USA – Cargill has signed a joint venture with PURIS, producer of pea protein to accelerate pea protein production for North American and global markets.
According to the company, PURIS cultivates a spectrum of pure, plant-based foods and ingredients from U.S.-based organic and non-GMO sources.
“Cargill is excited to expand into the emerging pea protein space while continuing to support our conventional agricultural crops.
It’s clear that PURIS is in alignment with Cargill’s vision to meet the growing demand for protein globally and to help customers deliver label-friendly products without sacrificing taste,” said David Henstrom, vice president, Cargill Starches, Sweeteners and Texturizers.
According to Cargill, PURIS’ end-to-end sustainable food system ensures a wholesome journey from seed to solution making PURIS a global source producer of plant-based, non-GMO sustainable food ingredients to promote healthier eating through practices that are safe for animals & the environment.
The partnership with Cargill will benefit every link in the chain of production: flavourful and nutritious choices for people, profitable opportunities for growers, flexible ingredients for food makers, and practices that nourish soil, the environment, and life on earth, says Cargill.
With Cargill’s support, PURIS aims to become a significant player in the pea protein in the industry, which is projected to grow to US$200 million by 2023, according to Global Market Insights Inc., a research company.
“Increasing consciousness about health issues is foreseen to lift pea protein market over the forecast time frame,” says the report.
“Extensive usage in the food and beverages industry due to benefits like functional attributes and appealing nutritious profile ought to drive growth.
Growing popularity among consumers owing to its cost effectiveness over other alternatives will further escalate pea protein market demand. Increasing vegan population and high nutritional profile will further fuel the market,” says the report
In European nations, food and beverage applications will be driven by rising awareness about food sensitivities and desire to avoid genetically modified ingredients. This has led to consumer inclination towards pea proteins against its counterparts.
Cargill’s move follows similar companies’ investments into the pea protein space.
Ingredients solutions company Roquette in early 2017 unveiled its investment in a 400 million Canadian dollars plant in Canada, which the company says is the largest investment in such a plant in the World, to tap rising demand.
Cargill says that consumers are opting for alternative sources of proteins in products that have great taste and simpler labels to address their preferences and choices.
Pea protein offers a non-GMO, Certified Organic, allergen-friendly option that checks all the boxes consumers are looking for in label-friendly products.
Cargill’s combined effort with farmers, customers, governments and communities will help PURIS thrive by applying their insights and 150 years of experience.
“Cargill’s financial backing and market reach will power significant expansion of our operation globally.
We will add substantial capacity, including a second plant, while maintaining our focus on U.S. production,” said PURIS President Tyler Lorenzen.
“Cargill is investing in everything PURIS stands for, from our vertically integrated non-GMO pea seed development to our proprietary technologies and our commitment to U.S. Certified Organic pea farmers.”