Louis Dreyfus Company, a merchant and processor of agricultural goods, plans to build a pea protein production facility in Canada.
The plant, at the site of its existing complex in Yorkton, Saskatchewan, is part of the company’s push to diversify its agricultural commodity activities. The facility will supply ingredients for dairy alternatives, high-protein nutrition solutions and various plant-based applications, the company said.
The new structure will increase Louis Dreyfus’ ability to deliver the taste-neutral pea protein suited for the dairy alternatives market, high-protein nutrition solutions and other plant-based applications.
The plant, expected to be operational by the end of 2025, expands and accelerates Louis Dreyfus’ existing pea protein isolate and non-GMO soy isolate offerings, according to the company. The new facility will employ approximately 60 people. The cost was not disclosed.
The global pea protein market size was valued at $1.9 billion in 2022 and is expected to grow at a compound annual growth rate of 12% from 2023 to 2030, according to Grand View Research. Demand is being fueled by health and fitness trends along with consumption by vegan and vegetarian consumers.
“The investment is an important step in the Group’s global growth strategy, as part of our plans to diversify revenue through value-added products – in this case, addressing the growing demand for high-quality, nutritious and sustainable plant-based protein alternatives,” Michael Gelchie, Louis Dreyfus’ CEO, said in a statement.
