ICL expanding its presence in alternative meat market

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ICL, an Israeli minerals and speciality chemicals company, is planning to invest $20 million to expand its presence in the alternative meat market.

Rovitaris is a proprietary technology developed by ICL that supports the production of allergen free plant-based food.

According to ICL, the product has “excellent formability” and can be adapted to virtually any meat, poultry or seafood substitute application to significantly improve taste and texture.

The company said that it expects to invest $20 million to expand its capabilities in the alternative meat market.

Looking ahead, ICL is planning a number of new product launches and line expansions including texture vegetable crumbles.

Ofer Lifshitz, President of ICL Phosphate Solutions, said: “As a market leading technology, Rovitaris enables manufacturers to create the products that consumers demand while expanding their product development to include new exciting applications”.