World Grain - February 2023 - 26

Companies betting on
PLANT-BASED
PROTEIN
Three largest US agribusiness companies
increase production to meet growing demand
by Arvin Donley
W
ith 52% of global consumers identifying
as flexitarians (incorporating both animalbased
and plant-based proteins into their
diet), according to a Mintel market research report,
oilseeds and legumes processors stand to benefit from
this shift toward alternative protein sources. Of those
consumers, nearly two-thirds are defining their eating
styles as " trying to consume more plant-based foods, "
leading to expanded protein options and fueling overall
demand for plant-based proteins.
A recent series of investments made by the three
largest US agribusiness companies indicates they're
increasingly confident in the future of plant-based proteins.
ADM, Bunge and Cargill (known as the ABCs
of agribusiness) during the past two years have announced
mergers, joint ventures, greenfield construction
projects, and acquisitions and expansions of existing
processing facilities as they position themselves
to meet burgeoning consumer demand for plant-based
protein for both food and feed uses.
The companies agree that the demand growth for
plant-based protein will not be a short-lived fad like,
for example, the low-carbohydrate Atkins Diet in the
early 2000s, but a long-lasting evolution in how people
consume protein.
" The global transition to plant-forward eating is
more than a trend; it's a lifestyle, " Allyson Fish, ADM's
president of Global Plant and Alternative Proteins, told
World Grain.
Mark Stavro, senior director of global marketing and
26
product management for Bunge, cited several reasons
why interest in plant-based protein has surged and likely
will have staying power. Not only is it viewed by many
as a healthier alternative to meat-based protein, it also
is seen as better for environmental sustainability, an issue
that is of great importance to younger generations.
" In Generation Z, which is people 25 years old and
below, the proportion of vegan diets and vegetarianism
is very high, " Stavro told World Grain. " Looking
at how different this generation is from other generations,
whether it's baby boomers, Generation X or millennials,
their interest and dedication to sustainability
and the environment is much higher. At the same time,
they're very open to trying different foods, and that's
one of the top drivers for plant-based eating. With all
of those factors together, I believe plant-based eating
when that generation reaches 30 to 35 years will be a
fundamental piece of how they live. "
Kaleb Belzer, Bunge's vice president and general
manager, protein ingredients, told World Grain that
double-digit growth for plant-based protein products is
taking place in a number of developed economies in
Europe, including Germany, the Netherlands and the
United Kingdom, as well as the United States.
" Curiously, Brazil is another place that's seeing
significant growth, " Belzer said, noting that JBS, the
world's largest meat company, is investing in a plant
protein product called Incrivel (Incredible) soy-based
burgers that is popular among Brazilians. " Surprisingly,
the proportion of vegetarians or vegans in Brazil comFebruary
2023 / World Grain / World-Grain.com
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World Grain - February 2023

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