Kerry Acquires Pevesa, a Plant Proteins Organization
Acquisition expands Kerry’s position as a leader in the rapidly growing global market for non-allergenic and organic plant protein ingredients
Kerry, the Taste & Nutrition company, announced that it has expanded its non-allergenic and organic plant protein capability by acquiring the Spanish company Pevesa Biotech. The acquisition enhances Kerry’s leadership position in the hydrolysed plant protein space for specialized nutrition, and expands the company’s capacity to serve the rapidly growing, high-quality, organic plant protein market.
Based in Spain, Pevesa Biotech is a well-established global leader in non-allergenic, non-GMO plant proteins for the infant, general and clinical nutrition markets. Pevesa offer a range of high-quality plant proteins, including organic pea and rice protein and protein hydrolysates and is a European leader in non-allergenic plant proteins for infant nutrition. Pevesa has also developed a range of organic and standard biofertilizers for fruit, olive and specialist garden growers, and has had a strong corporate focus for many years on developing sustainable solutions to important nutrition, health, biowaste and agricultural challenges.
The growing inclination of consumers toward natural and plant-based products has been fueling the explosive demand for plant-based foods over the last few years. This trend extends to increased demand for plant protein sources. As consumers reduce their consumption of dairy and soya proteins (for allergy, health, sustainability or animal welfare reasons), rice and pea protein have become two of the fastest-growing plant protein segments globally. The global plant proteins ingredient market is projected to grow at 6.6% per annum from 2018 to 2023; the organic rice protein market was estimated at $42 million in 2018; while the organic pea protein market was valued at $11 million in 2018.*
* Sources: DataM Intelligence, Global Plant Protein Market 2018-2025, MarketsandMarkets: Organic Rice Protein Market 2018, Markets and Markets: Organic Pea Protein Market 2018.