Supporting its long-term growth plans in both its domestic US and international markets, Beyond Meat has entered into an agreement with food, nutrition and health specialists, Roquette, to provide pea protein to the fast-growing alternative protein name.
Expanding pea partnership
Focusing on the food, nutrition and health markets, Roquette will expand upon its existing decade-long agreement with Beyond Meat to enhance its business partnership.
As part of the agreement, Beyond Meat and Roquette will enter into a multi-year sales agreement, whereby Roquette will provide the company with plant-based protein. The agreement expires on 31st December 2022, however, it can be terminated after 18 months under certain circumstances.
The move is expected to “significantly increase” the amount of pea protein supplied by Roquette to Beyond Meat over the forthcoming three-year period compared to that provided in 2019.
The official agreement reveals that it: “Increases the amount of plant-based protein to be supplied by Roquette in each of 2020, 2021 and 2022 compared to the amount supplied 2019.”
Commenting on the rising demand for its plant proteins, Ethan Brown, Founder and CEO of Beyond Meat reveals that the latest contract with Roquette reflects its “commitment to further scaling the plant protein supply chain”.
As part of its high-growth period, US-based Beyond Meat will continue to develop its relationship with Roquette, which announced in late last year that it was launching new plant-based proteins from peas and fava beans.
At present, consumers can buy the alternative protein provider’s burger, beef and sausage variants online via e-tailers including Amazon, Peapod and Fresh Direct. As Roquette is active in both Mexico and Brazil, Latin America may become a key growth market over the next three year period as their strategy develops.
Revealing its plan for growth in 2020 and beyond in Latin America, Roquette also noted that plant-based proteins is a “key focus” and so, Roquette plans to fully leverage its existing pea proteins. It aims to answer a “booming demand from consumers increasingly looking for a healthier lifestyle”.
Roquette sets its sights on using its new production facility in Canada to help more than double its supply capacity.
Along with its focus on innovation and enabling access to both new and existing plant protein feedstocks, Beyond Meat aims to create plant-based meats that taste good and contribute to “important health, climate, natural resource, and animal welfare goals”, Brown revealed.
Based on the commitment of “Eat What You Love’, Beyond Meat’s mission strives to build meat directly from plants to allow consumers to experience the taste, texture and other sensory attributes of popular animal-based meat products. Simultaneously, the producer aims to enable consumers to experience the nutritional and environmental benefits of eating its plant-based meat products.
As Roquette believes “nature has the answer to provide people with the food they need and demand”, Jean-Marc Gilson, CEO of Roquette, added that together, the two companies can “continue to write the history of this promising market”.
Plant protein is a core market
Back in December 2019, NutraIngredients LATAM spoke to Roquette’s Area Market Manager for Americas GBU Food, Aurelie Mauray, about the company’s plans for 2020 and how plant protein was a core market for the company in both Latin America and the US.
Commenting on the popularity of plant-based options in the US, Mauray relayed that retail sales of meat alternatives in the US were worth around $800 million in 2018, making the US the largest single market for meat alternatives globally according to the Foodmetrix database from Innova market insights.
Noting the rising presence of LATAM, Mauray added that Brazil is an emerging market with a “huge opportunity for growth”, with textured plant proteins of high interest to meet growing demand.