FUNCTIONAL PROTEIN MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In December 2020, Cargill expanded opportunities for innovation in plant-based foods with addition of pea protein to European ingredient portfolio.
• Ingredion acquired 100% of Verdient Foods (Vanscoy, SK) in November 2020. By adding two new manufacturing facilities in Canada, the acquisition increased Ingredion's manufacturing capacity and allowed for a rise in net sales.
• In December 2020, Ocean Spray, an agricultural cooperative has formed partnership with Amai Proteins, a protein designer company. The joint venture created a well-known brand identity for the business and increased its visibility.
• On January 24, 2023, BASF, a leading chemical company and Cargill, a global company headquartered in Minnetonka, U.S. expanded their partnership to offer high-performance enzyme solutions to animal protein producers in the U.S. to craft the next generation of enzymes jointly