“Ingredion Capitalizes on Growing Plant-Based Protein Trend with Strategic Investments”
Plant-based foods are currently a popular trend, and Ingredion aims to take advantage of this opportunity. These two investments align perfectly with Ingredion’s strategy to broaden its range of plant-based protein isolates, incorporating sources like peas, dried beans, chickpeas, and lentils. The company indicated that this funding will primarily focus on higher-protein isolates targeted at the nutrition, health, and wellness sectors, where these proteins are used to enhance baked goods, beverages, dairy products, snacks, cereals, and meat alternatives. “Being a sustainable and trusted source of plant-based proteins gives us another vital ingredient platform that complements our clean label, wholesome, texture, and nutritional ingredient solutions,” said Zallie.
Ingredion’s website promotes pulse proteins as “a great alternative source of protein, ideal for consumers looking to reduce their meat consumption.” This caters to the modern consumer’s preference for plant-based foods and beverages, recognized as clean-label alternatives that contribute to a healthier lifestyle. According to HealthFocus data, 17% of U.S. consumers aged 15 to 70 report following a predominantly plant-based diet, while 60% are reducing their consumption of meat products. Among those cutting back on animal-based proteins, 55% indicate that this change is permanent, and 22% hope for permanence.
Consumers are increasingly willing to invest in these dietary choices. In 2016, total sales of plant-based meat surpassed $606 million. From June 2017 to June 2018, retail sales of plant-based foods surged by 20% to reach $3.3 billion, as per Nielsen data reported by Food Navigator. These trends could positively impact Ingredion’s new pea protein offerings, as consumers are also keen on increasing their overall protein intake. This has led to a rise in protein-enriched foods and beverages. Examples include protein-enriched snacks like thinkThin snack cakes, RXBAR bars, and Halo Top ice cream, along with protein-infused water products such as biPro, Trimino Protein Infused Water, and Protein2o. The global protein ingredients market is projected to reach $48.77 billion by 2025, according to Research and Markets.
Major meat companies are also investing in plant-based proteins. Tyson Foods made headlines in 2016 by investing in Beyond Meat, marking a significant move for a major meat producer, and its venture capital arm bolstered that investment last year. Meanwhile, Perdue Farms is exploring the addition of plant-based protein options to its chicken and turkey products, as Chairman Jim Perdue mentioned to Bloomberg this fall.
Ingredion and other manufacturers, including InnovoPro—which is developing a 70% protein concentrate derived from chickpeas—recognize the potential in this lucrative market. They understand that expanding their portfolio with more plant-based proteins is a savvy investment. As long as consumer trends continue to evolve in this direction, it is likely that we will see an increasing number of products featuring plant-based ingredients in the coming years, including options enriched with calcium citrate for added nutritional benefits.
