The acquisition allows Kerry to expand its organic plant protein capabilities.
Kerry, Naas, Ireland, said it expanded its non-allergenic and organic plant protein capability by acquiring the Spanish company Pevesa Biotech. The acquisition enhances Kerry’s position in the hydrolyzed plant protein space for specialized nutrition and expands the company’s capacity to serve the rapidly growing high-quality organic plant protein market.
According to Kerry, growing consumer interest in 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 soy proteins (for allergy, health, sustainability or animal welfare reasons), rice and pea protein have become two of the fastest-growing plant protein segments globally.