ADM, Benson Hill Partner to Scale Ultra-High Protein Soybeans for Plant-Based Foods and Beverages
Sales for alternative meat and dairy proteins is predicted to grow at a CAGR of 14 percent, driving the market to a value of $125 billion by 2030, according to Archer Daniels Midland (ADM) and Benson Hill, a food tech company working to unlock the genetic diversity of plant-based proteins.
To meet this demand, the two companies announced their agreement to enter into a long-term strategic partnership to scale innovative soy ingredients to serve the savory, sweet, and dairy plant-based food and beverage markets.
Under the terms of the deal, ADM will process and commercialize a portfolio of proprietary ingredients derived from Benson Hill Ultra-High Protein (UHP) soybeans that genetically feature less-processed proteins with significant water and carbon sustainability benefits.
ADM’s has worked to expand its global capacity, positioning the company with the abilities needed to take the next steps to grow and enhance its value chain through the acquisition of Sojaprotein, and the recent investment of approximately $300 million to strengthen its alternative protein production in Decatur, Illinois. However, the two companies will jointly engage farmer partners looking for the opportunity to participate.