Heura Reaches Profitability Amid Europe’s Plant-Based Slowdown

Spanish alternative protein startup Heura Foods reached positive EBITDA in the first quarter of 2026, marking a major milestone for the European plant-based food sector at a time when the category continues to face slowing demand and investor pressure. According to AgFunderNews, the company achieved operational profitability after scaling back expansion in Northern Europe and concentrating on faster-growing Southern European markets.

Founded in 2017 by Marc Coloma and Bernat Añaños, Heura adopted a more disciplined business strategy over the past two years, prioritizing profitability over aggressive international growth. The company is now exploring partnerships to manufacture white-label products for retailers and brands in markets where it does not directly compete.

According to AgFunderNews, Heura generated flat revenues of €38 million in 2024 and did not disclose total 2025 figures. However, the company reported growth in Spain despite a contraction in the broader plant-based meat category, which declined 7% year-over-year.

“While the category declined overall, we are reversing the trend and gaining momentum within the market,” Bernat Añaños said, according to AgFunderNews.

The company credited part of its performance to a stronger innovation pipeline. During 2025, Heura launched five new products, and two of them quickly entered the list of the top 10 best-selling SKUs in Spain’s plant-based category.

Añaños highlighted the company’s Original Burger as one of its strongest-performing products. “It is generating 41 times more revenue per SKU than the category average, significantly outperforming the rest of the market,” he said, according to AgFunderNews.

Heura’s leadership believes the company’s profitability milestone represents more than an internal achievement. The startup described the result as evidence that plant-based food businesses can still achieve sustainable growth despite the sector’s recent slowdown across Europe and North America.

Moving forward, Heura plans to reinforce its market leadership in Spain while continuing expansion in Portugal, Italy and France. The company also intends to accelerate growth through licensing agreements and manufacturing partnerships outside Southern Europe.

“Our strategic focus continues to be Southern Europe,” Añaños explained, according to AgFunderNews. “That is also one of the reasons why we are opening our manufacturing capabilities and technology platform to partners in other geographies, including Northern Europe.”

The company believes that sharing its production technology with other brands and retailers could help accelerate adoption of plant-based foods while creating additional revenue opportunities without directly increasing commercial risk.

Heura’s strategy reflects a broader shift within the alternative protein sector, where startups are increasingly prioritizing operational efficiency, regional focus and scalable product portfolios instead of rapid expansion fueled by venture capital.

The European plant-based category has faced slowing growth over the last two years as inflation, changing consumer habits and stronger competition affected demand. Against that backdrop, Heura’s profitability milestone positions the company as one of the few foodtech startups in the sector currently demonstrating sustainable financial performance.

The company now aims to combine profitability with measured international growth while strengthening its position in the evolving plant-based protein market.