Originally invented and patented in the 1960s to expand on ground meat as a means of reducing costs without decreasing nutritional value, Textured Vegetable Proteins (TVPs) have recently received a huge boost from the growing demand for plant-based protein options for vegetarians, vegans and flexitarians,” FN Media Group reported in a press release on Thursday.
“A research report from Allied Market Research states that the global TVP market size was estimated at $987.9 million in 2019, with a projected growth of ~$2.14 billion in 2027 and a growth of 9.2% from 2021 to 2027,” the agency reports.
Several multinational corporations are benefiting from the growing TVP food sector, including Nepra Foods (CSE:NPRA) (OTC: NPRFF), DuPont de Nemours (NYSE: DD), MGP Ingredients (NASDAQ: MGPI), and Ingredion Incorporated (NYSE: INGR ).
Tapping on hemp protein
Nepra Foods (CSE:NPRA) (OTC: NPRFF), a multi-category market leader in allergen-free and plant-based food ingredients and consumer products, has continuously developed its own proprietary product known as Textured Hemp Protein, which is currently used in wholesale ingredients and packaged consumer goods.
Hemp protein is an excellent source of vegetable protein, which is lean, rich in amino acids, a good source of iron, magnesium and manganese, and can prevent cardiovascular disease and cancer.
“Producing our own proprietary textured proteins gives us a huge advantage over most smaller producers who rely on third-party suppliers,” said David Wood, CEO of Nepra. “By being able to manufacture our own, we can formulate the proteins specifically for what we need while retaining the intellectual property of that formulation and keeping costs as low as possible.”
These wholesale THP™ sales alone are expected to increase operating revenues to $3.5 million per year.
“While nearly everyone in this space uses peas, soy, gluten and faba beans, our textured hemp protein has superior taste, texture and, most importantly, nutrition. It will be the first like this on the market,” Wood added. †
Diversifying market offer
While many of its textured protein products are made from soy, Archer-Daniels-Midland Company (NYSE: ADM), a US multinational food processing and commodity trading company, is reportedly exploring cultured meats, new sources and microfermentation innovation to delve deeper into the emerging alternative protein sector.
“Consumers are turning to protein alternatives for a variety of reasons, including wellness and environmental concerns,” said Leticia Goncalves, President of Global Foods for ADM. “Products aimed at meeting the increased demand for health solutions that can meet consumers’ changing taste and texture expectations will continue to hit the market over the next decade.”
“At ADM, we produce 60% and 80% protein soy chips that are perfect for nutritional bars,” added Wendy van Buren, ADM’s global commercial growth leader.
DuPont de Nemours (NYSE: DD), a technology-based materials, ingredients and solutions company, is another big name selling textured soy proteins through its Danisco Planit portfolio, which launched in 2020.
“We want to support the shift to a more plant-based diet by creating multiple options, enabling nutritious, plant-based foods and drinks at every meal, every day — from early breakfast to the midnight snack,” said Birgitte Borch, VP of Marketing for DuPont .
Danisco Planit has a substantial portfolio of ~20 plant-based protein options, including plant-based protein nuggets sold under its Supro (soy protein) and Trupro (pea protein) ranges.
Similarly, Ingredion Incorporated (NYSE: INGR), a US multinational ingredient supplier based in Westchester, Illinois, introduced a new textured vegetable protein, through its VITESSENCE TEX Crumbles 102 textured protein, for its range of vegetable solutions for the US and Canada, for 2021 .
“Ingredion’s continued investments in this category, including the opening of our manufacturing facility in South Sioux City, Neb., positions us to create the future of plant-based protein while providing the food and beverage industry with new options for creating differentiated, plant-based products,” said Michael Natale, leader of global growth platforms at Ingredion.
Photo by Jiroe on Unsplash.
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This post Archer-Daniels-Midland Company (NYSE:ADM), EI du Pont de Nemours and Company (NYSE:DD) – Vegan stocks bolstered by increasing interest in textured plant-based protein options
was original published at “https://www.benzinga.com/general/biotech/22/03/25980209/vegan-stocks-bolstered-by-rising-interest-in-textured-vegetable-protein-options”
