The newly-formed subsidiary headquarters will be in Chicago, Illinois, US. It will serve plant-based product manufacturers across North America, providing them with functional ingredients such as texturizers and binders.
The company also has installed local storage capacities to reduce delivery times for its wheat-based solutions.
In Europe, Crespel & Deiters Group is one of the leading manufacturers of wheat starches and proteins, and Loryma, the Group’s food specialist, will be the main business the US subsidiary will focus on.
“By specializing in wheat, we have built up a wealth of experience with time,” said Philipp Deiters, Crespel & Deiters board member.
“Our company’s mission is to maximize the use of this renewable raw material to create innovative solutions. This allows our customers to achieve more with less, all with the purpose of cooperating to conserve our planet’s resources,” Deiters added.
The market entry comes just two months after Crespel & Deiters finalized the integration of Extruded Cereal Products BV, a producer of extrudates for applications in cereals, sports nutrition, and meat alternatives acquired in 2020.
Additionally, Loryma is expanding its Lory IsoCrisp range with extruded crispies that are low in sugar but rich in protein.
These crispies not only add a pleasant crunch to biscuits, bars, muesli, and other snacks but also provide a plant protein boost.
“Health awareness among the population is growing steadily, and high-protein and plant-based are very important trends for consumers,” Marjolijn van Daalen, Research & Development Manager of Extruded Products, points out.
As the world experiences a rise in the adoption of vegan culture, growing health consciousness among people, and an increase in concerns for animal welfare, there is a surge in the demand for Plant-based foods.
The Plant-based food ingredients market size was valued at $2,895.6 million in 2020 and is estimated to reach $12,341.4 million by 2030, according to a report by Allied Market Research.
Companies like Crespel & Deiters Group are likely to keep thriving in this market.