BELGRADE (Serbia), September 23 (SeeNews) - US-headquartered food processing and commodities trading giant Archer Daniels Midland (ADM) said it has opened a new extrusion facility in Serbia to meet accelerated demand for textured soy proteins.
“This comes less than a year after ADM’s acquisition of European provider of non-GMO soy ingredients, SojaProtein. With the combined efforts of ADM and SojaProtein, the facility will further expand ADM’s footprint in Europe, extending its production of non-GMO textured soy to include vital origination and extrusion capabilities,” ADM said in a press release earlier this week.
It did not disclose the value of the investment.
The new extrusion facility is set up to produce non-GMO soy proteins, which is a highly sought-after assertion not only in Europe, but around the world. Globally, 75% of consumers look for non-GMO claims on protein content.
Unique to the European region, ADM will now offer both origination and extrusion capabilities, extending the high-quality, non-GMO solutions currently available from ADM’s acquisition of SojaProtein. This is made possible due to 90% of the soy sourced grown within 100 kilometers of the facility, enabling a local supply chain.
“The growth in EMEA, showing a market value of $3 billion (3.1 billion euro) at the end of 2021 and an anticipated CAGR of 11.8% between 2021 and 2026, is astounding. With our 75+ years of experience developing tailored protein nutrition solutions now bolstered by both our expert colleagues at SojaProtein and our facility, we’re now even better suited to support our customers’ growth and innovation in the category,” Leticia Goncalves, ADM’s president of Global Foods, said in the press release.
($= 1.0253 euro)