NETHERLANDS—Südzucker subsidiary BENEO has announced its acquisition of Dutch plant-based ingredients company, Meatless, expanding its existing product portfolio to offer an even wider range of texturizing solutions for meat and fish alternatives.
Increased awareness about the benefits of plant-based food and a decrease in the availability of meat owing to disruptions in the supply chain has caused a huge rise in demand for plant-based products.
The global meat substitutes market is projected to grow from US$5.37 billion in 2021 to US$10.80 billion by 2028, exhibiting a CAGR of 10.48% in forecast period, according to Fortune Business Insights.
BENEO is already responding to this demand with its textured wheat protein that is used as a meat replacer and is produced at the Wanze site in Belgium.
In addition to plant-based proteins, the company’s portfolio includes functional carbohydrates from sugar beet, prebiotic chicory root fiber, and specialty ingredients from rice.
With the acquisition of Meatless, BENEO can now offer its customers a variety of other opportunities to better serve the dynamic growth market of vegan and vegetarian substitute products.
The acquisition marks the latest move by BENEO to strengthen its offering for the plant-based market, and comes after the company unveiled plans for a US$ 52.6 million pulse processing plant in Offstein, Germany.
Andreas Herber, a member of BENEO’s executive board, said: The acquisition of Meatless is the next logical step to reaffirm BENEO’s commitment to strengthening its business with solutions for plant-based alternatives”.
He continued: “BENEO’s raw material expertise and ingredient knowledge, in combination with Meatless’s technology and product portfolio, will provide our customers with a versatile plant-based toolbox for meat and fish alternatives.”
Founded in 2005, Meatless is a manufacturer of textured plant-based ingredients, with a portfolio of solutions derived from a variety of sources, including rice, faba beans, wheat, pea, lupin and quinoa.
Meatless’ products are very sustainable by design. With the production processes achieving a very low carbon footprint, supporting BENEO’s aim to use state-of-the-art production facilities to reduce total CO2 emissions.
“The acquisition will allow for exciting new developments within BENEO’s portfolio, while also supporting the business’ sustainability ambitions,” affirms Herber. BENEO supports customers by providing ingredients that promote a healthy lifestyle in a holistic way.
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