Alternative proteins are trending and have marked serious growth in vegan product development. Companies are looking to generate growth across the food value chain by widening their product offerings and strengthening their production capabilities. Some agreements, collaborations, and partnerships by key alternative proteins manufacturers are as follows:
- In February 2022, ADM partnered with InnovaFeed (Paris), an insect producer for animal and plant nutrition, to further expand into the sustainable pet food industry. This partnership was aimed at advancing ADM’s position in the emerging insect protein space.
- In November 2021, ADM and the Asia Sustainable Foods Platform, a wholly-owned company of Temasek (Singapore), signed an agreement to launch a joint venture in Singapore and the wider Asia-Pacific region. This agreement enabled the company to serve the fast-growing demand for microbial-based alternative protein.
- In November 2021, Tate & Lyle announced a five-year distribution partnership with Nutriati, an ingredient technology company, to distribute the company’s chickpea protein and flour.
- In May 2021, Unibio (Denmark) and Protelux (Russia) signed a partnership agreement to expand the commercial production of sustainable protein.
- In May 2021, Unilever PLC (U.K.) partnered with U.K.-based food-tech company ENOUGH (formerly 3F BIO) to bring new plant-based meat products to market.
- In August 2020, Burcon NutraScience Corporation’s joint venture company, Merit Functional Foods Corporation, partnered with Bunge Limited (U.S.), a leading international agribusiness and food company. As a part of this partnership, Bunge Limited invested $30 million in constructing Merit’s state-of-the-art plant-based protein production facility in Manitoba, Canada, where it will produce, under license, Burcon’s novel pea and canola protein ingredients.
- In April 2020, Sun Chlorella Corporation (Japan) signed an agreement to provide nutritional support through Chlorella and in-house products to improve the performance of athletes by providing nutritional support.
- In January 2020, Roquette Frères signed a multi-year pea protein supply agreement with Beyond Meat (U.S.). This supply agreement was aimed at increasing the volume of pea protein to be supplied by Roquette to Beyond Meat over the next three years.
- In December 2019, International Flavors & Fragrances (U.S.) and DuPont (U.S.) signed an agreement for the merger of IFF and DuPont’s Nutrition & Biosciences (N&B) business. The combination of IFF and N&B was aimed at enabling the companies to become leading ingredients solutions providers with a broader set of capabilities to meet customers’ evolving needs.
- In June 2019, Cargill partnered with InnovaFeed SAS (France), a biotech company that produces insect protein. This partnership brought sustainable and innovative feed options to the animal nutrition industry.
- In May 2019, Calysta (U.S.) collaborated with Thai Union Group PCL (Thailand) to offer their first commercially farmed shrimp fed with protein produced using natural gas.
- In April 2019, Axiom Foods partnered with Univar Solutions (U.S.) to distribute its plant-based portfolio in the U.S.
These growth strategies enabled companies to strengthen their geographical footprints and manufacturing & distribution capabilities, fulfill the growing needs of global innovative and vegetarian food formulators, and strengthen their competitive positions in the market. Hence, the increasing number of collaborations, agreements, and partnerships showcase the numerous growth opportunities for vendors operating in the alternative proteins market.
Meticulous Research®, in its latest publication on the ‘Alternative Proteins Market,’ states that the global alternative proteins market is expected to reach $36.61 million by 2029, supported by a CAGR of 12.4% during the forecast period of 2022–2029.
Get Research PDF with Full Toc of Alternative Protein Market by Type (Plant Protein [Soy, Wheat, Pea], Insect Protein [Crickets, BSF], Microbial Protein [Algae Protein, Bacterial Proteins]), Application (Food & Beverages, Animal Feed and Pet Food, Nutraceuticals) - Global Forecast to 2029 @ https://www.meticulousresearch.com/download-sample-report/cp_id=4985
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