American agribusiness Cargill is moving to expand its position in the plant-based protein market with the introduction of new private label plant-based patties and ground products for retail and foodservice customers, the company announced in a release Monday.
The products were developed through consumer research and innovation efforts at Cargill facilities. A massive rise in demand for plant-based protein – with 70% growth predicted in the category over the next three decades – fueled its decision to launch the new products, according to Cargill.
“We’ve created the best tasting products available in the plant-based category today,” Elizabeth Gutschenritter, the managing director of the firm’s alternative protein team, said in statement. “We’ve combined our deep knowledge of plant proteins with our expertise in R&D, product development, and production to deliver products consumers will love.”
The company said its scale, supply chain, and formulation capabilities will enable plant-based products to appear more in retail stores, restaurants, and other locations.
“Cargill has a strong history of providing high-quality protein products to customers,” Gutschenritter said. “Producing plant-based products across our global supply chain is the logical next step in expanding our ability to meet consumer needs and bring new value to this category.”
While the firm is increasing its position in alternative proteins, Cargill is also continuing to make investments in traditional protein products. Over the last five years, the company dedicated $7 billion globally to improving its animal protein business.
Earlier this month, Cargill said it plans to make a $6.4 million investment to increase the food pilot capabilities of its North American Pilot Development Center in Savage, MN. The firm’s edible oils business will use the new facility for multi-scale, continuous piloting to help bakery customers develop new products.