What Plant-Based Protein Future Means for ADM
Agribusiness giant has moved into new arena with plant protein facilities in Brazil and North Dakota
Archer Daniels Midland is peering toward a future where the market for plant-based proteins is growing.
The agribusiness giant has moved into this new arena with plant protein facilities in Brazil and North Dakota, plus a partnership with Brazil's Marfrig Global Foods to make a vegetable burger, reports Crain's Chicago Business.
ADM is allocating more capital toward "downstream" businesses, including plant proteins, says Morningstar analyst Seth Goldstein.
As the market for plant-based proteins grows, they can slowly ramp up production.
"There's no reason to say that [ADM] not going to be a major player in the (alternative) protein space," David Katter, an analyst at Robert W. Baird, told Crain's.
Read the full report here.