Cargill has unveiled private-label plant-based patties and ground products that will go on sale in retailers and restaurants in early April.
The agricultural commodities trader said the move is part of its approach to the future of protein – advancing both animal and alternative products to meet the expected 70% growth in global demand for protein over the next 30 years.
The launches will see Cargill compete with plant-based meat alternatives manufacturers Beyond Meat and Impossible Foods. Meat companies that have already entered the space include Tyson Foods, Marfrig and Smithfield Foods.
“We’ve created some of the best-tasting products available in the plant-based category today,” said Elizabeth Gutschenritter, managing director of Cargill’s alternative protein team. “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.”
She added: “Cargill has a strong history of providing high-quality protein products to customers. Producing plant-based products across our global supply chain is the logical next step to expanding our ability to meet consumer needs and bring new value to this category.”
Cargill has invested $7 billion globally in animal protein in the last five years while making strategic investments in the alternative protein space. Last year, the company invested $75 million to accelerate the development of Puris, a US pea protein producer.
“Cargill’s strategy for both food and feed is based on helping customers thrive in a world where demand for protein is rising,” said Brian Sikes, leader of Cargill’s global protein and salt business.
“We need to keep all protein options on the table. Whether you are eating alternative or animal protein, Cargill will be at the centre of the plate.”
In its second-quarter results published last month, Cargill posted revenues 4% higher than the year-ago period thanks in part to the performance of its protein operations.
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