Singaporean food tech startup, Prefer, is making its mark in the Australian market with its innovative ‘bean-free’ alt-coffee products. The company recently announced its expansion into Australia and New Zealand through a strategic partnership with The Coffee Ferm, which will help scale up local manufacturing and distribution using Prefer’s unique flavour IP.
Established in 2022, Prefer focuses on creating sustainable and affordable flavours and ingredients from byproducts of food manufacturing, like rice and soy. Through a specialized fermentation and roasting process, Prefer has managed to replicate the taste and functionality of traditional coffee and cocoa while significantly reducing the carbon footprint associated with these products.
The company caters to a wide range of clients, including FMCG brands, food manufacturers, private label retailers, and flavour houses, showcasing the versatility and appeal of its bean-free coffee alternatives.
Prefer’s recent collaborations have further solidified its position in the market. The startup successfully introduced its bean-free coffee products in the foodservice sector in partnership with Singaporean food business, Melvados. Additionally, a strategic alliance with Ajinomoto Thailand has paved the way for sustainable coffee beverage innovations in Thailand.
Prefer’s growth trajectory received a significant boost with a successful fundraising round that raised US$4.2 million, attracting investments from prominent venture capital firms like At One Ventures and Chancery Hill Capital, along with continued support from Forge Ventures.
Looking ahead, Prefer aims to expand its production capabilities by partnering with toll manufacturers in key markets, intensify research and development efforts to enhance cocoa flavour offerings, and broaden its global footprint with a particular focus on the Asian market.
The company’s commitment to sustainability and innovation underscores the shifting landscape in the food and beverage industry, where consumers are increasingly seeking eco-friendly and ethically sourced alternatives. Prefer’s bean-free coffee products not only cater to this demand but also highlight the potential for unconventional ingredients to disrupt traditional markets.
As Prefer ventures into Australia, it is poised to introduce a fresh perspective on coffee consumption, challenging conventional norms and setting a new standard for environmentally conscious brewing methods. With its unique approach and growing network of partnerships, Prefer is well-positioned to make a lasting impact in the competitive coffee industry.
📰 Related Articles
- GWM’s Cannon Alpha PHEV Disrupts Australian Market with Competitive Pricing
- Cadillac Unveils Luxury Electric SUVs for Australian Market Expansion
- Amazon’s Same-Day Grocery Delivery Expansion Disrupts Market Dynamics
- Volvo Introduces Rugged EX30 Electric SUV for Australian Market
- Thailand’s Tourism Revival Targets Chinese Market Expansion