American agribusiness Archer Daniels Midland (ADM) unveiled a new extrusion plant in Serbia that expands its production of non-GMO textured soy protein as the company looks to support the growing meat alternatives space in Europe and the Middle East, a company release announced Monday.
“Our new extrusion facility not only increases the supply of locally sourced, non-GMO textured soy protein in Europe, which is in high demand, it also matches the pace of the incredible expansion of the meat alternatives category in the EMEA region,” Leticia Goncalves, president, Global Foods for ADM, said in a statement. “The growth in EMEA, showing a market value of $3 billion at the end of 2021 and an anticipated CAGR of 11.8% between 2021 and 2026, is astounding.”
The move to open the extrusion facility comes after the US-based firm acquired European non-GMO soy ingredients maker SojaProtein. ADM’s new location offers the company both origination and textured soy extrusion capabilities to support the SojaProtein business.
“In just under a year, our operational synergies with SojaProtein have made massive strides to meet demand for non-GMO soy protein. We’ll see continued growth with the broader protein solutions toolbox and improved R&D capabilities through the opening of our facility,” Goncalves said. “The ingenuity of the new plant provides advanced extrusion and texturizing equipment, delivering optimized and flexible solutions, ultimately allowing for unmatched speed-to-market for our customers to create in-demand textured plant-based protein offerings with a delicious bite and chew.”
In April, ADM revealed plans for a $300 million project at its Decatur, IL manufacturing site to expand production of soy protein concentrate. The company also opened the Protein Innovation Center to collaborate with customers on custom solutions in labs