Bunge said Dec. 15 it would invest about US$550 million to build a soy protein concentrate facility in Indiana to cater to a rising demand for plant-based food products and processed meats.
The new facility, adjacent to the company’s soybean processing plant in Morristown, is expected to process an additional 4.5 million bushels of soybeans. Construction is likely to start in the first quarter of 2023 and be commissioned by mid-2025, Bunge said in a statement.
The investment is part of a broader U.S. expansion of oilseed processing capacity as demand rises for food, animal feed and vegetable oils used in producing renewable fuels.
Demand for meat alternatives has soared as dietary habits shift for health reasons and out of concern for animal welfare and environmental damage from livestock farming.
Soy protein concentrate is used to make meat alternatives, but also increases the nutritional value in meat and poultry products.
