14 December 2018 | News | By NFS Correspondent
Ingredion, a leading global provider of ingredient solutions to diversified industries, has announced several steps to accelerate production of plant-based proteins globally. The combined $140 million of strategic investments will further position the Company with an expanded, broad range of plant-based protein solutions to support increased global demand. As a result, two North American manufacturing facilities will produce pea-protein isolates and a range of pulse-based flours and concentrates in 2019.
The Company has also entered into a joint venture agreement with Verdient Foods, Inc., a Canadian company based in Vanscoy, Saskatchewan, jointly owned and operated by Oscar winning film director James Cameron and Suzy Amis Cameron and a local Saskatchewan family office - PIC Investment Group. Investments are being made within the existing facility to make pulse-based protein concentrates and flours from peas, lentils and fava beans for human food applications.
An increased number of consumers are switching to plant-based diets for many reasons, including: protecting animals, preserving the environment, general health concerns or changing taste preferences. As more consumers seek these 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.