Quotes from Vegconomist, June 19, 2024
Plant-based protein portfolio strengthened by Bunge
In a significant development for the food industry, Bunge, a leading agribusiness and food company, has recently made a strategic move to broaden its range of protein concentrate products. This expansion is marked by the introduction of two new types of plant-based protein concentrates: pea and faba. These additions are set to enhance Bunge’s already robust portfolio, which previously focused on soy protein concentrate.
The move to include pea and faba protein concentrates comes at a time when the global demand for plant-based proteins is on the rise. Consumers are increasingly seeking out alternative protein sources, driven by health considerations, dietary preferences, and environmental concerns. Pea protein, in particular, has gained popularity due to its hypoallergenic properties and high nutritional value, offering a substantial amount of essential amino acids. Faba protein is also emerging as a promising ingredient, known for its functional benefits in food applications and its positive environmental footprint.
Bunge’s decision to incorporate these plant-based proteins aligns with the company’s commitment to innovation and sustainability. By expanding its protein concentrate offerings, Bunge is not only responding to market trends but also positioning itself as a versatile supplier capable of catering to a diverse range of consumer needs. This strategic diversification of its product line is indicative of Bunge’s foresight in recognizing the shifting dynamics of the food industry and its dedication to staying ahead of the curve.
The inclusion of pea and faba protein concentrates is expected to complement Bunge’s existing soy protein concentrate offerings. Soy protein has long been a staple in the plant-based protein market, appreciated for its complete protein profile and functional versatility. With the addition of pea and faba protein concentrates, Bunge is set to offer a more comprehensive selection of plant-based protein options to manufacturers and consumers alike.
This expansion reflects Bunge’s ongoing efforts to innovate within the food sector and to provide high-quality, sustainable ingredients that meet the evolving demands of the global market. As the company continues to grow its protein concentrate portfolio, it remains committed to delivering products that support healthier lifestyles and contribute to a more sustainable food system.
In an effort to support its growth, Bunge is collaborating with Golden Fields, a prominent agricultural firm and a top processor of pea and faba beans in Europe. A dedicated production facility for Bunge has been established in Liepaja, Latvia, where Golden Fields will carry out exclusive production.
Bunge’s latest collection of pea and faba protein concentrates boasts a host of impressive features. These offerings are free from genetically modified organisms, boast a pale hue, possess a fine texture, and offer a protein concentration of 55-70% when measured without moisture. These characteristics render them ideal for culinary uses, providing producers with a straightforward method to enhance the protein levels in their products while promoting labels free of GMOs and common allergens.
The plant-based industry is witnessing a surge in the popularity of pea and fava beans, fueled by substantial financial backing and an increase in consumer interest. Recently, Protein Industries Canada unveiled an ambitious initiative, investing $24.5 million in the creation of innovative fava bean-derived components and novel uses for pea starch and fiber. This move signifies a pivotal development in the realm of plant-based nutrition.
It is anticipated that by 2031, the worldwide demand for pea protein will escalate to a valuation of $7 billion, underscoring the growing significance of this component in various sectors. Concurrently, faba beans are gaining recognition among experts as a potential key player in the creation of meat substitutes, esteemed for their flavor and textural properties.
