The partnership will enable the companies to identify ways to scale cost-effective ingredients that enable meat substitutes to deliver on their cost, nutrition, flavor, and texture targets.
Now that plant-based alternatives to meat and dairy have been well-established in the marketplace, incorporating plant proteins into baked foods is where the action will be in 2023.
Leading the Series A funding round was Unovis, an early backer of Oatly and Beyond Meat, with participation from Bessemer Venture Partners, AgFunder and KBW Ventures.
ADM and Benson Hill, Inc. have entered a long-term strategic partnership to scale innovative soy ingredients to help meet the rapidly growing demand for plant-based proteins and serve a variety of plant-based food and beverage markets to meet savory, sweet and dairy customer needs, the companies announced Aug. 8.
Nearly half of shoppers put at least some effort into selecting plant-based food and beverages, and many expect to increase consumption in the future, according to data from FMI — The Food Industry Association’s inaugural “Power of Plant-Based” report.