Ingredion and Lantmännen announced a partnership to produce sustainable pea protein isolates in Sweden, enhancing European market supply.
Quiver AI Summary
Ingredion Incorporated has announced a long-term partnership with Lantmännen, a leading agricultural cooperative in Northern Europe, to develop sustainably sourced pea protein isolates for the European market. The collaboration will focus on sales, product innovation, and process improvement, with Lantmännen investing over 100 million euros in a new state-of-the-art factory in Sweden, expected to be completed by 2027. This partnership aims to leverage both companies' strengths to meet the growing demand for high-quality plant-based protein solutions. Ingredion's senior vice president expressed that this marks a significant step in solidifying their position in the plant-based protein industry, while Lantmännen's CEO highlighted the potential to revolutionize the market through this collaboration. The companies will showcase their innovations at the Food Ingredients Europe event in November 2024.
Potential Positives
- Collaboration with Lantmännen enhances Ingredion's presence in the European market, which is strategic for expanding their product offerings in the plant-based protein sector.
- Lantmännen's investment of over 100 million euros in a new factory in Sweden demonstrates strong commitment to sustainable, high-quality ingredient production, positively impacting Ingredion's alignment with sustainability goals.
- The partnership aims to develop a differentiated portfolio of plant-based protein isolates, which could lead to a competitive advantage in the growing demand for plant-based foods.
Potential Negatives
- Significant investment and construction timeline (completion in 2027) may deter potential clients seeking more immediate solutions in the plant-based protein market.
- The collaboration places Ingredion in direct competition with other established players in the European plant-based protein sector, which could impact market share and profitability.
- The focus on pea protein isolates may limit diversification, potentially exposing the company to market fluctuations specific to this ingredient category.
FAQ
What is the new collaboration between Ingredion and Lantmännen about?
The collaboration focuses on producing sustainably sourced pea protein isolates for the European market.
How much is Lantmännen investing in the new factory?
Lantmännen is investing over 100 million euros in a state-of-the-art factory in Sweden.
When will the production plant be completed?
The construction of the production plant is expected to be completed by 2027.
How will this partnership impact the plant-based protein market?
The partnership aims to revolutionize the plant-based protein market with innovative, high-quality pea protein isolates.
Where can I learn more about plant-based proteins?
Learn more at Food Ingredients Europe from November 19-21, 2024, in Frankfurt, Germany.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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Full Release
WESTCHESTER, Ill., Nov. 14, 2024 (GLOBE NEWSWIRE) -- Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions for food, beverage and industrial applications, and Lantmännen announce a new long-term collaboration. Lantmännen is an agricultural cooperative and Northern Europe's leading player in agriculture, bioenergy, food and ingredients. The collaboration will begin with the fulfillment of European market needs for competitive, sustainably sourced, and high quality pea protein isolates and various facets of sales, product innovation, and process enhancement.
Lantmännen will invest more than 100 million euros in a state-of–the-art factory in Sweden , while partnering with Ingredion to develop a differentiated portfolio of plant-based protein isolates based on yellow peas. Construction of the production plant will be completed in 2027.
“By joining forces with Lantmännen, we are expanding our footprint in the European market. This marks a significant milestone in our strategy to solidify our position as a global leader in the plant-based protein industry,” said Mike O’Riordan, Ingredion’s senior vice president of texture and healthful solutions in EMEA. “This partnership allows us to leverage our combined strengths to deliver superior, sustainably sourced pea protein isolates that meet the evolving needs of the global market.”
“Partnering with Ingredion is a game-changer for us,” said Lars-Gunnar Edh, executive vice president of the Lantmännen Energy Sector and CEO of Lantmännen Biorefineries. “Ingredion’s extensive market reach and deep expertise in process engineering and product development perfectly complements our vertically integrated production capabilities. Together, we are poised to revolutionize the plant-based protein market with innovative, high-quality pea protein isolates.”
Learn more about what’s next in plant-based proteins at Food Ingredients Europe on 19-21 November 2024 in Frankfurt, Germany. Visit with Ingredion at booth 3.1H90 and Lantmännen at booth 4.2 H53 .
ABOUT INGREDION
Ingredion Incorporated (NYSE: INGR), headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in nearly 120 countries. With 2023 annual net sales of approximately $8 billion, the Company turns grains, fruits, vegetables, and other plant-based materials into value-added ingredient solutions for the food, beverage, animal nutrition, brewing and industrial markets. With Ingredion Idea Labs ® innovation centers located around the world and more than 12,000 employees, the Company co-creates with customers and fulfills its purpose of bringing the potential of people, nature, and technology together to make life better. Visit ingredion.com for more information and the latest Company news.
ABOUT LANTMÄNNEN
Lantmännen is an agricultural cooperative and Northern Europe’s leader in agriculture, machinery, bioenergy and food products. Owned by 18,000 Swedish farmers, we have 12,000 employees, operations in over 20 countries and an annual turnover of over $7 billion. Our company is founded on the knowledge and values acquired through generations of farmers. With research, development and operations throughout the value chain, together we take responsibility from field to fork. www.lantmannen.com
TRADE MEDIA CONTACTS
Ingredion EMEA: Thomas Embleton, Tel: +44 (0) 1782 28450, E-mail: [email protected]
Lantmännen's press office: Tel: 010 556 88 00, E-mail: [email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bd5f3645-1c0b-4384-a041-fed8e0e4553d
