Ingredion is investment $140 million to accelerate the production and expand its portfolio of plant-based proteins to meet increasing global demand.
From 2019, two of the company’s North American manufacturing facilities will produce pea-protein isolates and a range of pulse-based flours and concentrates.
“We’ve identified plant-based proteins as a high-growth, high-value market opportunity that is on-trend with consumers’ desire to find sustainable and good tasting alternatives to animal-based proteins,” said President and CEO Jim Zallie.
“We’re excited by what these investments represent for Ingredion. Being a sustainable and trusted source of plant-based proteins provides us with another major ingredient platform to complement our offerings in clean label, wholesome, texture and nutritional ingredient solutions.”
As more consumers seek plant-based alternatives, the market for plant-based proteins is rapidly growing and extending beyond North America and to sources beyond soy and wheat protein.
The global market for non-soy, gluten-free plant-based proteins is projected to be $1.5 billion by 2022. As a result, manufacturers are looking at plant-based proteins that offer functional, sustainable and nutritional attributes, inclusive of non-GMO and certified organic options.
Tony DeLio, Senior Vice President of Corporate Strategy and Chief Innovation Officer at Ingredion, said: “Meeting the nutritional needs and achieving the right functional requirements will require a broad range of protein alternatives that are sustainable, affordable and great tasting.
“By combining our expertise in product formulation with an expanded plant-based product portfolio, we’re well positioned to deliver a breadth of ingredient solutions for our customers around the world.”