Naas, Ireland—Kerry announced in a press release that it has acquired the Spanish company Pevesa Biotech, expanding its non-allergenic and organic plant protein capability.
Pevesa is an established global leader in non-allergenic, non-GMO plant proteins for the infant, general, and clinical nutrition markets, the release says. Pevesa offers a range of plant proteins, including organic pea and rice protein and protein hydrolysates. It has also developed a range of organic and standard biofertilizers for fruit, olive, and specialist garden growers, and has a corporate focus on developing sustainable solutions to important nutrition, health, biowaste, and agricultural challenges.
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“Kerry is extremely pleased to bring the global expertise of Pevesa into our leading plant protein portfolio,” said John Reilly, VP Business Development Proteins, Kerry, in the press release. “Kerry was attracted to Pevesa because of its expertise, innovation, high-quality manufacturing leadership, and patented technology in the non-allergenic plant protein market. This will be a good fit with Kerry’s growing plant protein product portfolio, and Pevesa’s customers will benefit from the synergy between its market-leading technology and Kerry’s protein processing expertise.”
The release adds that rice and pea protein have become two of the fastest-growing plant protein segments globally, as customers reduce consumptions of dairy and soy proteins. Citing DataM Intelligence and MarketsandMarkets, the release notes that 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; and the organic pea protein market was valued at $11 million in 2018.