of 2020, OWYN expects to expand in the drug store channel with CVS stores across the US. In addition to its planned new accounts, OWYN is enhancing its placements in its existing retail partners, including Sprouts, Whole Foods and Vitamin Shoppe. OWYN also has a growing presence online through its website, as well as through Amazon and other online retailers.
Clearlake acquired OWYN two years ago in partnership with Halen Brands, a better-for-you food and beverage brand investor. Arta Tabaee, Managing Director at Clearlake, regards OWYN’s success in evolving into a thought leader in functional, plant-based nutrition as demonstrative of what Clearlake’s partnership with Halen Brands can bring to brands.
“The OWYN team has done a fantastic job leading the industry as one of the fastest-growing protein brands in the natural channel. We look forward to building on our partnership with the Clearlake, PowerPlant and OWYN teams to further disrupt this category,” Jason Cohen and Leigh Feuerstein, Co-CEOs of Halen Brands add.
Plant-based protein NPD
The brand’s flagship plant-based protein beverages contain only all-natural ingredients and are free from the top eight allergens. The beverage line uses a proprietary blend of flax, pea protein and pumpkin seeds as a protein source instead of the whey protein typically used in protein drinks.
The beverage line arrives in different flavors to satisfy a wide range of consumers' taste preferences.OWYN drinks are shelf-stable and contain approximately 20 g of protein, less than 4 g of sugar and under 180 calories per serving. OWYN currently offers its protein beverages in six flavors, including Dark Chocolate, Cold Brew Coffee, Smooth Vanilla, Cookie N’ Cream, Turmeric Golden Mylk and Strawberry Banana. The brand also recently expanded its line to include meal replacement shakes in Chocolate and Chai flavors.
The plant-based protein drink space is booming with innovation. Remedy Organics, a US producer of functional wellness drinks, launched a ready-to-drink (RTD) beverage called Golden Mind. Its blend of almond milk, docosahexaenoic acid (DHA) omega 3 medium-chain triglycerides (MCT) oil, turmeric, ginger, maca and prebiotics tap into a growing market for plant-based protein-rich drinks.
From protein-rich oats, nuts and seeds to spices and botanicals, functional drinks brand OATH launched a range of four RTD beverages in the US that boast functional benefits and memorable flavors. Harmless Harvest’s plant-based protein and coconut drinks are made with a blend of pea, sunflower and pumpkin proteins. These NPD launches point to how protein continues to star as a key macronutrient in healthy lifestyles and how numerous the market opportunities are within this space.
Edited by Anni Schleicher
