1. Food

Cargill invests $75M in pea protein maker Puris

Dive Transient:

  • Cargill has put $75 million extra into Puris, a Minnesota-based producer of pea protein, following an funding of $25 million from Cargill to the corporate final yr. 
  • The brand new funding will probably be used to greater than double pea protein manufacturing at a 200,000-square-foot facility in Dawson, Minnesota. The corporate additionally has amenities in Wisconsin and Iowa. 
  • Puris offers non-GMO and natural pea protein choices grown by a community of greater than 400 U.S. farmers from its personal proprietary seed.

Dive Perception:

This added funding builds on the three way partnership settlement Cargill and Puris entered into final yr to hurry up pea protein manufacturing.

For Cargill, its ongoing relationship with Puris might assist the Minnesota-based agricultural merchandise big ramp up its plant protein portfolio, which is more likely to embody pea protein merchandise. Launches of meals and drinks containing pea protein noticed a 19% compound annual progress charge between January 2016 and December 2018, in line with Innova Market Insights information cited by Meals Navigator.

One among Puris’ prospects is Past Meat, which continues to spice up manufacturing of its plant-based merchandise utilizing peas as the principle supply of protein, in line with CNBC. Past Meat additionally sources the ingredient from Roquette, a French meals ingredient maker. 

Whereas pea-based protein has been widespread in Europe and elsewhere, the U.S. market has been comparatively small till not too long ago. Extracted from dried and floor yellow break up peas, pea protein is now displaying up in every thing from smoothies and protein bars to meat options and yogurt. Normal Mills makes use of the ingredient in its Larabar and Cascadian Farms manufacturers, and Ripple Meals has centered its whole model round pea-based milk. 

Different plant-based merchandise utilizing pea protein embody the Lightlife Burger from Canada’s Maple Leaf Meals, which additionally makes use of the protein in its floor meat, bratwurst and Italian sausage merchandise. Ripple Meals’ dairy options and Good Catch Meals’ faux tuna additionally depend on pea protein, as do quite a lot of protein powders, baked items and smoothies.

This surging reputation has raised questions on provide. As makers of fake beef, rooster, seafood and dairy substitutes look to legume-based protein for his or her formulations, they’re asking whether or not there will probably be sufficient pea protein to gasoline market progress. But when Puris and different suppliers equivalent to Roquette, Kerry and ADM are in a position to considerably improve manufacturing, this challenge could be resolved.

Apart from peas, different widespread plant-based protein sources embody soy, whey and wheat. Some shoppers keep away from soy and wheat attributable to issues with allergy symptoms or gluten, whereas whey requires milk. Consultants say pea protein’s bioavailability is lower than whey or soy, however it may be cheaper to make use of than animal proteins. If demand for pea protein retains up, Cargill’s funding in Puris might repay and assist guarantee provide, high quality and sustainability.

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